Capital gains realizations

James R. Hines and Daniel Schaffa

Economics Letters, 2024, vol. 244, issue C

Abstract: If there are important nondeductible costs to long-term investing, then higher capital gains tax rates may encourage or discourage investors from realizing accumulated gains. This ambiguity suggests that the sizeable observed effects of capital gains taxes on realizations may partly reflect factors other than the time value of money, such as investor anticipations of future tax rate changes.

JEL-codes: G11 H24 H31 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:244:y:2024:i:c:s0165176524004749

DOI: 10.1016/j.econlet.2024.111990

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