Research

The Capital Gains Tax Report 2026: Realized Gains, Concentration, and Rates

By The Ledgerism Editorial Team · The Ledgerism Brief Editorial Team produces original, methodology-disclosed accounting and tax research—data trackers, databases, and reference guides built to be the most-cited source in the field. Every figure is verified against primary sources including FASB, the IRS, the PCAOB, NASBA, the AICPA, and state boards of accountancy.

A primary-source data profile of realized capital gains in the United States, built from IRS Statistics of Income, Treasury Office of Tax Analysis, the Congressional Budget Office, and the Joint Committee on Taxation. Every figure is labeled with its tax year or fiscal year. Federal statistical data lags one to two years; the most recent complete IRS microdata is Tax Year 2022 (filing year 2023), and 2023 through 2025 realization and revenue figures are CBO estimates.

Executive summary

• U.S. individual income tax returns reported $1,240.9 billion in net capital gain (less loss) for Tax Year 2022, down 38.9% from $2,032.6 billion in Tax Year 2021. (Source: IRS Statistics of Income, Publication 1304, Table 1.)
• Realized capital gains hit a record $2,073.7 billion in calendar year 2021, about 8.7% of GDP, the highest level in more than 40 years. (Source: CBO, “CBO’s Projections of Realized Capital Gains Subject to the Individual Income Tax,” February 2023.)
• Taxpayers with adjusted gross income of $1,000,000 or more accounted for 68.4% of all taxable net capital gain reported in Tax Year 2022. (Source: IRS SOI, Publication 1304, Table 1.4A; Ledgerism calculation.)
• Just 25,066 returns reporting AGI of $10,000,000 or more, roughly 0.016% of all returns filed, reported 39.5% of taxable net capital gain in Tax Year 2022. (Source: IRS SOI, Publication 1304, Table 1.4A; Ledgerism calculation.)
• Internal IRS microdata for 2002 to 2021 shows 75.7% of total capital gains flowed to the richest 10% of individuals and 45.3% to the top 1%. (Source: Campbell, Robbins, and Wylde, “The Distribution of Capital Gains in the United States,” IRS SOI working paper, December 2024.)
• The preferential 0/15/20% rate structure for long-term capital gains and qualified dividends is the second-largest individual tax expenditure, estimated at $1,253.0 billion over fiscal years 2025 to 2029. (Source: Joint Committee on Taxation, JCX-45-25, December 2025.)
• The top statutory long-term capital gains rate is 20%; adding the 3.8% Net Investment Income Tax yields a 23.8% top combined federal rate, in effect since 2013. (Source: Treasury Office of Tax Analysis; IRS.)
• The 3.8% NIIT thresholds of $200,000 (single) and $250,000 (married filing jointly) have never been indexed for inflation since taking effect in 2013. (Source: Congressional Research Service, IF11820.)

Key findings

• Individual tax returns reported $1,240.9 billion in net capital gain less loss for Tax Year 2022, versus $2,032.6 billion for Tax Year 2021, a 38.9% decline. (IRS SOI, Publication 1304, Table 1, United States.)
• 26,480,998 returns reported a net capital gain (less loss) for Tax Year 2022, down 7.3% from 28,571,454 returns in Tax Year 2021. (IRS SOI, Publication 1304, Table 1, United States.)
• Net capital gain equaled 38.9% of the year-over-year change in total income sources in the SOI 2022 report, and sales of capital assets accounted for 55.3% of AGI for the highest income group. (IRS SOI, Publication 1304, TY2022, United States.)
• Returns with AGI of $1,000,000 or more reported $868.9 billion of the $1,269.8 billion in total taxable net gain from capital-asset sales in Tax Year 2022, a 68.4% share. (IRS SOI, Publication 1304, Table 1.4A; Ledgerism calculation.)
• Returns with AGI of $10,000,000 or more reported $501.0 billion in taxable net gain in Tax Year 2022, averaging about $20.0 million per return across 25,066 returns. (IRS SOI, Publication 1304, Table 1.4A; Ledgerism calculation.)
• Net short-term capital gain reported for Tax Year 2022 was $77.7 billion, a small fraction of total gains, confirming that realized gains are overwhelmingly long-term. (IRS SOI, Publication 1304, Table 1.4A, United States.)
• Realized capital gains reached a record $2,073.7 billion in calendar year 2021 before falling to an estimated $1,283.6 billion in 2022. (Treasury OTA / CBO series, calendar years.)
• Capital gains provided more than 14% of individual income tax receipts in fiscal years 2021 and 2022, well above the typical share. (CBO, February 2023.)
• CBO projects capital gains realizations will decline toward a long-run average near 3.7% of GDP, down from the 8.7% peak in 2021. (CBO, February 2023.)
• The preferential rate on capital gains and dividends was estimated as a $225.1 billion tax expenditure for fiscal year 2024. (JCT, JCX-48-24, December 2024.)
• Reduced rates on long-term capital gains and qualified dividends are projected to total $1,253.0 billion over fiscal years 2025 to 2029, ranking second among individual tax expenditures. (JCT, JCX-45-25, December 2025.)
• The modern-era maximum long-term capital gains rate peaked at 39.875% during 1976 to 1978. (Treasury OTA; Wolters Kluwer historical series.)
• The top combined federal long-term rate has been 23.8% since 2013, comprising the 20% statutory maximum plus the 3.8% NIIT. (Treasury OTA; IRS.)
• Estimated capital gains tax collections were $206.6 billion in calendar year 2024 and an estimated $260.6 billion in 2025. (CBO estimates as compiled by Tax Foundation from Treasury and CBO data.)
• The number of taxpayers subject to the 3.8% NIIT rose from about 3.1 million to about 7.3 million, driven partly by the unindexed thresholds. (CRS, IF11820.)

Total realized capital gains reported

The single most current comprehensive IRS microdata source is the Statistics of Income Individual Income Tax Returns Complete Report, Publication 1304, for Tax Year 2022. It draws on a stratified probability sample representing 161.3 million individual returns.

For Tax Year 2022, individual returns reported $1,240.9 billion in net capital gain (less loss), a 38.9% drop from the $2,032.6 billion reported for Tax Year 2021. The number of returns reporting a net capital gain (less loss) fell 7.3%, from 28,571,454 to 26,480,998. The gross figure for sales of capital assets net gain (before netting losses) was $1,282.6 billion for Tax Year 2022.

Realized gains are overwhelmingly long-term. Net short-term capital gain reported for Tax Year 2022 was $77.7 billion, roughly 6% of the taxable net gain total of $1,269.8 billion. This matters because only long-term gains qualify for the preferential 0/15/20% rates; short-term gains are taxed as ordinary income.

Limitation: The IRS SOI “Sales of Capital Assets Reported on Individual Tax Returns” specialized bulletin, which breaks gains down by asset type and holding period in fine detail, was last published for Tax Year 2015. For years after 2015, the holding-period and asset-type granularity is thinner; Publication 1304 provides the annual net-gain totals used here.

Distribution of gains by income group

Capital gains are the most concentrated major form of income in the United States. Two Tier-1 sources establish this from different angles.

First, IRS SOI Publication 1304 Table 1.4A, sorted by size of adjusted gross income for Tax Year 2022, shows realized gains cluster at the top of the income distribution.

Source: IRS SOI, Publication 1304, Table 1.4A, Tax Year 2022; Ledgerism calculation of shares. Sub-group rows use both the all-returns and taxable-returns bands; the $1M+ share is derived from the taxable-returns $1,000,000-or-more row against the all-returns taxable net gain total.

The headline: returns with AGI of $1,000,000 or more captured 68.4% of taxable net capital gain in Tax Year 2022, and the roughly 25,000 returns reporting AGI of $10,000,000 or more, about 0.016% of all filers, captured 39.5%. Average net gain in that top band was near $20.0 million per return.

Second, an IRS Statistics of Income working paper using internal (non-public) tax return microdata for 2002 to 2021 measured concentration of total capital gains, including an estimate that adjusts for the fact that most appreciation is never realized on tax forms. It found 75.7% of total capital gains flowed to the richest 10% of individuals and 45.3% to the top 1% over the sample period. Including capital gains raised the top 1% share of Haig-Simons income to 21.0%, versus 18% without them.

Source: Campbell, Robbins, and Wylde, “The Distribution of Capital Gains in the United States,” IRS SOI working paper, December 23, 2024. The paper states its views are the authors’ and not necessarily the IRS’s; treat it as an academic Tier-1 dataset built on IRS microdata.

Capital gains tax revenue

Capital gains revenue is volatile because realizations rise and fall sharply with asset markets and with taxpayer timing decisions.

Source: Tax Foundation historical series compiled from U.S. Treasury (realizations, calendar-year basis) and Congressional Budget Office (taxes, estimated on a fiscal-year basis for 2015 to 2025). Figures for 2023 to 2025 are estimates, not final IRS collections. This series is Tier-2 in that Tax Foundation compiles it, but the underlying figures are Treasury and CBO primary data.

CBO reported that capital gains realizations “probably exceeded $2 trillion” in 2021, about 8.7% of GDP, the highest in more than 40 years, and that capital gains produced more than 14% of individual income tax receipts in fiscal years 2021 and 2022. CBO projects realizations to trend toward roughly 3.7% of GDP over the long run.

Source: CBO, “CBO’s Projections of Realized Capital Gains Subject to the Individual Income Tax,” February 2023.

The preferential rate structure (0/15/20%) plus the 3.8% NIIT

Net long-term capital gains and qualified dividends are taxed under a three-bracket preferential schedule of 0%, 15%, and 20%, rather than under the ordinary income brackets of 10% to 37%. The thresholds are indexed annually. For Tax Year 2026, per IRS Revenue Procedure 2025-32:

Source: Internal Revenue Service, Revenue Procedure 2025-32, 2026 inflation adjustments (as tabulated by Tax Foundation, “2026 Tax Brackets”). The 0% ceiling for married joint filers rose from $96,700 in 2025 to $98,900 in 2026.

On top of the statutory rate, the 3.8% Net Investment Income Tax applies to net investment income (including capital gains, dividends, interest, and passive income) for taxpayers whose modified adjusted gross income exceeds $200,000 (single or head of household), $250,000 (married filing jointly), or $125,000 (married filing separately). The tax equals 3.8% of the lesser of net investment income or the amount of MAGI above the threshold.

These NIIT thresholds have never been indexed for inflation since they took effect in 2013. As a result, the number of taxpayers subject to the tax has grown, from about 3.1 million to about 7.3 million per CRS. For top-bracket investors, the 20% rate plus 3.8% NIIT produces a 23.8% top combined federal rate on long-term gains.

Source: Congressional Research Service, “The 3.8% Net Investment Income Tax,” IF11820; IRS, “Questions and Answers on the Net Investment Income Tax.”

Tax expenditure

The Joint Committee on Taxation classifies the reduced rates on long-term capital gains and qualified dividends as a tax expenditure, the revenue the Treasury forgoes relative to taxing this income at ordinary rates. JCT estimated this expenditure at $225.1 billion for fiscal year 2024 (JCX-48-24, December 2024) and projected reduced rates on dividends and long-term capital gains at $1,253.0 billion over fiscal years 2025 to 2029, the second-largest individual tax expenditure after the exclusion of employer contributions for health care (JCX-45-25, December 2025).

Historical top capital gains rate

Source: U.S. Treasury Office of Tax Analysis; Wolters Kluwer historical capital gains rate series. Note: pre-1954 nominal maximum rates were higher still (Tax Foundation records a 77% maximum in 1918 tied to World War I surtaxes), but those are not comparable to the modern preferential-rate regime and are flagged here for context only.

Original synthesis

1. Capital Gains Concentration Ratio (TY2022)

Logic: taxable net gain reported by returns with AGI of $1,000,000 or more, divided by total taxable net gain from capital-asset sales, from IRS SOI Publication 1304 Table 1.4A.

• $1M+ group taxable net gain: $868.9 billion.
• Total taxable net gain: $1,269.8 billion.
• Concentration Ratio = 68.4%.

Extending to the top band: the $10,000,000-or-more group, 25,066 returns (about 0.016% of the 161.3 million returns filed), reported $501.0 billion, or 39.5% of taxable net gain, averaging about $20.0 million per return. Limitation: SOI AGI bands are not the same as wealth percentiles, and the taxable-returns row for the $1M+ band is compared against the all-returns taxable net gain total; the resulting share is directionally robust but not a percentile ranking.

2. Realization Volatility Index (2019 to 2025)

Logic: peak-to-trough swing in annual realized gains illustrates why capital gains revenue is the least stable major federal revenue stream. Inputs from the Treasury/CBO calendar-year series.

• 2021 peak realizations: $2,073.7 billion.
• 2022 realizations: $1,283.6 billion (a 38.1% single-year decline).
• 2023 estimated realizations: $943.4 billion (a 54.5% drop from the 2021 peak).

The two-year collapse from the 2021 record erased over $1.1 trillion in annual realized gains. Limitation: 2023 to 2025 realizations are estimates compiled from CBO/Treasury projections, not final IRS SOI data.

3. Effective vs. Statutory Rate Gap

Logic: comparing the top statutory combined rate (23.8%) with realized-basis and total-appreciation effective rates reveals how much appreciation escapes tax.

• Aggregate taxes paid divided by realized gains, 2024 estimate: $206.6B / $1,368.1B = about 15.1%, well below the 23.8% top rate because most gains fall in the 15% bracket and some in 0%.
• On a total-appreciation basis, the IRS SOI working paper estimates the effective tax rate on capital gains is only about 5%, because most appreciation is unrealized or exempt (for example, the step-up in basis at death and excluded home-sale gains). Limitation: the 5% figure is a modeled estimate over 2002 to 2021, not a filing-year statistic; the 15.1% figure is an aggregate ratio, not a per-taxpayer average.

Charts to create

1. “Realized Capital Gains vs. Capital Gains Tax Revenue, 2019 to 2025.” Data: annual realized gains and taxes from the Treasury/CBO series. Insight: revenue tracks realizations with a lag and is highly volatile. Citation-worthy because it visualizes the single most cyclical federal revenue source.
2. “Share of Capital Gains by AGI Group, TY2022.” Data: IRS SOI Table 1.4A taxable net gain by AGI band. Insight: 68.4% concentrated in the $1M+ group. Citation-worthy as the clearest primary-source concentration visual.
3. “Top Long-Term Capital Gains Rate, 1976 to 2026.” Data: Treasury OTA / Wolters Kluwer rate history. Insight: the modern peak of 39.875% versus today’s 23.8%. Citation-worthy for historical context in rate-change debates.
4. “The Realization Gap: Total Appreciation vs. Realized vs. Taxed.” Data: IRS SOI working paper estimates. Insight: less than 20% of accrued gains over 1954 to 2021 were ever reported on tax returns. Citation-worthy for illustrating unrealized-gains policy debates.

Methodology

Source selection prioritized Tier-1 primary data: IRS Statistics of Income (Publication 1304 for TY2022 totals and Table 1.4A for the AGI distribution; the internal-data working paper for concentration), the U.S. Treasury Office of Tax Analysis (historical realizations and rates), the Congressional Budget Office (realizations as a share of GDP and revenue share), the Joint Committee on Taxation (tax expenditure), and IRS Revenue Procedure 2025-32 (2026 rate thresholds). Secondary compilations (Tax Foundation) were used only where they transparently reproduce Treasury and CBO primary figures.

Inclusion rule: every statistic carries a tax year or fiscal year and a geography (United States). Exclusion rule: any figure that could not be traced to a primary source, or that was presented without a clear year, was omitted. Where the detailed IRS “Sales of Capital Assets” holding-period series was unavailable after TY2015, we used Publication 1304 net-gain totals and flagged the gap. Conflicting rate histories (for example, a “39.875%” modern peak versus a pre-1954 nominal “77%”) were reconciled by separating the modern preferential-rate era from pre-1954 surtax-era rates. Derived figures (concentration ratio, volatility index, effective-rate gap) were computed by the editor from the cited primary tables and are labeled “Ledgerism calculation.” Last updated 2026-06-29.

Source quality ranking

Tier 1 (primary/government/academic microdata):
– IRS Statistics of Income, Publication 1304, Individual Income Tax Returns Complete Report, Tax Year 2022 (Tables 1 and 1.4A).
– IRS SOI working paper, “The Distribution of Capital Gains in the United States,” Campbell, Robbins, and Wylde, December 2024.
– U.S. Treasury Office of Tax Analysis, historical capital gains realizations and rates.
– Congressional Budget Office, “CBO’s Projections of Realized Capital Gains Subject to the Individual Income Tax,” February 2023; “The Budget and Economic Outlook: 2025 to 2035,” January 2025.
– Joint Committee on Taxation, “Estimates of Federal Tax Expenditures for Fiscal Years 2025-2029,” JCX-45-25, December 2025; JCX-48-24, December 2024.
– IRS Revenue Procedure 2025-32 (2026 inflation adjustments).
– Congressional Research Service, “The 3.8% Net Investment Income Tax,” IF11820.

Tier 2 (credible compilers of primary data): Tax Foundation historical capital gains collections series (compiles Treasury and CBO figures); Tax Policy Center largest-tax-expenditures brief (cites JCT).

Excluded: undated blog figures, calculators, and any secondary source that did not name its primary origin. The JCT primary PDF (JCX-45-25) could not be fetched directly (server returned 403); the $1,253.0 billion figure is reported here via consistent secondary citations of that document and should be confirmed against the primary PDF before publication.

Citation format

• Source: Internal Revenue Service, Statistics of Income, Individual Income Tax Returns Complete Report (Publication 1304), Tax Year 2022, Tables 1 and 1.4A.
• Source: Campbell, C., Robbins, J. A., and Wylde, S., “The Distribution of Capital Gains in the United States,” IRS Statistics of Income working paper, December 2024.
• Source: U.S. Department of the Treasury, Office of Tax Analysis, historical capital gains realizations and tax rates.
• Source: Congressional Budget Office, “CBO’s Projections of Realized Capital Gains Subject to the Individual Income Tax,” February 2023.
• Source: Joint Committee on Taxation, “Estimates of Federal Tax Expenditures for Fiscal Years 2025-2029,” JCX-45-25, December 2025.
• Source: Internal Revenue Service, Revenue Procedure 2025-32, 2026 inflation-adjusted amounts.
• Source: Congressional Research Service, “The 3.8% Net Investment Income Tax: Overview, Data, and Policy Options,” IF11820.

Journalist-friendly additions

Most quotable statistics

• Returns with AGI over $1 million captured 68.4% of taxable net capital gain in Tax Year 2022 (IRS SOI).
• About 25,000 returns reporting $10 million or more in AGI, roughly 0.016% of all filers, captured 39.5% of taxable net gain in Tax Year 2022 (IRS SOI).
• Realized capital gains hit a record $2.07 trillion in 2021, about 8.7% of GDP (CBO).
• 75.7% of total capital gains flowed to the richest 10% of individuals over 2002 to 2021 (IRS SOI working paper).
• The preferential capital gains and dividend rate is a projected $1,253.0 billion tax expenditure over FY2025 to 2029 (JCT).
• The 3.8% NIIT thresholds have not changed since 2013 and are not indexed for inflation (CRS).

Data limitations

• The most current complete IRS microdata is Tax Year 2022; 2023 to 2025 realization and revenue figures are estimates.
• The detailed IRS holding-period/asset-type “Sales of Capital Assets” series ends at Tax Year 2015.
• SOI AGI bands approximate but do not equal wealth or income percentiles.
• The $1,253.0 billion JCT figure is reported via secondary citation because the primary PDF was inaccessible; verify before publishing.

Downloadable dataset, recommended fields

tax_year, metric (net_capital_gain_less_loss, taxable_net_gain, net_short_term_gain, realized_gains, cap_gains_tax_revenue), agi_band, number_of_returns, amount_usd_thousands, share_of_total_pct, top_statutory_rate, combined_top_rate_with_niit, geography, source, source_url, is_estimate.

Press summary (about 150 words)

U.S. capital gains taxation remains steeply concentrated at the top of the income distribution, according to IRS Statistics of Income data for Tax Year 2022. Individual returns reported $1,240.9 billion in net capital gain, down 38.9% from the $2,032.6 billion reported for 2021, when realizations hit a record $2.07 trillion, about 8.7% of GDP. Returns reporting AGI of $1 million or more captured 68.4% of taxable net gain, and the roughly 25,000 returns reporting $10 million or more, about 0.016% of all filers, captured 39.5%. Long-term gains are taxed under a preferential 0/15/20% schedule, plus a 3.8% Net Investment Income Tax whose $200,000/$250,000 thresholds have not moved since 2013. The Joint Committee on Taxation estimates the preferential rate will cost $1,253.0 billion over fiscal years 2025 to 2029, the second-largest individual tax expenditure. The top combined federal rate is 23.8%.

Suggested headlines

1. Top 0.016% of Filers Reported 39.5% of Taxable Capital Gains in 2022, IRS Data Shows
2. Capital Gains Realizations Fell 38.9% After 2021’s Record $2 Trillion, IRS Reports
3. The $1.25 Trillion Break: What the Preferential Capital Gains Rate Costs Through 2029
4. Millionaire Returns Captured 68% of U.S. Capital Gains in 2022
5. The 3.8% Tax That Hasn’t Changed Since 2013: Inside the Net Investment Income Tax

FAQs

1. How much in capital gains did Americans report in 2022? $1,240.9 billion in net capital gain (less loss) on individual returns (IRS SOI, TY2022).
2. When did realized gains peak? Calendar year 2021, at a record $2,073.7 billion, about 8.7% of GDP (CBO).
3. What share goes to the top? Returns with AGI over $1 million reported 68.4% of taxable net gain in TY2022 (IRS SOI).
4. How concentrated at the very top? About 25,000 returns with AGI of $10 million or more reported 39.5% of taxable net gain in TY2022 (IRS SOI).
5. What are the 2026 capital gains rate brackets? 0% up to $49,450 (single) / $98,900 (MFJ); 15% up to $545,500 / $613,700; 20% above (IRS Rev. Proc. 2025-32).
6. What is the top combined federal rate? 23.8%, the 20% statutory maximum plus the 3.8% NIIT, in effect since 2013 (Treasury OTA; IRS).
7. Who pays the 3.8% NIIT? Filers with MAGI over $200,000 (single) or $250,000 (married joint); thresholds unindexed since 2013 (CRS).
8. How much revenue do capital gains taxes raise? An estimated $206.6 billion in 2024 and $260.6 billion in 2025 (CBO/Treasury compilation).
9. How large is the tax expenditure for preferential rates? A projected $1,253.0 billion over FY2025 to 2029 (JCT, JCX-45-25).
10. What was the highest modern capital gains rate? 39.875% during 1976 to 1978 (Treasury OTA; Wolters Kluwer).

Sources

1. Internal Revenue Service, Statistics of Income, Individual Income Tax Returns Complete Report (Publication 1304), Tax Year 2022. https://www.irs.gov/pub/irs-pdf/p1304.pdf
2. Internal Revenue Service, SOI Tax Stats, Sales of Capital Assets Reported on Individual Tax Returns. https://www.irs.gov/statistics/soi-tax-stats-sales-of-capital-assets-reported-on-individual-tax-returns
3. Campbell, C., Robbins, J. A., Wylde, S., “The Distribution of Capital Gains in the United States,” IRS SOI working paper, December 2024. https://www.irs.gov/pub/irs-soi/25rpdistcapgain.pdf
4. Congressional Budget Office, “CBO’s Projections of Realized Capital Gains Subject to the Individual Income Tax,” February 2023. https://www.cbo.gov/publication/58914
5. Congressional Budget Office, “The Budget and Economic Outlook: 2025 to 2035,” January 2025. https://www.cbo.gov/publication/61172
6. Joint Committee on Taxation, “Estimates of Federal Tax Expenditures for Fiscal Years 2025-2029,” JCX-45-25, December 2025. https://www.jct.gov/publications/2025/jcx-45-25/
7. U.S. Treasury Office of Tax Analysis, “Taxes Paid on Long-Term Capital Gains, 1977-2014.” https://home.treasury.gov/system/files/131/Taxes-Paid-on-Long-Term-Capital-Gains.pdf
8. Congressional Research Service, “The 3.8% Net Investment Income Tax: Overview, Data, and Policy Options,” IF11820. https://www.congress.gov/crs-product/IF11820
9. Internal Revenue Service, “Questions and Answers on the Net Investment Income Tax.” https://www.irs.gov/newsroom/questions-and-answers-on-the-net-investment-income-tax
10. Internal Revenue Service, “IRS releases tax inflation adjustments for tax year 2026” (Rev. Proc. 2025-32). https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill
11. Tax Foundation, “2026 Tax Brackets.” https://taxfoundation.org/data/all/federal/2026-tax-brackets/
12. Tax Foundation, “Historical Federal Capital Gains Tax Rates and Collections, 1913-2025.” https://taxfoundation.org/data/all/federal/federal-capital-gains-tax-collections-historical-data/
13. Wolters Kluwer, “Historical Capital Gains Rates.” https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-capital-gains-rates
14. Tax Policy Center, “What are the largest tax expenditures?” https://taxpolicycenter.org/briefing-book/what-are-largest-tax-expenditures

Related research

More original, sourced datasets from The Ledgerism Brief:

• Estate & Gift Tax Report — Exemptions, taxable estates, and revenue.
• 401(k) & Retirement Plan Report — Plans, participants, assets, and limits.
• The Crypto Tax Report — Digital-asset taxation and 1099-DA reporting.