Posted by Dave T on April 30, 1999 at 16:01:31:
Since you did not identify the state you are interested in, I suggest that as a generality, the states follow the federal rules on capital gains treatment. You should obtain your local state rules from the State Department of Revenue.
As for federal capital gains rules and rates, since you didn’t provide a specific situation, it may not be possible to effectively and correctly answer your question in a brief response. Suggest you refer to IRS Publications 17, 537, and 544 for the correct capital gains treatment for your particular circumstances.
The IRS Publications may be viewed online at http://www.irs.ustreas.gov/cover.html