Here's some good news: For those of you looking down the horizon, the new 5% capital gains rate will be reduced to 0% (that's right -- nada, nothing, zilch!) in 2008.
But don't get too excited. All these new tax provisions sunset after 2008. Unless these changes are made permanent before then, the tax law will revert back to the way it was before the passage of the 2003 Tax Act. We still have a few years before the sunset provisions kick in, but remember that those provisions are out there.
Here ya go Krissy!
Fool.com: New Capital Gains Tax Rates [Tax Q&A] June 13, 2003