1. Which is not true of taxes on long-term capital gains? a. Taxes apply to assets held for 12 months or more. b. Taxes are based on your marginal tax rate. c. Taxes are restricted to a 15% maximum....

1. Which is not true of taxes on long-term capital gains?

a. Taxes apply to assets held for 12 months or more.

b. Taxes are based on your marginal tax rate.

c. Taxes are restricted to a 15% maximum.

d. Taxes are restricted to only 5% for lower-income taxpayers.