The 2014 capital gains tax rate varied according to taxpayers' income, ranging from 0 to 20 percent for gains on most investments held longer than one year. Gains on investments held for less than a year were taxed at the same rate as regular income, TurboTax notes.
Taxpayers who had a regular income tax rate of 10 or 15 percent did not incur capital gains tax in 2014. Taxpayers who had a regular tax rate of 25 to 35 percent incurred a 15 percent capital gains tax rate. Individuals in the highest income tax bracket of 39.6 percent owed a 20 percent capital gains tax, according to the Internal Revenue Service. Gains on collectible art were taxed at 28 percent, regardless of income.