Schedule D Capital Gains and Losses
Long-term capital gains taxes are a tax on profits from the sale of an asset held for more than a year. The long-term capital gains tax rate is 0%, 15%, or 20%, depending on your taxable income and filing status. Long-term capital gains tax rates are generally lower than short-term capital gains tax rat
This schedule is split between short-term and long-term gains.
Part I Short-Term Capital Gains and Losses - Generally Assets Held One Year or Less
Short-term gains are treated as ordinary income, meaning it's taxed at the income tax rate you fall into.
Part II Long-Term Capital Gains and Losses - Generally Assets Held One Year or Less
Long-term gains have a preferable tax treatment. This means you held onto an investment for at least a year before you sold it. Any gains typically have a lower tax rate.
The gains are combined and depending on the blend of short-term and long-term, it'll be treated differently.
If you had capital losses, you are always limited to $(3,000) a year. Any loss is carried forward for you to use in future tax years.
Part III Summary
The second page (Part III) shows the breakdown of how the IRS determines the taxability of the mixed gains/losses.