In 1997, when Congress revamped the capital gains rules for eligible property, the maximum rate on net long-term capital gains for an individual was reduced from 28 percent to 20 percent. In addition, the rate for any net long-term capital gain which would otherwise be taxed at 15 percent was reduced to a 10 percent rate.
Harl, Neil E.
"Applying the New Capital Gains Rules,"
Agricultural Law Digest: Vol. 12
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol12/iss23/1