The modifications in taxation of long-term capital gains in the Taxpayer Relief Act of l997 changed, in several respects, the way long-term capital gains are taxed. In addition to changes in tax rates, and the holding period (which was returned to the former requirement of more than one year effective for taxable years ending after December 31, 1997) the 1997 legislation imposed new rules on the taxation of gain representing depreciation claimed on Section 1250 property at a 25 percent rate.
"New Capital Gains Rules,"
Agricultural Law Digest: Vol. 10
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol10/iss3/1