Long-term capital gains (LTCG) and losses (LTCL) are combined to determine the net long-term capital gain or loss for the year. A net capital loss is not deductible against Future income Prior income Section 179 income Ordinary income A special long-term tax rate of applies to all gains and losses on collectibles reported on Schedule D. Collectibles include works of art, rugs, antiques, metals (gold), gems, stamps, coins, alcoholic beverages and other certain tangible property. 10% 18% 20% 28%