[ 485 ] Economics GED ® TEST SOCIAL STUDIES FLASH REVIEW • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Capital gains tax is money paid to the federal government out of profits from the sale of financial assets, like property (land or buildings) or stocks. For which of the following would you need to pay capital gains tax? a. cigarettes b. groceries c. your mortgage d. a profitable real estate sale
