[jonathankoren]

Typically you have to hold assets for a year for them to be taxed as capital gains. Otherwise it's just normal income, which caps out at 37%. Capital gains maximum rate is 20%.

[bretpiatt]

37% for Federal plus State tax and CA taxes cap gains, both short and long the same. Very possible to end up at ~50% rate in CA.

[loeg]

Pedantically, the max cap gains rate is 23.8% with NIIT. (Also, these are the federal tax brackets; states can and mostly do impose additional taxes on both income and capital gains.)