|
|
| *Ostroff, Fair and Company>>>Other Taxes |
How do you treat gain from sale of shares of stock? |
How do you treat gain from sale of shares of stock? you will have to treat them good You have too pay income tax on the profit. You report the gain on schedule D of the 1040. If you held the stock for less than a year and a day then you pay tax on the profit at your ordinary income tax rate. If you owned the staock for at least one year and a day you pay tax on the profit at the long term capital gain rate. For most people the long term capital gains tax rate is 15% it could be as low as 5% if you are in a lower tax bracket for ordinary income. As an income, unless you got them for one of your birthdays before you turned 18, then its all yours. If you got them after your 18th birthday, then pay up. Government considers it income and taxable. From personal experience. |
| Tags |
| Other - Business & Finance Other Taxes United States Taxes United Kingdom Taxes Spain Taxes Singapore Taxes Mexico Taxes |
Finance Categories--Copyright/IP Policy--Contact Webmaster |