Do I have to pay on every stocks I sold? ?
Do I have to pay tax on every stocks I sold but I didnt withdraw it on robinhood app? For example I am day trading, how much percentage should I pay on every stock I sold?
Do I have to pay tax on every stocks I sold but I didnt withdraw it on robinhood app? For example I am day trading, how much percentage should I pay on every stock I sold?
Ron Akia
If you sold stock and earned a profit on the sale, you owe taxes on those profits. However, you can also subtract your losses on sales as well. As to the percentage, it depends on your income and tax bracket.
Amy
Only if they made a profit. Given this demonstration that you have no idea what you're doing, I doubt you made a profit.
You have to report all stock transactions on your tax return, including how much you paid for it and then how much you sold for on what date. Your profits and losses get added together.
If there is a net profit, you include it with your other types of income (e.g. salary) to calculate the tax owed. Most people are in the 22% or 24% tax bracket.
Jerry S
all your stock transactions are reported to the IRS by the brokerage firm that you
are using. Taxes must be paid on all stock gains you have made. The only way
around that is if you have losses to offset your gains.
kswck2
Everyone you made a profit on, yes.
fcas80
If you sell a stock and make a profit, that is a capital gain that is taxable. Such a transaction is easy for the IRS to verify if they choose to do so,.