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Stocks and Taxes; Pay taxes if stocks sold for loss?
I'm new to online stock trading. I'll make it simple. Last year I bought $400 worth of stocks. I sold $350 worth. Do I have to pay taxes on the ones I sold even though overall I lost money?
Thank you all for the answers. I should clarify that the net loss was not from sale of any single security. It was mixed. Do I have to separate out the losers, and pay taxes on the winners? HELP
2 Answers
- Anonymous1 decade agoFavorite Answer
No, you write off the loss on this sale against gains on other investments or (up to $3000) against income.
Form 1040 Schedule D
- george 2Lv 61 decade ago
lets say for 400 dollars you got 400 hundred shares of stock. that's 1 dollar a share. now lets say the same 400 shares were worth 350 when you sold. you lost 50 dollars. that's what you subtract off your gross because you lost 50 you need to fill out i believe its called a schedule d form to put all of this down..
