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Stock tax help, its simple really!?
If you invest $100 and you sell for lets say $130, do you get taxed on the $30 or the $130? Whats the tax rate?
3 Answers
- jeff410Lv 71 decade agoFavorite Answer
You only get taxed on the $30 you made. The rate you pay on that $30 depends on your tax bracket and how long you held the stock.
If you held it less than a year you pay taxes at your normal tax rate.
If you held it more than a year you pay no taxes if you are in the 10 or 15 percent tax bracket. And 15 percent in all higher brackets.
- rtfmLv 71 decade ago
You get taxed only on the profit you make. The tax rate is whatever rate you currently pay on the rest of your income ... the $30 would just be added to everything else you earned during the year.
