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Chris asked in Business & FinanceInvesting · 4 weeks ago

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? 

13 Answers

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  • 4 weeks ago

    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
    Lv 7
    4 weeks ago

    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.

  • Anonymous
    4 weeks ago

    You pay taxes on any capital gains reported on the 1099 THEY SENT YOU IN THE MAIL.  Moron.

  • 4 weeks ago

    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.

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  • kswck2
    Lv 7
    4 weeks ago

    Everyone you made a profit on, yes. 

  • 4 weeks ago

    Yes.  And you are not allowed to pay the same percentage on all of them.  You have to calculate the "gain" (selling price minus basis) or "loss" (basis minus selling price), and up the total and then do some more math.  It's not a uniform percentage.

  • Steve
    Lv 6
    4 weeks ago

    Yes. Its a reality that everyone who makes a profit on stocks must face. Deal with it. For a short term held stock, expect the tax % of between 20 and 30. Though it depends a lot on your tax bracket. Just save to pay.

  • fcas80
    Lv 7
    4 weeks ago

    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,.

  • 4 weeks ago

    You have income on every stock that becomes "cash", regardless of whether the "cash" sits in your robinhood account, you transfer it to your bank account, or you took it as cash and spent it at McDonalds.

    "I am day trading" = no you aren't. 

    A day trader who knows anything wouldn't use a free trade app where the trades are manipulated in favor of the brokerage, not the investor.

    = You are throwing a dart at a dart board and you have no idea what you are doing.  If you did, you wouldn't use a free trade app and you would understand how investment taxation works. 

  • Anonymous
    4 weeks ago

    You'll probably owe short term capital gains on every sale that returned a profit if you are day trading. Here is a calculator to see what you will owe: https://smartasset.com/investing/capital-gains-tax... It doesn't matter if you withdrew it or not, you still owe the tax on every sale if you don't trade inside an IRA account. Also be aware of wash sale rules that could make some losses ineligible to claim a deduction on.

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