- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
capital gains tax question
Posted on 11/24/14 at 12:30 pm
Posted on 11/24/14 at 12:30 pm
I have about 33k in LNGLF stock right now that i bought in January for 3k. Im trying to figure out how much I would owe in taxes if I sold it right now vs waiting until January. Ive been doing some googling to read up on it but it is making my head spin. Can anyone explain it to me in layman's terms?
3
Posted on 11/24/14 at 12:31 pm to Chuckd
As income assuming make decent money. So it depends on how much money you make.
Posted on 11/24/14 at 12:36 pm to Janky
.
This post was edited on 12/17/14 at 7:03 pm
Posted on 11/24/14 at 12:43 pm to Chuckd
Long term cap gains you will get taxed at 15%, short term cap gains you will be taxed at 25%.
https://www.bankrate.com/finance/taxes/tax-brackets.aspx
https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Guide-to-Short-term-vs-Long-term-Capital-Gains-Taxes--Brokerage-Accounts--etc--/INF22384.html
What type of account is it in? Because that could make a difference.
https://www.bankrate.com/finance/taxes/tax-brackets.aspx
https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/Guide-to-Short-term-vs-Long-term-Capital-Gains-Taxes--Brokerage-Accounts--etc--/INF22384.html
What type of account is it in? Because that could make a difference.
This post was edited on 11/24/14 at 12:45 pm
Posted on 11/24/14 at 12:44 pm to Chuckd
Stocks held less than one year and are sold will have the gains taxed at your normal income rate (whichever tax bracket you fall in)
Gains for stocks held over one year are taxed at the long term capital gains rate (probably 15% unless your income is over $400k)
Gains for stocks held over one year are taxed at the long term capital gains rate (probably 15% unless your income is over $400k)
Posted on 11/24/14 at 12:48 pm to Retrograde
its just a regular etrade account. not sure what type. does it make it difference that i plan on immediately reinvesting ?
Posted on 11/24/14 at 12:51 pm to Chuckd
Nope. What is sold is sold. Do you not have some other holdings that maybe you could sell at a loss?
Posted on 11/24/14 at 12:54 pm to Chuckd
quote:
its just a regular etrade account. not sure what type. does it make it difference that i plan on immediately reinvesting ?
No. If it is a brokerage (not IRA/401k), then the main issue here is simply the one year hold. If you sell now, you basically just add the gain to your wages (which of course include over time).
You are likely looking at paying $3k more in taxes by selling now rather than in January, after you have held for one year (to the day).
Posted on 11/24/14 at 12:59 pm to Chuckd
keep it over a year, baw
Posted on 11/24/14 at 1:00 pm to OceanMan
Thanks. so what am i looking at ? 30% ?
Posted on 11/24/14 at 1:03 pm to Chuckd
prolly 25%-28%
Posted on 11/24/14 at 1:04 pm to Janky
25%. Look at the links in my earlier post.
Posted on 11/24/14 at 1:09 pm to Chuckd
25% if filing joint at 110,000/year.
15% if you just hold on.
30,000 x .25=$7,500
30,000 x .15=$4,500
Others have said exactly the same thing. Shouldn't be too tough of a decision if you believe LNGLF will hang on for a bit longer...
15% if you just hold on.
30,000 x .25=$7,500
30,000 x .15=$4,500
Others have said exactly the same thing. Shouldn't be too tough of a decision if you believe LNGLF will hang on for a bit longer...
This post was edited on 11/24/14 at 1:10 pm
Posted on 11/24/14 at 1:14 pm to bayoubengals88
i believe it will hold on but i'm trying to hop on another stock that is taking off pretty quick.
thanks for the help guys.
thanks for the help guys.
Posted on 11/24/14 at 1:47 pm to Chuckd
quote:
Thanks. so what am i looking at ? 30% ?
Prob more like 25%
Posted on 11/24/14 at 1:49 pm to Chuckd
quote:
believe it will hold on but i'm trying to hop on another stock that is taking off pretty quick.
Smart move, but if it is a cash flow issue, you don't have to sell your entire position if you just need to free up some now to buy.
Posted on 11/24/14 at 3:11 pm to OceanMan
And this is where I always chime in: the best charitable gift (from a tax perspective) is a gift of highly appreciated stock. You avoid the capital gains taxes, you get the charitable deduction of the present value of the stock, and everybody (you & the charity) wins! So if you are thinking about making a year end gift to LSU Foundation or any other charity, MAKE A GIFT OF APPRECIATED STOCK.
Posted on 11/24/14 at 3:15 pm to hungryone
quote:
And this is where I always chime in: the best charitable gift (from a tax perspective) is a gift of highly appreciated stock. You avoid the capital gains taxes, you get the charitable deduction of the present value of the stock, and everybody (you & the charity) wins! So if you are thinking about making a year end gift to LSU Foundation or any other charity, MAKE A GIFT OF APPRECIATED STOCK.
quote:
i believe it will hold on but i'm trying to hop on another stock that is taking off pretty quick.
Posted on 11/24/14 at 3:23 pm to hungryone
I'd rather pay the taxes and keep the cash
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News