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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 12:44 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 12:59 pm to Chuckd
keep it over a year, baw
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