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Capital Gains question
Posted on 8/14/20 at 9:05 am
Posted on 8/14/20 at 9:05 am
This may be a stupid question.
Say I invested $5,000 in Stock A. Stock A has now double in value bringing total holding worth to $10,000.
If I wanted to get my “principal” $5,000 out, and just let the “house money” ride is the $5,000 somehow taxed when I sell some shares?
Say I invested $5,000 in Stock A. Stock A has now double in value bringing total holding worth to $10,000.
If I wanted to get my “principal” $5,000 out, and just let the “house money” ride is the $5,000 somehow taxed when I sell some shares?
3
Posted on 8/14/20 at 9:09 am to Covingtontiger77
you're thread title does not meet the standards of this board
please fix it
and to answer your question...yes, $2,500 of the $5,000 (50%) would be taxed at either the short term or long term capital gains rate, depending on the amount of time you held the stock.
please fix it
and to answer your question...yes, $2,500 of the $5,000 (50%) would be taxed at either the short term or long term capital gains rate, depending on the amount of time you held the stock.
Posted on 8/14/20 at 9:15 am to Covingtontiger77
Think of it like this... you bought 100 shares of stock A @ $50. The price of stock A then increased to $100. In order to pull out $5,000 you have to sell 50 shares of stock A. So you have a realized gain of $50 per stock - so $50 x 50 shares = $2,500 of taxable gains.
Posted on 8/14/20 at 10:31 am to Covingtontiger77
Yes you can do it in retirement accounts but I don’t believe you can do it in normal trading.
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