posted
How much of your profits are collected for taxes? I've heard that if you hold a stock for less than 1 year, it is 30% - 40%. Is that accurate, and if so, are there any other tax related issues that a new trader needs to know about?
Thanks for your comments.
-------------------- -------------- PHBT all the way Posts: 162 | From: USA | Registered: Mar 2006
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posted
I dunno if this is accurate since I just started trading this year, but I thought if you had a stock less than a year and a day the tax would be whatever tax bracket you are in. A stock held over a year and a day would be 15% taxed if your tax bracket is 25% or higher. Being in a lower tax bracket means you pay only 5% tax on a stock owned longer than a year and a day. Hope this helps and if I am incorrect someone please post what is correct. Thanks
Posts: 13 | From: Canton, OH | Registered: Nov 2005
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