taxes






 

Question by  sarahk (12)

How much are the taxes on a stock transaction?

 
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Answer by  flamiss22 (5081)

Whenever you sell stocks you will be given a copy of the transaction. This will list your requirements on taxes that are due. Come tax time you will be sent a form for the taxes that you will have to pay. Ususally there is a penalty that is based on the sale price.

 
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Answer by  Chaneygirl (1755)

It is impossible to tell based on the information provided. You pay tax on the difference between what you paid for the stock and what you sold it for. Stocks held for more than one year are generally taxed at a lower rate than stocks sold short term. Your tax rate on stock sales will vary with your tax rate.

 
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Answer by  cgroverla (516)

US taxpayers who sell stock pay income tax on the gain. If the stock was held for one year or less, the gain is taxed the same as wages. If the stock was held for more than one year, or was inherited, the gain is taxed at a maximum rate of 15%.

 
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Answer by  Att4372 (1704)

The transaction itself is taxed at several cents per sale. This is the SEC transaction tax. Income tax is due on the gain, if any. For long term, the tax is currently zero on approximately $35,000 of income and 15 percent on income above that. Short term is taxed at bracket rates.

 
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