Wednesday, February 22nd, 2017

when are the taxes taken out in stock trading?

Then say I buy and sell a stock Later making a profit of 100 dollars. When Would the taxes on my profit Be taken from me, When I sell the stock or at the end of the year?

Comments

3 Responses to “when are the taxes taken out in stock trading?”
  1. Marco R says:

    end of the year when you pay your taxes

  2. muncie birder says:

    On stock transactions, you are responsible for making the tax payments. Nothing is actually taken out. If you make a significant amount of money, more than $100, you will have to file a quarterly estimated tax payment to the government or face a penalty. If all you are talking about is $100 don’t worry about it. If however you should be lucky enough to make a gain of $10,000 then you will need to send in your quarterly estimated taxes.

  3. Yardbird says:

    You pay taxes only when and if you sell a stock for a profit; it’s called capital gains tax, and you report any capital gains on your tax return at the end of the year. If you sell a stock for a loss you can take a tax write-off.

    Your stock broker will not deduct taxes. You are responsible for reporting the capital gains.

    Stock Dividends are also taxable.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

*