| Author |
Message
|
| Stacy9402 |
 Posted: Fri Feb 11, 2005 7:26 am Post subject: taxes on stocks |
 |
|
Investing Associate
|
| Do you have to pay taxes on stocks? What about if you cash out a big stock will the Irs take most of it? |
|
| Back to top |
|
 |
| indallas2 |
| Posted: Fri Feb 11, 2005 7:37 am Post subject: Re: taxes on stocks |
|
|
Investing Associate
|
| Stacy9402 wrote: | | Do you have to pay taxes on stocks? What about if you cash out a big stock will the Irs take most of it? |
I've sold stocks, it depends on whether or not you actually pull the money out - if you pull money out prematurely it's usually 10% of whatever you pulled out as taxes. |
|
| Back to top |
|
|
| Stacy9402 |
| Posted: Fri Feb 11, 2005 7:48 am Post subject: |
|
|
Investing Associate
|
| So if you don't do it prematurely it won't get taxed.. |
|
| Back to top |
|
|
| indallas2 |
| Posted: Fri Feb 11, 2005 8:20 am Post subject: |
|
|
Investing Associate
|
| Stacy9402 wrote: | | So if you don't do it prematurely it won't get taxed.. |
I think that is right. I know that I've had to pay 10% of the money that I pulled out of my retirement account prematurely last year.
Are you talking about stocks that are bought through a retirement account? I think I'm confused. |
|
| Back to top |
|
|
| hhbcbear |
| Posted: Fri Feb 11, 2005 8:52 am Post subject: |
|
|
Investing Associate
|
| Don't you only have to pay taxes on profit? |
|
| Back to top |
|
|
| trixiezzz |
| Posted: Sat Feb 19, 2005 6:02 am Post subject: |
|
|
Investing Manager
|
| And the capital gains tax rate is not the same as your personal Federal Income tax rate. |
|
| Back to top |
|
|
|
|
stock market game on the web. At eInvesting you compete for monthly cash prizes while you interact, make virtual dollars, purchase items, and trade in the realistic stock market simulator. We make investing FUN!
