Now this is all added after the year is over whichever stocks you sold. So if it totals whatever is then taxed. Just get an accountant they only cost like $100.
>>>>>>>>>>>>>>>
You can use sharebuilder which provides relatively low cost trades with a nice suite of tools that are useful to the novice investor. At $6.95 per trade, no account minimums, and no penny stock fees, Sharebuilder is another great option for the penny stock investor.
If you have owned a stock for a year and a day, the gain from selling is considered a long term gain taxed at 15% but, if you're a higher income earner - 20%. If you hold the stock for less than a year, the gain is taxed as ordinary income at your regular income tax rate. If you have a brokerage account, you will receive 1099 info at the end of the year.
These days your broker will keep track of everything and you don't have to worry about it.
I use sharebuilder, and I have never sold and made money on stocks.....
With that being said, I never had to mess with capital gains. So, if this year, if I sell stocks what do I have to think about? Is there short term and long term? Is long term capital gains taxes going to always be there, or is there a cut off length? What is the length for short term?
What are the percentages? Is it a fixed rate, or does it depend on my tax bracket?
Do I need to keep track of what a buy and sell, and my loss and gains? or will the tax paper at end of year have all the info? Even if I buy and sell 100 times a year?
