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ABW Stock Exchange: All Things Investing

If I've asked this before my bad but I cant remember..

If you buy a stock and the price goes up a bunch... you sell half and with the profits from what you sold you reinvest in something else... do you still have to pay taxes on the profit from the half you sold?

Or is it only taxable once you withdraw to your bank account?
 
Inori said:
If I've asked this before my bad but I cant remember..

If you buy a stock and the price goes up a bunch... you sell half and with the profits from what you sold you reinvest in something else... do you still have to pay taxes on the profit from the half you sold?

Or is it only taxable once you withdraw to your bank account?
Click to expand...

From what I understand the gains on the sale are taxed, it doesn’t really matter what you withdraw
 
Inori said:
If I've asked this before my bad but I cant remember..

If you buy a stock and the price goes up a bunch... you sell half and with the profits from what you sold you reinvest in something else... do you still have to pay taxes on the profit from the half you sold?

Or is it only taxable once you withdraw to your bank account?
Click to expand...
Once u sell the stock u pay taxes on it regardless of what u do with the profits.

U can go all year never withdrawing funds and reinvesting any amount of it ull still have to pay taxes the second u hit Sell
 
Rubato said:
From what I understand the gains on the sale are taxed, it doesn’t really matter what you withdraw
Click to expand...

ChicagoFigure said:
Once u sell the stock u pay taxes on it regardless of what u do with the profits.

U can go all year never withdrawing funds and reinvesting any amount of it ull still have to pay taxes the second u hit Sell
Click to expand...

damn... and that's one of the main reasons I tend to stay away from short sales for now.

My understanding(I'm still learning) is that long term shares and short term shares are taxed differently
 
Inori said:
damn... and that's one of the main reasons I tend to stay away from short sales for now.

My understanding(I'm still learning) is that long term shares and short term shares are taxed differently
Click to expand...
According to this you're right

www.nerdwallet.com

Taxes on Stocks: How They Work, When to Pay - NerdWallet

Investing in stocks is a great way to build wealth, but don't let taxes on stocks take you by surprise. Here's a guide to understanding taxes on stocks.
www.nerdwallet.com www.nerdwallet.com

But short term is considered anything held less than a year.
 
ChicagoFigure said:
Came across this on FB:
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This for Nokia too?

EDIT: that AMC post must be true cuz on robin hood you can only buy 1 share of it now ?
Luckily for they bitch ass, I already bought some last week.
tenor.gif
 
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AZTG said:
@silverfoxx

Fam, you at like 2500% profit if you bought st 1.37.

Dont listen to these mfers. Sell that shit, pocket your money.

Anyone here who been investing for a long time will tell you the same shit.

Grab your profit. Who cares if it gets to $400-$500?

You dont risk being up 2500% for another few hundred percent potentially.

You grab the for sure 2500%.

Go with your instincts when its all said done.

Just saying if im you, ill sell and go to sleep happy tonight. And if it continues going up, it dont matter. You made out incredible.
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Something told me to come in here to see if y'all were talking about this shit.

@silverfoxx I'mma cosign @AZTG : Sell, sell, sell and get ya money fam.

I got in on AMC and Nokia on the hopes that they run it the fuck up. I got in with what I could afford to lose, so not many shares.

Don't let me see them WSB niggas run either of them shits up no 2500% from where it's at now, I'm cashing out without even thinking. Ain't gonna be none of that "well, maybe it'll go up tomorrow" b.s. If, towards the end of trading Monday, I see that shit done blew the fuck up, I'm getting out before trading closes. Let them WSB niggas do all that "sticking it to the man" shit, I'm in it to make money.
 
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Sion said:
Yes you will have to report capital gains tax which in North America is 50% of the profit.



The longer you hold shares in something for yes the lower the tax you'll pay. Also depends on the state or country you live in as well. Generally the time period is 2 years.
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Lawd 50% ?! Thats crazy.

I wonder if we should have a separate thread on how to pay the least amount of taxes dealing with stocks/capital gains while still having your ass covered lol
 
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