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Capital Gains
Edwards Finance > Capital Gains
Capital Gains Tax
I am new to online trading and have some questions:
1 When is it payable
2 How do I pay it
3 Is it payable only on profit made by selling shares and transfering funds
out of my trading account
4 Is it payable if I sell shares and make a profit but immediately use the
funds to buy more stock.
5 If answer to 4 is yes, how on earth is it worked out if I make alot of
trades, lets say 2-3 trades (or more) per week
6 I have lost on two of my stocks (last year). One is now wo...
capital gains on real estate
We're renting our present home that we've lived in for 9 years starting
April 1st. The rent covers the mortgage and the house will be paid off in 10
years. We live in Las Vegas where housing prices are climbing all the time.
I've heard it's best to sell the home in 3 years to avoid capital gains and
use the equity elsewhere.
- Is it true that you have to live in the home for 2 of the last 5 years to
avoid capital gains?
- If that's true, does it make more sense to sell the home...
Tax - Capital Gains queries
I've got a few questions that I've been puzzling over for some time now and
I'd greatly appreciate any help or advice to them.
Firstly, I've been reading up on capital gains tax. While I understand its
principle, I don't understand the rate which it is charged at.
What I'm getting at is this, capital gains tax is charged at the gain of
your capital on your income tax level.
So, someone who holds £100,000 of shares on the stock exchange, and has an
annual income of £5000 from ...
If I sell my home in the UK, and that sale goes through when I have
become a tax resident in the USA, do I need to pay capital gains tax
in either country?
If I sell my home in the UK, and that sale goes through when I have
become a tax resident in the USA, do I need to pay capital gains tax
in either country?Probably both. You should be able to use the foreign tax credit
in the US to offset (part of) the UK tax....
Inheritance Tax or Capital Gains Tax (UK)?
My father, our last surviving parent, died about a year ago. The value
of his estate was less than the threshold for inheritance tax.
My brother and I are sole beneficiaries and I am the sole executor.
We decided between us to spend some of the liquidated assets to improve
the property, mainly to increase its desirability so that it wold be
sold quickly.
We have now sold the property and partly because of market increases
and partly because of the improvements the value has increas...
capital gains count to state tax?
I live in California and I'm using TurboTax 2004. I sold a bunch of
stock this past year and paid a big chunk of estimated taxes to the IRS
to pay off the capital gains tax associated with the transaction. Now
I've entered everything into TurboTax and the federal tally seems
right, but when I go to my state tally it says I owe a huge amount of
money. It seems that the program is counting my capital gain as part of
my adjusted gross income and it thinks I owe a lot in income tax as a ...
1) Can long term capital gain offset short
term capital loss or vis vers?
2) How long is long term capital
gain (12 or 18 mos)?
1) Can long term capital gain offset short
term capital loss or vis vers?
2) How long is long term capital
gain (12 or 18 mos)?> 1) Can long term capital gain offset short
> term capital loss or vis vers?
Capital losses off-set capital gains. There is a hierarchy of off-setting
short term losses against short term gains, and long term losses against
long term gains, but then any remaining losses are off-set against any
gains in the other holding category, and then a...
Could someone tell me or direct me to a page that lists the
percentages for short term capital gains? I know you pay a higher
amount, but what is it, and what length constitutes a "short term"?
Could someone tell me or direct me to a page that lists the
percentages for short term capital gains? I know you pay a higher
amount, but what is it, and what length constitutes a "short term"?>>Could someone tell me or direct me to a page that lists the
>>percentages for short term capital gains? I know you pay a higher
>>amount, but what is it, and what length constitutes a "short term"?
>In the US, the dividing line is one year. Buy a stock or fund on
>(say) April 3 2002, sel...
captial gains tax on short-term investment returns
I'm a tax-law dummy. Can anyone help me understand how to mitigate the
confiscator tax rate on my short term capital gains for 1999?
captial gains tax on short-term investment returns
I'm a tax-law dummy. Can anyone help me understand how to mitigate the
confiscator tax rate on my short term capital gains for 1999?-I have no idea what a confiscator tax is, but short term capital
gains are taxed just like wages or interest or alimony.
-You could sell stock at a loss to off-set the gains, or hold the
investments for a longer time period (but it sounds like you already sold).
Greater than 12 months (366 days) ...
Could someone tell me or direct me to a page that lists the
percentages for short term capital gains? I know you pay a higher
amount, but what is it, and what length constitutes a "short term"?
Could someone tell me or direct me to a page that lists the
percentages for short term capital gains? I know you pay a higher
amount, but what is it, and what length constitutes a "short term"?>Could someone tell me or direct me to a page that lists the
>percentages for short term capital gains? I know you pay a higher
>amount, but what is it, and what length constitutes a "short term"?
In the US, the dividing line is one year. Buy a stock or fund on
(say) April 3 2002, sell it ...
How to minimize Capital Gains tax on Short Term and Long Term losses on stocks for this year and next
this year was pretty bad for me and im trying to reduce the pain by
taking advantage of offsetting my (potential) gains with my losses-
both short term and long term.
I have realised $6,000 Short Term Losses (STL) and $9,000 Long Term
Losses (LTL) this year when my Tech stocks tanked. I currently hold
some other stocks which i can sell and make a profit (Short Term Gain
of approx. $5,000) and some stock options that will only be vested in
Jan 2003 when i get laid off (Short Term ...
captial gains tax on short-term investment returns
I'm a tax-law dummy. Can anyone help me understand how to mitigate the
confiscator tax rate on my short term capital gains for 1999?
captial gains tax on short-term investment returns
I'm a tax-law dummy. Can anyone help me understand how to mitigate the
confiscator tax rate on my short term capital gains for 1999?-I have no idea what a confiscator tax is, but short term capital
gains are taxed just like wages or interest or alimony.
-You could sell stock at a loss to off-set the gains, or hold the
investments for a longer time period (but it sounds like you already sold).
Greater than 12 months (366 days) ...
Short-term vs. long-term capital gain
I have long-term capital gains from stock transactions last year, along
with a small short-term capital loss. Can I reduce the long-term gain by
the
amount of the short-term loss? I was under the impression that short-term
and long-term gains are taxed differently. Yet I noticed TurboTax
lumps both together, placing the net gain figure on the appropriate line
on my
1040 form.
Also, I thought that capital gains were taxed at a different rate than
ordinary
income. Again, th...
Short term capital gains tax question
Is the short term capital gains tax rate always 28% regardless of your tax
bracket, or is it the lesser of the two rates?
Anyone know what the short term capital gains tax rate is in
Massachusetts? Is this paid on top of the federal short term capital
gains tax? If it is, can this be deducted from the federal tax return?>Is the short term capital gains tax rate always 28% regardless of your tax
>bracket, or is it the lesser of the two rates?
Short term cap gains are taxed the s...
can real estate capital gains off set stock losses?
I sold my house and have to pay short-term capital gain taxes when I file.
I also have some stocks that I want to sale at a loss to cover the
short-term capital gains on the sell of the house. Can I do that?
The reason for the stock sale is that I do not think my stocks will ever
rebound. I just want to cut my stock losses and recoup what I can.
Any thoughts??-Sure, as long as you sell by 12/31.
- Maybe I got bad tax advice, but I was under the
impression that I could not ...
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