Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 07:43 AM. | Search:

» StockRants Stock Forum » General Forums » Trading Questions » Capital gains question



Reply
 
Thread Tools Search this Thread
Old 06-28-2020, 05:24 PM   Nav to Top  #1
Steel
Junior Trader
 
Steel's Avatar
 
Join Date: Jun 2020
Location: Usa
Posts: 1
Favorites: Aapl goog tsla
Rep Power: 1
Reputation: 10
Steel is on a distinguished road
Default Capital gains question

Question on the short term capital gains tax. For example, If you sell stock XYZ at a profit of $100,000 and reinvest all profit into another stock, ABC, you are still charged the short term capital gains tax rate? Short term capital gains is charged instantly upon sale, correct?
So in my above example, you’d be expected to pay 15-20,000 in taxes on $100,000 profit regardless if all of the proceeds are straightaway invested in another stock?

I was reading that there were some provisions, if reinvesting profit into other like capital properties, but I dont think stock trading is afforded the same luxury

I was considering moving profit from one stock to buy large volumes of shares of another lower priced stock, but if the above is true, its either hold off or allocate the tax $ from any profitting sale, thus affected total amount of new shares that can be purchased.

Appreciate any insights.
Steel is offline   Rate this post Yes | No Reply With Quote
Reply

Similar Threads
Thread Thread Starter Forum Replies Last Post
Strong Buy: NHPI Strong Buy Big Gains Moregainz US Penny Stock Picks 0 02-13-2013 05:33 PM
EUR/USD Gains on U.S. Outlook FxTT Forex Trading 0 03-26-2012 04:01 AM
Watch: EFLN for big gains Stocktip101 US Penny Stock Picks 0 08-17-2010 02:44 PM
CAPITAL GAINS TAX shabiha Traders Lounge 53 10-11-2009 08:14 AM
Anyone here have a good grasp of Canadian capital gains tax? Spinner Traders Lounge 18 07-21-2009 09:58 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On