Stay updated with breaking news from ராபர்ட் கான்ஸ்வ். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The many question marks around tax planning accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Long-term vs. short-term capital gains A stock sale results in either a gain or a loss, and your brokerage will send you a 1099-B form that you’ll need to file your taxes. The form lists basic information about your stock sale, such as the date when you sold the stock and the “basis” for the shares, which is the price you paid for the stock. That will help you compute your capital gains tax. The amount of tax you’ll pay will depend on two things: The length of time you held the stock and your income. “If you held it over a year and sold it, then it s long-term capital gains tax,” says Robert Conzo, a certified financial planner and CEO of The Wealth Alliance, an investment advisory firm with about $1 billion in assets under management. “If it s less than a year, it s short-term capital gains tax.” ....