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4
votes
1answer
45 views

In the US, do brokers or mutual fund managers typically help clients calculate capital gains for tax purposes?

I realized the calculation may be a bit complex to do manually, specially when you buy/sell several times during the year at different prices, set dividend to "reinvest", etc. They should be able to ...
2
votes
1answer
42 views

How does tax withholding work for capital gains of selling stock?

I am new in the United States, and before I moved here I did not deal with the concept of tax withholding and capital gains tax. I understand my employer withholds part of my salary to pay taxes, and ...
1
vote
2answers
80 views

How are long term capital gains taxes calculated?

I currently am in the 15% tax bracket for 2014 as I am a college student employed as a summer intern. However, if I am hired as a full time employee by next year, I would move into the 25% tax ...
3
votes
1answer
117 views

Are futures options eligible for the 60/40 tax rule?

How are options taxed when the underlying asset is a futures contract. Futures contracts in the US have a favorable tax treatment known as the 60/40 rule, where 60% of profits are taxed at the long ...
0
votes
2answers
74 views

What if I don't have records of capital gains?

What should I do if I don't have adequate records of my capital gains in 2013? What is the best course of action to mitigate any potential issues from an IRS audit? I have yet to submit my tax ...
3
votes
3answers
193 views

Should I sell shares to buy a home so I avoid a mortgage? [closed]

I'll be retiring next year, and I want to be in my own home (aging-in-place). Should I sell stocks to buy it outright and thus avoid a mortgage as I move to a fixed income. But what about capital ...
4
votes
2answers
208 views

Long-term capital gain taxes on ETFs?

Sorry if this is a very novice question. I couldn't find it by searching here or Bogleheads (I'm not really a 100% Boglehead either). Let's say I hold $30,000 in an ETF called BMT (Big Mike's Tech). ...
2
votes
2answers
182 views

What does “no adjustments” mean?

On Form 8949, Part I, it says You may aggregate all short-term transactions...for which there are no adjustments directly in Schedule D without reporting them in Form 8949. What does it mean for a ...
3
votes
1answer
53 views

After a stock dividend, how do you calculate holding periods for capital gains taxes?

The scenario is: You own a stock for six months, and then the company issues a stock dividend — the business splits into two entities. Can you sell both stocks after 6 months and a day after ...
1
vote
1answer
239 views

Capital Gains in an S Corp

In this question about s-corp distributions, the answer was given that an s-corp taxes all profit as personal income. That is, there are neither distributions nor dividends which can be taxed at a ...
0
votes
1answer
124 views

Offsetting capital losses against gains for stocks

Let us say I hold 4 stocks in a non tax sheltered account Stock A has capital gain of 10$. Stock B has capital loss of 20$. Stock C has gain of 10$ but it is intra day, hence counted as income, not ...
1
vote
0answers
35 views

capital gains on oversea property for non-resident of Canada

I live overseas in Belize and have for over 5 years and other than my Canadian Passport I have no other ties to Canada. I'm considering selling my house in Belize and with the proceeds from the sale ...
2
votes
1answer
876 views

Return of value to shareholders in an ISA

Note I am situated in the UK. I hold a number of Vodafone of shares in a stocks and shares ISA. My broker has issued the following message to me: Vodafone has confirmed plans to sell its stake in ...
1
vote
2answers
221 views

Capital Gains Tax with Multiple 'buy' Transactions per Stock (U.S.)

Suppose the following (in the U.S.): On 2014-01-01 I buy a single XYZ stock for $100. On 2014-06-01 I buy an additional single XYZ stock for $500. On 2014-12-01 I sell a single XYZ stock for $900. ...
1
vote
1answer
322 views

Tax applicable on selling of agricultural land in India

My father now aged 65 years, had purchased the agricultural land in Gurgaon area (Farukh Nagar) in 1987. He sold this land in 2011 at Government circle rate. The money was received by demand draft. He ...
7
votes
1answer
163 views

Capital gains taxes on share of inherited property?

I along with my cousins just sold some real property located in in Quebec that was inherited from our grandfather to our parents, and then to us. I received a 1/8 share of the proceeds which amounts ...
3
votes
2answers
566 views

Minimize capital gains on sale of investment/rental property

I bought the property in 1979 for $40K. It was zoned R4 and was a duplex. Several years later, the city camein and did a blanket rezoning of the entire street to C-2. I shared the house/owner-occupied ...
2
votes
1answer
180 views

Capital Gains and Tax Brackets

Currently I am in a 25% Tax Bracket and I plan to sell stock and will incurr a capital gain of $200,000. Will this affect my marginal tax bracket? I know I will pay capital gains taxes on the ...
3
votes
1answer
5k views

Calculating capital gain tax on selling rental property I lived in for a while, and renovated?

I am finding it extremely difficult to get an answer to this question. I can understand if its not possible to give me an exact number but I am just trying to figure out, roughly how much I will be ...
3
votes
2answers
4k views

Tax implications of restricted stock units

Last May I had been with my company for a year so I got the first grant of restricted stock units (RSUs) that vest over 4 years. Based on this answer to a related question, I am thinking I should have ...