Quote:
Originally Posted by foxfire123
Question, if you don't mind me hijacking the tread a bit.
What kind of long term capital gains taxes can I expect on a sale of stock purchased for about $1380, with a net gain of about $4180. 15% tax bracket (thank goodness for being poor! lol!)
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I'm gonna dive in here possibly over my head, but I believe it would simply be 15% of your profit, which is $627. Correct me if I'm wrong, but everyone pays 15 percent on long term capital gains (in your example you would have had to own the stock for over 1 year), no?