LogFAQs > #950026399

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Topic	Stock Market General #8
2Pacavelli 01/28/21 4:51:44 PM #390:	PatrickMahomes posted... Idk if anyone knows this but I only profited like $50 from all this. I have yet to cash out anything and still have a few hundred in the portfolio on RH. Is there tax that has to be paid on that $50 if I cash out? Or is there like a profit minimum threshold where you don't actually get taxed? Probably nothing. Capital gains on very large amounts short term is 34% Max so 34% of that 50 profit. But I hear the taxes are even less in small amounts of profit <cite>2Pacavelli posted [p:950026399] in Stock Mark... [t:79264805]...</cite> <quote>PatrickMahomes posted... </cite> <quote>Idk if anyone knows this but I only profited like $50 from all this. I have yet to cash out anything and still have a few hundred in the portfolio on RH. Is there tax that has to be paid on that $50 if I cash out? Or is there like a profit minimum threshold where you don't actually get taxed?</quote> Probably nothing. Capital gains on very large amounts short term is 34% Max so 34% of that 50 profit. But I hear the taxes are even less in small amounts of profit </quote> ... Copied to Clipboard!
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