LogFAQs > #950026480

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Topic	Stock Market General #8
Jagr_68 01/28/21 4:54:01 PM #394:	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? It depends on your income level + either of these (short term means higher rate btw) Long term capital gains tax = stock owned for 1 year and a day or longer <-----0% tax penalty if you make less than 40k/year Short term capital gains tax = stock owned for < 1 year --- New York Rangers [2004-2008] https://media.giphy.com/media/WvQHBYW0q4TuxdAg61/giphy.gif https://psnprofiles.com/Jaromiroquai68 <cite>Jagr_68 posted [p:950026480] 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> It depends on your income level + either of these (short term means higher rate btw) Long term capital gains tax = stock owned for 1 year and a day or longer <-----0% tax penalty if you make less than 40k/year Short term capital gains tax = stock owned for < 1 year --- New York Rangers [2004-2008] https://media.giphy.com/media/WvQHBYW0q4TuxdAg61/giphy.gif https://psnprofiles.com/Jaromiroquai68</quote> ... Copied to Clipboard!
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