Current Events > If you make less than 40K you don't have to pay taxes for selling stocks

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2Pacavelli 02/16/21 9:42:28 PM #1:	https://vm.tiktok.com/ZMeLtpb6x/ Lawyer says this <cite>2Pacavelli posted [p:950719953] in If you mak... [t:79299413]...</cite> <quote>https://vm.tiktok.com/ZMeLtpb6x/ Lawyer says this </quote> ... Copied to Clipboard!
Orlando_Jordan 02/16/21 9:45:42 PM #2:	Does this apply to dividends? --- "GameFAQs isn't going to be merged in with GameSpot or any other site. We're not going to strip out the soul of the site."-CJayC <cite>Orlando_Jordan posted [p:950720064] in If you mak... [t:79299413]...</cite> <quote>Does this apply to dividends? </quote> ... Copied to Clipboard!
2Pacavelli 02/16/21 9:48:34 PM #3:	I don't know <cite>2Pacavelli posted [p:950720147] in If you mak... [t:79299413]...</cite> <quote>I don't know </quote> ... Copied to Clipboard!
Hexenherz 02/16/21 9:51:34 PM #4:	The video's not playing for me but I can already guess he's saying something like "you're taxed against your taxable income, and if you make less than 40k then your capital gains from the stock sale is 0% so it's not taxable so you don't have to pay any money on it". Sounds... like some guy just read some BS from Nerd Wallet and drew some conclusions there. --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:950720235] in If you mak... [t:79299413]...</cite> <quote>The video's not playing for me but I can already guess he's saying something like "you're taxed against your taxable income, and if you make less than 40k then your capital gains from the stock sale is 0% so it's not taxable so you don't have to pay any money on it". Sounds... like some guy just read some BS from Nerd Wallet and drew some conclusions there. </quote> ... Copied to Clipboard!
Unsugarized_Foo 02/16/21 9:52:41 PM #5:	If he's a lawyer, and he's wrong, Im not gonna be making less than $40k --- "All I have is my balls and my word, and I don't break them for anyone!"-Tony Montana <cite>Unsugarized_Foo posted [p:950720269] in If you mak... [t:79299413]...</cite> <quote>If he's a lawyer, and he's wrong, Im not gonna be making less than $40k </quote> ... Copied to Clipboard!
2Pacavelli 02/16/21 9:54:25 PM #6:	He just said if you're single and make 40K or married and make less than 80K you don't have to pay taxes on those assets. And having children gives you child tax credits and returns on taxes you may owe <cite>2Pacavelli posted [p:950720314] in If you mak... [t:79299413]...</cite> <quote>He just said if you're single and make 40K or married and make less than 80K you don't have to pay taxes on those assets. And having children gives you child tax credits and returns on taxes you may owe </quote> ... Copied to Clipboard!
SK8T3R215 02/16/21 9:55:08 PM #7:	https://www.irs.gov/taxtopics/tc409 --- New York Knicks, New York Jets, New York Yankees. <cite>SK8T3R215 posted [p:950720334] in If you mak... [t:79299413]...</cite> <quote>https://www.irs.gov/taxtopics/tc409 </quote> ... Copied to Clipboard!
Hexenherz 02/16/21 9:57:32 PM #8:	Yes, but "capital gains" (and losses) are figured in to your taxable income. So if you made $79,999 and sold a stock for $2 and now you made $80,001 well... now you're over that threshold. --- FFXIV: Lucius Hexenseele (Brynhildr) \| RS3: UltimaSuende . 99 WC/Fish/Cook/Fletch/Div/Mining/Smithing/Thieving/Crafting/RC https://letterboxd.com/BMovieBro/ <cite>Hexenherz posted [p:950720409] in If you mak... [t:79299413]...</cite> <quote>Yes, but "capital gains" (and losses) are figured in to your taxable income. So if you made $79,999 and sold a stock for $2 and now you made $80,001 well... now you're over that threshold. </quote> ... Copied to Clipboard!
DarkProto05 02/18/21 8:05:42 PM #9:	If you make less than 40K you don't have to pay taxes for selling stocks Only if the stock was held for more than a year, and it's just federal taxes you don't have to pay. Still gotta pay state and local taxes whether the stock was held for less or more than a year. --- Alpha Sapphire FC: 2552 5569 3267 <cite>DarkProto05 posted [p:950812282] in If you mak... [t:79299413]...</cite> <quote>If you make less than 40K you don't have to pay taxes for selling stocks Only if the stock was held for more than a year, and it's just federal taxes you don't have to pay. Still gotta pay state and local taxes whether the stock was held for less or more than a year. </quote> ... Copied to Clipboard!
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Current Events > If you make less than 40K you don't have to pay taxes for selling stocks (+) Yeah! (+)

Current Events > If you make less than 40K you don't have to pay taxes for selling stocks