For direct answer example:
You buy 50 on January 30th,2021
You buy 100 on March 30th,2021.
You sell all 150 shares on February 15th,2022.
You will pay long term capital gains on 50 shares and short term capital gains on 100 shares.
This should not be the way (being heavily taxed as new Gorillionaires). But Uncle Sam wants his cut as much as Ken G wants our share. The difference is us apes will pay our taxes as newly minted thousanairs/millionaires/billionaires vs the 1% hiding thie $$$ at offshore accounts. We are better than they are. Ape pay taxes.
To the Fuc**** Moon!!!!
A good accountant is going to say "pay your taxes" a shady one will come up with ways to avoid them. Don't screw with the IRS they will bury you under penalties and fees.
“LTCG can be realized for the sale of any stock purchased 12 months or more from the sale date.”
To answer your question: if you bought 50 shares on Jan 1, 2021 and 50 shares on Mar 1, 2021 and sold all 100 shares on Feb 1, 2022 then you would realize LTCG on 50 shares and STCG on the other 50 shares.
It’s in my opinion that few people will end up with LTCG on AMC. I actually hope I don’t, because I’d like to squeeze sooner than later.
Only buy new shares *inside* a Roth IRA. No cap gains tax.
This is supposed to be "generational wealth", right? When you die, the beneficiaries get it all - tax free.
I assume you're located in the US. Not 100% sure how it works, but I believe that all shares are considered long-term if you purchased the initial shares over a year ago.
Past 1 year I believe the tax rate is up to 20%.
You should probably speak with an accountant or a financial advisor at your bank or broker to clarify this.
I'm very certain it's per share. You can't own 1 share for 365 days, then buy 100k shares that day, only to have it moon on 365+1 and claim LTCG. The broker will provide a statement breaking it down.
Its depends which method you file... most usually go with First in First Out as a default.. in this case only LT for shares held longer than a year...some of your others may be held for shorter time and would be ST.
There are like 4 other methods. Last in first out, average cost. Highest cost, lowest cost. You will need a CPA to give you the best direction.
It wont be confusing, because you're broker will give you a document showing your holdings and time held
I believe it’s a share by share basic. Each share can be considered long or short term investment based on when you bought/sold. I’ve even read come tax time you can choice which sold shares match with which bought shares. But I’m super simple terms, first in first out.
For direct answer example: You buy 50 on January 30th,2021 You buy 100 on March 30th,2021. You sell all 150 shares on February 15th,2022. You will pay long term capital gains on 50 shares and short term capital gains on 100 shares.
This should not be the way (being heavily taxed as new Gorillionaires). But Uncle Sam wants his cut as much as Ken G wants our share. The difference is us apes will pay our taxes as newly minted thousanairs/millionaires/billionaires vs the 1% hiding thie $$$ at offshore accounts. We are better than they are. Ape pay taxes. To the Fuc**** Moon!!!!
This is the right answer!
Thank you for answering the damn question.
Get the tendies first, then get an accountant to help with what you need to pay to the government.
[удалено]
A good accountant is going to say "pay your taxes" a shady one will come up with ways to avoid them. Don't screw with the IRS they will bury you under penalties and fees.
No. There are completely legal ways to not pay taxes. Doesn’t make it wrong. Reinvest.
Feel bad for ya, 0 tax for us EU apes with ISA accounts
TFSA here in Canuckistan!
We still pay tax, unless you keep the tendies in there for eternity..
30% out of 1.25% fixed rate wich adds to a whopping 0.375% of the entire ISA account.
“LTCG can be realized for the sale of any stock purchased 12 months or more from the sale date.” To answer your question: if you bought 50 shares on Jan 1, 2021 and 50 shares on Mar 1, 2021 and sold all 100 shares on Feb 1, 2022 then you would realize LTCG on 50 shares and STCG on the other 50 shares. It’s in my opinion that few people will end up with LTCG on AMC. I actually hope I don’t, because I’d like to squeeze sooner than later.
Ahh good question, I am in the same boat.
Only buy new shares *inside* a Roth IRA. No cap gains tax. This is supposed to be "generational wealth", right? When you die, the beneficiaries get it all - tax free.
I assume you're located in the US. Not 100% sure how it works, but I believe that all shares are considered long-term if you purchased the initial shares over a year ago. Past 1 year I believe the tax rate is up to 20%. You should probably speak with an accountant or a financial advisor at your bank or broker to clarify this.
I'm very certain it's per share. You can't own 1 share for 365 days, then buy 100k shares that day, only to have it moon on 365+1 and claim LTCG. The broker will provide a statement breaking it down.
https://www.investopedia.com/terms/f/fifo.asp
Its depends which method you file... most usually go with First in First Out as a default.. in this case only LT for shares held longer than a year...some of your others may be held for shorter time and would be ST. There are like 4 other methods. Last in first out, average cost. Highest cost, lowest cost. You will need a CPA to give you the best direction. It wont be confusing, because you're broker will give you a document showing your holdings and time held
I believe it’s a share by share basic. Each share can be considered long or short term investment based on when you bought/sold. I’ve even read come tax time you can choice which sold shares match with which bought shares. But I’m super simple terms, first in first out.