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tax rate on selling stocks?

Asked by: proffr 559 views YA Discussion

made 37,000 from sale long term,,,, and can i claim loss fromm GM,,,, 2,100.
made 37,000 from sale long term,,,, and can i claim loss fromm GM,,,, 2,100.

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  • Tax Rate for Selling Stocks
  • what is the tax rate for selling stock
  • tax rate for selling stock

2 Answers



  1. Lynne on Jan 24, 2013 Reply

    It depends on your income and on whether you are referring to 2012 sales or 2013 sales. In 2012 the top rate for capital gains was 15%.

    Did you have other income, what is your filing status and number of dependents?

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  2. Bobbie on Jan 24, 2013 Reply

    For which tax year will the sale be done in possibly the past tax year 2012 maybe.
    Or after December 31 2012 in the 2013 tax year when the rules will change at that time January 1 2013 for the sale of stocks and the other Net Investment Income Tax
    Use the search box at the http://www.irs.gov website for Net Investment Income Tax FAQs
    Basics of the Net Investment Income Tax

    http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs

    1. What is the Net Investment Income Tax (NIIT)?
    The Net Investment Income Tax is imposed by section 1411 of the Internal Revenue Code (IRC). The NIIT applies at a rate of 3.8 percent to certain net investment income of individuals, estates and trusts that have income above the statutory threshold amounts.
    2. When does the Net Investment Income Tax take effect?
    The Net Investment Income Tax goes into effect on Jan. 1, 2013. The NIIT will affect income tax returns of individuals, estates and trusts for their first tax year beginning on (or after) Jan. 1, 2013. It will not affect income tax returns for the 2012 taxable year that will be filed in 2013.

    http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs

    Planning Ahead for 2013
    The special tax rates on long-term gains and qualified dividends will expire on December 31, 2012. Starting 2013, the tax rate on long-term gains will be 20% (or 10% if a taxpayer is in the fifteen percent tax bracket). Also starting in 2013, the distinction between ordinary and qualified dividends will disappear, and all dividends will be subject to the ordinary tax rates.
    Also beginning in 2013, capital gain income will be subject to an additional 3.8% Medicare tax.

    http://taxes.about.com/od/capitalgains/a/CapitalGainsTax_4.htm

    Hope that you find the above enclosed information useful. 01/24/2012

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