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Lokay
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Posted on 01-25-17 10:32
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Hello Experienced Stock investors, How is the gain or loss on stocks affect income tax?
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magorkhe1
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Posted on 01-25-17 12:09
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Did you buy and sell stock? How did you do it? If you are capable of buying and selling stock , by now you should have figure it out it's impact on income tax. Here is the link. https://www.irs.gov/instructions/i1040sd/ch01.html#d0e789
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Lokay
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Posted on 01-25-17 12:13
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Just started via Robinhood
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cool_like_a_bird
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Posted on 01-25-17 1:06
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You can directly import tax document(capital gain loss/dividend) in turbotax from the major brokerage accounts including Robinhood.
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Mr. D
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Posted on 01-25-17 2:00
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There are two types of taxes on gains.. Long Term, which is for stock held for more than a year, and Short term is shorter than that.. The Long term are not taxed or taxed 15% depending on your income. Short Term are taxed as just your regular income. However Loss offsets the Gain which is a good thing here in US.
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