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Topic	can anyone explain to me how stocks work?
Tom_Joad 02/01/23 4:20:15 PM #23:	CableZL posted... You're taxed on capital gains in the US, not the entire cost of the stock. If you buy at 100 and sell at 150, your capital gains = 50, and you're taxed on that amount. The amount you're taxed on that amount would change depending on whether it's a short or long term profit. When you file, you're supposed to enter the amount you bought at and the amount you sold at in the boxes to calculate your total capital gains on a particular sale. I received a consolidated 1099 from Etrade when I was actively trading. When it came time to do my taxes, I used H&R Block. Their software didn't even have that option. So I couldn't even begin to input the purchase value. --- "History shows again and again that nature points out the folly of man. Go go Godzilla!" Godzilla - Blue Oyster Cult <cite>Tom_Joad posted [p:971259087] in can anyone... [t:80331308]...</cite> <quote>CableZL posted... </cite><quote>You're taxed on capital gains in the US, not the entire cost of the stock. If you buy at 100 and sell at 150, your capital gains = 50, and you're taxed on that amount. The amount you're taxed on that amount would change depending on whether it's a short or long term profit. When you file, you're supposed to enter the amount you bought at and the amount you sold at in the boxes to calculate your total capital gains on a particular sale.</quote>I received a consolidated 1099 from Etrade when I was actively trading. When it came time to do my taxes, I used H&R Block. Their software didn't even have that option. So I couldn't even begin to input the purchase value. --- "History shows again and again that nature points out the folly of man. Go go Godzilla!"Godzilla - Blue Oyster Cult</quote> ... Copied to Clipboard!
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