WHat do i have to pay for my stock activity?
Question:
I sold of the mutual funds in 2 weeks and paid 16 for commission for each of the funds. I bought for even thought i bought at 48, and sold at 46, i made a loss, so what taxes do i have to pay, what forms, etc... if i sold the stock and didnt make a profit? WHAt about if i did make a profit. ?
Answer:
Report your loss on schedule D. You can subtract the loss, up to $3000 from your regular income if you are married. If not the amount is somewhat less, $1500, I believe.
why did you sell at a loss?
If you made no profit then, naturally, there is no tax on the deal.
Had you made a profit the tax would depend on the amount.
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