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The tricky part about long-term gains is if you are adding to your position throughout the year. The full year begins on the day of your last purchase if you want to sell it all after a year. 366 days
The holding period for each share beings on the day you purchased that share. You specify which shares you want to sell, or set it for FIFO - first in; first out. And why would you sell it all at once?
As a tax preparer this was all great info to share with people. Since taxes impact just about everybody (keywords “just about”), I always encourage people to learn the basics for their own benefit!
You are an amazing teacher! I am binge watching these videos and my mind is completely blown that I am understanding any of this. Trust me when I say it’s because of the way you teach!
I absolutely love how you explain this so well. I was wondering how the taxes work. Like one year you make money on the stock market and of course you pay with money earned. And then if you lose the following year, I was wondering how that worked. I love that we can at least take it off of our taxable income. At least that is fair so that you are not only paying taxes but you can actually claim the losses. So it all balances out. And if you have lots of losses, you can get those back over time. I'm a very new investor and trying to learn as much as I can before jumping in. Thanks so much.
Can you make video on how dividends are taxed? and how tax would look like if you invest in dividend stock overtime over the year(s) and how the taxes work in those scenarios?
You said if I’m in the 10% tax bracket that I would pay 0% on my long term capital gains. So if I owned my own company and paid myself $1 per year, would that allow me to pay 0% on long term capital gains?
Very good video, thank you! For 2024 the 'no capital gains' limit is 47k of 'taxable income. Do stock sales, dividends and interest count as 'taxable income' or is that limited to wages etc? Thanks again!
Hi! This my first year playing the stocks! You said the mid February they gonna send out taxes. Are they gonna send to your house? If not how do I get it! Thank you for your help!
If your Stock interest and dividends are set to automatically reinvest within the brokerage account, is that a taxable event, or do you only pay taxes when you withdraw from your account?
Hi, how are we taxed when rolling options? If I sell a call option for $1 and then i buy back the call option for $5 and sell another call 2 weeks out for $6 all in the same day. Will i get taxed for $7 or the net of $2?
If I buy some stocks then 6 months down the line. I buy more of the same stocks. In order to get the tax free. Do I have to only sell the stocks I bought before the second order, do it rollover into the first order?, or do I have to wait another year?
Hi Brian If you lost 20k this year so can didact 3k and will have 17k on not used and next year make 17k can I use the previous year loss on this year profit?
Yes, in your example, you could use the full $17K of losses to offset your $17K of capital gains. The $3k loss limitation is only applicable if you have more capital losses than capital gains (to offset against other non-capital gain income - such as wage income, business income, interest income, dividend income, etc). I hope that helps!
Thank you for detail explanation. My question is related for international individuals who are living outside the us and trading us market such as Saudi in Saudi Arabia. Do they pay taxes on their gains or just high percentage on Dividends yields ?
For the most part, they will be taxed the same. There are many exceptions, but they won't apply to 90%+ people. The gains/losses on equity options will show up on your 1099-B no different than stock sales.
Question. Lets say I buy 10 shares of VTI on January, then 5 more in May. On February of next year I sell everything. Will my entire stake be considered long-term or just the first 10 shares
Hi @clearvalue I lost 10k like 2-3 years ago in the stock market, but I didn't cash out yet, is there anything I can do on my taxes next year? or nothing until I cash out?
The gains/losses would flow to the individual on your personal tax return and it would be no different. Unless the LLC is taxed as a C-Corporation, it would remain at the corporate level.
The gains/losses would flow to the individual on your personal tax return and it would be no different. Unless the LLC is taxed as a C-Corporation, it would remain at the corporate level.
Question about gold and taxes. If one inherits gold down the family bought over generations and one decides to sell it how is that reported? How is the tax calculated? I don't want to hear "don't report it!" I want to do this correctly.
Join our EXCLUSIVE Investing Community at: ClearValueInvesting.com
GET 3 FREE STOCKS when you open up a stock account here: a.webull.com/i/ClearValueTax
I hate taxes
Thank you for getting here 1st Trump!
@@clearvaluetax9382trump 1st 2024. ?????
🧑🎄🍪
@@clearvaluetax9382 Merry Christmas 🎁🎄
Georgia also announced income tax rates will drop every year for 5 years.
I would love to see an advanced tax series about the topics mentioned at the end including tax loss harvesting
The tricky part about long-term gains is if you are adding to your position throughout the year. The full year begins on the day of your last purchase if you want to sell it all after a year. 366 days
Wrong
You don’t need to sell it all at the same time. In fact, that’s a risky thing to do. Better to DCA out.
The holding period for each share beings on the day you purchased that share. You specify which shares you want to sell, or set it for FIFO - first in; first out. And why would you sell it all at once?
If you sell via “lots” you can get around this issue.
As a tax preparer this was all great info to share with people. Since taxes impact just about everybody (keywords “just about”), I always encourage people to learn the basics for their own benefit!
Thank you BK Randy for all the support! I appreciate it so much!
I think I get smarter every time I watch one of your video.
I wish I had found your channel years ago but I’m glad I found it now. Thanks for sharing your knowledge, I’ve learned so much from you!
You are an amazing teacher! I am binge watching these videos and my mind is completely blown that I am understanding any of this. Trust me when I say it’s because of the way you teach!
I just started on webull and was stressing about taxes . Thank you I'm so much better now . Much much better😊
I’m just here to say I appreciate this channel. Such great content for real people
That is so kind of you! Thank you for all the support Aduncaroo!
Here I was stressing about my investment taxes, but it really isn't as complicated as I thought. Thank you!!
This is why your name will be remembered. Thank you Brian and Merry Christmas!
Thank you for all the support Blexaarron!
This is the best video I have fount on this topic so far! Thank you!
Abolish direct taxes
Very clear explanation of this subject.
I absolutely love how you explain this so well. I was wondering how the taxes work. Like one year you make money on the stock market and of course you pay with money earned. And then if you lose the following year, I was wondering how that worked. I love that we can at least take it off of our taxable income. At least that is fair so that you are not only paying taxes but you can actually claim the losses. So it all balances out. And if you have lots of losses, you can get those back over time. I'm a very new investor and trying to learn as much as I can before jumping in. Thanks so much.
Great video. I always love all the visuals,
Thank you for the feedback jaer!
I love this type of videos, very well explained and valuable. Thank you
Thank you for all the support Aldoa! I appreciate it so much!
Can you make video on how dividends are taxed? and how tax would look like if you invest in dividend stock overtime over the year(s) and how the taxes work in those scenarios?
Thanks again for your clear, concise manner of explaining things Brian...much appreciated.
Thank you for all the support Roscoe!
Can you also explain this for options traders?
Excellent guide. Thank you
Taxes on dividends reinvested from an inheritance
Thanks so much for these videos.
You're the kind of person who, if I saw you succeeding, I would be very happy about it. Seems you're doing well with the channel!🎉
Great video man. The visuals helped so much. Gracias my friend.
Awesome. Information that I needed! Thank you!
I took your advice and paid little throughout the whole year and started paying my fair share in this last quarter.....taxes....ugh!
Please explain how Return of Capital will be treated for synthetic covered called High yielding ETF ? Thank you for your time.
Thanks. Can you do something similar for crypto gains/losses?
I do have a crypto tax video, but yes, I will make an updated one.
Can you make a video on wash sale rule?
Awesome video! It was easy to undestand and very informative. Thank you.
Very informative content. Appreciate you Brian you’re the best🙏🏽
Good man’s!! Keep it up fam
How are day traders taxed, if they have no alternative source of revenue do they fall under 10% tax bracket?
Sir, great video - thank you.
Crystal clear , thanks
Another reason to just etf and chill
Great video.. thank you
Thank you for the support Luther!
You are only allowed to claim loss 3000 per year but pay full gain tax....ridiculous
Awesome video, CVT! Can you expand on this when someone is using margin and paying every month on interests or margin fees?
Can you explain how deduct margin interest when you use margin from broker? 🎉
It's an itemized deduction on Schedule A.
You said if I’m in the 10% tax bracket that I would pay 0% on my long term capital gains. So if I owned my own company and paid myself $1 per year, would that allow me to pay 0% on long term capital gains?
appreciate the info, thanks!
Thank you for all the support Tobin!
Does the loss deduction apply to both itemized and standard deduction tax returns?
Yes, it's applicable to all tax returns regardless of whether you take the standard deduction or itemized deductions.
This only applies if you sell stocks, otherwise you don’t have to worry about this
That's correct on realized gains/losses. Nothing happens with unrealized gains/losses.
Thank you! Love your content!
Do these rules apply to ETF’s?
Thanks for simple explanation. I didnt know loss deduction carry to next year.
How about dividends that i get paid on my Roth IRA?
Very good video, thank you! For 2024 the 'no capital gains' limit is 47k of 'taxable income. Do stock sales, dividends and interest count as 'taxable income' or is that limited to wages etc? Thanks again!
Merry Christmas 🎄🎁
Merry Christmas Michelle!
Hi! This my first year playing the stocks! You said the mid February they gonna send out taxes. Are they gonna send to your house? If not how do I get it! Thank you for your help!
Tax time we use to look forward for this time of the year
is there also short term vs long term loss differences?
Please cover futures contracts taxes next
Love this video!
If your Stock interest and dividends are set to automatically reinvest within the brokerage account, is that a taxable event, or do you only pay taxes when you withdraw from your account?
Taxable the year the dividends are paid out. IRS doesn't care if the dividends were reinvested.
When these funds are withdrawn there will be no tax?
Does the Consolidated 1099 (which includes all tax forms needed) come to those who traded in cryptocurrency?
How you do you claim lose on bankrupted stock
Oh ok. So the long term capital gains is also based on income.
The tax rate, yes.
I don’t get it. The government earns money on my behave. I take al the risk an they just collect …
How does this differ for an index fund?
Do gains from Options follow the same rules?
Is this the same for cryptocurrency taxes?
Hi, how are we taxed when rolling options? If I sell a call option for $1 and then i buy back the call option for $5 and sell another call 2 weeks out for $6 all in the same day. Will i get taxed for $7 or the net of $2?
This is amazing
If I buy some stocks then 6 months down the line. I buy more of the same stocks. In order to get the tax free. Do I have to only sell the stocks I bought before the second order, do it rollover into the first order?, or do I have to wait another year?
Thank you for this video.
My pleasure Terry!
Outstanding! Thank you.
Hi Brian
If you lost 20k this year so can didact 3k and will have 17k on not used and next year make 17k can I use the previous year loss on this year profit?
Yes, in your example, you could use the full $17K of losses to offset your $17K of capital gains. The $3k loss limitation is only applicable if you have more capital losses than capital gains (to offset against other non-capital gain income - such as wage income, business income, interest income, dividend income, etc). I hope that helps!
Thanks for the info
Thank you for the support!
How many years will it carry forward?
Indefinitely until used up
You should do one with crypto?!
When is the best time to sell
Great explanation
Thank you for the support bwbark!
Thanks Brian!
Thank you for detail explanation. My question is related for international individuals who are living outside the us and trading us market such as Saudi in Saudi Arabia. Do they pay taxes on their gains or just high percentage on Dividends yields ?
It will be just on the dividends. BUT you can file a non-resident tax return and get a refund (a good amount of it in most cases).
How are gains on options taxed?
For the most part, they will be taxed the same. There are many exceptions, but they won't apply to 90%+ people. The gains/losses on equity options will show up on your 1099-B no different than stock sales.
Thanks!
Thank you for that super thanks Steve!
How do I know which tax bracket I’m at?
Awesome thanks
Thank you for all the support Tank Texas!
Excellent!!!
How about day trading? They are also treated as short term or taxed even more than that? Thanks
So the tax window ends on the last day of the year right?
Have you watched the Aaron Russo documentary America to fascism? Have you done the research yourself on legality of income tax?
Yes. I hate the idea of income taxes but they enforce it.
Great analysis
Thank you for the support!
I thought you don’t pay taxes on any realized gains unless it’s over about $45,000? Can someone clear this up for me
Question. Lets say I buy 10 shares of VTI on January, then 5 more in May. On February of next year I sell everything. Will my entire stake be considered long-term or just the first 10 shares
Just the shares held more than a year are long term
Hi @clearvalue I lost 10k like 2-3 years ago in the stock market, but I didn't cash out yet, is there anything I can do on my taxes next year? or nothing until I cash out?
You won’t get the tax benefit until you sell some or all of it.
@@clearvaluetax9382 thank you sir, I will support👍🏾💪🏾
Make video on btc bottom
Doesn't standard or itemized deduction matter?
Not for this. Not for capital losses.
tax consequences of short term wash sales vs non-wash?
Good video! How is this different for stock that it is owned by the LLC for winnings and/or losses? do the same limits apply?
The gains/losses would flow to the individual on your personal tax return and it would be no different. Unless the LLC is taxed as a C-Corporation, it would remain at the corporate level.
The gains/losses would flow to the individual on your personal tax return and it would be no different. Unless the LLC is taxed as a C-Corporation, it would remain at the corporate level.
Question about gold and taxes. If one inherits gold down the family bought over generations and one decides to sell it
how is that reported? How is the tax calculated? I don't want to hear "don't report it!" I want to do this correctly.
Don't report it.
Do I have to report my Roth IRA I started this year
Not the activity within it.
Well done, M8.
how can you determine if you are in 10% tax bracket or 37% or 25% how do you know which one you are in?
It’s determined by income. Please refer to the tax bracket table.
@@clearvaluetax9382 thank you!!
I claim losses/ expenses on my business, so if i sell stocks for loss, will this effect expenses ?
Good stuff
Great video, simple explanation of taxes that fits 90 percent of us! 😊
I love when the video thumb is of you smiling. Your channel is the greatest free education I’ve ever gotten.