Stock Market Taxes Explained For Beginners

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  • Опубліковано 28 вер 2024

КОМЕНТАРІ • 621

  • @clearvaluetax9382
    @clearvaluetax9382  9 місяців тому +8

    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

  • @Trump-rv4nz
    @Trump-rv4nz 9 місяців тому +443

    I hate taxes

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +79

      Thank you for getting here 1st Trump!

    • @jogmas12
      @jogmas12 9 місяців тому +26

      @@clearvaluetax9382trump 1st 2024. ?????

    • @qdood
      @qdood 9 місяців тому +1

      🧑‍🎄🍪

    • @Trump-rv4nz
      @Trump-rv4nz 9 місяців тому +1

      @@clearvaluetax9382 Merry Christmas 🎁🎄

    • @EmazingGuitar
      @EmazingGuitar 9 місяців тому +5

      Georgia also announced income tax rates will drop every year for 5 years.

  • @Theethan2929
    @Theethan2929 9 місяців тому +58

    I would love to see an advanced tax series about the topics mentioned at the end including tax loss harvesting

  • @darrenjohnson9019
    @darrenjohnson9019 9 місяців тому +12

    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

    • @Arthur-qi7bo
      @Arthur-qi7bo 9 місяців тому +2

      Wrong

    • @genxx2724
      @genxx2724 9 місяців тому +3

      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.

    • @genxx2724
      @genxx2724 9 місяців тому +4

      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?

    • @LandCruiser1958
      @LandCruiser1958 9 місяців тому +2

      If you sell via “lots” you can get around this issue.

  • @BKRandy94
    @BKRandy94 9 місяців тому +72

    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!

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      Thank you BK Randy for all the support! I appreciate it so much!

  • @mov309
    @mov309 9 місяців тому +10

    I think I get smarter every time I watch one of your video.

  • @heartthatgirl
    @heartthatgirl 5 місяців тому +1

    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!

  • @kayceeleigh84
    @kayceeleigh84 Місяць тому

    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!

  • @joekilks7046
    @joekilks7046 7 днів тому

    I just started on webull and was stressing about taxes . Thank you I'm so much better now . Much much better😊

  • @aduncaroo
    @aduncaroo 9 місяців тому +4

    I’m just here to say I appreciate this channel. Such great content for real people

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +1

      That is so kind of you! Thank you for all the support Aduncaroo!

  • @AceYamagucci
    @AceYamagucci 7 місяців тому

    Here I was stressing about my investment taxes, but it really isn't as complicated as I thought. Thank you!!

  • @blexaarron
    @blexaarron 9 місяців тому +1

    This is why your name will be remembered. Thank you Brian and Merry Christmas!

  • @MD-gk9os
    @MD-gk9os Місяць тому

    This is the best video I have fount on this topic so far! Thank you!

  • @udayravjotsingh4171
    @udayravjotsingh4171 4 місяці тому +1

    Abolish direct taxes

  • @patrickgoss4729
    @patrickgoss4729 14 днів тому

    Very clear explanation of this subject.

  • @vickieclark5931
    @vickieclark5931 5 місяців тому

    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.

  • @jaer5
    @jaer5 9 місяців тому +3

    Great video. I always love all the visuals,

  • @aldoa337
    @aldoa337 9 місяців тому +3

    I love this type of videos, very well explained and valuable. Thank you

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +1

      Thank you for all the support Aldoa! I appreciate it so much!

  • @Thunderlo
    @Thunderlo 9 місяців тому +3

    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?

  • @Roscoe_B
    @Roscoe_B 9 місяців тому +9

    Thanks again for your clear, concise manner of explaining things Brian...much appreciated.

  • @tovarseasycleaning
    @tovarseasycleaning 9 місяців тому +3

    Can you also explain this for options traders?

  • @truefencer
    @truefencer 2 місяці тому

    Excellent guide. Thank you

  • @4halex
    @4halex Місяць тому

    Taxes on dividends reinvested from an inheritance

  • @marvailjennette6350
    @marvailjennette6350 9 місяців тому +2

    Thanks so much for these videos.

  • @darylallen2485
    @darylallen2485 6 місяців тому

    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!🎉

  • @rodrigojimenez3491
    @rodrigojimenez3491 9 місяців тому

    Great video man. The visuals helped so much. Gracias my friend.

  • @liveyourbliss808
    @liveyourbliss808 6 місяців тому

    Awesome. Information that I needed! Thank you!

  • @jimv77
    @jimv77 9 місяців тому

    I took your advice and paid little throughout the whole year and started paying my fair share in this last quarter.....taxes....ugh!

  • @Vishanj1202
    @Vishanj1202 28 днів тому

    Please explain how Return of Capital will be treated for synthetic covered called High yielding ETF ? Thank you for your time.

  • @hurricanepaul1
    @hurricanepaul1 9 місяців тому +3

    Thanks. Can you do something similar for crypto gains/losses?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +4

      I do have a crypto tax video, but yes, I will make an updated one.

  • @xdgs567z
    @xdgs567z 9 місяців тому +2

    Can you make a video on wash sale rule?

  • @jsprngralltheway3959
    @jsprngralltheway3959 9 місяців тому +1

    Awesome video! It was easy to undestand and very informative. Thank you.

  • @rafaelrivera5007
    @rafaelrivera5007 9 місяців тому +1

    Very informative content. Appreciate you Brian you’re the best🙏🏽

  • @angryidahobusdriver
    @angryidahobusdriver 7 місяців тому

    Good man’s!! Keep it up fam

  • @risingeagle1778
    @risingeagle1778 5 місяців тому

    How are day traders taxed, if they have no alternative source of revenue do they fall under 10% tax bracket?

  • @DarrellD1
    @DarrellD1 3 місяці тому

    Sir, great video - thank you.

  • @peterlee244
    @peterlee244 9 місяців тому +3

    Crystal clear , thanks

  • @DARTHDANSAN
    @DARTHDANSAN 9 місяців тому +1

    Another reason to just etf and chill

  • @lutherl4473
    @lutherl4473 9 місяців тому +2

    Great video.. thank you

  • @paul14ify
    @paul14ify 9 місяців тому +1

    You are only allowed to claim loss 3000 per year but pay full gain tax....ridiculous

  • @michaelmarzan5330
    @michaelmarzan5330 8 місяців тому

    Awesome video, CVT! Can you expand on this when someone is using margin and paying every month on interests or margin fees?

  • @korkor8960
    @korkor8960 9 місяців тому +2

    Can you explain how deduct margin interest when you use margin from broker? 🎉

  • @barryrush4435
    @barryrush4435 7 місяців тому

    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?

  • @tobintang5792
    @tobintang5792 9 місяців тому +3

    appreciate the info, thanks!

  • @AC8GE
    @AC8GE 9 місяців тому +2

    Does the loss deduction apply to both itemized and standard deduction tax returns?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +4

      Yes, it's applicable to all tax returns regardless of whether you take the standard deduction or itemized deductions.

  • @Kjj1517
    @Kjj1517 9 місяців тому +1

    This only applies if you sell stocks, otherwise you don’t have to worry about this

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      That's correct on realized gains/losses. Nothing happens with unrealized gains/losses.

  • @cayenne767
    @cayenne767 9 місяців тому +1

    Thank you! Love your content!
    Do these rules apply to ETF’s?

  • @Dexterosa
    @Dexterosa 8 місяців тому

    Thanks for simple explanation. I didnt know loss deduction carry to next year.
    How about dividends that i get paid on my Roth IRA?

  • @fortunato.s
    @fortunato.s 4 місяці тому

    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!

  • @michellejackson7293
    @michellejackson7293 9 місяців тому +1

    Merry Christmas 🎄🎁

  • @ThienLe-bc4te
    @ThienLe-bc4te 9 місяців тому +1

    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!

  • @michellejackson7293
    @michellejackson7293 9 місяців тому

    Tax time we use to look forward for this time of the year

  • @godricg6127
    @godricg6127 9 місяців тому +2

    is there also short term vs long term loss differences?

  • @Sam-tg4ii
    @Sam-tg4ii 8 місяців тому

    Please cover futures contracts taxes next

  • @moisessilva2343
    @moisessilva2343 6 місяців тому

    Love this video!

  • @ThePimpedOutPlatypus
    @ThePimpedOutPlatypus 9 місяців тому +2

    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?

    • @stevenporter863
      @stevenporter863 9 місяців тому +5

      Taxable the year the dividends are paid out. IRS doesn't care if the dividends were reinvested.

    • @BeachCory
      @BeachCory 9 місяців тому

      When these funds are withdrawn there will be no tax?

  • @fgbowen
    @fgbowen 8 місяців тому

    Does the Consolidated 1099 (which includes all tax forms needed) come to those who traded in cryptocurrency?

  • @bthai97586
    @bthai97586 8 місяців тому

    How you do you claim lose on bankrupted stock

  • @TerryCollinsP31Lifestyle
    @TerryCollinsP31Lifestyle 9 місяців тому +1

    Oh ok. So the long term capital gains is also based on income.

  • @rik-keymusic160
    @rik-keymusic160 6 місяців тому

    I don’t get it. The government earns money on my behave. I take al the risk an they just collect …

  • @DaleNorenberg
    @DaleNorenberg Місяць тому

    How does this differ for an index fund?

  • @angelstar938
    @angelstar938 Місяць тому

    Do gains from Options follow the same rules?

  • @themissingtile2828
    @themissingtile2828 6 місяців тому

    Is this the same for cryptocurrency taxes?

  • @FIRE_AtTheBeach
    @FIRE_AtTheBeach 5 місяців тому

    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?

  • @jonathanrferrer
    @jonathanrferrer 24 дні тому

    This is amazing

  • @matthewgray4063
    @matthewgray4063 9 місяців тому +1

    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?

  • @TerryCollinsP31Lifestyle
    @TerryCollinsP31Lifestyle 9 місяців тому +1

    Thank you for this video.

  • @elliotthall5543
    @elliotthall5543 9 місяців тому

    Outstanding! Thank you.

  • @AD-il1mr
    @AD-il1mr 9 місяців тому +1

    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?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +1

      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!

  • @ryanwolfe7041
    @ryanwolfe7041 9 місяців тому +1

    Thanks for the info

  • @TerryCollinsP31Lifestyle
    @TerryCollinsP31Lifestyle 9 місяців тому +1

    How many years will it carry forward?

  • @newera9164
    @newera9164 9 місяців тому

    You should do one with crypto?!

  • @sharmz7540
    @sharmz7540 9 місяців тому

    When is the best time to sell

  • @bwbark
    @bwbark 9 місяців тому +1

    Great explanation

  • @joeashbubemma
    @joeashbubemma 9 місяців тому

    Thanks Brian!

  • @alialabdulal6373
    @alialabdulal6373 9 місяців тому

    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 ?

    • @clearvaluetax9382
      @clearvaluetax9382  8 місяців тому

      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).

  • @MrJimoney
    @MrJimoney 9 місяців тому +1

    How are gains on options taxed?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      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.

  • @csp5113
    @csp5113 9 місяців тому +1

    Thanks!

  • @houstontx1981
    @houstontx1981 9 місяців тому

    How do I know which tax bracket I’m at?

  • @tanktexas
    @tanktexas 9 місяців тому +1

    Awesome thanks

  • @sx2882
    @sx2882 9 місяців тому

    Excellent!!!

  • @nagarjuna247
    @nagarjuna247 9 місяців тому

    How about day trading? They are also treated as short term or taxed even more than that? Thanks

  • @parzivallampruge2549
    @parzivallampruge2549 9 місяців тому

    So the tax window ends on the last day of the year right?

  • @Green2Clean
    @Green2Clean 9 місяців тому

    Have you watched the Aaron Russo documentary America to fascism? Have you done the research yourself on legality of income tax?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      Yes. I hate the idea of income taxes but they enforce it.

  • @Michaelkeal-p7n
    @Michaelkeal-p7n 9 місяців тому +1

    Great analysis

  • @ReturnOfGodEnel
    @ReturnOfGodEnel 9 місяців тому

    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

  • @jamalbrathwaite7501
    @jamalbrathwaite7501 9 місяців тому

    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

    • @qdood
      @qdood 9 місяців тому +1

      Just the shares held more than a year are long term

  • @hastyle2120
    @hastyle2120 9 місяців тому

    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?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому +2

      You won’t get the tax benefit until you sell some or all of it.

    • @hastyle2120
      @hastyle2120 9 місяців тому

      @@clearvaluetax9382 thank you sir, I will support👍🏾💪🏾

  • @justindividual7496
    @justindividual7496 9 місяців тому

    Make video on btc bottom

  • @kiwiwelch3620
    @kiwiwelch3620 9 місяців тому +1

    Doesn't standard or itemized deduction matter?

  • @BryanPatterson
    @BryanPatterson 9 місяців тому

    tax consequences of short term wash sales vs non-wash?

  • @vamosentrepreneur
    @vamosentrepreneur 9 місяців тому

    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?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      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.

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      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.

  • @joycekoch5746
    @joycekoch5746 9 місяців тому

    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.

  • @bklynbiker623
    @bklynbiker623 9 місяців тому

    Do I have to report my Roth IRA I started this year

  • @kckaz4453
    @kckaz4453 9 місяців тому

    Well done, M8.

  • @qorghsksan92
    @qorghsksan92 9 місяців тому

    how can you determine if you are in 10% tax bracket or 37% or 25% how do you know which one you are in?

    • @clearvaluetax9382
      @clearvaluetax9382  9 місяців тому

      It’s determined by income. Please refer to the tax bracket table.

    • @qorghsksan92
      @qorghsksan92 9 місяців тому

      @@clearvaluetax9382 thank you!!

  • @mohammedzaki462
    @mohammedzaki462 9 місяців тому

    I claim losses/ expenses on my business, so if i sell stocks for loss, will this effect expenses ?

  • @michaelminauro4180
    @michaelminauro4180 9 місяців тому

    Good stuff

  • @rogerferguson3673
    @rogerferguson3673 9 місяців тому +38

    Great video, simple explanation of taxes that fits 90 percent of us! 😊

  • @mashort07
    @mashort07 9 місяців тому +33

    I love when the video thumb is of you smiling. Your channel is the greatest free education I’ve ever gotten.