Stock Sale Taxes: Capital Gains, Dividends
This is a news story, published by Yahoo Finance, that relates primarily to NIIT news.
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Business & Economics
Taxes on stocks: Here are the rules and rates
74% Informative
When you sell a stock for a profit, it’s called a capital gain, so you’ll owe capital gains tax.
The amount of the tax depends on your income, filing status, and how long you held the stock.
Expect to pay taxes on dividends, which are distributions paid by companies to their shareholders.
The net investment income tax ( NIIT ) is 3.8% for 2024 and applies if you have investment income, including dividends and capital gains.
You can avoid a short-term capital gains tax by holding the stock for more than a year .
Stocks held for longer than one year qualify for 0% , 15% , or 20% capital gains taxes.
Maximize savings in tax-advantaged accounts like a 401(k) or IRA.
If you sell for a profit, you’ll either pay a short-term or long-term capital gains tax.
Keeping the stock longer could result in a lower tax rate.
You only pay taxes on profits from selling a stock.
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