|
|
|---|
westphalia1 Posts:39 2007-06-05 21:37:07 |
Tax advice for stock options trading account? |
|---|---|
| I opened a stock options brokerage account to buy and hold options. What i need to know is about the taxing of these. Say i inves (deposit) $1000.00 to open the account and buy $1000.00 worth of stock options and they perform excellent. Say they go up in value 50% each month. And at some pont in the near future i want to WITHDRAW my initial deposit since i earned it back. CAN I WITHDRAW THE INITIAL DEPOSIT AMOUNT WITHOUT IT BEING TAXED? Also-Can a`stock options trading account be taxed quarterly instead of once a year? How can i figure out how much of my investment return i CAN WITHDRAW periodically and what that tax would be or can't i? THANKS
|
| pooksilby Posts:2 2007-06-05 21:42:33 |
|---|
| It doesn't get taxed based on the withdrawal. It gets taxed based on what profit (capital gains) you made when you sell. If you make money in your acc't, there's a tax on it, even if you don't withdraw it from the acc't or even if you reinvest the money. |
| Feeling Mutual Posts:27 2007-06-06 04:45:27 |
|---|
| Taxes are assessed on your gains.
The sale of a stock or option determines that a taxable envent has occurred, and the profit is taxed. Except if it is in a tax advantaged account such as an IRA. |
