Tax question?

[PICK3]

Last year (2004) I cashed in about $2k in common stock.

Will this be taxed like regular income?

 

[Mr.X]

did you make a profit on the transaction? if so, that's a capital gain - ballpark 15% tax in the US if I remember correctly

 

[PICK3]

Yeah, but my 1099-B's only show the gross amount of each sale.

 

[Devastation]

you need to know your basis/cost of the asset. also if you held it longer than 1 year or not

 

[flex229]

if you held the stock longer than one year and you profitted, then you will pay a long-term capital gains tax of about 15% i believe.

if held for a period less than one year, you will pay a short-term capital gains tax which can be taxed as high as around 30%.

you need to know your basis/cost of the asset. also if you held it longer than 1 year or not

 

[PICK3]

if you held the stock longer than one year and you profitted, then you will pay a long-term capital gains tax of about 15% i believe.

if held for a period less than one year, you will pay a short-term capital gains tax which can be taxed as high as around 30%.

Thanks,

I held the stock > 1 year.