If I sell a stock, do I pay taxes on the full amount of stock I sold or do I just pay taxes on the profit?

Answer 1

The gain is taxed 9the difference between what you paid for the stock and what you sell it for)
If you owned it for a year and a day it is considered long term and is taxed at 15% (on the gain)
If you have owned it less than a year and a day it is short term and is taxed at your regular income tax rate. You will have to figure your tax on your 1040 for everything but any long term capital gain, which is figured on page 2 of Schedule D.

Answer 2

You pay on the profit (called a capital gain), and how much tax you pay on depends on your income bracket and how long you owned the the stock before you sold it.

An asset must be held for more than one year for the profit to be considered long term; less than that is short term.

For example, if you are in the 10-15% bracket and the stock you sold was short term, you would be taxed at ordinary income rates; long term would be 5 %.

If you are at the 25% or above bracket, the short term percentage would be the same, but the long term percentage would be 15%.

Answer 3

You may or may not pay tax depending on if you sold the stock for more than you paid for it originally plus any commissions.

If you did make a profit, that is the amount you pay the tax on, NOT THE FULL AMOUNT YOU RECEIVED from the sale.

Answer 4

You pay taxes based on the amount that you bought the stock at and what you sold it for. Therefore you are paying taxes on the profit of that stock.

Answer 5

You would only pay a tax on the profit which is known as a capital gains tax:

A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realised on the sale of an asset that was purchased at a lower price. The most common capital gains are realised from the sale of stocks, bonds, precious metals and property. Not all countries implement a capital gains tax.

Wikipedia has info on capital gains in other countries.
http://en.wikipedia.org/wiki/Capital_gains_tax#United_States

Answer 6

Profit

Answer 7

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Answer 8

no just on the amount you make.there is a special form to fill out when you do your taxes,but on the orignal amount you invested, if it was a non taxable investment that you declared. what iam try ing to say is if you take 2000 and invest in a ira and then you can claim on your taxes then it doesnt get taxed as in come, but when you cash it in then you have to pay tax on the whole amount.

Answer 9

Profit only

Answer 10

On the profit.