2007-10-10 03:04:18 · 5 answers · asked by noidea 1 in Business & Finance ➔ Taxes ➔ United States
Yes, if your income, including income from stocks, is more than the filing limit, then you must file.
1. This is unearned income and is not subject to employment taxes.
2. If you sell stocks after holding for one year, you will have long term capital gains that are taxed at 5% or 15% rate.
2007-10-10 04:54:14 · answer #1 · answered by MukatA 6 · 0⤊ 0⤋
Yes, but only on your profit, in other words, the difference between what you receive by selling and your basis (what you paid to purchase them), and only if either your total income (including the profit from the stock sales) is enough for you to be required to file or you decide to file.
2007-10-10 14:03:57 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 0⤋
It depends on your total taxable income. If your income is low enough, you might not owe any tax. Limits vary depending on filing status.
2007-10-10 13:58:37 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You have to pay tax on the profits. Your disability is irrelevant.
2007-10-10 10:14:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on how much profit you made selling them.
2007-10-10 10:14:59 · answer #5 · answered by Wayne Z 7 · 0⤊ 0⤋