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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 Taxes are assessed on your gains. 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. Hi, i suggest a great site with plenty of Issues related to your investing and everything around it. it also provide clear and accurate answer to many common questions. |
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