Taxes on stock sales?

I bought 45000 shares @ 30 cents each on 08-01-04. they are now valued @ 12.00 each. A $ 540,000.00 value on $ 9,000.00 investment. I want to sell but am afraid of how much uncle sam will want. I need to know what to do as I need to sell at least 200,000.00 dollars worth with in the next few months

What are you buying now?

You can afford an accountant.

Those would be long-term capital gains and I think they'd be taxed at 15% instead of 28% (but I'm not sure on that because my husband is the financial tax planner in our family.)

You can call and check with a tax specialist to get accurate information.

Examine Form 1040, Schedule D on the IRS website. You will be taxed at a rate between 5%-15% on your "net capital gain", depending on your level of income. An overview is provided by Tax Topic 409.

But if I were you, I *would* get an accountant if mathematics is challenging for you (45,000 shares @ 30 cents each is how much of an initial investment again?). Your capital gains from this transaction will be $526,500, before trading fees which are deductible.

I wish I bought that stock

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