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Do I lose $ if I switch class A stock to B ?
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<blockquote data-quote="RUDoneYet" data-source="post: 4828407" data-attributes="member: 84766"><p>@roundtheblockagain Just remember, there will likely be a gain that must be taken into account come next year when you file your 2021 taxes. Simple example, let's pretend you bought or were awarded 100 shares when they were at $100 each. Next Monday, you sell them off and the share price = $175. That's going to leave you with a tax liability on $7,500. For giggles, let's assume an overall tax rate (not going to try and break it down by brackets for this example) 25%. Come tax time in 2022, Uncle Sam will be looking for you to pony up ~ $1,875, so you may want to squirrel away two grand so you aren't scrambling April 15, 2022.</p></blockquote><p></p>
[QUOTE="RUDoneYet, post: 4828407, member: 84766"] @roundtheblockagain Just remember, there will likely be a gain that must be taken into account come next year when you file your 2021 taxes. Simple example, let's pretend you bought or were awarded 100 shares when they were at $100 each. Next Monday, you sell them off and the share price = $175. That's going to leave you with a tax liability on $7,500. For giggles, let's assume an overall tax rate (not going to try and break it down by brackets for this example) 25%. Come tax time in 2022, Uncle Sam will be looking for you to pony up ~ $1,875, so you may want to squirrel away two grand so you aren't scrambling April 15, 2022. [/QUOTE]
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Do I lose $ if I switch class A stock to B ?
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