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UPS stock at 10% off?
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<blockquote data-quote="jasar13" data-source="post: 213898" data-attributes="member: 7722"><p>Stock sales do not show on your W2. They show on a 1099-B that is issued to by the institution holding the shares. You show the gains and losses on Schedule D of the federal tax form. </p><p> </p><p>You do not pay ordinary income tax on the capital gains (difference between the sales price and the purchase price).</p><p> </p><p>Some info from the IRS website <a href="http://www.irs.gov/newsroom/article/0,,id=106799,00.html" target="_blank">http://www.irs.gov/newsroom/article/0,,id=106799,00.html</a>.</p><p> </p><p style="text-align: left"><em><span style="color: blue">Here are a few tax facts about capital gains and losses:</span></em></p> <ul> <li data-xf-list-type="ul"><p style="text-align: left"><em><span style="color: blue">Capital gains and losses are reported on Schedule D, Capital Gains and Losses, and then transferred to line 13 of Form 1040.<br /> <br /> </span></em></p> </li> <li data-xf-list-type="ul"><p style="text-align: left"><em><span style="color: blue">Capital gains and losses are classified as long-term or short-term, depending on how long you hold the property before you sell it. If you hold it more than one year, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term.<br /> <br /> </span></em></p> </li> <li data-xf-list-type="ul"><p style="text-align: left"><em><span style="color: blue">Net capital gain is the amount by which your net long-term capital gain is more than your net short-term capital loss.<br /> <br /> </span></em></p> </li> <li data-xf-list-type="ul"><p style="text-align: left"><em><span style="color: blue">The tax rates that apply to net capital gain are generally lower than the tax rates that apply to other income and are called the maximum capital gains rates. For 2006, the maximum capital gains rates are 5%, 15%, 25% or 28%.<br /> <br /> </span></em></p> </li> <li data-xf-list-type="ul"><p style="text-align: left"><em><span style="color: blue">If your capital losses exceed your capital gains, the excess is subtracted from other income on your tax return, up to an annual limit of $3,000 ($1,500 if you are married filing separately).</span></em></p> </li> </ul></blockquote><p></p>
[QUOTE="jasar13, post: 213898, member: 7722"] Stock sales do not show on your W2. They show on a 1099-B that is issued to by the institution holding the shares. You show the gains and losses on Schedule D of the federal tax form. You do not pay ordinary income tax on the capital gains (difference between the sales price and the purchase price). Some info from the IRS website [URL]http://www.irs.gov/newsroom/article/0,,id=106799,00.html[/URL]. [LEFT][I][COLOR=blue]Here are a few tax facts about capital gains and losses:[/COLOR][/I][/LEFT] [LIST] [*][LEFT][I][COLOR=blue]Capital gains and losses are reported on Schedule D, Capital Gains and Losses, and then transferred to line 13 of Form 1040. [/COLOR][/I][/LEFT] [*][LEFT][I][COLOR=blue]Capital gains and losses are classified as long-term or short-term, depending on how long you hold the property before you sell it. If you hold it more than one year, your capital gain or loss is long-term. If you hold it one year or less, your capital gain or loss is short-term. [/COLOR][/I][/LEFT] [*][LEFT][I][COLOR=blue]Net capital gain is the amount by which your net long-term capital gain is more than your net short-term capital loss. [/COLOR][/I][/LEFT] [*][LEFT][I][COLOR=blue]The tax rates that apply to net capital gain are generally lower than the tax rates that apply to other income and are called the maximum capital gains rates. For 2006, the maximum capital gains rates are 5%, 15%, 25% or 28%. [/COLOR][/I][/LEFT] [*][LEFT][I][COLOR=blue]If your capital losses exceed your capital gains, the excess is subtracted from other income on your tax return, up to an annual limit of $3,000 ($1,500 if you are married filing separately).[/COLOR][/I][/LEFT] [/LIST] [/QUOTE]
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