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2024-11-22 14:35
Say I have 20k in RobinHood and I make a total of 1k profit doesn’t matter when or how long it takes but I decide to withdraw the 1k do I pay taxes on that? Or only when I withdraw the entire 20k?
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TheBudgetMarine
thebudgetmarine
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2 小時內
Ian Ceasar Bonachita
ianceasarbonachita
you wont be taxed unless you realized your gains. if selling, be mindful of short-term capital gains tax (same as income tax). holding stocks for more than a year then sold at a profit will be taxed less(15%) as long-term capital gains tax applies.
7 小時內
The Perfect Portfolio
theperfectportfolio
Never sell. Use the “Buy, Borrow, Die” strategy. Learn the basics here. You can do it on M1 Finance and Robinhood. https://m.youtube.com/watch?v=InMrroqCAq0