04-15-2005, 10:08 PM
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 Re: Calculating Capital Gains Tax kb1jec[at]gmail.com writes: - quote - > I have held a stock for over a year. I bought several lots
Absent a specific id of shares, you are assumed to be> of it on different dates in April, June and August of 2004. > If I sell the number of shares I bought in April (780 > shares), I assume that is taxed at the long term rate, > correct? selling the oldest shares first. So yes, that is correct. - quote - > But.. what happens if I sell more than the 780 I
Yes.> bought a year ago - do I enter the 780 as a long-term gain > and everything else under short term, even though it is just > one sell stock trade? - quote - > Also, anyone know what the long/short term capital gains
Long-term = 5.3%> rates are for Massachusetts? Short-term = 12% See MA Form 1, Sched B, and Sched D. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-14-2005, 04:50 PM
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| Calculating Capital Gains Tax I have held a stock for over a year. I bought several lots of it on different dates in April, June and August of 2004. If I sell the number of shares I bought in April (780 shares), I assume that is taxed at the long term rate, correct? But.. what happens if I sell more than the 780 I bought a year ago - do I enter the 780 as a long-term gain and everything else under short term, even though it is just one sell stock trade? Also, anyone know what the long/short term capital gains rates are for Massachusetts? Thanks. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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