0
To calculate the sale of stock shares, you must first enter the date and price of the shares at the date of purchase, this is your basis. This amount is subtracted from the sell price to obtain your net gain or loss. Ex: 200 shares purchased on 6-16-2000 for $100 per share = $20,000 basis 200 shares sold on 6-15-2008 for $250 per share = $50,000 Stock shares held for less than 12 months is considered short term; more than a 12 month period is considered long term. Short term capital gains are taxed at a higher rate. To determine your capital gain on the above example: $50,000 less $20,000 = $30,000 taxable capital gain for the year of the sell. If you have a loss, remember that you can only deduct $3,000 per year until the full amount of the loss is depleted. http://taxresolutionaries.blogspot.com
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How you Calculate Provision for Income tax?
how to calculate provison for income tax
How do you calculate income tax on a budgeted income statement?
You divide the percent of tax to your total and you will get your answer
How do you calculate pretax net operating income?
How do you calculate pre-tax net operating income
How to Calculate income tax on the income statement?
You can't income tax is based on TAXABLE income, not financial statement income.
How do I find out what my income tax percentage is?
There are many websites available online that can help you calculate your income tax percentage. It is usually based on your income and the type of income that you have.
How you Calculate Provision for Income tax?
how to calculate provison for income tax
How do you calculate income tax on a budgeted income statement?
You divide the percent of tax to your total and you will get your answer
A shareholder is liable for the tax on their shares of the corporation's income Is this income subject to self employment tax?
No. And it is ONLY subject to capital gains tax...a much lower rate...as it is investment income.
How do you calculate pretax net operating income?
How do you calculate pre-tax net operating income
Where can I learn how to calculate my income tax?
H & R Block has a tax calculator that will help you calculate your income tax. You can also visit the IRS's website and there they will be able to help you find out.
What formula do you use to calculate income tax?
To calculate income tax, one should sum up the totals of all the taxable income and subtract from it the personal allowance and any other tax free allowances. After that, one should apply the rate of tax on the resultant value to find out the income tax payable.
How to Calculate income tax on the income statement?
You can't income tax is based on TAXABLE income, not financial statement income.
What website would be applicable if wanting to calculate an income tax refund?
If you are looking to calculate a income tax refund you will need to go to your local tax office's website. Here you will find an online calculator so you can calculate your refund.
How do I find out what my income tax percentage is?
There are many websites available online that can help you calculate your income tax percentage. It is usually based on your income and the type of income that you have.
Can I calculate my tax bracket by entering my family's total income?
how much tax will they take out of my paycheck $135,000 joint income
What are disadvantages of preference shares?
dividends are taxed at same rate as income so higher the income the more prone are you to tax payments
Where can one calculate business income tax online?
The official IRS website can be used to calculate business income tax. Also, third party vendors like Turbo Tax or H+R Block are useful for this purpose.
