Playing Stocks - How much tax do I have to pay?

[Kenji4861]

Say I play stocks this year and buy

$10,000 worth of stocks and sell them all off.. when it's worth $10100.

Do I get taxed on the $100 gain or is it a lot more complicated then that? Thanks!

 

[AccruedExpenditure]

Capital Gains tax on what you made. 15 Percent in 2003.

 

[Hector13]

Originally posted by: Gnote
Capital Gains tax on what you made. 15 Percent in 2003.

that's if you hold them for more than a year. If you hold them for less than a year, then you are taxed on that $100 as regular income. Still pretty simple. Things get a bit more complicated if you have dividends (espcially foreign ones) in which case you may or may not end up paying regular income tax on them.

 

[Noirish]

it gets even more complicated when you buy and sell different lots, reporting wise.