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teach pastapete capital gains tax.

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PastaPete

Member
Back in August of 2005, I started an investment plan with his company, I winded up purchasing 118 shares of a stock, we'll call it GRL (Gurelli, from that dumb ameritrade commercial) dollar cost averaging to a cost basis of 38.76 per share, the stock is now worth 41.26. I earned approximately 295.00 and I invested 4574 and ended up with 4872. A gain of approx 298.00. Now my tax bracket is, say 25% and I don't think it will change any time soon. Is it safe that I withhold 25% of 298, or about 75 bucks? Is that the gist of capital gains?
 
cliffs:

bought at 4574
its worth 4872
tax bracket 25% will prob be that for a while

need the money now, what should i withhold? 298*.25 or around 75 bucks?
 
Don't withold anything. Just pay the tax at the end of the year. I don't think the government will care you didn't pay the $75 estimated quarterly payment.
 
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