 Just checked Where's My Refund...? |
It is now corrected to say DD on 1/30. You all may want to check again! Interesting how they got the glitch fixed and was able to UPDATE WMR more than once a week! LOL
Additional Details<... |
|
 Can you claim a child even if they did not live with you during the past year? |
I have custody papers that say that I can claim my daughter, but she has lived with her dad for the past 20 months. Should I claim her or not?
Additional Details
I am actually the child&... |
|
 Do I get to claim mortgage interest that was payed in 2006 on my tax refund.? |
| If so, would I do it on a 1040? Do I get the whole amount back? If you could just answer to the best of your knowledge. I know that answers isn't for legal advice. I'm jsut trying to get ... |
|
 How long after the deadline did you receive your stimulus check? |
| My check is being mailed no later than July 4th (a holiday) so when can I expect my check in the mail? The letter says it should be here a few days after, but since it's a holiday I'm not ... |
|
 I just got married. What last name should I use to file my tax returns for this year? |
| This may be a stupid question, but do I use my married name or my maiden name? I ask because I still get checks from work with my maiden name and have not changed my bank account yet. However, I ... |
|
 If i am sacked due to illness will i be able claim benefits? |
| due to illness i have had alot of time off.my work have told me either to leave or be sacked.my doctor has advised me to leave. but i have just been told if i leave i cant claim benfits if i am ... |
|
 How can you track your federal income tax return? |
| its been about 8 weeks since i sent in my federal tax return and i need to know how i can find out if it was ... |
|
 My financial advisor told me I can claim my meals, mileage, haircuts and...? |
| and clothing on my taxes for my work. I am employed, not an independant contractor. I go to the location in my town twice a week, and travel 66 miles 3 days a week to another town. I don't ... |
|
 Bloomin Hell? |
| If you click on all the countries under taxation, USA has 2 questions, others none (I think) and UK 38+ questions. Is our tax system that bad?... |
|
 If i bought an item on ebay from an international seller. Would I get taxed when it is posted to me in the UK? |
| More specifically i was looking to buy a sports racket. The listed price from power sellers in Hong kong looks cheap. Would I get taxed by the customs here in UK when the package arrives. And if so, ... |
|
 Is there a standing reward of $100,000.00$ to anyone that can provide a law requiring you to file a tax return |
a tax code rule that says if you are required to file a Federal Tax return then you must file dose exist.
But you are not required to file.... |
|
 Help with taxes!!? |
| Does anyone know of a website where it explains the meaning of claiming single or married and the amount of dependants? I am married and I would like to have more taken out of my paycheck each week ... |
|
 How can I get less taxes taken away from my paycheck???!!!???!!!? |
I make a good income and feel that taxes are killing me. I get paid biweekly and and my check is $2925 and it comes out to $1885 after taxes!?!?!?!!? How can I get this down?
My Dad is ... |
|
 IRS Stimulus check question? |
| did anyone get their stimulus check yet? How long did it take after your letter came to get it? also what numbers does your last two digets fall under? I know I supost to get mine within this week or ... |
|
|  |
CCB | What is the capital gains tax rate on interest paid from privately held stock? |
|
 |
 
xsaintnsinner86x
 |
i believe its 15% |
|
lade40free
 |
Interest income is taxed as ordinary income. Dividends can be taxed at the maximum capital gain rate of 15%. |
|
jeff the drunk
|
42, its always the answer. |
|
TaxGuru
|
I assume that you mean dividends. The maximum rate of tax on dividends from ordinary domestic corporations is 15%.
Please consult your tax advisor for more details. |
|
Arbitrage
 |
If you're talking about the dividends on the stock, then it's 15% or 5% depending on your tax bracket, I think. This was signed in 2003. It might be different because it's privately held, but the goal was to end double taxation, so you should see the lower rate. You might want to check with a professional. Before, it would be taxed as ordinary income.
While distributions are normally taxed as dividends, you wouldn't really be seeing capital gains tax unless you exited your position, but it doesn't sound like you're doing that here.
The normal capital gains tax for long term positions (more than a year) is 15% or 5%, depending on tax bracket. Short term gains are taxed as ordinary income. |
|
Your Greasy Granny
|
on interest PAID: 0%
on interest EARNED: depends widely on the type of stock. Can range from 5-50% |
|
karentanaka
|
Capital gains is not paid on interest income.
Interest and dividend income is taxed as ordinary income.
Capital gains only applies to the difference in the price of the stock itself when you sell it. |
|
B's Girl
 |
The highest tax rate on a net capital gain is generally 15% (or 5%, if it would otherwise be taxed at 15% or less). There are 3 exceptions:
1. The taxable part of a gain from qualified small business stock is taxed at a maximum 28% rate.
2. Net capital gain from selling collectibles such as coins or art is taxed at a maximum 28% rate.
3. The part of any net capital gain from selling Section 1250 real property that is due to recapture of straight-line depreciation is taxed at a maximum 25% rate. |
|
wickdstpmthr
|
OMG, this is a great example of why you don't go to the internet for professional advise. Heaven help you if you listened to most of that crowd. Shaunna gets the "A". But I want to simplify it a little more.
Stock pays ordinary dividends out of these dividends some may be qualified dividends. If there are some qualified dividends (this would be from stock held for a specific amount of time) they are eligible for a lower tax rate which is a capital gains tax rate. You then are required to do a worksheet in the 1040 instructions to determine what rate the portion of the dividends falls into a capital gains rate.
For example you have $950 in ordinary dividends and $700 in qualified dividends. $250 of the dividends would be taxed at your normal tax rate & $700 would be taxed at 5 or 15%.
You would place your ordinary dividends on line 9a of form 1040 and qualified on line 9b. Last year the worksheet was about page 33 or 34 I believe (sorry I don't have instructions handy)
Reference:
How to Report Qualified Dividend Income
Payers report qualified dividends to shareholder in box 1b of Form 1099 – DIV. The shareholder reports these dividends on line 9b of Form 1040 or Form 1040A....
If a shareholder has qualified dividends, the shareholder’s tax is figured by completing either:
Schedule D (Form 1040) or the Schedule D Tax Worksheet
Or
The Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 instructions or Form 1040A instructions.
www.irs.gov
_____________________________________
On the other hand if you took out a loan to invest in stock you are talking about investment interest (which you would pay) and you would have to itemize to report that. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 34 minutes(s) ago
| | | |
8 | 2 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 3 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 1 month(s) ago
| | | |
9 | 5 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
