Taxes on Brokerage Account

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3 жыл бұрын

Taxes on Brokerage Account - Have you ever wondered about a brokerage account taxes and had questions about your taxable brokerage account? If you have a brokerage account and asked what are the tax benefits from a brokerage account, you would benefit from Understanding Your Options. Having Tax Strategies can be a part of Retirement Planning. Most have a goal of retiring comfortably and if you secure your retirement this video is a must watch.
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• Taxes on Brokerage Acc...

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@richmmdt223 Жыл бұрын

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@vandrex234 Жыл бұрын

I've checked him online and scheduled a call session with him. Thanks for the update Terry

@wallys7016 2 күн бұрын

Do you get a form from say Fidelity or the financial institution when you sell an ETF or stock for Capital Gains? Then you’d pay tax on them say for example you sold something this year you’d pay tax in 2025 when you file taxes correct?

@kckuc310 4 ай бұрын

Yep lost me at annuities, most are getting tax at either zero or 15 percent on gains. It’s a steal , don’t worry about taxes. Be careful of your investments and turnover, or else the mutual fund will dictate your capitol gains.

@el-hp1lj Жыл бұрын

So lets says I have 2 accounts. 1 is a qaulifed IRA account with 100,000 and one is a non qaulified taxable account like a brokerage with 100,000. Lets says im feeding each one with cash contributions at 300 a month for a total of 3600 each year to each account. The IRA i will have 3600 deduction from my income and the NQ will have no deduction and just be deferred? In a perfect world would it make more sense to max out the IRA contribution and lessen the contribution to the taxable account if the 7200 was all I had to contribute?

@SaffyLabby Ай бұрын

Can I invest into a brokerage account even if it’s from foreign earned income? I know you can’t invest in IRAs

@PreAlgebra Ай бұрын

So if my brokerage account grows in value, will the dividends get taxed in the income tax bracket or some other tax bracket. The 1099-B is a little confusing.

@Programingwithzakia 5 ай бұрын

I thought devidance are not taxable if they are reinvested

@timcarb3470 4 ай бұрын

What if I just invest in index funds in my regular brokerage account and never sell I just keep reinvesting and never sell.. so I pay taxes?

@hiphopjewels 4 ай бұрын

If they are giving you dividend payments, you still have to pay taxes on the dividends. Otherwise, you don't pay taxes until you sell the securities (if there are gains) and that too will trigger a taxable event. Your brokerage will provide you with a tax form detailing any income, dividends or otherwise, that you need to report to the IRS.

@FLOODOFSINS 4 ай бұрын

I think I totally messed up. I didn't know there was a individual brokerage account. I thought the act of opening up a Schwab account was a brokerage account since Schwab is a brokerage. So then I opened a IRA. So now how do I transfer a lot of money from an IRA to a empty brokerage account that I just opened? And will I be killed on taxes? No one explained this to me when I opened up my account. I just assumed it was an IRA because everybody was saying to open an IRA.

@SecureYourRetirement 4 ай бұрын

This needs to be a conversation to understand all the steps

@chrisburnett9618 7 ай бұрын

Taxes are not that big of a deal if you know what you're doing. Taxable accounts have tons of advantages: borrowing on margin, trading options, tax-loss harvesting, etc., etc. If you're self-employed or own a business, there are oodles of ways to write off your tax expenses.

@FLOODOFSINS 4 ай бұрын

I thought you still have to pay taxes on a tax gain even if you don't take a distribution within an IRA.

@acilirp 22 күн бұрын

Nope, I bet you're still paying taxes by selling all the stocks and moving to an annuity and then paying taxes again when you get the distributions. This is like telling people not to have a savings account die to the taxes.

@user-tb7rc1uj5u 2 ай бұрын

You lost me at annuity! Keep etfs in Brokerage people! Very simple!!!

@channelJSC 2 жыл бұрын

Thanks for the info. I have a new brokerage account and will be paying taxes on it for the first time next year. Any thoughts on whether I should be pulling from the principal of the account itself to pay those, or use funds in my savings account? Does it matter?

@Chinews773 2 жыл бұрын

J-Crock can you plz help me. This is crazy so u get double taxed ( example you put 10 k on Tesla and it goes up 5 k, now you have 15k ) so you take that 5 k and just move to another stock (not withdrawal)? Because then that other stock u put 5 k into , when you cash out that stock /withdrawal to bank, you just got double taxed!! I'm new someone please help me, I will get double taxed? How the hell can you make money then!!! Please someone help!!! That is literally my position ^ I took 5k gains out and just moved to another stock, so now I get taxed on the 5k I took out of Tesla and get taxed on whatever I make on my other stock ,where I put that 5k into? Double taxed ! Cmon no way!!! Please help me understand, my first year. I appreciate it

@shahriazshaon4300 4 ай бұрын

@@Chinews773You are not double taxed. If you are using a brokerage account, not Roth or Traditional IRA, then when you sell a stock and make profit like $5k, you will pay tax on this gain. It doesn’t matter if you sell and use this gain to buy another stock. Once you sell a stock, capital gain is taxed at your ordinary income tax bracket. If your other stock is giving you dividend, you pay tax for dividend as well depending on whether it is a qualified or ordinary dividend.

@SecureYourRetirement 3 жыл бұрын

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@donh8223 Жыл бұрын

How much are your fees on top of the monthly $20 charge, and when the money is withdrawn from the annuity, is it taxed at marginal rates or capital gain rates?

@igot5onit423 2 жыл бұрын

If I make 35000 a year and I have a 100 grand in a brokerage account how much will my brokerage account be taxed if I want to take it all out.. I'm confused because capital gains tax is 0% if i make under 40k.. but I'm obviously paying something in taxes if I take it out?? Please help

@SecureYourRetirement 2 жыл бұрын

How much gain is in the brokerage account? Or how of has it grown?

@Chinews773 2 жыл бұрын

This is crazy so u get double taxed ( example you put 10 k on Tesla and it goes up 5 k, now you have 15k ) so you take that 5 k and just move to another stock (not withdrawal)? Because then that other stock u put 5 k into , when you cash out that stock /withdrawal to bank, you just got double taxed!! I'm new someone please help me, I will get double taxed? How the hell can you make money then!!! Please someone help!!! That is literally my position ^ I took 5k gains out and just moved to another stock, so now I get taxed on the 5k I took out of Tesla and get taxed on whatever I make on my other stock ,where I put that 5k into? Double taxed ! Cmon no way!!! HELP!!! Plz

@Chinews773 2 жыл бұрын

I have individually account on robinhood plz help me understand my question? ^ plz

@Danny-ee7wu 2 жыл бұрын

From my understanding, no you don't get double taxed on that 5k, you pay taxes on the capital gains because your initial contributions would already be taxed. In your scenario, the 5k from tesla was taxed when you moved it from tesla to another stock. This 5k now becomes your initial contribution that has already been taxed. Let's say that 2nd stock grows from 5k to 20k and you withdraw the full 20k, you'll only get taxed for that 15k you gained, because the initial 5k was already taxed. Therefore, no double tax. I'm still learning about this stuff too tho so more research may be needed

@Chinews773 2 жыл бұрын

@@Danny-ee7wu so your saying that 5 k I move to another stock will get taxed? If that answer is yea, then I will get taxed again, because I move it to another stock and it goes up and I withdraw that other stock I get taxed on the other stock to when I withdrawl, I don't get how and y they can tax me on the example^ just move 5k gains from Tesla to another stock

@Chinews773 2 жыл бұрын

@@Danny-ee7wu so 5k is ganna get taxed to is what I'm saying, so that means I get taxed twice in my senirio ^?

@Danny-ee7wu 2 жыл бұрын

@@Chinews773 yes, the 5k gets taxed when you moved it from tesla to the 2nd stock because the 5k was capital gains. When you put it into the second stock and it goes up and you withdraw from that second entirely, you WONT get taxed on that 5k again because that 5k is no longer considered capital gains, that's just your initial investment. You get taxed on your capital gains, not your initial investment.