Brokerage Account Tax Loop Holes for Beneficiaries
1.Introduction.
What is a Brokerage Account?
It is an arrangement where an investor deposits money with a licensed brokerage firm. This firm places trades on behalf of the customer.
What are the tax implications of selling investments in a Brokerage Account?
When the customer sells an investment, they will need to pay either short term capital gains (income level taxes, see tax brackets - up to 39.6%) or long term capital gains (ranging from 0% to 20% based on taxable income). Capital gains is any profit your original investment has earned. Long term capital gains is any sale that is 366 days…
The skinny
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