Stock Markets Exposed - Do I has to pay tax, if my stock porfolio lossing money?

Do I has to pay tax, if my stock porfolio lossing money?

Do I still has pay tax, if my portfolio for the whole year has lose money, but some stock has gain value i sold it and brought other stock, but it lose value still won't recover basically the money i invest is less ended in the fiscal year, do i has to pay tax on it? does the trade company like Etrade take me a statement for it? how much % tax, if earn less than 50 selling stock still tax?

Public Comments

Yes, you have to pay taxes on what you make. Since you haven't sold the stock yet, you technically haven't lost (or gained on a few) money yet. At the point when you sell the stock, then you can take the deduction as a capital loss or ofset capital gains if those stocks were sold in the same year.
I can has cheezeburgerz? You must pay taxes on whatever money you take in as income. Period.
Until you sell the stock, you haven't lost or gained anything - it's just a bunch of figures on paper going up and down everyday. If you sell the stock for less than what it was worth when you bought it (stuuuuupid) then you will have a loss, and you will not owe taxes on it. If you sell it for more than what you paid for it (preferable) then you will owe taxes based on the difference. Yes, you will get a statement from whatever brokerage you are using (and a 1099 at the end of the year) stating how much you received from the sale. Keep all records relating to the purchase and sale of your stocks to prove any losses or gains.
The portfolio you still have doesn't matter. If you held onto the stock through the end of the year, then it isn't counted one way or the other for this year's taxes. If you bought stock this year, it doesn't matter, even if you used money from selling other stocks to do it. The IRS is interested in two questions: What stocks did you sell last year? Did those stocks sell for a profit or a loss?
You dont pay taxes unless you actually sell the stock for a profit. Your cost basis in the stock is the purchase price plus any commission you paid. Your selling price is the price paid plus any commission paid. You pay taxes on the difference. If you sell one and get a $100 profit and sell another for $60 loss then you pay taxes on the 100 - 60 = $40