Stocks- taxed, sell or keep

x2thaz

macrumors member
Original poster
Apr 1, 2012
30
0
I asking for your advice about my AAPL stocks which I have about 35 shares when I bought them at $30 per share. This year 2012 I have been volunteering overseas and did not make enough money to file a tax return for 2011. I was told that if I sold my stocks before this year 2012 I would pay less taxes on the profit I made because I didnʻt make enough income tax. If I were to keep my stock past 2012 I would have to pay taxes off of what I made which would be significantly more because I would have made more money on my income tax.

Does this sound right or?
Thanks
 

Ay_Zimmy

macrumors 6502
Jan 9, 2010
272
1
Long Island, NY
Do not sell your shares, you need to make money another way, your going to regret it a lot when your shares are worth double the value they are now in as little as 2014-2015. Trust me on this one.
 
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G51989

macrumors 68030
Feb 25, 2012
2,530
10
NYC NY/Pittsburgh PA
Do not sell your shares, you need to make money another way, your going to regret it a lot when your shares are worth double the value they are now in as little as 2014-2015. Trust me on this one.
The stock market is never a sure thing. Apples stock can go either way. Its not a 100% thing that it will keep going up. You never know what will happen.

Ask anyone who invested in JUNO back in the day :D
 
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rdowns

macrumors Penryn
Jul 11, 2003
27,400
12,510
I asking for your advice about my AAPL stocks which I have about 35 shares when I bought them at $30 per share. This year 2012 I have been volunteering overseas and did not make enough money to file a tax return for 2011. I was told that if I sold my stocks before this year 2012 I would pay less taxes on the profit I made because I didnʻt make enough income tax. If I were to keep my stock past 2012 I would have to pay taxes off of what I made which would be significantly more because I would have made more money on my income tax.

Does this sound right or?
Thanks


You would pay the long term capital gains rate on the profits if you were to sell. Your rate is dependent on your income tax rate. See here:

http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
 
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ftaok

macrumors 603
Jan 23, 2002
6,184
1,193
East Coast
OK, I'm no accountant or CPA, but I do play one on the internet.

To me, if you worked, there's no such thing as too little money to file a return. If you worked and got paid, then they would have withheld taxes for you. If you made very little money and don't technically need to file, you still should. You'll likely get all of your money back. Could be very little, but it's still worth your time to file. The Standard Deduction and Personal Exemptions are very powerful ...

Also, depending on the state you live in, you pretty much have to file a state return.

As for the issue of Capital Gains ...

Since you bought at $30, these shares fall under a Long Term holding. Depending on your income, you'll may pay either 15% or 0%. But this will likely end after this year. Unless Congress acts, the Bush Tax Cuts will expire and LT Cap Gains will be taxed at higher rates (see the link that rdowns provided).

ft
 
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Ay_Zimmy

macrumors 6502
Jan 9, 2010
272
1
Long Island, NY
The stock market is never a sure thing. Apples stock can go either way. Its not a 100% thing that it will keep going up. You never know what will happen.

Ask anyone who invested in JUNO back in the day :D
I absolutely agree with you, but at this point we all know Apple has yet to peak. It's definitely worth the wait until Apple releases it's television, we have no clue what's really happening with that.
 
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