If I pay my income tax before I buy an investment (Ex - Stocks) do I than have to pay taxes again on the gains I made?
If I pay my income tax before I buy an investment (Ex - Stocks) do I than have to pay taxes again on the gains I made? If the stock gives me dividends do I have to pay taxes on those as
- 3 weeks ago
Depending on the jurisdiction, cap gains tax is payable on any upside. But I dont understand how income tax is payable upon purchasing an asset? Please explain more?
- STEPHENLv 71 month ago
Income tax and capital gains tax are calculated separately.
- JudyLv 71 month ago
yes you'd pay income tax on any gains from the investment
- StephenWeinsteinLv 71 month ago
If you do it through a Roth IRA, no.
If you do it the normal way, yes.
- How do you think about the answers? You can sign in to vote the answer.
- 1 month ago
Yes, your gains are taxed. Yes, dividends are taxed.
- G. WhilikersLv 71 month ago
Yes to both. For the capital gains, that's new income that hasn't been taxed yet.