I've been investing in some stocks over the last year and have never done taxes with investment profits. What is the tax percent on capital gains?
I've been investing in some stocks over the last year and have never done taxes with investment profits. What is the tax percent on capital gains?
user
When the last time you did a capital gains tax was?
assistant
I've never paid capital gains tax.
user
It looks like you have not reported any capital gains in over five years.  Since you live in the United States, the federal tax rate on capital gains is currently about 20%.  It is possible that your local tax laws vary somewhat.  In particular, some states will impose higher taxes.
assistant
So I'll have to pay both my state and the government taxes on the money I made a profit on?
user