Broker Detective Blog

April 26, 2010

If a decrease in capital gains rate actually increases tax revenue, why does Obama want to raise it to 28%?

Filed under: Uncategorized — admin @ 5:09 am

MNL asked:


It’s currently 15%.

Hillary said that if she would increase it she would increase only to 20%.

Does Obama understand economics?

100 million people (79% Americans making below $100,000 income) own stock. Wouldn’t an increase in capital gains rate burden the middle-class even more?

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Comments (20)

April 16, 2010

Are my recent dividend reinvestments taxed at the short term or long term capital gains tax rate?

Filed under: Uncategorized — admin @ 12:14 pm

Edwin H asked:


I have a regular brokerage account (not tax deferred). I bought a mutual fund a number of years ago, and over the years the dividends have been reinvested in the same fund. This year, I was advised to rebalance my portfolio, so I sold all of this mutual fund. Unfortunately, the last dividend reinvestments were within the last year.

So the question is, does this reinvestment cause my entire mutual fund sale to be taxed at the long-term or the short-term capital gains tax rate? Or is the recent reinvestment portion short term and everything else long term? If so, what do I use for the tax basis for all of that?
It’s not the dividends I am asking about. It is the reinvestments of them. When I sold the mutual fund, all of the fund, including the reinvestments got sold. The question is, are each of the small little reinvestments taxed separately, or in one big lump?

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April 10, 2010

Is the capital gains tax the same rate for all tax brackets?

Filed under: Uncategorized — admin @ 3:39 pm

Amy asked:


I know the capital gains rate “for the rich” will go up if the Bush tax cuts expire. Are there tax brackets for capital gains like for earned income, or will it go up for the rest of us too?

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April 9, 2010

Does the wash sale rule apply to profits or just losses?

Filed under: Uncategorized — admin @ 9:11 am

Bobby asked:


I bought a stock, and sold it for a profit.

Now, the stock price is going back down to where I originally bought it at in the first place. It has been less than 30 days since I sold the stock for a profit.

Can I buy the stock again without the wash sale rule adding on to my cost basis, since it was a profit?

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