How much will I have to pay in taxes if I sell stock?
Sunday, May 2nd, 2010 at
12:29 pm
My spouse has had the same stock for over ten years. Now we are interested in selling. What do you think how much do we (or will have to) pay taxes concidering the fact we live in Canada.
Tagged with: 10 years • Canada • IRS • Stock • tax report • Taxes
Filed under: Stock Market
Like this post? Subscribe to my RSS feed and get loads more!
You will have to pay tax at your regular marginal tax rate on 50% of the gain (Proceeds of sale less cost)
Depending on your income level and province of taxation the rates can vary. Assuming you are at the highest marginal rates- income over 70K then you will pay at worst 50% of the taxable gain or 25% of the gain ( 50% of 50%)
Some provinces ie alberta will be lower. 25% is worst case senario.