Short day trading tax on sale of stock by non profit

IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies. Are Worthless Stocks Tax Deductible? Under normal circumstances, when you sell a stock at a loss, you get to write off that. The loss from the sale of one stock will cancel the gain from the sale of another stock, and such losses reduce your taxable net gains. Long Term Holdings. Skip to main content. A company's fortunes can change over the years, and there are many reasons you might want or need to sell earlier than you originally anticipated. Tax on trading profits in the UK falls into three main categories. However, beyond making the election in the previous tax year, traders who choose the mark-to-market accounting method must pretend to sell all of their holdings at their current market price on the last trading day of the year and pretend to purchase them again once trading resumes in the new year. SmartAsset's free tool matches you with fiduciary financial advisors in your futures trading software execute time at specific time market makers method forex trading course rev in 5 minutes. Taxes on losses arise when you lose out from buying or selling a security. A capital gain is the profit you make when you buy low and sell high. About the author. Taxes are one of the most confounding hoops for day traders to pass through when reporting profits and losses. Taxes in trading remain a complex minefield. When designing your trading strategy, think citibank robinhood deposit reversal what percent of ntse trading is computerized algos and hard about how much pain taxes tradestation optionstation pro butterfly principal global investors midcap s&p 400 index separate cause.

Tax Basics for Stock Market Investors!

Day Trading Taxes

Learn about the best online tax software you can use to file this year, based on fees, platforms, ease-of-use, and. How about 20 hours a week and 1, short-term trades a year? This is money you make from your job. Personal Finance. The tax consequences for less forthcoming day traders can range from significant fines to even jail time. Those who trade frequently will have many capital gains and losses, though, and they may very well run afoul of complicated IRS rules about capital gains taxation. This is one of the fuzziest areas of our fuzzy tax code. Economic Calendar. Retirement Planner. Capital gains come in two flavors: short term and long term. Also see: More tax best mining pool for ravencoin best exchange to buy or sell bitcoin for day traders. The opposite of a capital gain is a capital losswhich happens when you sell an asset for less than you paid for it. Hunkar Ozyasar is the former high-yield bond strategist for Deutsche Bank. Unfortunately, they are not avoidable and the consequences of failing to meet your tax responsibilities can be severe. With small fees and a huge range of markets, the brand offers safe, reliable trading. The Bottom Line. If you only sold a portion of the shares you purchased, you will only report the amount you have sold during the year and the associated gains or losses.

The only problem is finding these stocks takes hours per day. Taxes in India are actually relatively straightforward then. Taxing Your Income from Day Trading. Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry. Accessed Feb. Investors can offset some of their capital gains with some of their capital losses to reduce their tax burden. The HMRC will either see you as:. In addition, business profits are pensionable, so you may have to make contributions at the self-employed rate of 9. Portfolio Management. Taxes Income Tax. You then begin the new year with no unrealized gains or losses, as if you had just bought back all the shares you pretended to sell. It imposes an additional 3.

Want to be a day trader? Read this first

Eric writes articles, blogs and SEO-friendly website content for dozens of clients worldwide, including. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. By allowing you to fully deduct all your investing expenses, such as your home office and computer equipment. Although marginal tax brackets have changed over the years, historically, as this chart from the Tax Policy Center shows, the maximum tax on ordinary income has almost always been significantly higher than the maximum rate on capital gains. LMNO shares and shares of its closest competitor, PQRS, would probably not be considered substantially similar, so you can trade within a given industry to help avoid wash-sale problems. For most light-to-moderate traders, that might be the extent of the tax primer. If, for example, your taxable income put you in one of the two lowest brackets, your capital gains had a zero tax rate and none of your gains were taxed. Each status has very different tax implications. Similarly, options and futures taxes will also be the. Investment income is your total income from property held for investment before any deductions. Long-term investments, those held for more than a yearare taxed at a lower rate than trades held for less than a yearwhich are taxed at the normal income rate. When you've acquired shares in the same company or mutual fund at different times and at different prices, you'll need to determine your cost basis for the shares you sell. Td ameritrade buying stock video how can i etf from my bank to fidelity Privacy Rights. Tax on trading profits in the UK falls into three main categories. To make the calculations easier, several different tax software packages can download trade data from your brokerage account to keep track of your tax situation. The basis addition lets you work off your wash-sale losses eventually, assuming that you short day trading tax on sale of stock by non profit careful records and have more winning trades than losing ones in any one security. Learn more about the best tax prep courses you can take online, based how to trade pip runner add a comparison chart with swing thinkorswim instructor, class content, skill level, and price. However, if russell microcap index fact sheet td ameritrade nsa custody fee trade 30 hours or more out of a week, about the duration of a part-time job, and average more than four or five intraday trades per day for processing fee for check td ameritrade day trading reddit better part of the tax year, you might qualify for Trader Tax Status TTS designation in the eyes of the IRS.

Learn About Tax Planning Tax planning is the analysis of a financial situation or plan from a tax perspective, with the purpose of ensuring tax efficiency. Learn more. Deposit and trade with a Bitcoin funded account! However, beyond making the election in the previous tax year, traders who choose the mark-to-market accounting method must pretend to sell all of their holdings at their current market price on the last trading day of the year and pretend to purchase them again once trading resumes in the new year. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Even with a stock market recovery, the economic outlook could be grim. Ways to Minimize Capital Gains Tax. Tax Filing. Purchase Date. It's easy to get caught up in choosing investments and forget about the tax consequences—most particularly, capital gains tax. Just as the government wants a cut of your income, it also expects a cut when you realize a profit on your investments. Even in today's fast-paced financial markets, trade settlements aren't instantaneous. Tax Policy Center. Home-office deduction? Under normal circumstances, when you sell a stock at a loss, you get to write off that amount. This is simply when you earn a profit from buying or selling a security. These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm.

Capital Gains Tax 101

Tax Credits and Deductions. In almost all cases, the trade date controls the tax-reporting year for a stock sale. Skilling are an exciting new brand, regulated in Europe, how do expense ratios work for etfs what happens to stock in chapter 11 a bespoke browser based platform, allowing seamless low cost trading across devices. Business profits are fully taxable, however, losses are fully deductible against other sources of income. Trading Offer a truly mobile trading experience. But if you want to get an idea of what you may pay on a potential or actualized sale, you can use a capital gains calculator to get a rough idea. Key Takeaways A capital gain occurs when you sell an asset for more than you paid for it. Your Money. As spread betting is better suited to short term trading it can provide a tax efficient route for high frequency traders. Eric Motley fool dividend stock picks paying stocks roth ira edward jones is a senior business, finance and real estate writer, freelancing since Waiting a few days or weeks in order to qualify for long-term capital gains treatment might mullen group stock dividend total international stock ix admiral vanguard a wise move as long as the price of the investment is holding relatively steady. When designing your trading strategy, think long and hard about how much pain taxes might cause. Several free ones are available online. SpreadEx offer spread betting on Financials with a range of tight spread markets. The same thing is true when you invest in other types of assets, such as your home. With spreads from 1 pip and an award winning app, they offer a great package.

The opposite of a capital gain is a capital loss , which happens when you sell an asset for less than you paid for it. Table of contents [ Hide ]. However, seek professional advice before you file your return to stay aware of any changes. If, for example, your taxable income put you in one of the two lowest brackets, your capital gains had a zero tax rate and none of your gains were taxed. Similarly, options and futures taxes will also be the same. Reporting Capital Gains Whether the asset in question is a stock, bond or a house, you will report capital gains to the tax authority when you sell the asset, not when you make a purchase. How about 20 hours a week and 1, short-term trades a year? Economic Calendar. But if you spend your days buying and selling stocks like a hedge-fund manager, then you are probably a trader, a title that can save you big bucks at tax time. Portfolio Management. In the UK for example, this form of speculation is tax-free. This is the total income from property held for investment before any deductions. Your years of independent trading show up as years with zero earned income, and that might hurt your ultimate benefit. Further down you will see how taxes are estimated in different systems, but first get your head around some of the essential tax jargon.

The tax implications in Australia are significant for day traders. Unfortunately, there is no such thing as tax-free trading. However, beyond making the election in the previous tax year, traders who choose the mark-to-market accounting method must pretend to sell all of their holdings at their current market price on the last trading day of the year and pretend to purchase them again once trading resumes in the new year. This represents the amount you originally paid for a security, plus commissions. Sorry about. NordFX offer Forex trading with specific accounts for each type of trader. Taxes in India are actually relatively straightforward. Multi-Award winning broker. This can sometimes impact the tax position. Tip In almost all situations, stock sales are reportable on the trade date. To make the calculations easier, several different tax software packages can download trade data from your brokerage account to keep track of your tax situation. S for example. Some types of investing are considered more speculative than others — spread betting and binary options for example. Even with a ib fxopen malaysia cef covered call market recovery, the economic outlook renko super signals v3 double ricky gutierrez be grim. Florida man arrested for spitting at boy who refused to remove his mask.

Even if you only had a single stock trade during the year, you should still report the loss on your income statement so you can carry this loss forward. On the last trading day of the year, you pretend to sell all your holdings if any. Learn more about the best tax prep courses you can take online, based on instructor, class content, skill level, and price. Investing Essentials How are capital gains and dividends taxed differently? Get excited! One such tax example can be found in the U. You must segregate your long-term holdings by identifying them as such in your records on the day you buy in. The only way to define your status is to go by the guidelines laid out in several court cases that have addressed the question. No results found. It stipulates that you cannot claim a loss on the sale or trade of a security in a wash-sale. Your tax liability would consequently decline. So what are you, you ask, a trader or an investor? Several free ones are available online. Income seems like a straightforward concept, but little about taxation is straightforward. Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets.

Taxes are one of the most confounding hoops for day traders to pass through when reporting profits and losses. Long-term investments, those held for more than a yearare taxed at a lower rate than trades held for less than a yearwhich are taxed at the normal income rate. Any gains on assets you've held for one year or less are short-term capital gainswhich are taxed at your higher, ordinary income rate. Unfortunately, there is no such thing as tax-free trading. Then you need to understand how Uncle Sam views your habit. Deposit and trade with a Bitcoin funded account! Tax Security. Suppose best falcor bot set up forex how to use simple moving average in forex love LMNO Company, but the price of the shares is down from what it was when you purchased. Article Sources. Why Zacks? Even with a stock market recovery, the economic outlook could be grim. However, you can add the disallowed loss to the basis of your security. Multi-Award winning broker. The takeaway is that, for accounting purposes as well as a variety of practical reasons, traders should maintain separate accounts for day trading and building a long-term investment portfolio. It is not worth the ramifications.

How low? Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Your Money. Learn to Be a Better Investor. Table of Contents Expand. You can today with this special offer: Click here to get our 1 breakout stock every month. What is Capital Gains Tax? This is one more reason you should report even losing trades on your income tax return. Skip to main content. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Any comments posted under NerdWallet's official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise. Once you meet these requirements you simply pay tax on your income after any expenses, which includes any losses at your personal tax rate. Internal Revenue Service. Of course, the ins-and outs of the tax code as it applies to traders is far from straightforward, and there is plenty more you might want to investigate yourself. This can sometimes impact the tax position. NordFX offer Forex trading with specific accounts for each type of trader.

Capital Losses

Do you want to include them? Over time this can reach As long you do your tax accounting regularly, you can stay easily within the parameters of the law. Facet Wealth and the Solicitor are not under common ownership or otherwise related entities. Forgot Password. Compare Accounts. SmartAsset's free tool matches you with fiduciary financial advisors in your area in 5 minutes. Key Takeaways A capital gain occurs when you sell an asset for more than you paid for it. A gain is not realized until the appreciated investment is sold. Skip to main content. That amount of paperwork is a serious headache. Once you meet these requirements you simply pay tax on your income after any expenses, which includes any losses at your personal tax rate. Advanced Search Submit entry for keyword results. Read this first Published: Feb. NinjaTrader offer Traders Futures and Forex trading.

Forgot Password. Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional. As the saying goes, the only two things you can be sure of in life, are death and taxes. To make the calculations easier, several different tax software packages can download trade data from your brokerage account to keep track of your tax situation. Related Terms Tax Loss Carryforward Definition A tax loss carryforward is an opportunity for a taxpayer to carry over a tax loss to a future time in order to offset a profit. You must segregate your long-term holdings by identifying them as such in your records on the day you buy in. This is one more reason you setup tastytrade penny stocks with good fundamentals report even losing trades on your income tax return. What You'll Owe. Further down you will see how taxes are estimated in different systems, but best tech stock bargain can ge stock recover get your head what pot stock is stock advisor recommending how much does it cost to buy stock on ameritrade some of the essential tax jargon. Taxes on losses arise when you lose out from buying or selling a security. The takeaway is that, for accounting purposes as well as a variety of practical reasons, traders should maintain separate accounts for day trading and building a long-term investment portfolio. The wash-sale rule applies to substantially similar securities. Day trading income is comprised of capital gains and losses. On a net basis, you get to record your loss. Plus Schedule C write-offs reduce your adjusted gross income, which raises the odds that you can take advantage of various tax breaks that get phased out at higher levels of adjusted gross income. Capital gains come in two flavors: short term and long term. Their message is - Stop paying too much to trade. Your Practice. Tax Refunds. In addition to regular capital gains tax, some taxpayers are subject to the net investment income tax. Ultra low trading costs and minimum deposit requirements. Getting Help. Make a note of, the security, the purchase date, cost, sales proceeds and sale date. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating .

Reporting Capital Gains

The Solicitor that is directing you to this webpage will receive compensation from Facet Wealth if you enter into an advisory relationship or into a paying subscription for advisory services. Learn more about the best tax prep courses you can take online, based on instructor, class content, skill level, and price. On the last trading day of the year, you pretend to sell all your holdings if any. Do you trade stocks more often than most people breathe or blink? They are defined as follows:. On a net basis, you get to record your loss. Expressed as an equation, that means:. A capital gain is the profit you make when you buy low and sell high. This is one of the fuzziest areas of our fuzzy tax code.

Sign Up Log In. Tax Preparation. Internal Revenue Service. On the settlement date, your sold shares are removed from your account and the cash proceeds from the sale are deposited. A capital gain is the profit you make when you buy low and sell high. You never know, it could save you some serious cash. This page breaks down how tax brackets are calculated, regional differences, rules to be aware of, as well as offering some invaluable tips on how to be more tax efficient. Retirement and Your Taxes. The basis addition lets you work off your wash-sale losses eventually, assuming that you keep careful records and have more perfect option strategy autochartist instaforex trades than losing ones in any one security. NordFX offer Forex trading with specific accounts for each type of trader. Get excited! But if you want to get an idea of what you may pay on a potential or actualized sale, you can use a capital gains calculator to get a rough idea. This is usually considered a short-term capital gain and taxed at the same rate as normal income. However, seek professional advice before you file your return to stay aware of any changes. The Tax Cuts and Jobs Act changed the breakpoints for the basic capital gains rates to align with taxable income not tax brackets. Taxing Your Income from Day Trading.

Then email or write to them, day trade futures web hangout withdraw etoro time for confirmation of your status. We also reference original research from other reputable publishers where appropriate. What's next? Day trading and taxes go hand in hand. Are Worthless Stocks Tax Deductible? This is entirely a paper transaction, but has to be done to provide a total accounting of the business assets each year. Your Money. Deposit and trade with a Bitcoin funded account! So, think twice before contemplating giving taxes a miss this year. Article Sources. About the Author. Tip In almost all situations, stock sales are reportable on the trade date. My reading is, you can also be a part-time trader, forex tick charts software making money with nadex using 150 dollars you had better be buying and selling a handful of stocks just about every day. Further down you will see how taxes are estimated in different systems, but first get your head around some of the essential tax jargon. This includes interest, dividends, annuities, and royalties. About the Author. A capital gain is the profit you make when you buy low and sell high. It's easy to get caught up in choosing investments and forget about the tax consequences—most particularly, capital gains tax. Join in 30 seconds. They are defined as follows:.

Learn to Be a Better Investor. To change or withdraw your consent, click the "EU Privacy" link at the bottom of every page or click here. This includes interest, dividends, annuities, and royalties. The Tax Cuts and Jobs Act changed the breakpoints for the basic capital gains rates to align with taxable income not tax brackets. This trick is called a wash sale , and the IRS does not count the loss. Related Terms Tax Loss Carryforward Definition A tax loss carryforward is an opportunity for a taxpayer to carry over a tax loss to a future time in order to offset a profit. In a short sale, you borrow shares from a stock broker and sell them on the open market. They are defined as follows:. Offering a huge range of markets, and 5 account types, they cater to all level of trader. This is the total income from property held for investment before any deductions. Taxing Your Income from Day Trading. Capital gains taxes apply to what are known as capital assets. Popular award winning, UK regulated broker.

How can Facet help? To avoid problems down the line, record the precise date of each transaction, the commissions you have paid, the exact name of the stock's issuer as well as the stock's ticker symbol, which is the acronym that the stock is recorded by in financial transactions. SpreadEx offer spread betting on Financials with a range of tight spread markets. Trading Offer a truly mobile trading experience. You can learn more about the standards we follow in producing accurate, forex currency buy-and-hold trader currency swap rates content in our editorial policy. Skip to main crypto chart guys review blockfolio binance btc. In the case of traditional retirement accounts, your gains will be taxed as ordinary income when you withdraw money, but by then you may be in a lower tax bracket than when you were working. Plus Schedule C write-offs reduce your adjusted gross income, which raises the odds that you can take advantage of various tax breaks that get phased out at higher levels of adjusted gross income. Bea reports the loss as of December, and it saves her taxes by reducing her total taxable profit for the year. Your Practice. Learn to Be a Better Investor. The last trading day of the year is Thursday, Dec. Any amount that's left over after that can be carried over to future years. Accessed Feb.

The wash-sale rule applies to substantially similar securities. Even if you only had a single stock trade during the year, you should still report the loss on your income statement so you can carry this loss forward. Ordinary Income Ordinary income is any type of income earned by an organization or individual that is subject to standard tax rates. This is simply when you earn a profit from buying or selling a security. Degiro offer stock trading with the lowest fees of any stockbroker online. These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm. To change or withdraw your consent, click the "EU Privacy" link at the bottom of every page or click here. Skip to main content. But it could be worse. On a net basis, you get to record your loss. The only way to define your status is to go by the guidelines laid out in several court cases that have addressed the question. After that, you can carry over the loss to future tax years until it is exhausted. Although your investment has increased in value, you will not realize any gains, or owe any tax, unless you sell it. You're taking a step towards owning your financial future. Since taxpayers only have to report stock transactions when they sell, many people neglect to keep proper records -- especially if they intend to hold on to a stock for many years in a retirement account, they may toss account statements into a drawer where they will be very hard to locate 10 years later. As no underlying asset is actually owned, these derivatives escape Capital Gains Tax and HMRC view income derived from this speculation as tax-free. How Capital Gains Tax Works. They may be used interchangeably, but your obligations will vary drastically depending on which category you fall under. After all, the IRS wants not only to know your profit or loss from each sale, but a description of the security, purchase date, cost, sales proceeds and sale date.

Taxes on dividends

Taxes on losses arise when you lose out from buying or selling a security. Under the wash-sale rule, you cannot deduct a loss if you have both a gain and a loss in the same security within a day period. Bea reports the loss as of December, and it saves her taxes by reducing her total taxable profit for the year. If you manage to find great companies and hold their stock for the long term, you will pay the lowest rate of capital gains tax. In the UK for example, this form of speculation is tax-free. These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm. Your tax liability would consequently decline. Explore financial planning with Facet Wealth. It's easy to get caught up in choosing investments and forget about the tax consequences—most particularly, capital gains tax. Forgot Password. Waiting a few days or weeks in order to qualify for long-term capital gains treatment might be a wise move as long as the price of the investment is holding relatively steady. Tax Guy Want to be a day trader? Skip to main content. Learn about Ordinary Loss An ordinary loss is a loss realized from normal business operations, from non-capital transactions or from sales of non-capital assets. Most employees do this easily, but if you have taken time off work or have a long history of work as an independent investor, you may not have paid enough in. One such tax example can be found in the U. The Bottom Line. Carrying a loss forward means using the loss from one year to offset your gains in future years. Learn to Be a Better Investor. Getting Help.

Retirement Planner. We want to hear from you and encourage a lively discussion among our users. Partner Links. Please help us keep our site clean and safe by following our posting guidelinesand avoid disclosing personal or sensitive information such as bank account or phone numbers. Also excluded from capital gains treatment are certain items noncapital assets you created or have had produced for you:. You can minimize or avoid capital gains taxes by investing for the long term, using tax-advantaged retirement plans, and offsetting capital gains with capital losses. Finding the right financial advisor that fits your needs doesn't have to be hard. Maybe not. Your years of independent trading show up as years with zero earned income, and that might hurt your ultimate benefit. As no underlying asset is actually owned, these derivatives escape Capital Day trading options course how do you invest in stocks and bonds Tax and HMRC view income derived from this speculation as tax-free. The trade date is the day a trade executes. It acts as an initial figure from binary options market canada binary options brokers list 2020 gains and losses are determined. This is simply when you earn a profit from buying or selling a security. Taxes in trading remain a complex minefield. Home-office deduction? The takeaway is that, for accounting purposes as well as a variety of practical reasons, traders should maintain separate accounts for day trading and building a long-term investment portfolio. Photo Credits. Tax Strategy.

Here's how capital gains taxes work and how you can minimize them

Paying taxes may seem like a nightmare at the time, but failing to do so accurately can land you in very expensive hot water. The choice of the advanced trader, Binary. Tax Refunds. As the saying goes, the only two things you can be sure of in life, are death and taxes. You then begin the new year with no unrealized gains or losses, as if you had just bought back all the shares you pretended to sell. If you qualify as a trader, the IRS has a deal for you. Article Sources. Purchase Date. Under the wash-sale rule, you cannot deduct a loss if you have both a gain and a loss in the same security within a day period. Obviously, in an ideal situation, all of your investments would appreciate, but losses do happen, and this is one way to get some benefit from them.

To do this head over to your tax systems online guidelines. Even if you only had a single stock trade during the year, you should still report the loss on your income statement so you can carry this loss forward. Explore financial planning with Facet Wealth. This is simply when you earn a profit from buying or selling a security. The Solicitor that is directing you to this webpage will receive compensation from Facet Wealth if you enter into an advisory relationship or into a paying subscription for advisory services. Your Money. Why Zacks? Ayondo offer trading across a huge range of markets and assets. More on Taxes. However, if you trade bitcoin pair trading can i trade crypto minute to minute hours or more day trading opening times challenges in forex trading of a week, about the duration of a part-time job, and average more than four or five intraday trades per day for the better part of the tax year, you might qualify for Trader Tax Status TTS designation in the eyes of the IRS. Take the ablesys trading software how to buy call or put option in thinkorswim step Powered by. Unlike in other systems, they are exempt from any form of capital gains tax. Every tax system has different laws and loopholes to jump. About the Author. This is usually considered a short-term zulutrade signal provider earnings best mobile crypto trading apps for kraken gain and taxed at the same rate as normal income. Several free ones are available online. This guide should get you started on assessing what your taxation situation looks like now, and what it might look like in the future. They may be used interchangeably, but your obligations will vary drastically depending on which category you fall. What is Capital Gains Tax?

Your tax liability would consequently decline. Taxes on losses arise when you lose out from buying or selling a security. The following chart shows the breakpoints for based on your filing status and taxable income:. Explore financial planning with Facet Wealth. Follow the on-screen instructions and answer the questions carefully. The tax consequences for less forthcoming day traders can range from significant fines to even jail time. Investors can offset some of their capital gains with some of their capital losses to reduce their tax burden. Popular award winning, UK regulated broker. This is simply when you earn a profit from buying or selling a security. Libertex - Trade Online. Make a note of, the security, the purchase date, cost, sales proceeds and sale date. In addition to regular capital gains tax, some taxpayers are subject to the net investment income tax.