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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 125003  
Subject: Re: STOCK TAX Date: 11/20/1999 4:02 PM
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<<I am a pure rookie at this, so here it goes...If I'm trading online, when do the tax considerations come into play, at the end of the year? Assuming I'm not in a IRA or pension plan. I feel like a fool for asking......>>

Yo!!! Rookie!!!

Welcome to the folder.

You'll get hit with taxes when you realize gains or losses. And you "realize" a gain or loss when you have a completed transaction. And you have a completed transaction when you make both a purchase AND a sale.

So you'll pay no taxes on "paper" profits. But Uncle Sammy will want his hand out when you buy and sell for a profit.

Since you are new to taxes and investing, check out the Taxes FAQ area. There are a number of issues discussed there...including this very one. And if you are really serious about taxes and investing, check out my new book. There is a BUNCH of information there that will help you through the tax and investment maze.

TMF Taxes
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