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stock-taxes
New Member

If you sell stocks and you make profit ,do you have to pay taxes immediately and file something to IRS or you wait to the end of the year?

 
2 Replies
VolvoGirl
Level 15

If you sell stocks and you make profit ,do you have to pay taxes immediately and file something to IRS or you wait to the end of the year?

You report the gain or loss on your tax return.  But if you have a large gain you should send in an estimated payment so you don't owe so much on your return and don't owe a penalty.  Estimated payments are like the withholding you have deducted from your paychecks.

You will get a 1099B by the end of February for 2017 sales.
SweetieJean
Level 15

If you sell stocks and you make profit ,do you have to pay taxes immediately and file something to IRS or you wait to the end of the year?

Remember state taxes as well.

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