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I took 10000 dollars out of my stock portifilo can I use income averaging when doing my tases?
If you mean by stock portfolio, a pre tax fund such as a 401K then yes you'll owe taxes on the money removed
If you mean a plain stock portfolio that was funded with money already taxed such as your personal money, then it may not be taxable.
You may owe capital gains tax if you sold stock for more than what you paid for it
You may have a capital gains loss if you received less for the stock you sold than you paid for it.
If you receive dividends on the stock that you own, it does not matter if you remove the money from the portfolio or not, you must pay tax on the dividends earned in the year you earned it.
Income averaging is no longer an option. It was removed as an option by the 1986 Tax Reform act.
What else can I help you with?
You took 10000 from an IRA Can you use income averaging?
No. Income averaging was removed from the Tax Code in 1986, except for farmers.
Average yearly income in Russia?
About 10000 rubles, or about 326 us dollars.
If you make 10000 dollars a year do you have to file income taxes?
Yes and you could have a federal income tax liability when you complete your income tax return correctly.
Is a gift of exactly 10000 dollars taxable income?
only if you want it to be Famous Answerer !3 year old Female
2 million dollars.?
10000+10000=2 million dollars
What is 70 percent of 10000 dollars?
10000*70/100 = 7000 dollars.
What is 16 percent of TEN-THOUSAND DOLLARS?
16% of 10000 = 10000*16/100 = 1600 dollars
What is the value of 10000 dollars in 1776?
100,000 dollars
How much is 10000 crowns in dollars?
about 500 dollars
How much is 10000 in us dollars worth in pounds?
$10000 is £8240.80
What is 10000 pounds converted to dollars?
£10000 is $12135
How many dollars is 10000 colones worth?
about 20 dollars
