It didn't. Dividend are income whether you reinvest them or not.
Just did my taxes....
- Thread starter VegasMichael
- Start date
It didn't. Dividend are income whether you reinvest them or not.
No kidding, you and everyone else lol, but are you? If no, you didn't lose half.
2019 $7k
2020 $10k
2021 $36k
2022 $7k
Income LoL - capital gains.
2020 $10k
2021 $36k
2022 $7k
Income LoL - capital gains.
Glass half full or empty I guess
I hear you Brad! I complain about insurance companies so much my wife asks me to shut up about it already lmao...
I can only imagine the shit they make hurricane victims go through. Bastards!
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I thought if you re-invested the dividends you wouldn't be taxed on them.
Nope, doesn't work that way.
Since White Straight Males are "The Enemy"...
Maybe we Should ALL...just send a "SCREW YOU" note to the IRS and not pay a DIME in "Taxes"...
Then let them figure out how they're gonna pay for ALL their $HIT!
Maybe we Should ALL...just send a "SCREW YOU" note to the IRS and not pay a DIME in "Taxes"...
Then let them figure out how they're gonna pay for ALL their $HIT!
Warren and Sanders continue to float the "wealth tax" idea where you pay a tax on unrealized gains each year - but if you have a loss in a year, well there is no rebate for the gains tax you paid the prior year. They have support of people like "the squad" and that ilk, but anyone with half a brain knows what a horrible idea it is. If it was implemented, every January the market would crater with the sell off to raise cash to pay the "wealth tax". But they have their followers who believe that "only the rich have stock". Wait, what did you do with the 401K, your IRA, where do you think that is invested. I've actually had some of those types tell me, "no I'm not invested in stock, I have everything in mutual funds" and don't understand that a mutual fund is simply a basket of stock that they purchased for their 401K or IRA.
You do get taxed. That is precisely my gripe.
The other thing that is very irritating is that now that I am "retired" I can't put new money into my retirement accounts. 403, 457, Roth. See the irony there?
I didn't have a problem with the capital gains tax of 15% I paid for the home sale it's the dividend tax that ticks me off.
I didn't have a problem with the capital gains tax of 15% I paid for the home sale it's the dividend tax that ticks me off.
make sure you took advantage of the primary home exemption to lower the amount of tax you owe on your home sale.
If you took the dividends in cash and put it in a savings account, you pay the income tax on it. If you took it and bought stock in a different company, you pay income tax on it.
Why do you think that it isn't income when you use the dividends to buy more stock in that company? Dividend reinvestment simply means you don't take the cash and tell them, "buy me some more stock in the company with this income"
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For the same reason that someone can sell an investment property and take the proceeds and do a like-kind exchange(1031) for another property of identical or higher value and not owe any tax.
I don't have a problem with a one-time dividend tax but when I reinvest in additional shares I don't like having to pay tax again on those reinvested shares when I go to sell.
Shouldn’t taxed re-investments be put in a Roth if you plan on keeping them at least 5 years?
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That's a good question.
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