3 ms·

Don't forget about taxes if it wasn't in a retirement account.

• weird-eye-issue 6y ago
  I think it's funny when people say this when there are still 11 months left in the year. Just because I made $300k on this doesn't mean I'll owe taxes on that
  • defen 6y ago
    Are you familiar with quarterly estimated taxes and the AMT rule?
    • weird-eye-issue 6y ago
      You only pay taxes on your yearly capital gains so I don't think it makes sense to pay estimated taxes. I could lose those gains. Not sure where AMT cones in
      • defen 6y ago
        > You only pay taxes on your yearly capital gains I am not a tax professional but I would recommend at least talking to a tax professional about that. Taxes are generally due upon realization of income/capital gains; the quarterly thing is simply because it would be too onerous to have to report literally every single gain/loss as they happened. But I'm not going to sit here and argue with you :)
        • weird-eye-issue 6y ago
          You do have to report every transaction to the IRS and you only pay your taxes based on your year-end gains