Hi
This is an excerpt from my Schwab Regular account. It's taxable and all dividends and capital gains have been reinvested from Edward Jones (pre-2010) to TDA (2010 I think) to Schwab. Nothing has been traded.
Each Mutual Fund shows Lot Details going back to 2010.
Yes, there is one fund with missing cost-basis that I am working on.
I want to know how much I will pay in capital gains taxes if I TRADE and/or SELL everything this year. Most likely, trade into a Money Market Fund.
I have no other income this year.
Is/should the Schwab data be accurate for the IRS for reporting next year?
Is calculating the Taxable Capital Gains only
Market Value - Cost Basis = $21,734.56 Taxable Capital Gains
Is there anything else I am missing?
This is below the $46,000 threshold for single filers, so there should be no Federal Taxes due. Only state taxes (Rhode Island, which I think is 3.75%).
Is my understanding correct?
Thank you and please be patient with explaining it to me. I am not very knowledgeable.
Andrew
$1,995.23 | -$52.43 | -2.56% | $1,374.68 | +$620.55 |
|---|
$2,452.94 | -$82.02 | -3.24% | $1,559.44 | +$893.50 |
$3,063.25 | -$126.86 | -3.98% | $1,932.38 | +$1,130.87 |
$2,786.32 | -$106.52 | -3.68% | $1,935.31 | +$851.01 |
$1,657.94 | -$27.99 | -1.66% | $1,306.15 | +$351.79 |
$3,877.90 | -$140.18 | -3.49% | $2,800.71 | +$1,077.19 |
$801.03 | -$21.67 | -2.63% | Incomplete | N/A |
$12,067.63 | -$411.18 | -3.3% | $10,334.50 | +$1,733.13 |
$15,610.41 | -$447.28 | -2.79% | $13,085.50 | +$2,524.91 |
$8,523.45 | -$366.72 | -4.13% | $6,252.17 | +$2,271.28 |
$52,609.30 | -$1,116.25 | -2.08% | $40,129.93 | +$12,479.37 |
$53,564.60 | -$642.00 | -1.18% | $55,763.64 | -$2,199.04 |
$159,010.00 | -$3,541.10 | -2.18% | $136,474.41 | $21,734.56 |
Market Value | | | Cost Basis | |
