Whats the capitol gain tax rate on 1960-1980 ibm stocks is it a flat rate?

Question

Whats the capitol gain tax rate on 1960-1980 ibm stocks is it a flat rate?

Answer 1

Are you saying that you purchased the IBM shares between 1960-1980?

If you have owned the stock for over 12 months the gain would be a long-term capital gain (15%).

The gain is the difference between the tax basis. Generally speaking, the tax basis will be the price you paid for the stock.

Example:

100 shares of IBM purchased @ $10/ share

(basis = 100 X $10 = $1,000)

100 shares of IBM purchased @ $15/ share

(basis = 100 X $15 = $1,500)

Current price: $20

Total shares: 200

Proceeds from sale = $4,000

Less Basis:                $2,500

Capital Gain = $1,500

This is just a basic case. A call to your advisor/ broker/ accountant can provide you details in your specific situation.