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by mobileman on December 9th, 2008

mobileman

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Help answer this question below.

If i but a stock today such as GM for 5 dollars and then GM goes to 10 dollars the next day and i decide to sell,do i make 5 dollars less fees?

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Answers. 1 helpful answer below.

  • by wildthorn on December 13th, 2008

    wildthorn

    That's how it works but you will have to pay income tax on what you make. You have to hold a stock a year (I believe) before you get capital gains treatment.
    Unfortunately the case in point, GM, is
    going down. The people who made money on GM were the ones who sold it short.
    Speculation is never a good idea but in today's market it's an even worse idea.

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