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Saturday, September 16, 2006 12:38:34 PM
I think it just depends on my situation in a few months and in a few years from now. I can retire from my current job in about six years or I could leave in a year if my financial situation were good enough.
I'm new to this and I don't even understand the tax situation. I hope I don't have to pay taxes on gains that I haven't sold yet, lol. It seems like I saw somewhere you have to pay 10% even on gains that you haven't sold but it's like 25% if you actually sell them before holding for a year?? Ugh.
Hopefully, it works where I don't pay taxes for until I actually sell and then it's only 10 or 15% for selling after holding for a year. I could do that, no problem.
Oh, and what if I felt confident enough to flip this at some point? If I sell for a profit but immediately reinvest at a lower price and am lucky enough for it to rise again... Do I get taxed while i'm still investing gains? I don't think I should be but hey, life ain't fair.
Lots to think about for everyone involved in this.
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