I would like to start investing but i am unsure of the taxes, for example if i open an account with scottrade to buy stocks how would i know the taxes owed on the profits i make from those investments?
If you hold a stock, for example, more than a year, you'll pay a maximum of 15% capital gains tax. Or less if you're in one of the lower tax brackets.
If you sell in less than a year, you'll owe more tax because it's a short-term capital gain.
