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June 27, 2019
Question

sale of shares

  • June 27, 2019
  • 1 reply
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I am in between careers at the moment and need to sell some of my shares to cover living expenses.  I would like to know how much I should put aside to cover the taxation of the sale at the end of the year.  Any assistance would be much appreciated.

    1 reply

    VolvoGirl
    Employee
    June 27, 2019

    Are the shares in a personal account or in some retirement account like a IRA or 401K?

    aj971Author
    June 27, 2019

    They are in an employee stock purchase plan with E-Trade

    aj971Author
    June 27, 2019

    I have 2 purchases in 2017 of 7 and 6 shares respectively and will be holding onto the 2 purchases of shares I had in 2018 (of 6 and 6) to avoid early withdrawal penalties (I believe).  I have never sold shares before and am trying to be ahead of the game come tax time next year.