I need advice
"Money saved and money earned can be money spent on a better world."
[edit] Debt free life
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[edit] Capital Gains on Sale of Stock
Greetings-
I was given stock as a child through the uniform gifts to minors act. On 5/1/08, I sold 2720 shares of AME (Ametek) stock @ $48.50 to finance a downpayment on a home. Please review the following to let me know if I'm on track:
Prices courtesy http://finance.yahoo.com/q/hp?s=AME
Issue Date # of Shares daily closing share value 08/01/97 1320 21.88 02/27/04 1320 49.65 11/27/06 1320 48.05
Date of Sale # of Shares Sale price daily closing share value Delta Result 05/01/2008 1320 48.5 21.88 26.62 35138.4 05/01/2008 1320 48.5 49.65 -1.15 -1518 05/01/2008 80 48.5 48.05 0.45 36
totals 2720 33656.4
federal income tax bracket: 25% 0.25
Long term capital gains tax rate: 15% 0.15
CA personal income tax rate: 8% 0.08
capital gains total tax rate 0.23
total amount due 7740.972
