Money

Tax rate of selling stocks on Robinhood

Microsoft serbiawolf
7d

Hi
If I bought 40 shares of X at 5/10/2016
Then buy 20 shares of X at 8/05/2018.
If today I plan to sell 10 shares of X, will my tax rate of the capital gain long term or short term capital gain tax rate?
Thanks!

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  • Microsoft / EngzWBi69
    If robinhood does it the same any other broker does, e.g., Fidelity, it should be the long term tax, unless specified otherwise. On Fidelity, there is a checkbox when you sell shares, saying “pick my shares manually”, and you can pick your newer shares to sell, and they will be taxed as short term gains (idk why you would normally do it, but you can)
    7d1
    • Microsoft serbiawolf
      OP
      But Robinhood doesn’t have this option, that’s why I am not sure how Robinhood would do this
      7d
  • TripAdvisor sjduudxjhx
    First in first out
    7d1
  • Intuit srcdst
    Long
    7d0
  • Square
    chirps

    Square

    PRE
    Facebook, Google
    chirps more
    You sell 10 shares from your original purchase group and you pay long term capital gains. You remain holding 30 shares from 5/10 purchase date and 20 from 8/5.
    7d0
  • Facebook public2
    Depends on which lot you choose to sell. However since robinhood is so jenky you may not get to choose like you would with a real broker.
    7d6
    • Tableau Zero Cool
      That hate
      7d
    • Facebook public2
      Not as much hate, mostly just confusion as to why anyone would subject themselves to such a terrible service. Rh is a slick ui on top of an apex account. I don't get why folks like it so much?
      7d
    • Microsoft serbiawolf
      OP
      I don’t like it, it’s just easy to trade and no fee charges
      7d
    • Facebook public2
      All apps are easy to trade and have no fees. Most brokers actually pay you to use them. I tried robinhood and the trade didnt execute.
      7d
    • Microsoft serbiawolf
      OP
      Really? It works for me though. What apps do you recommend instead?
      7d
    • Facebook public2
      Well if it works for you then carry on. Once you are ready for better service upgrade yourself to a discount broker like Schwab etrade wells etc
      7d
  • Google / Enggdjsg
    Robinhood is FIFO
    7d0

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