Tax rate of selling stocks on Robinhood
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!
Long
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)
But Robinhood doesn’t have this option, that’s why I am not sure how Robinhood would do this
First in first out
This fifo
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.
That hate
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?
Robinhood is FIFO
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.