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Tennessee Stock Taxes

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Guest61835

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So I live in Tennessee and needing advice on how stocks and such work for taxes. I've looked it up and tried to figure out for myself what all this tax mombo jumbo means and I'm basically left with what I started on my understanding of stock taxes. Zero understanding. So......if you profit any money or lose money, what form do you use? How much is the tax? Does the time matter on how much that tax is for that certain stock?
I've googled the crap out of this and I get legal explanations but I still DO NOT understand how ANY of this works. Who do I go to for help? What accounting services would be best to resolve my issue? Anything at this point helps.
 

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MJ DeMarco

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Depends on holding period for the stock...

1 year+ = LT Capital Gains rate, which I think is currently at 20%
< 1 year = Your marginal rate.

Not a CPA, but that was the last I remember.
 

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