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FAQ #36583

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I have quite a lot of money outside my 401(k) plan that is tied up in tech stocks. I would like to reduce my losses and get rid of some of them. If I sell some of these stocks, do I owe taxes if I sell for less than what I paid for them?

Related resource areas: Personal Finance

You need to calculate your tax basis in your tech stocks. This what you paid for the shares originally, plus any subsequent share purchases or dividend and capital gains distributions, if any. The difference between your tax basis and the selling price of your shares is your capital gain or loss. You pay taxes only on capital gains. You can use capital losses on your tech stocks to offset other investment gains.

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