12-03-2022, 06:38 AM
Can someone explain to me is there a way to avoid getting tax on stocks
<!-- SC_OFF --><div class="md"><p>So for some context I’m 18 and I had a good change of money and took into to my bank (Wells Fargo) and let the investors there invest it. I made 7k and I want to just pull out because the rate they charging me is insane ( 1.25% ) but the thing is I don’t want to pay short term taxes on that. Is there anyway I can avoid this or am I going to be stuck paying the taxes ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Unusual_Elk_6868"> /u/Unusual_Elk_6868 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/zaurmg/can_someone_explain_to_me_is_there_a_way_to_avoid/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/zaurmg/can_someone_explain_to_me_is_there_a_way_to_avoid/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>So for some context I’m 18 and I had a good change of money and took into to my bank (Wells Fargo) and let the investors there invest it. I made 7k and I want to just pull out because the rate they charging me is insane ( 1.25% ) but the thing is I don’t want to pay short term taxes on that. Is there anyway I can avoid this or am I going to be stuck paying the taxes ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Unusual_Elk_6868"> /u/Unusual_Elk_6868 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/zaurmg/can_someone_explain_to_me_is_there_a_way_to_avoid/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/zaurmg/can_someone_explain_to_me_is_there_a_way_to_avoid/">[comments]</a></span>