Hi CPA, I am considering two different options for funding a purchase of a new boat. I have been steadily growing my stock portfolio, and I am thinking about selling 100 shares of stock t
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Get it written →Hi CPA,
I am considering two different options for funding a purchase of a new boat. I have been steadily growing my stock portfolio, and I am thinking about selling 100 shares of stock that I purchased 20 years ago for $5 per share. Right now, this stock is selling for $45 per share. On the other hand, I have a storage unit that I bought for $50,000 and have been renting out. If I sale it on the market I should be able to get at least $54,500. Can you tell me the tax implications of choosing one option over the other? Will one cost me more than the other in taxes? What other information do you need from me?
Thanks,
Client
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