Question
A client comes to you with a question about their current assets and possible tax consequences. They currently have 1000 shares of stock valued at
A client comes to you with a question about their current assets and possible tax consequences. They currently have 1000 shares of stock valued at $70.11/share. They purchased the stock 10 months ago when it was selling for 63.56. They have received $5.67/per share in qualified dividends over the last ten months. They are currently considering selling the stock today, and would like to know how much less they would pay in taxes if they held on to the stock for about 3 more months (assume similar sale value). If they are in the 24% Marginal Tax Bracket, calculate the additional dollar amount they would owe in taxes if they sell the shares today as opposed to 3 months from now.
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