Selling and Taxes Question

[kkmauch]

If we sell our OKW points (because we want AKV now and don't need as many), how will that impact us with next year's taxes? What percent of the total profit should I save out to cover the taxes come next April?

Example: 300 points at $60=18,000
After closing costs (what's a good estimate on the seller's portion of closing costs anyway?) What should I be saving for taxes in April next year?

 

[jekjones1558]

There are tax experts on these boards who hopefully will post. But unless you bought OKW for less than $60/pt then you should not owe taxes if you sell for $60/pt. That is from a non-expert in taxes.

 

[A_Princess'_Daddy]

If we sell our OKW points (because we want AKV now and don't need as many), how will that impact us with next year's taxes? What percent of the total profit should I save out to cover the taxes come next April?

Example: 300 points at $60=18,000
After closing costs (what's a good estimate on the seller's portion of closing costs anyway?) What should I be saving for taxes in April next year?

You'll only owe capital gains taxes on any profits (assuming you owned them for longer than a year), and that would be after deducting your closing costs. In a non-technical summation, you'll almost certainly owe nothing in taxes.