when a person sells a stock for a profit, he ...
when a person sells a stock for a profit, he needs to know that the capital gain has to be reported to the internal revenue service (irs) as income. the capital gain is deducted from his assets. one half of the profit is given to the stockbroker. the profit must be reinvested in the stock market.
Answer
# Brief Explanations:
In the US, capital gains from selling stocks are taxable income and must be reported to the IRS. Capital gains are not deducted from assets, there is no requirement to give half - profit to a stockbroker or reinvest the profit in the stock market.
# Answer:
the capital gain has to be reported to the Internal Revenue Service (IRS) as income.