Seeing a big gain in your brokerage account feels great, but don't forget about taxes! This template helps you isolate individual stock trades and automatically deducts estimated capital gains taxes so you know your true take-home profit.
Many trading platforms display your "Gross Profit" (profit before taxes and fees). If you withdraw your entire gross profit, you might find yourself short on cash when tax season arrives.
1. Click "Use This Template in App" to launch the tool.
2. The Base is set to "0" to act as a blank canvas.
3. On the first row, enter your gross profit (e.g., 1500) using the "+" operator.
4. On the second row, set it to Chain (🔗), use the "-" operator, turn on the percent (%) toggle, and enter your estimated tax rate (e.g., 20).
5. The result will instantly show your real net profit.
A: Not by default, but you can easily add a row! Just insert a new row above the tax calculation, set it to Chain (🔗), use the "-" operator, and enter your flat broker fee amount.
A: Simply enter your loss with a "-" operator instead of a "+". You can then use the sheet to calculate how a tax write-off might affect your overall portfolio.
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