Hit the Jackpot With NIO Stock? Don't Let Taxes Get You Down
While many investors were drooling over Tesla (NASDAQ: TSLA) shares in 2020, NIO (NYSE: NIO) was behind the scenes making tremendous gains that led to mega profits. Shares of the Chinese electric car maker surged over 1,000% this year, continuing its upward momentum as the most recent earnings report beat Wall Street's estimates.
If the urge to turn those unrealized gains into pocketable profits caused you to sell shares of NIO, you should start thinking about capital gains taxes now. It's best never to be surprised during tax time.
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Source Fool.com
