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#1
10-30-2007, 04:47 PM
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short term capital gains tax
sorry if this has already been discussed a hundred times, but i saw something about STCG tax being 35%...is this really true? is it automatically 35% or does it depend on other factors?. comments are appreciated.
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#2
10-30-2007, 04:49 PM
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Re: short term capital gains tax
There isn't really a short term capital gains tax (assuming US). There is a long term capital gains tax which applies to gains from investments held over 1 yr. If you sold some stock in less than a year for a $1000 gain I believe this counts as regular income, so your tax would just be whatever your regular income tax rate is, as high as 35% + state taxes.
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#3
10-30-2007, 06:38 PM
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Re: short term capital gains tax
Maxtower is correct. STCGs are simply treated as ordinary income, so they are taxed at your marginal tax rate. In terms of tax planning, if you have some capital loss investments that you've been meaning to sell, you could potentially offset some or all of your STCG by netting the gain with the loss.
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