IRS, Tax related strategies--Traders Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : IRS, Tax related strategies--Traders

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: CountofMoneyCristo who wrote (380)	6/28/1998 12:51:00 AM
From: WallStBum	Read Replies (1) of 1383

what is the top federal tax rate under which professional day-trading (thus classified as such)income can fall? Is it 39.6%, or less? It doesn't matter whether you elect trader status or not. The rate depends simply on the amount of time you hold a stock before selling. 1 year or less and it short-term cap gain, which is ordinary income, so yes 39.6. Greater than 1 year and it's 28%, greater than 18 months and it's 20%. Although Bill Archer did get an ammendment attached to this IRS overhaul bill which will bring the 18 months back to 12 months. hope that helps dax

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next