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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: posthumousone who wrote (771)3/17/1998 3:25:00 PM
From: RealMuLan  Respond to of 5810
 
From 1998, long term Cap gain for stocks has to be held 18 months+. If you are good at short term trading, you will be better off not to pay attention to that in this kind of volatile market.



To: posthumousone who wrote (771)3/17/1998 4:03:00 PM
From: Spots  Respond to of 5810
 
For stocks sold after (about) May, there are three classes: over 18 mos, 1yr-18mos, and under 1yr. I suppose these are called long,
intermediate, and short. Long is taxed at max 20% (10 if you're
inthe 15% bracket), intermediate max 28%, short same as ordinary
income.

Disclaimer. I'm an individual who does his own taxes. I have NO
other credentials (well, I did survive an audit with no additional
taxes). DO NOT take what I say at face value; ALWAYS verify it independently.


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