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

To: David Jones who wrote (2164)	4/22/1999 4:00:00 PM
From: OD Bobo	Read Replies (1) \| Respond to of 5810

As far as I know, you need to be holding for a year and a day. Check out this link - this site is very useful for tax/trading questions: fairmark.com

To: David Jones who wrote (2164)	4/23/1999 12:23:00 PM
From: Ginko	Read Replies (1) \| Respond to of 5810

GENERAL QUESTION - By IRS law - is one required to file quarterly estimated tax payments on short term gains in order to prevent penalty assessments? If so - is the formula as follows: Q1 ======= Short-Term Gains of $4000 4000 x .28 (tax bracket) = 1,120 (tax liability) 1,120 / 4 = 280 (Q1 Payment to IRS) Q2 ======= Short-Term Gains of $3000 3000 x .28 = 840 840 / 3 = 280 280 (Q1 Liability) + 280 (Q2 Liability) = 560 (Payment to IRS) And the process repeats itself. Thanks in advance for any feedback. Send any PM if you want.