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Old 10-03-2008, 03:30 PM
 
Location: Denver
3,150 posts, read 7,385,486 times
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How is that figured? Do you tally up all of your short term gains for the year and get taxed on that? Or is it for each individual stock sale that caused a gain?
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Old 10-03-2008, 10:39 PM
 
Location: The Pacific NW.
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You simply add up your short term gains, subtract your short term losses, and you're taxed on your net profit.
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Old 10-03-2008, 11:05 PM
 
Location: Denver
3,150 posts, read 7,385,486 times
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Thanks!
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Old 10-04-2008, 07:55 AM
 
Location: West, Southwest, East & Northeast
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Less your Buy & Sell commission transaction costs.
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Old 10-04-2008, 12:43 PM
 
Location: The Pacific NW.
879 posts, read 1,789,570 times
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Right, most brokers, on the 1099-B, account for commissions on buys & sells, so you usually don't need to calculate this yourself.
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Old 10-05-2008, 11:12 PM
 
4,256 posts, read 8,013,612 times
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Quote:
Originally Posted by LongArm View Post
You simply add up your short term gains, subtract your short term losses, and you're taxed on your net profit.
I sent a rep point your way for providing some good answers on this forum. True veterans like yourself are always needed here.
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