What to do with $3mm in short term capital gains? (pay, taxes)

[cancerous]

Hi, what can one do with short term capital gains?

[Lowexpectations]

What are the security holdings that the cap gains are on?

[cancerous]

regular stock that you buy and sell in your brokerage account

[Lowexpectations]

Protective puts? I'm not sure if that impacts holding time for stcg/ltcg

[midwestlaxer]

did you buy your car yet and get the girl???

First...hire an accountant and an attorney to help you navigate the system.

Second...buy a house and move out of your parents basement.

Last...please be compliant with your medication.

Feel free to mix those three up in the order that makes most sense to you. Good Luck.

[Larry Siegel]

Make an appointment to talk to someone at a topnotch accounting firm. You are supposed to think about this before realizing the gains. While a "name" accounting firm will be expensive, if they can save you from having to pay ordinary income taxes on any part of $3M, they will be worth it.

[k81689]

Originally Posted by cancerous

Hi, what can one do with short term capital gains?

If live in CA, it is combine 40% cut from CA&Fed.
Half full glass of water or half empty glass of water?
Does it matter?
1.2Mil is better than 90% average Johns' doing.