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- - Tax question (http://archives2.twoplustwo.com/showthread.php?t=384726)

vindikation

11-24-2005 08:54 PM

Tax question

I just started trading this year so I've never filed taxes with short term stock gains. My question is:

If I lose $500 in trades and make $700 in trades, will I pay short term capital gains taxes on $700, $200 or some other amount?

Thanks

Sniper

11-24-2005 10:39 PM

Re: Tax question

You will pay taxes on the Net gain. ($200 in your example)

vindikation

11-24-2005 10:57 PM

Re: Tax question

thx

11-25-2005 03:46 AM

Re: Tax question

Regarding losses, you can deduct up to $3000 a year. If you have more than 3K, you can carryover the excess to future years.

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