How much do I have to pay Uncle Sam out of the returns on my stock investments?
hisnames8k asked:
What percentage of my income will be taken as taxes if my full time job is pattern day trading? I know it depends on deductables, write offs, and all of those type of things, but I’m just looking for a “in the neighborhood” type figure. Thanks in advance!
What percentage of my income will be taken as taxes if my full time job is pattern day trading? I know it depends on deductables, write offs, and all of those type of things, but I’m just looking for a “in the neighborhood” type figure. Thanks in advance!
car d:
5 to 15%, So its a much better deal than working for someone else
April 30, 2009, 1:23 amBill Q:
Your returns will be short term capital gains, and you will pay full tax on them, at your marginal rate. If they were long term capital gains, you would pay 5-15%, put they are not long term capital gains.
April 30, 2009, 4:06 pmRyan S:
short term trading falls under taxable income… so like income the more you make the more you pay along the same marginal rates.
ignore the guy that said 5-15% … thats dead wrong unless you dont make a living at it.
only if you hold a stock over 1 year do you get taxes at 15% or less (income bracket if lower than 15%)
then as you said you get your deductions and stuff also….
here are 2007’s marginal rates.
cheers and good luck… tough market but plenty of volatility.
May 2, 2009, 6:12 am