taxes for short term gain |
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genjix
Member
Cash: $ 3.40
Posts: 15
Joined: 12 Jan 2011
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taxes for short term gain |
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Hi, can I avoid taxes on short term stock gains if I took those profits and put it straight into an IRA? i think short term capital gains from stocks is 28%
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Tue Jan 18, 2011 7:07 pm |
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oldguy
Senior Member
Cash: $ 751.85
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Joined: 21 May 2006
Location: arizona |
No - sorry.
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Tue Jan 18, 2011 10:56 pm |
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karinabartram
New Member
Cash: $ 1.40
Posts: 7
Joined: 09 May 2011
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Without providing the IRS a cost basis along with your income tax return, the government will assume the stock was purchased by you for $0 and consider it a short-term gain. The best way is to hold the shares for more than one year which makes it long term gain which doest attract income tax.
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Sat May 28, 2011 5:33 am |
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