Capital gains question

Discussion in 'Professional Trading' started by ITtrader, Mar 11, 2004.

  1. ITtrader


    Can anyone tell me the capital gains rate (%) for short-term equity trades? I was told that it would be somewhere near 50%. For some reason I thought that it was closer to 15%. Does capital gains stack on top of personal income taxes?
  2. TGregg


    Moving to proper forum.
  3. Short-term capital gains rates= Personal income tax rates.

    State Rates '04:

    Federal Tax Brackets—2003 Taxable Income
    Joint return Single taxpayer Rate
    $0–$14,000 $0–$7,000 10.0%
    14,000–56,800 7,000–28,400 15.0
    56,800–114,650 28,400–68,800 25.0
    114,650 –174,700 68,800–143,500 28.0
    174,700–311,950 143,500–311,950 33.0
    311,950 and up 311,950 and up 35.0

  4. sammy12


    Hey beachboy66,

    Are you trying to build up your Number of posts?

    I have seen you replying with two words BS in other threads also. Contribute, if you know something otherwise shut up