Do my taxes sound about right?

I live in California and made about 90k at my job. I made 13,000 in my taxable trading accounts this year. Additionally, I set my payroll to be at '3'. My Turbo Tax shows I owe $5400.

Does this figure sound roughly correct? This is the most I made trading in a single year and am wondering if I should see an accountant...

 

Absolutely..., positively - Yes

Specifically one that specializes in trading


http://www.greentradertax.com/


I've no affiliation other than being a client

RN

 

I don't want to deviate from the thread topic -- but that 13,000...percentage-wise, what return is that in your trading account?

 

$5400? that must be a typo and you meant to write $54000

there's no way you're paying a 5% tax rate in commiefornia

 

He said he owes that much - meaning in deficit of, not total.

 

21%

See my journal here:
http://www.elitetrader.com/et/index...io-and-performance.291094/page-5#post-4197126

 

Yes, I owe on top of what I already pay in income taxes. It seems about right unfortunately. I'm looking for another opinion before I go runoff to a CPA which I would rather not.

 

Depends on a lot of situations...are you married or single? How many dependents. Do you itemize your deductions or take the standard? What products are you trading? Seems a bit high to me but I just don't know the situation.