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Home >> Stock Forums >> Taxes

Taxes

jasperg357 said: "What are you required to pay in taxes on any profit made in trading? Can you deduct commission fees?"

AlfredSokol said: "Gains are taxed as ordinary income. If you hold a year or longer, you pay Long Term Capital Gains of 15%."

thezster said: "[QUOTE=jasperg357]What are you required to pay in taxes on any profit made in trading? Can you deduct commission fees?[/QUOTE] Yes, you deduct commissions from your profits... as well as margin interest expenses - office expenses (if you do this full time) - etc. For the most part - You take all the risk... Uncle Sam takes 10 - 30% of the profit (yeah, I know - 38%is the max - but c'mon - who pays that?)"

jasperg357 said: "[QUOTE=AlfredSokol]Gains are taxed as ordinary income. If you hold a year or longer, you pay Long Term Capital Gains of 15%.[/QUOTE] ok Thx for the info."