Tax question when stock trading, cashing out? Visa IPO?
Jacalyn asks:
So I never traded in my life. Just graduated college with a decent income (46K) and was thinking about putting in a good amount of my savings into this VISA IPO. Now my questoin is, if I try to get fast cash like BUY AND SELL really quick and lets say it doubles. How much tax can I expect to pay?
So I never traded in my life. Just graduated college with a decent income (46K) and was thinking about putting in a good amount of my savings into this VISA IPO. Now my questoin is, if I try to get fast cash like BUY AND SELL really quick and lets say it doubles. How much tax can I expect to pay?
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It would be short term capital gains…taxed at the same ordinary income rates as wages. Currently you appear to be in the 25% tax bracket.
Of course I think you are being VERY optimistic that this will double. It could easily settle to 1/2 to 3/4 of your investment.