Capital gains question

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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?
 
Short-term capital gains rates= Personal income tax rates.

State Rates '04: http://www.taxadmin.org/fta/rate/ind_inc.html

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


Quote from 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?
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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
 
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