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Andyrose
Aug 28, 2005, 07:19 PM
"Short-term stock gains are taxed as ordinary income. Therefore, the nominal tax rate will be whatever tax bracket you are in. More explicitly, it will be taxed at the federal tax rate (bracket) as determined by your taxable (not gross) income line on your federal tax return." If all of my income is from short-term stock gains, is that income used to determine my federal tax bracket? Thank you.

AtlantaTaxExpert
Aug 30, 2005, 07:35 AM
Andyrose:

If ALL of your income is from short-term capital gains, then it will be taxed as normal income at your marginal tax rate.

You can access the tax rates for your tax status (married, single, head of household, etc.) from www.irs.gov.

Andyrose
Aug 30, 2005, 09:28 AM
Thank you.