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    kapidipak's Avatar
    kapidipak Posts: 1, Reputation: 1
    New Member
     
    #1

    May 21, 2009, 02:48 AM
    Tax calculation on Stock profits
    I have booked Profits in stocks within the tenure Oct'2008 - Feb'2009. Now my questions are
    1> Is it Short term capital gain Or Long Term and What is the parameter to determine that?
    2> How do I calculate the tax on that profit.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    May 21, 2009, 07:45 AM
    1) They are short-term gains, as the holding period was LESS than one year and one day.

    2) They are taxed as ordinary income. Just add the profit to your other income and look up the tax on the appropriate tax table.

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