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taxes for short term gain

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Money Talk > Taxes

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genjix
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taxes for short term gain  Reply with quote  

Hi, can I avoid taxes on short term stock gains if I took those profits and put it straight into an IRA? i think short term capital gains from stocks is 28%
Post Tue Jan 18, 2011 7:07 pm
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oldguy
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No - sorry.
Post Tue Jan 18, 2011 10:56 pm
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karinabartram
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Without providing the IRS a cost basis along with your income tax return, the government will assume the stock was purchased by you for $0 and consider it a short-term gain. The best way is to hold the shares for more than one year which makes it long term gain which doest attract income tax.
Post Sat May 28, 2011 5:33 am
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