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Wednesday, September 21, 2016 4:28:54 PM
I am an ole broker and have always reminded my clients that if they have an income of $20,000 and plan to pay the applicable tax at EOY---that all short term gains from security sales are ADDED to your income---so, if there is $18,000 short term net profits, you now have a $38,000.00 taxable income and are in the appropriate bracket-
So, be careful---I had an opportunity to establish $70k short term and declined to ride the converts out as the pps declined---it will rebound ---and for those type profits you need to be using long term capital gain taxes--
GLTY--
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