Mensa Mining Corp (EQBM)

[xgin]

Sarshee, sorry I don't have private message. My question for you is - have you ever done a Sch D for US taxes? To answer your question - you add & subtract all your gains & losses for the year it's the NET result that you you pay taxes on, but you need to do the back of Sch D to know where you're at as that's where it will break up short term & long term gains.

http://www.irs.gov/pub/irs-pdf/f1040sd.pdf

http://www.irs.gov/pub/irs-pdf/i1040sd.pdf

http://www.irs.gov/pub/irs-pdf/f1040.pdf

Bottom line is: if all you have are short term gains it's going to get entered on F1040 on line 13 (taken from Line 23 of Sch D)so it will end up being taxed as ordinary income and so what ever your tax bracket - that's what your gain will be taxed at. Sure won't be 40% though!!