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Re: The Rainmaker post# 24171

Friday, 09/11/2009 10:20:56 AM

Friday, September 11, 2009 10:20:56 AM

Post# of 53784
I think buying the undervalued stocks is the way to go. I'm still fairly new at this and I found some good stocks and sold too soon because I was trying my hand at being a trader. All things rise and fall with time and if you pick a good one, it's destined to rise. I'm just curious as to see how it will effect my taxes. If you sell to soon for the short term it's 30% off your gains that the gov't gets. Am I right on this.. and it goes down to around 15% if you hold for a year?? I'm in school now and only work part-time so I have a minimal income and expect to get the earned income credit as I have in the past since I'm a single mother. Anyone know off hand how selling in the long term if I make say 3-4 thousand dollars will effect my taxes?
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