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Steel Penny

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Steel Penny

Re: BJohnson11 post# 65767

Wednesday, 02/26/2014 2:03:37 AM

Wednesday, February 26, 2014 2:03:37 AM

Post# of 263701

So if someone made $1 million profit from a stock, they would have to pay $200k in taxes?



That's only if it were long term (over a year) capital gain. If short term CG it could be 39.6% plus a surcharge for over a 1MM. And that's not even considering state tax or possible city tax. Got to make you feel warm and fuzzy all over. Or is that a rash?
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