Replies to post #41139 on Xechem International Inc. (fka XKEM)

[nofortunateson2]

smartmoney77, I rely on a CPA to do my taxes. I give all my trade info to the CPA and they figure it out. As far as I know, if you trade in and out with a partial position you will still have to pay taxes on gains for the year that the transactions occurred in even if you hold a position long term. They would just be taxed at 2 diifferent rates. jmho

[thelimeyone]

Reinvesting it makes no difference its still a short term capitol gain, you got the profit what you did with it is immaterial. Also be aware of the "wash rule". i.e you sell a POS stock that you are losing on & claim the loss, but then you buy back in ha ha they got you on that too. if you reinvest within 30 days they ignore the sale. to avoid the wash rule after you sold at a loss you must let 30 days pass before reinvesting. good info is to be had at http://clearstation.etrade.com/education/tax.shtml. tlo.