Replies to post #138150 on Iconic Brands Inc (ICNB)

[rcaselli]

Tax rate is same for short v. long. When it varies is ST vs LT.

Coming up on my year soon here.
And this party is just getting started.

[ctrumabll]

Short term versus long term capital gains are about the last thing you should be worrying about in this stock.

Selling at .02 and eating the short term gain probably looks good right about now, no?

[Whiplash_Investor]

Pretty simple really. I was in a similar stock that went belly up and lost a bundle. Can only deduct 3K per year and Offset gains. So, in effect, I've paid for many years in taxes by sticking to a budget investment of $1000. My smaller gains now are offset by larger losses. I pay no taxes, so don't need to worry about it (except state, but PA is only 3%.