Replies to post #343 on Taxes (TAX)

[ypsiCPA]

Your short-term capital gain is included in taxable income, so you're looking at $50,000 taxable income (less deductions and exemptions).

That translates to a 25% tax bracket if you're single, 15% if you're married.

Use the calculator at http://www.moneychimp.com/features/tax_brackets.htm to get a ballpark idea of your tax.

Roth IRA contribution is not deductible.