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Question:

What's my tax bracket? I'm a short-term trader?

I have no job except short-term stock trading. How much profit do I have to make before I have to start paying regular income taxes and what would my tax bracket be?

Answer:

Your bracket depends upon your taxable income. Short term capital gains are taxed as ordinary income. The first $8,950 isn't taxed assuming that you're single, under 65 and not a dependent.
Dec 7, 2017
Your gains are all going on schedule D, and the net gain is regular income, which you look up in the tax table, as if you had income from a regular job. If you've held any of the stocks for long enough (see the form), the tax on those gains may be capped at a lower rate. I'm guessing that you've only been doing this short-term trading for a year or less? It might be good to get TurboTax (even a used one from 2007, which you can get for nearly free), to see how this stuff works. Or, if your gains are substantial, get a tax preparer or accountant to help you. I THINK (not sure) that due to the stimulus package, you pay no taxes on the first $6000 of your income (from all sources, and you can't be a dependent). That's also assuming that you haven't made a huge amount of money last year, which would also disqualify you for the stimulus package.
Dec 7, 2017
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Dec 7, 2017
Your tax bracket depends on how much that you make.
Dec 7, 2017

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