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Zachary Boy
08-25-2011, 09:35 AM
Warren Buffett just dropped 5 billion in Bank of America. Does he know something that I don't? Hmmm

"W"
08-25-2011, 09:41 AM
Yea...its at a good Low and good time to buy in.....I'm in at lower 6,s..made 4 different buy ins..

fishinpox
08-25-2011, 09:49 AM
I bought 10k in bank of America 2 weeks ago 6.90 I believe I'm holding on to it for 3-5 years as advised by my broker

"W"
08-25-2011, 10:33 AM
I bought 10k in bank of America 2 weeks ago 6.90 I believe I'm holding on to it for 3-5 years as advised by my broker



I should of sold mine today at 8:40:pissed::pissed::pissed:

It hits 9...its gone like Jordan after Gaftop

SULPHITE
08-25-2011, 10:34 AM
do you have to pay taxes on short term trading??

"W"
08-25-2011, 12:28 PM
do you have to pay taxes on short term trading??

Capital gains at the end of the year... I never take out any profit... I just place in an simple interest holding account(fund)

ckinchen
08-25-2011, 12:49 PM
do you have to pay taxes on short term trading??

Short term gains (less than one year holding period) are more or less taxed like ordinary income where as long term gains are taxed at a much lower rate.

cmdrost
08-25-2011, 01:12 PM
what he said ^

Long term gains are at a flat 15%, where as short term gains are at your income tax bracket. So if you're baller like W in 35% bracket, you're paying 35% on your short term gains. haha

SULPHITE
08-25-2011, 01:48 PM
what he said ^

Long term gains are at a flat 15%, where as short term gains are at your income tax bracket. So if you're baller like W in 35% bracket, you're paying 35% on your short term gains. haha

so in basically your estimated % gain may be a little construed??? :spineyes:

Gerald
08-27-2011, 01:08 AM
And any larger amount of gains, may require you to make quarterly payments to the IRS and State gov.