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Topic	Dude on WSB paid off his entire student loan balance off with Gamestop stock
harley2280 01/26/21 1:02:20 PM #44:	berlyman101 posted... harley2280 posted... Same. I just hope they understand the tax side of it and put the amount they'll need for taxes aside. what's the highest short term capital gains rate? 30 percent? 40? absolute worst case for them they end up on an irs payment plan and maybe a fine. Short term is just treated like it's part of your normal income. So whatever brackets it out you through. 37% being the most. I'd actually say that's medium case scenario. Worst case is they don't file it correctly and the IRS catches it down the road, and then applies interest to it. Depending on his normal income though that extra amount might catch him off guard. Again that's just hypothetical. Chances are of he's gambling in the market like that he knows the tax considerations. --- Posted with GameRaven 3.6.0_B3 <cite>harley2280 posted [p:949941955] in Dude on WS... [t:79259879]...</cite> <quote>berlyman101 posted...</cite> <quote>harley2280 posted... </cite> <quote> Same. I just hope they understand the tax side of it and put the amount they'll need for taxes aside.</quote> what's the highest short term capital gains rate? 30 percent? 40? absolute worst case for them they end up on an irs payment plan and maybe a fine.</quote> Short term is just treated like it's part of your normal income. So whatever brackets it out you through. 37% being the most. I'd actually say that's medium case scenario. Worst case is they don't file it correctly and the IRS catches it down the road, and then applies interest to it. Depending on his normal income though that extra amount might catch him off guard. Again that's just hypothetical. Chances are of he's gambling in the market like that he knows the tax considerations. --- Posted with GameRaven 3.6.0_B3</quote> ... Copied to Clipboard!
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