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Author: artest7 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: First Sale Date: 1/31/2007 9:06 PM
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I cashed in my first gains today a 40% profit. I have only owned it since Oct.2006 though.

1) Will I have to pay a higher tax on it since I have not owned it for more than a year?
2) If so, what will be the rate?
3) I have some losing stock that has a weak outlook. Can I sell it to offset the gains taxes?

Any suggestions are appreciated.

AE
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