Stocks purchased on or after 1/1/98 and are held equal to or less than 12 months are taxed at 39.6%, whereas stocks held over 12months (a year and a day) are taxed at 20%--approximately 1/2 the tax. Is this how STCG taxes work? I thought that short-term capital gains were taxed at your marginal rate (which, for many of us, will be below the top rate of 39.6%)...And isn't there a 10% capital gain rate for people in the 15% tax bracket?Thanks,JDOyster
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