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Your cost basis for shares sold will be on a FIFO basis. The first shares you bought will be sold first. Of the 20 shares sold, the first ten have a cost basis of 45 and the second 10 have a cost basis of 25. All of the gains are short-term. You held nothing for more than one year.

STCG rate is 28%, and LTCG rate is 20%. There are exceptions for individuals whose income is all in the 15% bracket... Don't remember the exact provision.

For additional info, check the IRS website at http://www.irs.org.
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