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May 30, 2012
2:48 pm
Forum Posts: 43
Member Since:
May 20, 2011

Here you can write any review regarding BullOption

September 13, 2012
9:20 am
Awaiting Moderation

I'm gonna be blunt if you have to ask this question your in the wrong buseniss.A day trading' of stocks doesn't make you a Day Trader it only opens you up to more tax regulations.Since you are day trading' I assume that you know what a wash sell is and the tax effects. Oops, my bad your still asking about short term capital gains. I haven't even mentioned straddles and hedges yet and their possible tax effects. And, if you don't know these terms don't think that you can't create them without knowing what you are doing.Just a friendly bit of advice if your are day trading' you need to know the tax rules first. I am an Enrolled Agent and even with this expertise after you make a mistake the only thing I can do to help you would be try to abate penalties.I am sure that you have read the answer to your question already; but, in case you haven't if this is the only trade you would owe tax on $ 61. But, it could be more, less or the same if other trades are involved.Like I said you need to know the tax rules before you ever start to day trade'. Think about it you wouldn't sit down at a poker table without knowing the house rules would you? It is the same thing.

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