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How do I figure out taxes associated with stock purchased in 2010 for $1000 held for 5 mths. Then sold for $1200 I am in the 28% tax bracket? (I must use the IRS regulations for capital gains in effect in 2010.) I really want to understand how to work this problem out from start to finish. It is a short term gain of 200 dollars. Tax is .28*200

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Accounting Basics, Accounting

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