How much should I set aside for taxes next year? I only bought these few weeks ago.
It will depend on your other income (if any), as actual (not paper) gains realized for investments held less than a year are taxed at the rate for all income. This might be in the 25% range for you... more or less.
You can try inputting your projected total income into an online tax estimator, and see what number pops out.
These gains will be taxed at your ordinary income level. So if your taxable income last year was in the 15% bracket, see if any added gains would put you into the 25% bracket, and then save 2500 of that for possible tax consequences. A lot can happen in a year, any future losses can offset gains, you'll have to read up on the full tax consequences of investing.
I never really made money in the market. I made 10K so far, and may sell any day.
How much should I set aside for taxes next year? I only bought these few weeks ago.
