Help! - Stock Options and Tax implications

B

bandsman04

Guest
Hi,

Im a newbie to stock options and I really need help in this area as I have no idea what the tax implications are on sale of same (first time doing it ever)

I have just performed a same day buy-and-sell on my stock options that I had for a while in a US company. I grossed $1300 (of which 200 was taken in commission *spit*)

These are the only stock options I will be selling this year.

1) How do I calculate the tax I have to pay?
2) How do I pay it?

My other half is about to do the same on a larger scale. Will her tax be calculated in the same way

Thanks
 
There are several threads on this issue already which you should be able to find using the search facility. This one in particular might be of use to you.
 
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