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Wed 5 Mar, 2014 07:35 pm
If I sell stock for short and long term gain, is that included in the uninsured penalty of 1% of income?
@plmokn,
The 1% is calculated on your gross income. You can probably see this on your form 1040 easy enough, but think of it as the money you bring in minus any deductions you can take. Sale of stock counts as income and anything that you report on your taxes is used to calculate this number.
Hope that helps!
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