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Name :	Komal Ahluwalia
Subject:	Capital Gain Taxes
Message :	I would like to know from anyone on how how short-term capital gain taxes are calculated? It is now at 10%; there is no long term capital gains tax anymore. Is the short-term capital gains tax (i.e.selling a security in less than one year) levied on gross sale of securities or only on the difference between the gain, i.e.(gross sale -purchase price).