• Imagine an individual trading account for 2018 fiscal year increased from ~$100K to ~$200K
  • Total amount of trading transactions were at >~$20M
  • Imagine for a married couple with another individual income of ~$200K, thus a total of ~$300K total household income

TurboTax seems to calculate ~$1.3M in tax debt for California only. Probably, it might be due to some errors/parameters/tax brackets. I'm also guessing this account would qualify for a pattern day-trader, which might have tax benefits.


What would be approximately the fair tax estimation for California and/or Federal for this scenario, maybe a rough range, if possible?

Thank you so much for your answers/views in advance.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.