zzmocashzz Posted March 30, 2021 Report Share Posted March 30, 2021 https://www.forbes.com/sites/shaharziv/2021/03/26/robinhood-trader-may-face-800000-tax-bill/?sh=205315f267c7 Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted March 30, 2021 Report Share Posted March 30, 2021 40 minutes ago, joeybagadonuts said: ERB, be careful jumping into and out of the same stock within a 30 day period. Can fukkk you on taxes as some of your losses could be excluded from being deducted on the “wash sale “ rule. How bad is the tax bite on something like that? I was thinking of doing the same thing as ERB but with Draft Kings. I'm already holding shares purchased at $22. But, it's at $61 now and it's good for $70+ again. Quote Link to comment Share on other sites More sharing options...
zzmocashzz Posted March 30, 2021 Report Share Posted March 30, 2021 it explains a bit in article, with what i gather its something about trading same stock over and over again in 30 day period Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 31, 2021 Report Share Posted March 31, 2021 7 minutes ago, Jimmy Hoffa said: How bad is the tax bite on something like that? I was thinking of doing the same thing as ERB but with Draft Kings. I'm already holding shares purchased at $22. But, it's at $61 now and it's good for $70+ again. Basically from what I gather, if I sold some of my one PENN position at a loss before 30 days, it wouldn't count against my wins on PENN i've made on my last trade. Quote Link to comment Share on other sites More sharing options...
WVU Posted March 31, 2021 Author Report Share Posted March 31, 2021 I need a green day. So far so good Quote Link to comment Share on other sites More sharing options...
mikeman Posted March 31, 2021 Report Share Posted March 31, 2021 14 hours ago, ERBtheGREAT said: Basically from what I gather, if I sold some of my one PENN position at a loss before 30 days, it wouldn't count against my wins on PENN i've made on my last trade. I like the terminology some of you use...wins , almost like it's gambling and not investing huh? Quote Link to comment Share on other sites More sharing options...
WVU Posted March 31, 2021 Author Report Share Posted March 31, 2021 16 hours ago, zzmocashzz said: it explains a bit in article, with what i gather its something about trading same stock over and over again in 30 day period I have done this many times. It didn't affect my tax bill unless turbo tax did it wrong Quote Link to comment Share on other sites More sharing options...
zzmocashzz Posted March 31, 2021 Report Share Posted March 31, 2021 1 minute ago, WVU said: I have done this many times. It didn't affect my tax bill unless turbo tax did it wrong think we need the forum accountant to chime in Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted March 31, 2021 Report Share Posted March 31, 2021 2 hours ago, mikeman said: I like the terminology some of you use...wins , almost like it's gambling and not investing huh? Mix of gambling and investing I suppose...I think the company was undervalued at 99 and bet on it. Also seems to be strong support there Quote Link to comment Share on other sites More sharing options...
Deemer Posted March 31, 2021 Report Share Posted March 31, 2021 HOFV Big things coming Quote Link to comment Share on other sites More sharing options...
zzmocashzz Posted April 1, 2021 Report Share Posted April 1, 2021 lotta red on my portfolio, but markets overall are up Quote Link to comment Share on other sites More sharing options...
richsox24 Posted April 1, 2021 Report Share Posted April 1, 2021 1 hour ago, zzmocashzz said: lotta red on my portfolio, but markets overall are up I've had a bunch of those days lately as well. Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 1, 2021 Report Share Posted April 1, 2021 Nice close! Hopefully this New York talk goes well on the weekend and we should ? next week Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 2, 2021 Report Share Posted April 2, 2021 I’m thinking carnival might get a boost Monday Quote Link to comment Share on other sites More sharing options...
zzmocashzz Posted April 5, 2021 Report Share Posted April 5, 2021 a whole hell of a lot a green today Quote Link to comment Share on other sites More sharing options...
Brock Landers Posted April 5, 2021 Report Share Posted April 5, 2021 LRCX new price target of $800 Quote Link to comment Share on other sites More sharing options...
IAG Posted April 5, 2021 Report Share Posted April 5, 2021 44 minutes ago, zzmocashzz said: a whole hell of a lot a green today Crypto too. . Tremendous! Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted April 5, 2021 Report Share Posted April 5, 2021 On 3/31/2021 at 11:36 AM, zzmocashzz said: think we need the forum accountant to chime in the wash sale rule is something to be aware of buy penn for $140k sell 3 months later for $110k rebuy the next day for $100k in that case you have a $30k loss... but you can't claim it until you sell the stuff that you rebought for $100k... on that batch your new cost basis is $130k Quote Link to comment Share on other sites More sharing options...
Screw Andrews Posted April 5, 2021 Report Share Posted April 5, 2021 Short another 100 TSLA @ $700.....let's see if the ATM gives again.... Quote Link to comment Share on other sites More sharing options...
WVU Posted April 5, 2021 Author Report Share Posted April 5, 2021 On 4/2/2021 at 1:03 PM, ERBtheGREAT said: I’m thinking carnival might get a boost Monday yup Quote Link to comment Share on other sites More sharing options...
Brock Landers Posted April 5, 2021 Report Share Posted April 5, 2021 WVU How about LRCX?! Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 5, 2021 Report Share Posted April 5, 2021 Why do I feel like Cuomo is going to fuck this all up? Lol Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 6, 2021 Report Share Posted April 6, 2021 They scared me out, wish I took the money this morning but scored 11.1k profit... will rebuy if if hits 99 Quote Link to comment Share on other sites More sharing options...
richsox24 Posted April 6, 2021 Report Share Posted April 6, 2021 I sold a little lower than u Erb. Any reason for the big sudden drop? Looks like the the stick dropped $6 in about 15 min. Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted April 6, 2021 Report Share Posted April 6, 2021 2 operator system in NY and high taxes Quote Link to comment Share on other sites More sharing options...
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