All things STOCKS

#7,476
#7,476
Go aeiou said:
Most brokerages will provide a summary sheet, and those amounts can be used to file taxes. i.e. short term gains/losses, etc. I haven't listed individual trades in a few years.
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Yea that makes sense. Does it make a difference based on volume of trades. Also, what's the situation with wash sales?
 
#7,477
#7,477
GoDucks349 said:
I couldn't agree more. Where I was headed is just how complicated are the tax filings given a large volume of trades, margin buying and option trading. I suspect you've been at this more than a year, so as they say, "it's not your first rodeo".
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You can simply put summary numbers on Sch D with "see attachment" and attach your pdf 1099 info to the return. As for wash sales, you should avoid them.
 
#7,479
#7,479
DancingOutlaw said:
You can simply put summary numbers on Sch D with "see attachment" and attach your pdf 1099 info to the return. As for wash sales, you should avoid them.
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Yea I'm aware of this, I'm just wondering how many of our new found "day traders" have been doing wash sales without understanding them. I'm a long only kind of investor, value contrarian by nature, so the questions are really just curiosities.
 
#7,480
#7,480
Boy did I whiff today....had 20 contracts of NVDA worth over $12,000 that I sold for a $2,000 gain....couple hours later it’s doubled 🥴
 
#7,483
#7,483
bignewt said:
I sold AITX because it finally got back to where I bought it, then proceeded to keep on rising...
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I feel your pain. I make a lot of similar blunders and miss out on the run up. Makes the stocks that you score on more appreciating. I did enjoy a good laugh though 😄
 
#7,484
#7,484
DixieVol said:
I feel your pain. I make a lot of similar blunders and miss out on the run up. Makes the stocks that you score on more appreciating. I did enjoy a good laugh though 😄
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It’s because we all have PTSD from getting burned by offerings lol
 
#7,485
#7,485
I’ve missed three 100%ers in the past couple of weeks because my entry is a little high, I sell as it comes back to even hoping to re-buy lower, and then it proceeds to 🚀
 
#7,486
#7,486
VolAllen said:
Boy did I whiff today....had 20 contracts of NVDA worth over $12,000 that I sold for a $2,000 gain....couple hours later it’s doubled 🥴
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Well, if it makes you feel better, I commented yesterday that I was wheeling NNOX without really wanting to. So yesterday it went up 20% and I’m going to give about 15 of that to whoever I sold a call to.

P.S. Hey, I got in my account this morning and I'm showing an over $500 loss on the NNOX $50 put (which is impossible). Somebody went through and offered a $4.70 put at every strike that would be expiring worthless today. Evidently somebody bought one. I've heard of this, particularly at open, but I've never seen it quite this large.
 
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#7,490
#7,490
Just curious...

Do most of you all do your individual stock trading in taxable accounts, 401ks, or IRAs (Traditional/Roth)?
 
#7,491
#7,491
BigOrangeMojo said:
Just curious...

Do most of you all do your individual stock trading in taxable accounts, 401ks, or IRAs (Traditional/Roth)?
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It makes more sense to keep the dividend paying stocks in the retirement accounts (especially Roths) and trade in a taxable account. You don’t get to write off losses in IRAs or 401(k)s.
 
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#7,492
#7,492
Thunder Good-Oil said:
It makes more sense to keep the dividend paying stocks in the retirement accounts (especially Roths) and trade in a taxable account. You don’t get to write off losses in IRAs or 401(k)s.
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The other side is you don't have to pay taxes on gains in a Roth. (I do agree, I wouldn't day trade in a Roth or do extremely speculative trades for the reason that you mentioned but if you have the intention of at least holding something for a moderate period of time, I'm willing to take that risk in a Roth). Good point about the higher yield dividend stocks in the Roth though.

Personally speaking - I have individual equities in joint taxable account (me and spouse) and my Roth IRA. Spouse's IRA, 401k, HSA, and my 401k are all mutual funds.
 
#7,493
#7,493
There are some rules in the Roth that limit what you can do with options. FWIW. I can't buy anything tradeable at all in my 401k (Fidelity through Eastman). I mostly do play money in taxable. My Roth is usually 50/50 UPRO/TMF which does not play well in taxable. Once in a while I'll get all inspired to day trade in my Roth but I don't normally do that.
 
#7,499
#7,499
I think I’m going to close out a few positions and average down heavily on CLOV. It seems to be starting its uptrend. There’s some great DD on Twitter about its business model and partnership with CVS and Walmart.
 
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