Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

Yep yep yep, I like that. I could see hitting 80 after the split sometime maybe. Maybe

 

I can't answer this question specifically, but want to add what I learned the hard way. There are 2 ways to get caught by this rule:

1. The most obvious, you sell some shares, and then buy back within 30 days. Maybe you were tempted when it started going up.

2. The one that surprised me, and got me, if you BOUGHT 30 days or less BEFORE the sale, that's also a wash sale.

Basically, any activity 30 days before or after, will get you with this rule!

 

Market is hot hot hot.

Never thought a car could be a good investment. Just sold my 2020 Tacoma for $35200 w 7900 miles. Bought it for 34000.

 

after tax?

 

Carvana?

 

I am tempted I won't lie. It's clear the Tacoma is a great truck but not a "forever" truck for me. I don't want to use this "nice" truck for bouncing around in the woods. And if I have a decent-ish trail rig, that can handle the roads around here in the snow A-okay. And then get like a prius or something day to day. Gah. I put my stuff into Carvanna the other day and the numbers are pretty damn good.


edit @Boyk1182 thanks for that heads up. So, to clarify I guess: You had say 100 shares, you bought some to average down, and then sold it in say 15 days? Or, say you started with none, bought 100 shares, and you said "If it drops to X dollars, I'm out!" and then March happened and you bailed 12 days later, with a loss of $50 - that $50 is no bueno, you can't write that off?

 

Either the market is hot or they’re running some sort of scheme. Taliban tacos?

 

purchase prices not including tax.

I am trading in for another vehicle so the tax cancels out in Ohio and I think most states.

 

Doesn't for trucks in RI. I can buy a prius, and the sale value would come into play. But if you buy a truck, you pay tax on the full sale price, regardless of your trade in.

 

Carvana is planning something...

 

The Wacky Iraqi Mobiles! If they start trying to buy Bongo trucks from people, something is definitely going on.

 

IDK...maybe you owe short term capital gains taxes...

 

I just import all transactions into TurboTax during tax season and it'll figure all that out for me.

 

So, am I understanding right, TD won't track wash sales only in an IRA? As in buy and sells within an IRA account, not looking across to other accounts? or am I understanding what you're saying wrong?

Didn't know it was the broker's responsibility, interesting! I thought it was an easy thing but it was ultimately the account owner's responsibility.

Should be easy enough we have someone doing our taxes for us this year most likely. I might try to take it on this year, I think with some semblence of tax prep software - maybe one tier up from free (wife is 1099), I could handle taxes. We'll see.


I'm not terribly worried, the constant buy/sell is isolated to my "monopoly" account, other accounts are basically always buy and hold, even through divebombs like March. Just more of a curiosity thing I guess.

Thanks everyone!

 

If you buy the Premier version, it will handle investment related taxes.

 

Expensive but 10% of what we're paying someone to do for us, so I'll probably grab it.

Do you buy the latest every year?

 

Yes, it's really easy to do, and since tax laws change every year, you have to buy the new version each year

 

Just watch out for the OTC Pink transaction cost...If you're paying $6 each way that's $6 to buy $100 and then $6 to sell out...You're at $12...you need to wipe the first 12% of gains on your $100....That's why I trade WAAAAAY more now in small lots with regular listed stock...and don't dabble so much in the pinks