Home
Articles
Photos
Interviews
Forums
New posts
Search forums
Georgia Tech Recruiting
Dashboard
What's new
New posts
New profile posts
Latest activity
Chat
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
General Topics
The Swarm Lounge
General Investing and Economics Discussion - No Politics
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="LibertyTurns" data-source="post: 721656" data-attributes="member: 789"><p>I’ll only address taxes as an investor not a day trader. There’s differences & I really would be completely out of my league discussing day trader tax nuances, strategies. If you have TTS with the IRS, I’d think you knew it.</p><p></p><p>Let’s say you purchased 1k shares of ERI On 4/22/20 @ $15/sh and sold on 5/8/20 for $21/sh. You held it less than a year so that’s short term gains & you racked up a $6k gain. Assuming you make $60k, you have a short term tax rate of 22%, so Uncle Sam will want his cut of $1320. </p><p></p><p>Your transaction clears and you buy 2k shares of NCLH on 5/15 at $11/sh for a total cost of $22k. At closing it’s now worth $22.43/sh. Your stocks are now worth $44,860. If you cashed out Monday at the same price you’d owe Uncle Sam another 22% of the $22,860 of short term gain or another $5030 bring your total tab to $6350.</p><p></p><p>If you do not sell you do not realize the gain, so you owe no additional taxes. </p><p></p><p>If you held your NCLH for a year & let’s say the price is $45/sh on 5/15/21, you’d likely be in the 15% long term capital gains bracket. You’d owe 15% of the $24k you realized or $3600 instead of the $5030 you’d owe if you sold if you held it under a year.</p><p></p><p>If your holding distributes dividends, again it depends how long you’ve held it. Greater than 1 year you get punished 15%. Less than 1 year and it falls into your personal tax rate.</p><p></p><p>Hope this helps. Reason I mentioned putting tax money off to the side is twofold. I have to pay estimated taxes so I pay quarterly. The government punishes me for having too much non-tax withheld income. You may find yourself it that case next year. Secondly, in early 2021 you’re going to need to pay the piper. If stocks have gone down at end of year & now you’re sitting on losers, you want to dump them in December to reduce your tax bill.</p><p></p><p>It’s all about maximizing your returns and minimizing the amount of money you flush down the toilet to the greedy, wasteful, corrupt government bastards whose hand you can never seem to get out of your pocket.</p></blockquote><p></p>
[QUOTE="LibertyTurns, post: 721656, member: 789"] I’ll only address taxes as an investor not a day trader. There’s differences & I really would be completely out of my league discussing day trader tax nuances, strategies. If you have TTS with the IRS, I’d think you knew it. Let’s say you purchased 1k shares of ERI On 4/22/20 @ $15/sh and sold on 5/8/20 for $21/sh. You held it less than a year so that’s short term gains & you racked up a $6k gain. Assuming you make $60k, you have a short term tax rate of 22%, so Uncle Sam will want his cut of $1320. Your transaction clears and you buy 2k shares of NCLH on 5/15 at $11/sh for a total cost of $22k. At closing it’s now worth $22.43/sh. Your stocks are now worth $44,860. If you cashed out Monday at the same price you’d owe Uncle Sam another 22% of the $22,860 of short term gain or another $5030 bring your total tab to $6350. If you do not sell you do not realize the gain, so you owe no additional taxes. If you held your NCLH for a year & let’s say the price is $45/sh on 5/15/21, you’d likely be in the 15% long term capital gains bracket. You’d owe 15% of the $24k you realized or $3600 instead of the $5030 you’d owe if you sold if you held it under a year. If your holding distributes dividends, again it depends how long you’ve held it. Greater than 1 year you get punished 15%. Less than 1 year and it falls into your personal tax rate. Hope this helps. Reason I mentioned putting tax money off to the side is twofold. I have to pay estimated taxes so I pay quarterly. The government punishes me for having too much non-tax withheld income. You may find yourself it that case next year. Secondly, in early 2021 you’re going to need to pay the piper. If stocks have gone down at end of year & now you’re sitting on losers, you want to dump them in December to reduce your tax bill. It’s all about maximizing your returns and minimizing the amount of money you flush down the toilet to the greedy, wasteful, corrupt government bastards whose hand you can never seem to get out of your pocket. [/QUOTE]
Insert quotes…
Verification
Who made "The Leap" to defeat u(sic)GA in COFH 2016?
Post reply
Home
Forums
General Topics
The Swarm Lounge
General Investing and Economics Discussion - No Politics
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top