WASH
Washington Trust Bancorp Inc
Mentions (24Hr)
0.00% Today
Reddit Posts
Financial Services Stocks Moving Thursday: WRLD, LU, TREE, CIFR, CUBI, ALTI, WASH, LC
BUCKLE UP boys AND WASH YOUR BALLs, THE GAY BEAR IS BACK!!!
I have a WASH SALE Question for some tax experts here. (this is for future reference)
WASH SALE: If I if I have Stock for Microsoft that I own and currently to take profit and then buy it again
APES! Today... I got us the DELUXE WASH. Sit back and take it in. You deserve it. Now we know what's possible.
VIAC!! The WASH-SALE rule is no longer in effect!!! To the moon!!!
Mentions
You can buy and sell to your heart's content in your tax deferred accounts, with zero tax consequences EXCEPT FOR WASH SALES involving your taxable accounts. Were you to sell shares for a loss in a tax deferred account, and with 30 days before or after that sale for a loss you bought the same shares in your taxable account, the losses would be subtracted from your cost basis of the shares in your taxable account, resulting in higher tax cost when you sell them. Brokers do not flag was sales involving two accounts, but this would technically be a wash sale.
# WASH. https://preview.redd.it/knvpuac27whf1.jpeg?width=399&format=pjpg&auto=webp&s=64fe531c5815e83d933d16c6c3074fe010373973
Alrite so bers, you got your 9:30 WASH, you got RINSED between 10:3-12, you ready to SANITIZE off the red futes to restart the process for tomorrow? Bers? Wait? Is this a Wendy’s? Fuck back to washing dishes
**WASH YO BALLS** Little soap, rub it in **LET IT SIT** then scrub and rinse. Bonus points for trimming ball hair, **NO** trimmer - only SMALL SCISSOR
Update : WASH IT OFF. market ANGERY
* NATIONAL SECURITY AGENCY DIRECTOR HAUGH WAS FIRED: WASH. POST Risk assets just got riskier
https://preview.redd.it/hunq8jkpq5je1.jpeg?width=633&format=pjpg&auto=webp&s=356e54d8a2f7776d1c7d373bfad36b5e4b47dfa4 GET A CAR WASH SHEEPLE!
He was misheard. He actually said WASH as in wash your stinky asses.
From your hair..ensure you always take a good thorough shower with a WASH CLOTH
There is some difference of opinions on this, but even if it is a different strike it is a wash sale. Both of my brokers report it as a wash sale, [WASH SALES FOR TRADERS - TradeLog](https://tradelog.com/education/wash-sales-for-traders/#options)
Bro do you know anything about taxes? Wash sale rule etc? You might think your up $200k+ as of right now but wait til uncle same checks on you come tax time. WASH SALE RULE. Look it up 🤦♂️
This subreddit needs a lesson in when the wash sale rule applies. A wash sale only applies when buying THE SAME SECURITY (stock or options) in 30 days after selling it. EACH OPTION ON AN OPTION CHAIN IS A SEPARATE SECURITY. A wash sale only matters if you REBUY THE SAME SECURITY AND HOLD IT INTO THE NEXT FISCAL YEAR. If you close everything by the end of the year, A WASH SALE WILL NEVER APPLY TO YOU AND WONT FUCK UP YOUR TAXES
THATS NOT HOW THE WASH SALE RULE WORKS Fuck every idiot on here needs to go do 5 mins of learning.
**BREAKING NEWS** BLACKWELL CHIP MANUFACTURING PAUSED CAUSE OF E. COLI OUTBREAK. TSMC WORKERS FORGET TO WASH HANDS AFTER WIPING 
Wow an E.Coli Outbreak at Qualcomm too?? **GENERAL SERVICE ANNOUNCEMENT** **PLEASE WASH YOUR HANDS AFTER TAKING A NUMBER TWO BEFORE GRABBING ANY ONIONS OR MICROPROCESSORS PLEASE**
* Fill empty 1 liter bottle of water and use your hand to wipe and clean. * WASH YOUR DAMN HAND WITH SOAP
DO NOT. I REPEAT, DO NOT GET SUCKED BACK IN YET. EX ADVISOR.... THIS IS CLASSIC WASH OUT VOLATILITY.... jump in to chase, you will get rekt. Btc will see 38.5 at some point. Feds are not doing any emergency anything. Ww3 is upon us....and the large swings and just pulling in your capital. Dont.
so overall im profiting my issues right now is how to exit 2 august deep ITM SOLD options already on my wash sale list that WONT every recover for a profit (these were spreads where i made a LOT from the long portion but was rolling the covered call options sideways and adding more time..(creating a loss) NOT realizing i was creating a disaster with WASH sales will closing out the LOSING trades and NOT buying more of those same exact option help?
WASH SALE. can't claim the loss.
What's the other stonks that got to play a part last time? AMC, BB, NOK any others? I was only on the sidelides last time and made some money yesterday but no positions right now. Trying to guess best moment to jump back in (one way or the other). And one other thing. Didn't this hype lasted like weeks or even months last time? BE SAFE AND REMEMBER TO WASH YOUR HANDS.
I’m waiting here for SPY to WASH IT ALL AWAY
WASH draft room is so sad - buncha card tables and folding chairs 
Remember, this started as a discussion of trading the same stock and its options over and over. The best source for all this is Trade Log, software that does wash sale accounting. They say "Brokers are not required to calculate wash sales between stock and option trades, or between option and option trades, yet you, the taxpayer, are required to do so." It's explained in great detail here: [WASH SALES FOR TRADERS - TradeLog](https://tradelog.com/education/wash-sales-for-traders/)
#Pro tip if you have an uncut penis PULL THE SKIN BACK AND WASH WITH SOAP
Lol so many Creepto fanboys... NONE OF YOU ARE ADDRESSING WASH TRADING, SHIT COINS AND WEEKLY BILLIONS OF STABLECOINS
WASH your hands BEFORE you PEE! You’re touching your PP with DIRTY hands. 👍🏼👍🏼
Alright, so if you buy 1000 shares of AAPL at $170 and sell it for $160, you're effectively -$1000. Then you buy it right back for $160 and it goes to $170. You're effectively even, but have a "loss" of $1000. With wash sale rule, your broker will keep your cost basis for the 1000 shares that you bought back as $170 instead of $160, and disallow any "realized loss" If you sell at $170 now it is a "wash". So if nothing else changes by the end of the year, you have no loss to claim to the IRS. That's all they want. But if you sell those 1000 shares when it goes up to $180, it's not "technically" a gain of $20/share even though you bought it at $160, because the wash rule is applied and it's a $10/share gain. Either way you look at it, .your net gain is $10/share or $10000 no matter how you mentally evaluate it if. That's what will be reported to the IRS and what you'll pay taxes on. They just don't want you to claim the $10000 loss in one year and the $20000 gain in some other year. When I say "WASH SALES DON'T MATTER", it's because of what's stated above, along with the fact that you're not going to get a trading violation, you're not going to be fined or thrown in jail. It's just a line-item on your tax return that you don't really have much control over. Sure there are times when strategic "tax loss harvesting" comes into play, but that is another topic.
I've never had options on the same ticker with something else different about them (exp date, strike, contract type) be marked as a wash sale. They are inherently much different than stocks because of these aspects, so really wouldn't make sense to do so. With that being said, at least in my opinion, WASH SALES DON'T MATTER. The rule is just so you don't report a loss on your tax return when you turned around and re-bought the same thing and held it until a future tax year, which you wouldn't be doing. Whatever my broker reports to the IRS and me, I just report the same.
# MY GF SAID SHE DOESN’T WANT TO EXERCISE AFTER DINNER TODAY…BECAUSE TODAY IS NOT HER HAIR WASH DAY...I AM AFRAID SHE BECOMES A F_AT_TY ONE DAY ​ 
>**BREAKONG: Raw meat consumed by one of the infected cats in Poland has tested positive for H5N1 bird flu, according to researchers** >https://twitter.com/BNOFeed/status/1675984078741426176?t=1qVc2H0k5iCaqlHrCFzxcw&s=19 WASH YO HANDS
POWER HOO HO HO HOUR https://preview.redd.it/utic2o7rxl8b1.png?width=560&format=png&auto=webp&v=enabled&s=ab91d4c703642ae93cd13ec8d4a16a7d907b0b5b GOOD MORNING IN NIKKEI - IT\*S TIME TO GREEN\*WASH THE CHART. / V GANG
I can make some suggestions, but you'll have to take some gatekeeping along with those suggestions. I'll put the gatekeeping at the end. Forget about monthly. Almost nothing except REITS, bond and preferred stock funds pay monthly. 6% yield is going to be tough. That's putting you into REITS and MLP land, each of which has a bucket full of problems. One of the best dividend stocks to wheel is ABBV, but it only has 3.2% yield, because the share price is super high. And that's another thing about 6% yield. That could be from a company whose free cash flow would normally only merit 1% yield, but because the share price has tanked, the yield is artificially above 6%. KSS is an excellent example of this effect. The yield is 9.81%, but only because the stock has tanked from the 40s to the 20s. NWL another, with 8.92% yield but the stock has been in a downtrend for a solid year. A bunch of regional banks, like WASH, are also the same pattern. High yield, tanking stock. Despite all that, here are a few suggestions, but each has some kind of problem. Like the first one, MO, is a sin stock. Again, none of these pay monthly. MO, CMA, DVN, VZ, XRX, T How did I come up with these? I used a yield screener for stocks between 6% and 10% yield and then looked for ones that had options and, ideally, not a year-long bear downtrend in share price, but some are still struggling, like XRX. And now the gatekeeping sermon. 1. There's no reason to prefer dividends. You would be better off Wheeling quality stocks regardless of whether they pay a dividend or not. You can always sell appreciated shares to make up for a lack of dividends, and if you hold them for more than a year before selling, you get better tax treatment than dividends would. 1. MLPs incur many tax-time headaches, like K-1 filing. There was just a guy on here posting about how he is still waiting for the K-1s on his MLP shares, which means he routinely is unable to file has taxes by April 15. 1. REITS behave like bonds, so for as long as interest rates keep going up, REITS share price will go down. They also used to have nasty extra taxes, but that got fixed by the IRS recently. Plus there's a lot of bad commercial real estate debt and commercial real estate is kind of having a pre-catastrophe moment, with unprecedentedly high vacancies. So if you insist on going REITS, be very selective in what the REITS hold.
Yep that 818 puts right at the IRS audit level. They will probably go back for the last 15 years and check for fraud, so be on the look out for that 2am raid on your home. I think this is the first Post asking about the WASH SALE stuff that actually made money.
I doubt you make enough money to notice a difference between long-term gains and short-term gains on your annual income. As long as you understand how WASH SALES work, you can sell everything tomorrow, lock in your profits, it will go straight to income for the year. You can then decided to buy back as many shares as you want, if it goes down you can sell them at a loss and it will be deducted from gains as long as you don't sell at a loss and re-buy again like a moron. (again look up wash sales).
Just to help other people here. There is no wash sale going on. I trade as a full time job, I have a specialized accountant. You can buy and sell a stock/option as many times as you want in whatever time period you want- if at the end of the trade you realize a loss, you have no wash sales. WASH SALES ONLY APPLY WHEN YOU HAVE GAINS
JPow needs to step into that asshole, close the door behind him, spray paint “JERRY WAS HERE”, “WASH ME”, all that kinda shit, leave snicker bars and newspaper on the floor, open the asshole again, step out, and leave it wide open to let ‘em know he was in there 50 basis points Wednesday
I miss when the value prop of Airbnb was that it was cheaper and easier than hotels with more amenities and nicer spaces. Now it’s like “one room in house, shared kitchen and bathroom, NO NOISE AFTER 8PM, MUST WASH SHEETS, NO FOOD, 250 per night” Hotels are goated now
Tesla wouldn't warranty the 'chrome' trim discoloration from using a CAR WASH on our Model 3. If the CAR can't stand up to a CAR WASH, that I've used 100s of times in other cars, it sure as shit won't stand up to this stunt. Whole thing will be salvage soon.
The fucking CAR WASH I go to has a tip jar now.
nah son, don't be talking about how taxes work when you have no clue about the fucking WASH SALE rule. your post is a half truth that is gonna fuck someone up who thinks their net P/L as of Dec31 is 100% guaranteed what their tax liability will be in april. Go ask a CPA about the following if you need to. His net gain at the end of 2022 will be his tax liability IF AND ONLY IF: 1. he sold ALL shares of the tickers he lost money on 2. closed ALL long call/put options by Dec 30th 3. **DOES NOT REBUY SHARES OR CALLS IN ANY OF THESE TICKERS IN JANUARY** (technically for 31d after the dec sale date but better to not fuck with the IRS on a technicality) 4. Bonus: doesn't sell ITM or ATM puts in any of the loss-generating tickers if he violates ANY of these he will owe a fuck ton of tax for tax year 2022 even though he lost ALL the money by year end.
**What is a WASH SALE? CPA's hate this ONE SIMPLE TRICK!**
NOW DONT TRADE IT FOR 35 DAYS OR YOU GONNA FUCK AROUND AND FIND OUT ABOUT A WASH SALE lol
I think it's funny y'all think any crypto is any different. 80-99% of ALL EXCHANGES ON ALL EXCHANGE MARKETS ARE WASH TRADING.
SEC INVESTIGATING $22 MILLION DOGECOIN WASH SALE” ^(FXHedge @Fxhedgers at 2022-10-29 12:29:20 EDT-0400) SOURCE: https://twitter.com/dogewhalealert/status/1585914684405866497?s=46&t=xbE8UWIJo51dCOTM8DyFCg
The perfect fit would be: #WASH AMADA WIT U?!? (All real, and spectacular)
Yeah I’m feeling this way today. I have a question, if I bought and sold a stock last week for a profit. And the same stock was down $2.50 today if I bought the same stock today would that negate (WASH) my last weeks profit?
Got the late night 🔒s ready ASU +16.5 BYU -21.5 WASH -14.0
Add WASH -14 to make it a 12 legger
>TWO BUSLOADS OF MIGRANTS FROM TEXAS DROPPED OFF IN FRONT OF VP HARRIS'S RESIDENCE IN WASH DC https://t.co/dUlmClCAxg ^FXHedge ^[@Fxhedgers](http://twitter.com/Fxhedgers) ^at ^2022-09-15 ^19:51:44 ^EDT-0400
>TWO BUSLOADS OF MIGRANTS HAVE ARRIVED IN CHICAGO FROM TEXAS, TEXAS GOVERNOR HAS ADDED CHICAGO TO LIST WITH WASH DC AND NYC -FBN ^FXHedge ^[@Fxhedgers](http://twitter.com/Fxhedgers) ^at ^2022-08-31 ^20:50:19 ^EDT-0400
>WASH DC AG SUING MICRO STRATEGY’S MICHAEL SAYLOR, SAYS HE OWES MILLIONS IN TAXES WHILE HE LIVED IN DC ^FXHedge ^[@Fxhedgers](http://twitter.com/Fxhedgers) ^at ^2022-08-31 ^13:58:18 ^EDT-0400
>WASH DC AG SUING MICRO STRATEGY’S MICHAEL SAYLOR, SAYS HE OWNS MILLIONS IN TAXES WHILE HE LIVED IN DC ^FXHedge ^[@Fxhedgers](http://twitter.com/Fxhedgers) ^at ^2022-08-31 ^13:57:15 ^EDT-0400
I have a specific question about WASH sales if someone could help please. I know what a wash sale is in itself, but I had a hard time finding an answer to my question. Say I buy ABC stock at $1.00 x 1000 shares. My cost is $1,000 dollars and my cost basis is $1.00 . I decide to sell half of the shares for a loss at .90 a share.. so .10 cents x 500 shares.. I lost 50 dollars. Now say the price of the stock drops to .50 a share. If I were to buy say 1000 more shares at .50 , that is a wash sale on those 500 shares I sold. but only for 500 shares not all 1000 I just bought at .50 but my main question is.. even if 500 are a wash, and 500 are not, and the price of the stock goes back to 1.00 Wouldnt I still make a profit on all 1000 shares I bought at .50? Even on the 500 that was a wash?
WASH your BAWLS young man! >:I
FFS. WASH YOUR FUCKING HANDS PEOPLE ^^^and ^^^clean ^^^your ^^^sex ^^^toys
#HOW TO TRIGGER WASH SALE 101 STEP 1: BUY AND SELL AND BUY THE SAME STOCK IN RAPID SUCCESSION STEP 2: SEE WASH SALE ICON IN YOUR TRADING APP OF CHOICE STEP 3: GET REKT AT TAX TIME, GET BANNED FROM TRADING FOR 90 DAYS Thank you for attending my yell talk
cause your penis IS DISGUSTING. WASH YOUR HANDS YOU UNCULTURED FUCK.
BE CAREFUL OF THE WASH SALE RULES. If you didn't lose then it's fine. If you're assigned at a loss wash sales can ruin your taxes.
credit spread on spy, let's say, u did that every week, will that be considered as WASH SALE?
Go 75 percent in cash Rest buy and hold top notch dividend paying stocks that will pay you money Like VZ OR T OR JNJ OR KO OR WASH OR UFT OR MAIN OR D OR ORI OR ED GOOD LUCK
Do you think it will be higher than your original buy in at 31 days? If not sell it , harvest the tax loss and then buy it back after the WASH sale time period.
The way she looks reminds me of the WASH YOUR RICE guy from TikTok
Because ???? You've exhausted EVERY catalyst that was to be liftoff...you guys need a catalyst that can hold you over or near $4 first, and tyde WILL NOT be a saviour...bbig sub yet to understand the term NET WASH.
90 percent of all traded options are done so by large institutions. And a large majority of options are purchased in support of debit and or credit spreads. 1 reducing liability for loss, and 2. Providing liquidity for volatility........this is evidenced by all the ignorant comments regarding options. Things like ohh the stock price is 2.95 on weds and all the friday exp 3c would need be bought at market to cover all the exercised contracts....fir 1 96% of all contracts go unexercised, for 2 In the money and slightly otm stikes are nearly fully hedged so there is basically zero buying pressure...even if every single itm contract is exercised, tgey still wouldn't need to "find shares" educated options traders know this is true by a simple thing called greeks..you can watch the delta change as your strike becomes closer to expiring itm....delta increases as hf are actively adjusting hedged otms that will expire worthless with decreasing delta....and yes bbig is a large group of hopeful bagholders....you've been moving the catalyst goalposts since June 2021, and every catalysts has come and gone now except tgis divi hoping bs....ITS A DIRECT NET WASH...... you all sit here and post, rigged system, sec crooked, mkts are rigged and manipulated, yet you hold a zero value stock trading at insane revenue multiples and think a "free money dividend" is the saving grace....fyi if there were any free money in the mkts or elsewhere EVERY INVESTOR AND THEIR BROTHER would be jumping on asap.....but yeah, retail prob much smarter regarding investing than a multi billion $$$ investment firm that's practiced these exact same practices for decades.....but sure...retails smarter.......just ask gme and amc apes been waiting fir squeeze #2 cause squeeze #1 of 1000% runup "wasn't a squeeze " ....and before it's said the "I made money on gme and amc and bbig " so did I, but not cause of redditt dd I came to redditt to follow one dude at that time and see what the whole deal was......one solo investor locating an erroneous system regarding a solo ticker in a black swan event,,,being covid, lockdown, heavily shorted retailer dying and a s.m. bandwagon all occurring at exact right times....some may call it a coordinated effort.....some say it was designed to funnel stimulus back to the top 1% wealthy. ....the shits comical at this point....as it was drilled into my head, I pass along a piece of advice, nothings free in this world and a little common sense goes a lonnggggg way...enjoy that " free money" tax free dividend.....ask yourself how you can own a tax free asset, if ANY asset that gains value is subject to capital gains tax......
If they sale remind them to read about and avoid a WASH SALE. They could reduce their taxes for the next several years if they lose enough selling while down, unless they buy a similar stock in the 30 days following. This is not financial advice. Do your own reading.
How else will Rite Aide provide higher profits next quarter? YOU CAN EAT OFF THE FLOOR AFTER YOU WASH IT, SLAVE!
You playboys are not understanding the wash sale situation here. This guy most likely did not lose a million bones. Understand that even if you let the holding period expire, or you make a realized gain on the position factoring in the adjusted cost basis, it will still show the wash sales disallowed and the adjusted cost basis on the 1099. In other words this just means these were wash sales at the time, it does not mean he actually has net losses of that amount. If you are a very active trader with say a $50k account, even if you are extremely profitable with a large net gain on the year, it is likely that you will have "cost or other basis" that exceeds proceeds, and "wash sale disallowed" that exceeds not only your actual profits but could be many multiples of your account size, easily into the millions of dollars. This does not actually mean you have a net loss on your account nor does it mean you will be able to offset future gains with those washes. If you're profitable on a given ticker or the holding period has expired, PROCEEDS - (COST - WASH) = your actual P&L Here's an example from my own 1099 of a ticker that, admittedly, I traded poorly (which makes it a good example - strongly profitable ones will have proceeds above adjusted basis regardless) SQ: Proceeds 283,953,588 Cost 289,226,996 Wash 5,281,867 Gain 8,459. So, if you take my actual proceeds - amount I paid for stock, I actually made 8,459. And the amount I paid does not actually match the Cost above. In reality, those "losses disallowed" are more than 10x the size of my account. So obviously I did not actually lose that much nor will the IRS allow me to offset future gains with it - this would probably result in never paying taxes ever. Side note for those worried, once you're net positive on a ticker it's mathematically impossible for previous wash sales to count against you. Work out the math on your own and it'll click. TLDR These were wash sales at the time not necessarily active ones
Tell me WSB ..Who would be proud of losing a trade I am in trading to make money .If I lose one trading in one stock .I will quit Money don't grow on tree. ..AND NOBO CAN BTAIN WASH ME INTO LOSING IS COOL SMFH
What do you mean? The CSP premiums are instantly paid out and are considered capital gains. I believe since they are short term PUT options, the payouts if it expire worthless are considered short term capital gains. If it expires ITM and is exercised then the option premium goes towards the calculation of the cost basis. I just import my Robinhood account electronically into TurboTax software. Robinhood (APEX I believe is their processor), does this through their statements and TurboTax imports all the necessary forms. If you are asking beyond that, I'm not sure what you mean as I am not doing anything on my side. Everything is tracked through the brokerage statements and imported though tax software as necessary. I've heard where sometimes WASH sales and gains were a bit off with a brokerage but that is a bit beyond me and I'm not personally tracking it offline through an excel sheet. I am relying on my brokerage firm (Robinhood/APEX) to do this correctly. The only thing I do myself in my excel sheet is take mark of the amount of dividends + premiums I've received month to month to chart out and I have a couple columns to track my cost basis OVERALL of how much money my direct deposit + extra ACH transfers for cash I do with amount/date/from what account. That way I can track my TOTAL RETURN OVERALL. Beyond that, I don't really both much. I don't worry about taxes. If I'm paying taxes that most likely means I'm making money in my mind.
Who took this picture of me after seeing my WASH SALE 
Holy fuck, so here's what happened: I was bag holding CLOV for a long time, and desperately selling covered calls to help with the losses. Eventually, I accepted a massive loss on the CLOV shares because the bags were heavy. However, since I had been very consistently selling the covered calls, the massive loss on my shares was declared a **WASH-SALE and does not apply to my taxes!** It's a swing of $8k-- from a $3k loss to a $5k capital gains
Kid seemed like a crybaby that what all people consider millennials to be. Lazy complainers that do nothing to change their situation. “Homeless” yet driving a $15k car, gaming on easily a $1k laptop. Give me a break, the world is hard… grow some balls and WASH THE POOR OFF
Cathy wood is probably staring at her computer right now shouting WHAT THE FUCK IS A WASH SALE I swear she sells everything at a loss aside from Tesla.
900k IN WASH SALES AND ONLY 200$ NET GAIN “16 missed calls “
INCOMING WASH SALE QUESTION FROM ROBIN HOOD 1099 Get ready !!
Honestly, you can think you know everything about investing but there is one thing that not a single investor knew before investing. Becareful of WASH SALES, you can end up paying more money than you made.
No. TLH is strictly [the sale of assets that will create a capital loss for the goal of offsetting capital gains](https://www.investopedia.com/terms/t/taxgainlossharvesting.asp#:~:text=Tax%2Dloss%20harvesting%20is%20the,than%20long%2Dterm%20capital%20gains.). You are "harvesting" the "loss" for the purposes of "taxes". The IRS didn't want people doing and government doesn't encourage trading so they implanted WASH SALE RULES. WSR basically boils down to [you can't claim capital losses and reenter a position with 30 days](https://www.investopedia.com/terms/w/washsalerule.asp#:~:text=A%20wash%20sale%20occurs%20when,similar%20security%20within%2030%20days.) The reason why people "take the loss and then switch your holding to something similar" is because they want TLH but WSR prevents them from going back into the same position. You don't HAVE to buy something similar or anything at all. Law just states you CAN'T buy the same thing. If you do then they won't let you deduct those capital losses against your gains. I sold my BABA at $120 for capital losses to offset my puts option gains this year. I thought about buying Tencent/KWEB but opted to buy other stocks instead because I didn't want to keep the same amount of China exposure and don't think Xi would 180 on his crackdowns before my 31 days anyways.
I don't care, I don't post plays on here until they rip, too many flippers and shorters. Anyone who was a bag holder is like yourself, only knowing 50% of the knowledge without knowing basic things like a STOCK WASH My profits are secure and safe 🤣 Not financial advise or prediction just opinion
Then you can deduct losses against your wages. Max $3K a year. Also make sure you put your money into 401K and IRAs. It's basically tax free gambling money. If those who never win (aka most of the YOLO FD into memestock retards) use trad IRA since it will reduce your *CURRENT TAXES NOW* rather than giving you a tax break later when you withdraw gains (lol) Also OP and others might want to read up on [WASH SALE](https://www.investopedia.com/terms/w/washsale.asp) unless they want to casually risk getting gang raped by IRS and Uncle Sam. TL;DR on wash sales is you can't buy the same stock/option within 30days of claiming a loss. If you bought BABA 30 days ago or BABA calls 30 days from now then it won't be OK. It's ok if you claim BABA losses from shares you bought this June now and then buy Tencent calls, Amazon shares, or even the KWEB ETF that holds BABA.
Protip: If you file as a stock trader you can IGNORE WASH SALE RULES.
Shills account always show loss on WSB Real investors always SHOW WINNING account on WSB WE KNEW SHILL LIKE TO BRAIN WASH TO THINKING LOSS IS O.K GET THE FUCK OUTTTA HERE
No... not at all. It is illegal to have multiple brokerage accounts to buy/ sell the same security to attempt to profit off of price disparities. Such actions would also activate the WASH rule, is highly prone to market manipulation providing no stability to markets and is highly illegal. Arbitrage specifically refers to when a company/ security/ asset is available for trade in different markets/ exchanges; e.g. NYSE vs Nasdaq vs Shanghai etc. The potential and opportunity for market manipulation is dramatically lower when going between markets. Hence, purchasing the same security and executing trades on differing exchanges would not be illegal.
Alright, tards, in 10 minutes it's time to go take a piss (WASH YOUR FUCKING HANDS FOR ONCE), get some more coffee and plant your asses in the seat and await the news that will take your portfolio to zero and beyond.
I'm not a tax dude but your short position sale profits are considered ordinary income so it's not really a write off unless you went negative on your realized gains vs losses. My current understanding is if you made +3000 and you sell short -3000 for a loss you will have $0 impact on ordinary income as they balance out. I've read through the IRS site and a bunch of various trade sites and what I'm saying above appears to be true for 2021. You need to make sure you don't WASH a sale so sell your +30 day or older loss lots and don't buy anything like them again for +30 days. Also don't forget that the trade needs to settle so don't sell on the last day of the year (I think that timing is right). Honestly, I don't know 100% for sure because I've not had as good a year as this one in the past.
Wash sale rule confusion: Ok, so can someone explain why I am getting penalized for this when I read the rules and still am confused what happened. I bought a stock at 3 separate prices on November 2nd (10 shares), November 4th (15 shares), and November 5th (10shares).Total of 35 shares. Today when I sold, the stock was all at a loss. On December 1st today, I decided to sell HALF my position in the total shares (17 shares) at a loss. However, looking at my realized gain/loss it says those 17 shares are all at a WASH SALE and can't be used for tax purposes. The 11/2 and 11/4 acquisition date shares are listed and 12/1 as my liquidation date. -- HOWEVER, I was under the impression "wash sale" only comes into effect when I try to BUY BACK a stock that I sold at a loss before 30 days are up??? This popped up in the case when I sold something. Wash sale is also an issue whenever I try to Sell a stock? That makes no sense and I am very confused. I thought it only took effect when I try to buy a stock again. Not ever when I sell a stock and have yet to buy it again. Can someone please explain so I don't make this mistake again.
May I have some of your tasty beverage to WASH this down?
WASH RIINSE REPEAT. ALL DAY LONG. Im getting some puts at close. Will print next week at some point. FREE MONEY GLITCH!
You are a unitary entity. If you lose money on stock ABC, selling for a loss, in a taxable account and buy ABC within 30 days in an IRA... A WASH SALE is created, and the tax loss is swept into the IRA, never to be deducted as a capital loss. The broker may produce by account 1099s, but you have to keep track of inter account issues.
the shares are your ownership in the company. Lets use WASH as an example. Just under $1B in market cap. They have 17.32M shares outstanding. 74% are held by institutions, and 2.4% are held by insiders. Current share price is 55.91. To own 10% of the company you would need to buy 1,732,000 shares, or $96.8M dollars worth of stock. So look at the outstanding shares for your company, and see what 10% of it would be.
> Then they close the contract again at another loss of 0.02 ($2). It all hinges on what exactly you mean by this. How are you calculating this loss? It's better to state the closing price rather than the net. If the second trade was opened for .05, what was it closed at? You said the loss was .02, so that could mean **either** the closing price was .03 (because the non-adjusted cost basis of .05 - .03 = .02) or .05 (because the adjusted cost basis of .07 - .05 = .02). So which do you mean? I find it easier to use round numbers. Here's my own example, is this close enough to what you meant? Trade 1: Open for $5, close for $4 Trade 2 is "substantially identical": Open for $4, close for $1 Due to the loss carry-forward of a wash sale, the way you document this on Schedule D is: Trade 1 (date): Cost basis = $5, closing value = $4, 0$ short term capital loss (due to WASH SALE) Trade 2 (date): Cost basis = ($4+$1 loss carry forward)=$5, closing value = $1, short term capital loss = $4
That is the *literal opposite* of how wash sales work in an IRA, and therefore one of the *benefits* of trading within an IRA THERE ARE NO WASH SALES WITHIN AN IRA For EXACTLY the same reason there aren’t capital gains taxes in an IRA
Actual pro tip: no girl likes dick cheese..... WASH YO DICK
naive question: Can you buy a share next day after you sell at profit? are there any tax consequences or caveats? I understand WASH Sell but just wondering about sell and buy after a profit.
All I need to know is *DID YOU WASH YOUR HANDS AFTER*?!?
All in 69k $WASH TO THE MOON!!
You bought the position in your IRA over 30 days before you sold the shares yesterday right? You know about the WASH sale rule?
This man lied to Forbes about his story. (Or omitted some other piece of critical information.) The scenario you describe is impossible. RH, like all brokers, automatically adjusts the cost basis so that the losses disallowed are "realized" in the subsequent transaction, i.e., built into it through the cost basis adjustment. That's why it's called a **WASH** sale. Because it's all a wash at the end of the day. The only situation the wash sale comes into effect is if you try to sell and repurchase over the New Year. This is why the wash sale rule was created.
TDA went to FIFO a year or ago. I have no choice. BUT, since it (probably) raises ur cost ave. u may realize losses if u sell again. Just heed the WASH SALE RULE, best u can. But, it’s sorta the same thing. Ur losses will be added to your cost basis… accounting can be fucked up, imo!
How could you say such things!’ADAM ARON HAS HELPED HEDGIES WAYYYYY MORE THEN ME! LOL WASH YOUR FILTHY FACE LOL