Current Events > Looks at stock market futures

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REMercsChamp
10/02/20 8:33:20 AM
#1:


Welp

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CableZL
10/02/20 8:35:15 AM
#2:


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REMercsChamp
10/02/20 8:35:59 AM
#3:


I keep my stocks in a tax free account which has a contribution limit and I'm fairly sure i'm tapped out or almost there. So I'd have to sell stuff at a loss to buy more.

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Dat_Cracka_Jax
10/02/20 8:38:51 AM
#4:


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REMercsChamp
10/02/20 8:40:12 AM
#5:


Dat_Cracka_Jax posted...
Can't just open another account that isn't an ira?
I'm not going to open another account where I then have to report the taxes on them for a minor 1 day dip in the market.

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CableZL
10/02/20 8:44:29 AM
#6:


REMercsChamp posted...
I'm not going to open another account where I then have to report the taxes on them for a minor 1 day dip in the market.

You wouldn't have to report taxes unless you sold stock at a profit or gained more than $10 in dividends total. That's how it is in the US, at least.

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REMercsChamp
10/02/20 8:45:39 AM
#7:


CableZL posted...
You wouldn't have to report taxes unless you sold stock at a profit or gained more than $10 in dividends total. That's how it is in the US, at least.
Well, I imagine that's why I would be opening the account. Because I'm expecting to make a profit from them.

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Theon_Greyjoy
10/02/20 8:48:59 AM
#8:


CableZL posted...
You wouldn't have to report taxes unless you sold stock at a profit or gained more than $10 in dividends total. That's how it is in the US, at least.
I'll add that you should be reporting your realized losses as well.

And yeah, you only report gains and losses when you sell.

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CableZL
10/02/20 8:50:10 AM
#9:


REMercsChamp posted...
Well, I imagine that's why I would be opening the account. Because I'm expecting to make a profit from them.

So you would prefer to make less money just so you don't have to pay more taxes?

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CableZL
10/02/20 8:50:51 AM
#10:


Theon_Greyjoy posted...
I'll add that you should be reporting your realized losses as well.

And yeah, you only report gains and losses when you sell.
That's true. It's more accurate to say you only have to pay taxes on realized gains from sales and dividends.

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REMercsChamp
10/02/20 8:54:09 AM
#11:


CableZL posted...
So you would prefer to make less money just so you don't have to pay more taxes?
Basically the effort of going through making this new account, having to report the taxes on them isn't worth it for a one day blip in the market.


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REMercsChamp
10/02/20 9:34:49 AM
#12:


Only dropped $1000. Not bad considering.

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CableZL
10/02/20 9:43:27 AM
#13:


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Squall28
10/02/20 9:45:45 AM
#14:


CableZL posted...
Yeah, I'm not down that much at all.


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You can't go back and change the beginning, but you can start where you are and change the ending.
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ThunderTrain
10/02/20 9:46:30 AM
#15:


Stock Market is all artificial anyway

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Look at all these slave masters posing on your dollar
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REMercsChamp
10/02/20 10:08:56 AM
#16:


ThunderTrain posted...
Stock Market is all artificial anyway
It's real money I'm gaining and losing?

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ThunderTrain
10/02/20 10:10:20 AM
#17:


REMercsChamp posted...
It's real money I'm gaining and losing?

You don't have any say what happens to those stocks though. Its all manufactured.

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