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Stock Thread (12 Viewers)

Might even be able to buy back DKNG in Feb for under $20.  The Omnicron wrecking havoc on the NBA.  The Super Bowl is in jeopardy too because Rodgers has gone missing after getting Covid treatment advise from Stella Immanuel.  And then there is video evidence of Belichick injecting the Packers practice balls with Covid.    

 
beef said:
Might even be able to buy back DKNG in Feb for under $20.  The Omnicron wrecking havoc on the NBA.  The Super Bowl is in jeopardy too because Rodgers has gone missing after getting Covid treatment advise from Stella Immanuel.  And then there is video evidence of Belichick injecting the Packers practice balls with Covid.    
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:lmao:

 
beef said:
I got 4 since I don't mind holding these long.  I'll trim at 13.15, 15.75, 18.37 and close out at 21.  Rough ranges based on trimming 25% at each 25% gain.  And that's just for the newer warrants I bought on the drop and not the warrants I'm free rolling from before. 
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@identikit RE: MTRRW

Getting close to that 13.15, but I'm going to hold off from trimming.  This is in my taxable account and I don't want to sell any winners until the next tax year.  

 
beef said:
Which ones you looking to trim?

The only three losers I own enough of to make a tax difference are DKNG, QS and BLDP.  Not sure I see any of them rising much in 30 days.  I'm not going to completely close them out, but considering cutting them all in half.  
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DKNG here as well.  When are you dumping?  You make good points about it stagnating the next month, hope you're right.

DOCU is another.

MRNA is the third one, which I feel could run in the interim, with all the seemingly endless pending news ahead.  Tough one.

I have no clue whether to wait another week on these or just pull the trigger now.

 
Harry Frogfish said:
DKNG here as well.  When are you dumping?  You make good points about it stagnating the next month, hope you're right.
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Not this week.  I'll probably download some tax software over the Christmas downtime and run some figure through that to see about where I'm at.  Some of my DKNG will be long term now too.  

Sorry I lied and just cut 25% of DKNG using LIFO.  

 
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beef said:
Not this week.  I'll probably download some tax software over the Christmas downtime and run some figure through that to see about where I'm at.  Some of my DKNG will be long term now too.  

Sorry I lied and just cut 25% of DKNG using LIFO.  
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How do you designate LIFO?  Do you have to do that with your broker at the time of sale?  I sold something in my Roth and it used FIFO.  I realize there are no tax consequences, so it doesn't really matter in this account, but I'm asking so I know for when I do make trades in a taxable account.

 
Steeler said:
How do you designate LIFO?  Do you have to do that with your broker at the time of sale?  I sold something in my Roth and it used FIFO.  I realize there are no tax consequences, so it doesn't really matter in this account, but I'm asking so I know for when I do make trades in a taxable account.
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Depends on the broker - I have Fidelity and Schwab and both allow you to choose a default. Both also allow you to make a designation for a specific transaction before you execute it. 

 
McBokonon said:
Depends on the broker - I have Fidelity and Schwab and both allow you to choose a default. Both also allow you to make a designation for a specific transaction before you execute it. 
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I’ve done that with Fidelity a few times to minimize the tax hit in my taxable account. It’s pretty simple as long as you pick it before you sell.

 
I'm talking a long, long-term real estate gain here...as in decades.

And a short-term loss (this year only) on some stock, which doesn't come close the real estate gains.

Is one able to take that loss "against" the real estate gain?

Or is this something I need some legit pro advice on?

Thanks.

 
Harry Frogfish said:
I'm talking a long, long-term real estate gain here...as in decades.

And a short-term loss (this year only) on some stock, which doesn't come close the real estate gains.

Is one able to take that loss "against" the real estate gain?

Or is this something I need some legit pro advice on?

Thanks.
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If you aren't sure, and it sounds like you might be talking about a significant amount of money here, you should be getting professional advice (that shouldn't cost you more than $100-200 anyway) over random advice from an internet forum that is often incorrect, even as well meaning as everyone here is. 

 
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Harry Frogfish said:
I'm talking a long, long-term real estate gain here...as in decades.

And a short-term loss (this year only) on some stock, which doesn't come close the real estate gains.

Is one able to take that loss "against" the real estate gain?

Or is this something I need some legit pro advice on?

Thanks.
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I'm pretty sure that you cannot match a short term loss to offset a long term gain. But I agree with GreenNGold that if it's a significant amount of money, get a pro to help you. 

 
McBokonon said:
Depends on the broker - I have Fidelity and Schwab and both allow you to choose a default. Both also allow you to make a designation for a specific transaction before you execute it. 
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Same with TD.  I have a preset but can override it.

@Steeler When I place the sell order there is a "Tax Lot ID Method" dropdown where I can change from my default. 

Tax lot ID methods TD Supports:

First-in, first-out (FIFO)
Last-in, first-out (LIFO)
Highest cost
Lowest cost
Specific lot
Tax efficient loss harvester
Average cost

I've never used the "Tax efficient loss harvester" and that might be the better route. For my DKNG sale it should have been the same as LIFO. 

 
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ConstruxBoy said:
I'm pretty sure that you cannot match a short term loss to offset a long term gain. But I agree with GreenNGold that if it's a significant amount of money, get a pro to help you. 
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It's not the "best" approach as short term gains are generally taxed at higher rates than long term ones but you absolutely can use short term losses to offset long term gains.

That said, definitely consult with a pro when it's substantial numbers and mixing asset classes.

 
https://www.irs.gov/forms-pubs/about-schedule-d-form-1040

ST gains, LT gains, it's all on Sched D and rolls up to the 1040.  So many other variables to consider from other parts of the 1040 too.  If any of that doesn't make sense, or anyone is really unsure of the best route, seek a pro.  

I used to sort of be one and still do my own taxes, but this year I may reach out for help since I sold some land and have a much more unique situation than from prior years.  

 
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humpback said:
It's not the "best" approach as short term gains are generally taxed at higher rates than long term ones but you absolutely can use short term losses to offset long term gains.

That said, definitely consult with a pro when it's substantial numbers and mixing asset classes.
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This is correct. As per usual, @ConstruxBoy is wrong!

I’m pretty sure I posted about this back when I sold a stock with short term losses because I wanted to raise cash and because I had short term gains to cover.

Basically, it works like this. Short term losses cover short term gains first and if there are excess short term losses, they can then cover long term gains. It works the same way in reverse. Long term losses cover long term gains first and then if still more they cover short term gains.

Typically, you’d have bigger long term gains than long term losses so it’s almost bad to keep holding long term losers because if you have $50k in long term gains and $10k in short term gains, you’d need $60k in long term losses to cover the short term gains if you have no short term losses and short term gains are taxed much higher.

Don’t forget that the gains go on top of your income so whatever your top tax bracket is (and maybe the next bracket), that’s the rate for short term gains.

I’m not an accountant but I do my own (pretty simple) taxes and read a lot about gains taxes. It’s smart to plan because tax harvesting short term losses for long term gains may save you some taxes now, but you don’t want to put yourself into a bad position next year not having enough short term losses to cover short term gains.

Also, complicating things is if you are getting close to retirement when your gains tax rates could drop dramatically so harvesting losses when your long term rate is 0% doesn’t make as much sense if you could have used them while still having income. I know I plan to hopefully take advantage of this maybe between retiring and starting to collect SS. That’s where having a large taxable account can help using that to cover expenses while looking like a pauper and unwinding gains. 0% tax rate on long term gains up to $80k if married. I’m definitely looking forward to that long term capital gains waiver on house gains as I can see us moving in 5-7 years.

 
stbugs said:
This is correct. As per usual, @ConstruxBoy is wrong!

I’m pretty sure I posted about this back when I sold a stock with short term losses because I wanted to raise cash and because I had short term gains to cover.

Basically, it works like this. Short term losses cover short term gains first and if there are excess short term losses, they can then cover long term gains. It works the same way in reverse. Long term losses cover long term gains first and then if still more they cover short term gains.

Typically, you’d have bigger long term gains than long term losses so it’s almost bad to keep holding long term losers because if you have $50k in long term gains and $10k in short term gains, you’d need $60k in long term losses to cover the short term gains if you have no short term losses and short term gains are taxed much higher.

Don’t forget that the gains go on top of your income so whatever your top tax bracket is (and maybe the next bracket), that’s the rate for short term gains.

I’m not an accountant but I do my own (pretty simple) taxes and read a lot about gains taxes. It’s smart to plan because tax harvesting short term losses for long term gains may save you some taxes now, but you don’t want to put yourself into a bad position next year not having enough short term losses to cover short term gains.

Also, complicating things is if you are getting close to retirement when your gains tax rates could drop dramatically so harvesting losses when your long term rate is 0% doesn’t make as much sense if you could have used them while still having income. I know I plan to hopefully take advantage of this maybe between retiring and starting to collect SS. That’s where having a large taxable account can help using that to cover expenses while looking like a pauper and unwinding gains. 0% tax rate on long term gains up to $80k if married. I’m definitely looking forward to that long term capital gains waiver on house gains as I can see us moving in 5-7 years.
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I guess even Debbie Downer is correct on some things. 

 
ConstruxBoy said:
I'm pretty sure that you cannot match a short term loss to offset a long term gain. But I agree with GreenNGold that if it's a significant amount of money, get a pro to help you. 
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This is incorrect. 

Edit: I'm late to the party

 
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Taking some losses to use as offsets and closed out DKNG, BLDP and QS in my day day trading account.  I'll probably buy back QS and BLDP in Feb.  Not sure if I'm interested in any of the gambling stocks anymore.  

My only other ST loser is PLTR but it's minimal so I'll let it ride.  

 
beef said:
Taking some losses to use as offsets and closed out DKNG, BLDP and QS in my day day trading account.  I'll probably buy back QS and BLDP in Feb.  Not sure if I'm interested in any of the gambling stocks anymore.  

My only other ST loser is PLTR but it's minimal so I'll let it ride.  
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I will never buy DKNG again.  Absolutely feckless company. 

 
Didn't realize DIS was actually down on the year (CNBC just talked about it).  Moving all that DKNG money I cashed out on to DIS.  

 
beef said:
Didn't realize DIS was actually down on the year (CNBC just talked about it).  Moving all that DKNG money I cashed out on to DIS.  
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AMZN and DIS are my two largest holdings and they're both down/flat on the year w/ the S&P up like 25%, I really suck at this :lol:

AMZN is flat while AAPL is up almost 30% maybe one day I'll understand how that happened.

 
General Malaise said:
I rented DIS for a few months this year. The fact that they won't pay a dividend bugs me.  Get off my lawn.
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They paid a dividend forever but pulled it because of the pandemic. I think it's reasonable to assume it will be reinstated when, hopefully, this thing is reigned in. 

I like it at these levels.  Bought in 3/20 at $100, sold this year at $178 after it came down from $200+.

JMHO GL

 
FreeBaGeL said:
AMZN and DIS are my two largest holdings and they're both down/flat on the year w/ the S&P up like 25%, I really suck at this :lol:

AMZN is flat while AAPL is up almost 30% maybe one day I'll understand how that happened.
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Amazon is so odd to me. I wonder if all the government anti-Amazon thoughts (first Trump and then AOC with HQ2) had an effect because it’s almost like people think badly about them and not an Apple or Google who are both way more monopolistic but don’t have a Bezos.

I’m really interested in the Q4 numbers and how they do this year. Seems like they are on a lot of do well lists because they had such a muted year. I think the COVID stock label just stuck so it got shelved during the reopening rally.

 
2Squirrels1Nut said:
They paid a dividend forever but pulled it because of the pandemic. I think it's reasonable to assume it will be reinstated when, hopefully, this thing is reigned in. 

I like it at these levels.  Bought in 3/20 at $100, sold this year at $178 after it came down from $200+.

JMHO GL
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They might choose to reinvest into Disney+ for a while instead. I know there’s a significant part of their investor base that would actually prefer they do.

 
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