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Tax Harvesting QQQ vs QQQM: does Wash Rule Apply?
| glassy heaven | 09/08/24 |
| glassy heaven | 09/08/24 |
| glassy heaven | 09/08/24 |
| glittery hunting ground base | 09/08/24 |
| glassy heaven | 09/08/24 |
| glittery hunting ground base | 09/08/24 |
| glassy heaven | 09/08/24 |
| glittery hunting ground base | 09/08/24 |
| glassy heaven | 09/08/24 |
| glittery hunting ground base | 09/08/24 |
Poast new message in this thread
Date: September 8th, 2024 1:17 AM Author: glassy heaven Seems easy way in market downturns where your QQQ is at a loss. Just sell it and take the tax deduction while instantly buying QQQM. Or does faggot IRS consider them "substantially the same"? (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061793) |
Date: September 8th, 2024 1:18 AM Author: glassy heaven brokers wont care at least so furk IRS
Brokerages are only required to check the CUSIP is the same when determining a wash sale for purposes of generating a 1099-B. Taxpayers are, unfortunately, held to a higher standard. "Substantially identical" is indeed legal gray area. Be ready to defend your argument in case of an audit or just choose a slightly different ETF to be safe. |
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Date: September 8th, 2024 1:24 AM Author: glassy heaven seems wash rule wont apply:
https://www.kitces.com/blog/the-wash-sale-problem-when-tax-loss-harvesting-almost-substantially-identical-mutual-funds-and-etfs/ |
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Date: September 8th, 2024 1:28 AM Author: glittery hunting ground base ultimately if there's ONE DIFFERENCE in the holdings (not expense ratios) then it's not identical. plenty of vanguard funds just like that. (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061814) |
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Date: September 8th, 2024 2:41 AM Author: glassy heaven i think i read QQQM has 102 holdings while QQQ has 101.. so its diff! (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061897) |
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Date: September 8th, 2024 1:26 AM Author: glittery hunting ground base no they're different funds. they have different exposure to liquid options (why TQQQ is based on QQQ and not QQQM) and I'd probably quote you only $1000 for a letter to IRS for that fact, dear friend.
almost certain you won't be audited, and if you are, I could argue in the strongest fucking terms it's a different fund (i represent my bloodsucking PE employer in virtually all audits)
yes buy and sell as you like |
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Date: September 8th, 2024 1:26 AM Author: glassy heaven thanks jew! (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061812) |
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Date: September 8th, 2024 1:28 AM Author: glittery hunting ground base but now that i remember you sent me recommendation for $SOXL and $TQQQ i'd just email you letter for free. Forgot it was you friend (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061815) |
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Date: September 8th, 2024 2:41 AM Author: glassy heaven tank but i dont need no faggot letter dealing with retard IRS (http://www.autoadmit.com/thread.php?thread_id=5590617&forum_id=2#48061898) |
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Date: September 8th, 2024 8:45 PM Author: glittery hunting ground base you mite get fucked by a spiteful philly agent
they're always wonderful! |