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Holy fucking shot taxes are complicated when you “trade”
Poast new message in this thread
Date: May 16th, 2021 8:56 PM Author: Coiffed idea he suggested orchestra pit Apparently I have to do form 6781 for, “Gains and Losses From Section 1256 Contracts and Straddles” because I bought and sold options on SLV. This is such bullshit. Taking shit itt for not just buying physical. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473596) |
Date: May 16th, 2021 9:02 PM Author: 180 bipolar abode Section 1256 gains are 180. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473626) |
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Date: May 16th, 2021 9:09 PM Author: Smoky cruise ship I like the part where if you electronically file and use a summarized 8949 you have to PHYSICALLY mail them your 1099B with form 8453 even though they REQUIRE BY LAW that the brokerage send the 1099B to them anyway. Stupid fucking boomers thing it’s more authentic if you print it out and mail it? Why does it fucking matter at all? (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473675) |
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Date: May 16th, 2021 9:13 PM Author: Coiffed idea he suggested orchestra pit I didn’t even fucking know that but I’m mailing anyway because this shit is complicated and I don’t want algorithms scrutinizing it. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473698) |
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Date: May 16th, 2021 9:16 PM Author: Coiffed idea he suggested orchestra pit Do I have to mail the brokerage 1099 if I file physically? Google said no (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473717) |
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Date: May 16th, 2021 9:21 PM Author: Irradiated bat shit crazy background story fanboi File physically? Wtf? I’m Never reading again lol |
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Date: May 16th, 2021 9:10 PM Author: Judgmental Hairraiser Corner (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473684) |
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Date: May 16th, 2021 9:12 PM Author: Irradiated bat shit crazy background story fanboi I warned about SLV lmao. I ended up having to pay a guy $4500 to deal with my $56 gains. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473694) |
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Date: May 16th, 2021 9:14 PM Author: Coiffed idea he suggested orchestra pit I don’t even know what straddle means in this context but clearly SLV is just a bunch of futures contracts and not fucking physical silver (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473709) |
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Date: May 16th, 2021 9:17 PM Author: Vermilion up-to-no-good house gunner Just remember that all of your crypto gains are taxable, but loses are not deductible. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473726) |
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Date: May 16th, 2021 9:19 PM Author: Coiffed idea he suggested orchestra pit You can deduct those nbd (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473737) |
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Date: May 16th, 2021 9:22 PM Author: 180 bipolar abode Enjoy jail and an 8% per year penalty (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473754) |
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Date: May 16th, 2021 9:29 PM Author: Coiffed idea he suggested orchestra pit If you document them properly then you can deduct them nbd (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473781) |
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Date: May 16th, 2021 10:32 PM Author: excitant carnelian business firm (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42474033) |
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Date: May 16th, 2021 9:21 PM Author: doobsian hyperventilating market You could just import the forms from your broker into Turbotax and let it do it for you. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473748) |
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Date: May 16th, 2021 9:28 PM Author: Coiffed idea he suggested orchestra pit It’s impossible to know if this is a “straddle” or not, SLV is a black box
The net outcome is that it’s just like any other capital gain, just more annoying |
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Date: May 16th, 2021 9:29 PM Author: Irradiated bat shit crazy background story fanboi How much are we taking here? Why not just report it on a schedule D and let do? IRS just wants their money. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473785) |
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Date: May 16th, 2021 9:33 PM Author: Coiffed idea he suggested orchestra pit It’s on there, but I needed to categorize it as something.
Contracts marked to market Vs Straddle. Which who knows if that applies but that’s the closest answer. Vs other options
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Date: May 16th, 2021 9:33 PM Author: Aquamarine Pit Weed Whacker i thought you only made $280k (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42473804) |
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Date: May 16th, 2021 10:34 PM Author: erotic maniacal box office No other nation on this planet has the complex tax system of america...the tax return industry pays congress to make sure that filing taxes is extremely complicated....the entire govt has adopted this business model...the management is deliberately making rules and processes more complex because it slows down the workers (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42474047) |
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Date: May 16th, 2021 10:37 PM Author: Coiffed idea he suggested orchestra pit I just forget all of this shit every year and it’s so annoying to re-research the same exact things. (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42474052) |
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Date: May 16th, 2021 10:48 PM Author: excitant carnelian business firm this (http://www.autoadmit.com/thread.php?thread_id=4836246&forum_id=2#42474075) |