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net work error posted:So if you made gains on AMC or GME wouldn't you have to deal with tax implications when you actually want to pull it from funny money to actual number in your bank account to buy groceries? yea. it is critically important if you sell at any point to set aside a good chunk of the gains (30% ish I think? dunno what the actual rate is) because the IRS will still want that tax money even if you reinvest the gains and lose it all.
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Jan 27, 2021 16:05
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Shear Modulus posted:robinhood is a very well designed app at its primary function which is making investing look easy and uncomplicated so people use it right but it also breaks a lot and their servers have a habit of melting down at the most lol worthy moments in past wsb meme magicing im actually shocked that it hasnt exploded more in this round of madness
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Jan 27, 2021 16:06
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Paradoxish posted:Yes, but I don't know why this keeps coming up. Unless you're making like crazy amounts of money you aren't going to owe some ridiculous amount in taxes, and you're getting most of your gains either way. If I'm gonna win I'm gonna win bigly
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Jan 27, 2021 16:06
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dorkasaurus_rex posted:im just asking has this poo poo ever happened before?? CANCELLING trades what the actual gently caress The trade isnt being 'cancelled', robinhood is a brokerage that sucks poo poo but is easy to use, and when their computers break then 
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Jan 27, 2021 16:06
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they closed all the gyms i need to find gains somewhre
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Jan 27, 2021 16:06
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dead gay comedy forums posted:object lesson moment here as always This. ANY MONEY YOU PUT INTO THIS DUMB CASINO BULLSHIT SHOULD BE ASSUMED LOST
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Jan 27, 2021 16:06
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Dustcat posted:nope, you owe them as soon as you made a gain, and in fact if you made a lot, you should prepay those taxes at the end of this quarter to avoid a possible penalty dont prepay taxes thats just an interest free loan to the government. even iwth the chump change you make on interest youre better off leaving it in a savings account and also noly the well to do pay quarterly taxes you loving rich piece of poo poo
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Jan 27, 2021 16:06
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Setve Jobs probably ripping cat cables out of the stock servres as we speak
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Jan 27, 2021 16:06
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if you make 6k how much do u pay in taes (lowest tax bracket)
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Jan 27, 2021 16:06
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dorkasaurus_rex posted:buy AMC or buy GME or buy both??? and BB, and KOSS, and and and
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Jan 27, 2021 16:06
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net work error posted:If I'm gonna win I'm gonna win bigly "do you wanna win by 1 point or 30 loving points?" - a wise man that everything turned out great for
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Jan 27, 2021 16:06
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So did that hedge fund that was set to lose over 10 billion thanks to GameStop's rise in after hours trading go under yet?
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Jan 27, 2021 16:06
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Skyl3lazer posted:The trade isnt being 'cancelled', robinhood is a brokerage that sucks poo poo but is easy to use, and when their computers break then im using etrade lol
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Jan 27, 2021 16:06
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so, just fyi, the fact that GME has been pretty stable for the past 10 minutes is probably a bad sign for HODLers. MMs are getting their books neutral and there's gonna be a big gap down now. It's gonna drop back to 200 real fuckin fast
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Jan 27, 2021 16:07
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lol this is so loving stupid what does the stock market even exist lmao
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Jan 27, 2021 16:07
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Rip to a real one:
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Jan 27, 2021 16:07
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PawParole posted:if you make 6k how much do u pay in taes (lowest tax bracket) short term capital gains are normal income tax, so very low like 12%
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Jan 27, 2021 16:07
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PawParole posted:if you make 6k how much do u pay in taes (lowest tax bracket) taxed as regular income
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Jan 27, 2021 16:07
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It took 35 minutes but eventually Robinhood sold my shares. It wasn't the $6000 but I'll take $4000
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Jan 27, 2021 16:07
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Shifty Pony posted:yea. if you reinvested it and lost money you could sell those investments in december and write down capital gains with capital losses this is called tax harvesting and it is a standard practice for any active money manager
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Jan 27, 2021 16:07
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cumshitter posted:dont prepay taxes thats just an interest free loan to the government. even iwth the chump change you make on interest youre better off leaving it in a savings account Correct. I always write a check to Uncle Sam at the end of the year.
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Jan 27, 2021 16:07
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Shifty Pony posted:yea. the tax rate for short term gains is the same as the regular tax rate
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Jan 27, 2021 16:07
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Oh poo poo, my option was NOT exercised. I'm still in at $7. So the longer I've been locked out, and the higher AMC goes the more I'm making on that baby. lmfao. I may not exercise today afterall. To the moon, fools!
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Jan 27, 2021 16:07
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oxsnard posted:so, just fyi, the fact that GME has been pretty stable for the past 10 minutes is probably a bad sign for HODLers. MMs are getting their books neutral and there's gonna be a big gap down now. do I quote this post
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Jan 27, 2021 16:07
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G is for the Gloom i felt M is for the Money i make E is for the hEdge that died A is for the Air he had M is for the Money he lost C is for the Cleanup crew
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Jan 27, 2021 16:07
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seriously though, if you got in on this early then pull out enough to cover your initial investment this poo poo is a lot more fun when you don't even have to give a poo poo about losing play bucks
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Jan 27, 2021 16:07
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Ccs posted:So did that hedge fund that was set to lose over 10 billion thanks to GameStop's rise in after hours trading go under yet? theyre hosed
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Jan 27, 2021 16:08
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dorkasaurus_rex posted:bros is it not loving INSANE that like hundreds of thousands of peoples stock market orders are getting cancelled? ive never heard of such bs well, since the start of the pandemic, there have been a couple of million more small buyers/investors entering the market and it is a likely possibility that the brokerage platforms, much like a new World of Warcraft xpac getting released, were loving morons about their new infrastructure demands and never bothered with stress testing and what not (it is a very likely possibility)
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Jan 27, 2021 16:08
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samantonio posted:Oh poo poo, my option was NOT exercised. I'm still in at $7. So the longer I've been locked out, and the higher AMC goes the more I'm making on that baby. dont exercise your option, just sell the contract when you're ready
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Jan 27, 2021 16:08
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cumshitter posted:dont prepay taxes thats just an interest free loan to the government. even iwth the chump change you make on interest youre better off leaving it in a savings account I wonder if someone could prepay taxes as a way of intentionally and temporarily lowering their savings in order to qualify for government benefits. Ever considered this?
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Jan 27, 2021 16:08
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Pepe Silvia Browne posted:"do you wanna win by 1 point or 30 loving points?" - a wise man that everything turned out great for Yeah he won big what's not to like. He won and busted that's a hero's story.
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Jan 27, 2021 16:08
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cumshitter posted:dont prepay taxes thats just an interest free loan to the government. even iwth the chump change you make on interest youre better off leaving it in a savings account the self-employed do as well
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Jan 27, 2021 16:08
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did amc halt again? my buy in price is so low that i dont care if it keeps dropping i still make money
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Jan 27, 2021 16:08
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Admiral Ray posted:tons of people looking at the GME gains and thinking about the capital gains tax for the first time and concluding it's bullshit
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Jan 27, 2021 16:08
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Dustcat posted:the self-employed do as well so you admit youre a small business tyrant
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Jan 27, 2021 16:08
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dorkasaurus_rex posted:buy AMC or buy GME or buy both???  Read this and you'll understand why you shouldn't be buying GME right now lol
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Jan 27, 2021 16:09
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samantonio posted:Oh poo poo, my option was NOT exercised. I'm still in at $7. So the longer I've been locked out, and the higher AMC goes the more I'm making on that baby. u should exercise everyday to maintain good health and well being.
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Jan 27, 2021 16:09
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Shear Modulus posted:theyre hosed yeah they are but that bitcoin dumbass on twitter was extrapolating their position out as if they didn't cover a single share likely they bought OTM calls and then started liquidating their common short position
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Jan 27, 2021 16:09
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Shear Modulus posted:the tax rate for short term gains is the same as the regular tax rate yeah, this. relax. they treat it as if you got a salary bump or something
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Jan 27, 2021 16:09
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soup. posted:I wonder if someone could prepay taxes as a way of intentionally and temporarily lowering their savings in order to qualify for government benefits. Ever considered this? no, youre paying it with income. paying taxes doesnt reduce your income even if you overpay. the government just refunds your excess payment
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Jan 27, 2021 16:09
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