What’s been sold? Is he fifo or lifo? If he’s a long term investors selling fifo

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Feb 23, 2021
9:31:59am

cougsareforreal Starter

Tax consequences could be substantial ($100s of dollars).

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cougsareforreal

Previous username: rtaylord
Bio page: cougsareforreal
Joined: Nov 11, 2010
Last login: Jun 11, 2024
Total posts: 2,012 (0 FO)

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Messages

Author

Time

Read this if you want to feel better about your investing smarts

Clark Addison All-American

2/23/21 8:55am

So that’s in a taxable account? Ouch if so

hansel

2/23/21 8:58am

Yes and Yes

Clark Addison

2/23/21 9:11am

I did something similar a few weeks back. Only a few 100$$. Put a limit order with the intent to sell if a stock

Probable Sacko

2/23/21 8:59am

It's an ETF. Just immediately buy it right back.

RdF3

2/23/21 9:00am

Wouldn't that be a wash sale, technically?

Psalm Trees

2/23/21 9:05am

If the positions overall are at a loss, yes. But if so, who cares?

RdF3

2/23/21 9:07am

I think wash sales only covered losses

HuskerFan2

2/23/21 9:08am

No. He will be taxed on all his gains.

cougsareforreal

2/23/21 9:25am

He sold $5k on a dip. I’m guessing there isn’t much tax to pay.

RdF3

2/23/21 9:27am

What’s been sold? Is he fifo or lifo? If he’s a long term investors selling fifo

cougsareforreal

2/23/21 9:31am

Ha. Not that bad really.

Stev_ie

2/23/21 9:03am

Buying and selling both end in - ING. Don't beat yourself up too bad 😂

Kauai

2/23/21 9:12am

YOU can read this if you want to feel better...

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