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99er wrote:Green Shoots!
(Reuters) - Fast-food chain McDonald's Corp said on Monday that it plans to hire as many as 50,000 U.S. additional employees later this month, citing improvements in its domestic business in recent months.
uempel wrote:Me too, bye guys.KENA wrote:Slow day today..I think I am going to start my workout early today.I will feel better when I get done.
Right, but I see many traders repeatedly buying the same thing they just took a multiple losses on and all the gains gotten will not be allowed until all those losses are offset.Out of Bounds wrote:Not exactly, only the gains that offset the losses will be disallowed. Any other gains are yours. It is really no different than end of year reconciliation.
stocksage wrote:Right, but I see many traders repeatedly buying the same thing they just took a multiple losses on and all the gains gotten will not be allowed until all those losses are offset.Out of Bounds wrote:Not exactly, only the gains that offset the losses will be disallowed. Any other gains are yours. It is really no different than end of year reconciliation.
Sure traders can elect to use the mark to market way of reporting and not worry about wash sales but you have to declare by April 15th of the current tax year. I was a full time trader in the mid 90's through early 2000's then retired. I used to use mark to market but wonder how many here do? I don't use it anymore as I travel quite often and mostly swing trade now.gator11 wrote:stocksage wrote:Right, but I see many traders repeatedly buying the same thing they just took a multiple losses on and all the gains gotten will not be allowed until all those losses are offset.Out of Bounds wrote:Not exactly, only the gains that offset the losses will be disallowed. Any other gains are yours. It is really no different than end of year reconciliation.
It all depends on how you do your accounting. If you do mark to market accounting then there are no wash sales
stocksage wrote: Sure traders can elect to use the mark to market way of reporting and not worry about wash sales but you have to declare by April 15th of the current tax year. I was a full time trader in the mid 90's through early 2000's then retired. I used to use mark to market but wonder how many here do? I don't use it anymore as I travel quite often and mostly swing trade now.
And you must use form 4797 not sched D. Once you elect mark to market you are stuck with it forever unless you retire and get permission from the IRS.
99er wrote:Public Service Announcement: Attention West Coasters
Latest forecast has all of California under radiation threat April 6, 7 — Shows levels as high as in Japan (VIDEO)
April 4th, 2011 at 07:41 AM
Fukushima Potential Releases, Xe-133 Total Column for April 4-April 7, 2011, Norwegian Institute for …Read More
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Canada suspends mobile radiation measurements around Vancouver, BC “until further notice” as radioactive cloud looms (VIDEO)
April 4th, 2011 at 06:46 AM
Nuclear Emergency Response, Health Canada, March 31, 2011 …Read More
http://enenews.com/
90ufo wrote:1) I use MTM and form 4797(income tax rate), but I report section 1256 trades on schedule D because of favorable tax rate(60% LT/40% ST), do you?
2) because I report all trade-gains on Form4797 and schedule D, my schedule C shows zero income and "operating loss", so I am not eligible to deduct home office expense (utility, insurance, repair, etc) on form 8829. How about you? thanks!
stocksage wrote: Sure traders can elect to use the mark to market way of reporting and not worry about wash sales but you have to declare by April 15th of the current tax year. I was a full time trader in the mid 90's through early 2000's then retired. I used to use mark to market but wonder how many here do? I don't use it anymore as I travel quite often and mostly swing trade now.
And you must use form 4797 not sched D. Once you elect mark to market you are stuck with it forever unless you retire and get permission from the IRS.
cletus wrote:A bull wedge in FAZ could be?
stocksage wrote:90ufo wrote:1) I use MTM and form 4797(income tax rate), but I report section 1256 trades on schedule D because of favorable tax rate(60% LT/40% ST), do you?
2) because I report all trade-gains on Form4797 and schedule D, my schedule C shows zero income and "operating loss", so I am not eligible to deduct home office expense (utility, insurance, repair, etc) on form 8829. How about you? thanks!
stocksage wrote: Sure traders can elect to use the mark to market way of reporting and not worry about wash sales but you have to declare by April 15th of the current tax year. I was a full time trader in the mid 90's through early 2000's then retired. I used to use mark to market but wonder how many here do? I don't use it anymore as I travel quite often and mostly swing trade now.
And you must use form 4797 not sched D. Once you elect mark to market you are stuck with it forever unless you retire and get permission from the IRS.
I don't use M to M anymore because I don't trade anymore full time. I swing trade. Secondly, I want that long term tax rates as I have around 2500 shares of appl I started accumulating around 80/share in 2009 so when I sell I don't want to pay short term tax rates! Ouch.