Disallowed loss reporting question
- Thread starter heliface
- Start date
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That;
+ most CPAs will answer a free phone question.
Even more so, if you say something like how much will you charge for an average 7/+ page tax form??
Like a banker said, ''a good CPA will pay for himself in a minute. '' You could even ask CPAs, on the phone ''I made AGI of $$........, should I is see you?? Most will profit by using a CPA;federal tax law is so complex. And its more than math, 2=2 =4; only one right answer on that .BUT tax forms are more compex/changing, than simple math.Severe penalties apply for even honest mistakes.
Of course if you enjoy IRS forms+ IRS interaction ; always do it yourself. NOT me.
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That;
+ most CPAs will answer a free phone question.
Even more so, if you say something like how much will you charge for an average 7/+ page tax form??
Like a banker said, ''a good CPA will pay for himself in a minute. '' You could even ask CPAs, on the phone ''I made AGI of $$........, should I is see you?? Most will profit by using a CPA;federal tax law is so complex. And its more than math, 2=2 =4; only one right answer on that .BUT tax forms are more compex/changing, than simple math.Severe penalties apply for even honest mistakes.
Of course if you enjoy IRS forms+ IRS interaction ; always do it yourself. NOT me.
An old post for you, but I see you are writing astute answers for yet more needy people. I just recently had to put in a tax extension. I was later than usual because I broke my leg, but also because after I did my taxes I realized I owed tax on almost 28K of wash sales. LOL. Opps. I am now, albeit late, taking the time to now understand tax codes before my appt. with a CPA. Maannnn, but I learn the hard way!
Just wanted to say, "Hello!", because I always see your name and you have helped me numerous times in the past. Hope you are doing well in your trading!
-Lindsay
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Sorry you broke your leg.......... I just got a form letter from the IRS\ but i was not even sure it was from them 'till i opened it. [I PREFER the IRS eagle sitting on a balance on the envelope + it did not have that /LOL]
{ EDIT Some of my investing is doing better than my trading/ so doing both.}
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Lindsay, let us know if your CPA gives you any good news.
I dont have trouble with wash sales , because i mostly trade in my Roth.
And SPXL is not exactly the same thing as UPRO anyway......................................................................................Getwell soon = i used to live on a street named ''GetWell''
,I'm doing my exits more slow, noticed they tended to improve fast if i sold all the position/LOL
I will. I meet with the accountant in another week.%%
Lindsay, let us know if your CPA gives you any good news.
I dont have trouble with wash sales , because i mostly trade in my Roth.
And SPXL is not exactly the same thing as UPRO anyway......................................................................................Getwell soon = i used to live on a street named ''GetWell''
I'm doing my exits more slow, noticed they tended to improve fast if i sold all the position/LOL
Cute street name. I am doing well now. Thank you.
Lastly, I feel your pain. My trading plan includes not selling until price breaches back over the 20MA on my time frame....and I rarely can hold it that long. It is probably one of my most annoying bad habits. One would think that seeing how well this plan does consistently would be enough for me. But I grab early. Maybe sizing out would be an easier idea. I'm always all in, all out.