Yes - don't earn anything. Or do tax evasion, and wait for a prison term when they eventually find you.
Traders: who does your taxes?
- Thread starter bat1
- Start date
Yes - don't earn anything. Or do tax evasion, and wait for a prison term when they eventually find you.
Ed, who do you trade with? IB actually makes it easy on their statements to match up transactions quickly with the "O" (open) and "C" (close) codes.
I used to trade a lot with TDAmeritrade (back when they were just Ameritrade) and my husband wrote me a script in PERL that would spit out all of the matched pairs of transactions. It was smart enough to do FIFO splitting of opening positions when I closed them out a little at a time. It also had the intelligence to mark wash sales and such. I don't know how much tweaking it would require to work with another brokerage's statements.
I used to trade a lot with TDAmeritrade (back when they were just Ameritrade) and my husband wrote me a script in PERL that would spit out all of the matched pairs of transactions. It was smart enough to do FIFO splitting of opening positions when I closed them out a little at a time. It also had the intelligence to mark wash sales and such. I don't know how much tweaking it would require to work with another brokerage's statements.
Quote from bat1:
it's tax time
and like a fool I did like 400+ trades in 07
and now the dead line is near.
I kept no records of my trades and feel overwhelmed
right now
I just want to get staight and keep better track of
my trades so this mess won't happen again
Help!
call me names and all I already feel it coming
Ed
the question is lame to begin with...what did you trade?did you make any money on those 400+ trades?
if you do-then your broker should provide you some tax forms.didn't they? what do you have?
No freebees....I suggested paying estimated.
The clock starts ticking April 15th.
http://www.irs.gov/pub/irs-pdf/n433.pdf
http://www.irs.gov/publications/p505/index.html
I may be a little slow but please explain a few things to me.
1) "no one here makes money", but you have to pay $225,000 for your first quarter estimated tax? so your baiscally tell us you made over 3 million last year. So your the only person who makes money on ET?
2)how do "estimated quarterlies suck to no end", if you get to keep all the money you earn and all you need to do is keep 35-45% set aside in an account accumulating intrest. Would you rather have the IRS deduct it out of your paycheck every week. im guessing your one of those people who thinks if they got a refund they got free money from the IRS, rather then in reality you gave them an intrest free loan for a year.
3)im guessing your joking but why do you "need to beg borrow and steal to make your payment due in 4 days"? if you made over 3 million? sounds like someone is bullshitting.
or is very insecure and has to point out he makes money. IM guessing your just full of shithey what do you mean? pay 0 tax a year, or not have to pay estimated taxes?
It's worse than you think as '226,000K' is actually 226 million. I'd call Uncle Ben for a loan.
id be excited if my estimated tax payment was 225 million was due in 4 days
You assume quite a lot. I'm totally full of shit. I just wish I were about this tax bill...newpie
Quote from KeithOmalley:
I may be a little slow but please explain a few things to me.
1) "no one here makes money", but you have to pay $225,000 for your first quarter estimated tax? so your baiscally tell us you made over 3 million last year. So your the only person who makes money on ET?
2)how do "estimated quarterlies suck to no end", if you get to keep all the money you earn and all you need to do is keep 35-45% set aside in an account accumulating intrest. Would you rather have the IRS deduct it out of your paycheck every week. im guessing your one of those people who thinks if they got a refund they got free money from the IRS, rather then in reality you gave them an intrest free loan for a year.
3)im guessing your joking but why do you "need to beg borrow and steal to make your payment due in 4 days"? if you made over 3 million? sounds like someone is bullshitting.