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Started By
Message
Selling and Buying TD Ameritrade
Posted on 4/26/21 at 7:48 am
Posted on 4/26/21 at 7:48 am
Potential issue. I sold some stock Friday after holding for one year. Bought on 4/23/20 and sold 4/23/21. This is one year of holding. However, now it shows up as a short term position in my selling of it...the others I bought 4/23/20 are now showing as long-term.
Is this a mistake on them or am I actually going to be screwed with this? That is quite literally holding for one year and should be treated as such, no?
Is this a mistake on them or am I actually going to be screwed with this? That is quite literally holding for one year and should be treated as such, no?
5
Posted on 4/26/21 at 7:54 am to rpg37
I hope I'm wrong but I think you needed to wait until the next day... I think it's "a year or less" for short term unfortunately
Posted on 4/26/21 at 8:04 am to itsbigmikey
Jesus. 4/23/20 to 4/23/21 is 366 days. A year would have been 4/23/20 to 4/22/21. I hear what youre saying. How/when is this taxed? Can I just file it as a longterm stock hold?
Posted on 4/26/21 at 8:23 am to rpg37
I understand why you're upset but what was waiting one more day just in case?
Posted on 4/26/21 at 8:25 am to rpg37
Doesn’t matter the trading house. You should’ve waited another day. This is discussed in another thread, but it’s hard to search for because it’s buried.
Posted on 4/26/21 at 8:27 am to rpg37
How much $$$ we talking?
Posted on 4/26/21 at 8:30 am to rpg37
I think your clock starts on the 24th. The day after you buy.
Posted on 4/26/21 at 11:15 am to rpg37
quote:
This is one year of holding.
LINK
No idea if this is gospel, but from that link:
quote:
You must own a stock for over one year for it to be considered a long-term capital gain. If you buy a stock on March 3, 2009 and sell it on March 3, 2010 for a profit, that is considered a short-term capital gain. Also, an important thing to remember is that the holding period clock starts the day after you buy the stock and stops the day you sell it.
Judging by that logic, you bought on 4/23 but really the trade wasn't recognized until 4/24, and if you sold on 4/23 the next year you held for one year, but need to have held for over one year. Not a CPA or anything of the sort but that would seem to be the issue. I have no idea why one stock would be treated different than the others though...
This post was edited on 4/26/21 at 11:18 am
Posted on 4/26/21 at 11:44 am to rpg37
the definition of LTCG is more than a year, not a year
you screwed yourself
you screwed yourself
Posted on 4/26/21 at 12:12 pm to rpg37
quote:Yeah, don't do that
Can I just file it as a longterm stock hold?
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