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Posted on 1/27/21 at 4:01 pm to Civildawg
Is that it? Has anyone done the math on how much SI the blown-up funds have been able to cover?
Posted on 1/27/21 at 4:02 pm to Carson123987
Well gents, it's not private jet money but this experience has actually been life changing. I sold 15% of my GME holdings, parked cash for taxes, and paid off all of my debt except my mortgage.
Now I'm playing with house money and the massive swings are easier to handle. Hindsight is 2020 but I was a mouse click away 10 days ago from 1/29 calls that would have made me a millionaire
Now I'm playing with house money and the massive swings are easier to handle. Hindsight is 2020 but I was a mouse click away 10 days ago from 1/29 calls that would have made me a millionaire
Posted on 1/27/21 at 4:03 pm to Azazello
Yeah, I hope all these people with recently received windfalls are stashing some away for those short term capital gains taxes 
Posted on 1/27/21 at 4:04 pm to rocket31
quote:
the honey aoc is supporting wsb
Lmao it all makes sense now
Posted on 1/27/21 at 4:06 pm to Azazello
quote:
parked cash for taxes
How much is short-term capitol gains tax? How much percentage should we be putting aside?
Posted on 1/27/21 at 4:06 pm to Chucktown_Badger
quote:Roth IRA is what I'm using
Yeah, I hope all these people with recently received windfalls are stashing some away for those short term capital gains taxes
Posted on 1/27/21 at 4:08 pm to PierPunk
Has he taken any profits since the 4 mil he took out?
Posted on 1/27/21 at 4:09 pm to CajunTiger78
quote:
How much is short-term capitol gains tax? How much percentage should we be putting aside?
Depends on your tax bracket, but basically same as ordinary income rather than long term cap gains, huge tax implication difference.
ETA: This link will show you the tax rate tables
LINK
If you can open a roth IRA, that is the best place to play in things you KNOW you will not get to long term on. After tax dollars go in, and you will be able to take it out untaxed at 60
This post was edited on 1/27/21 at 4:11 pm
Posted on 1/27/21 at 4:11 pm to Pendulum
20- 30% is a good rule of thumb
Posted on 1/27/21 at 4:14 pm to Pendulum
quote:But you can pull out your principle at any time.
After tax dollars go in, and you will be able to take it out untaxed at 60
Posted on 1/27/21 at 4:14 pm to oklahogjr
Any accurate, trustworthy info on the quantity of shorts that still need to be covered? Wasn’t that supposed to be released today?
Posted on 1/27/21 at 4:15 pm to Pendulum
how did I never know that people who make under 40k do not pay any long term capital gains tax
Posted on 1/27/21 at 4:15 pm to cgrand
quote:
20- 30% is a good rule of thumb
Copy that. Thanks guys looks like since I am not single status moving forward (just divorced) I'm in the 24% bracket.
Posted on 1/27/21 at 4:18 pm to CajunTiger78
Short term capitol gains are taxed as regular income.
I have an inherited IRA that I have set to 100% withholding for my RMD every December but I will still have tons more to pay after that.
Learned a long time ago not to complain about big tax bills, means you are doing something right.
I have an inherited IRA that I have set to 100% withholding for my RMD every December but I will still have tons more to pay after that.
Learned a long time ago not to complain about big tax bills, means you are doing something right.
Posted on 1/27/21 at 4:23 pm to rocket31
quote:
how did I never know that people who make under 40k do not pay any long term capital gains tax
people who make under 40k typically do not have any long term capital gains significant enough to matter
Posted on 1/27/21 at 4:28 pm to amgslg
Melvin supposedly already covered as of y'day or this AM. They were the big target I think. Calculating short interest in general has a lot of art to it, so high quality data is going to be hard to come by when the stock is this distorted.
Posted on 1/27/21 at 4:35 pm to Lou Pai
I have somebody telling me he saw people talking about selling tomorrow and I don’t believe that. Just troll or misdirection bs I think. I know Friday is a big day and I have my price set at a certain point to sell but Is Monday the really big day people may move?
Posted on 1/27/21 at 4:37 pm to Lou Pai
I have zero knowledge about this other than that people who watch these things said the volume yesterday/last night was not enough for Melvin to have covered???
Posted on 1/27/21 at 4:38 pm to slinger1317
Jesus christ
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