Tax : Wash sale loss disallowed

[Hindhustani]

Ee year stocks lo Chala loss around 200k ,  I don’t know how to track 30 days buy sell of same stock wash sale rule , in the process of avging didn’t realize. On paper it showing Net loss 30k .. what are the options I have . How you manage/track generally 30 days buy sell across stocks. 
 

@Vaampire @dasari4kntr

[dasari4kntr]

1 hour ago, Hindhustani said:

Ee year stocks lo Chala loss around 200k ,  I don’t know how to track 30 days buy sell of same stock wash sale rule , in the process of avging didn’t realize. On paper it showing Net loss 30k .. what are the options I have . How you manage/track generally 30 days buy sell across stocks. 
 

@Vaampire @dasari4kntr

thumb rule…

step 1: if you buy any stock hold for 30 days…

step 2: after 30 days if the stock fell down sell it but dont buy it (same or similar) immediately again wait for 31 days to buy back…to hold the position..

in this case only IRS considers you have capital loss…so this is total to 61 days process…

most of the ETF portfolio managers does the same…during their rebalancing portfolios…

if you are daily trader…you need to consider 61 days rule of buying selling rebuying process…

 

i am not that big investor and i have lot of restrictions to trade…like if i buy any stock i have to hold 3 months..and every stock purchase i need to take permission from my company..etc so i dont do active daily trading…so i cant suggest you much..

[ramudu]

1 hour ago, Hindhustani said:

Ee year stocks lo Chala loss around 200k ,  I don’t know how to track 30 days buy sell of same stock wash sale rule , in the process of avging didn’t realize. On paper it showing Net loss 30k .. what are the options I have . How you manage/track generally 30 days buy sell across stocks. 
 

@Vaampire @dasari4kntr

200k loss aaa? You don't have any other options , aaa 30k lo kuda after deducting any realized profits , only 3k nee (if you file jointly) tax loss lo claim chesukogalav and 27k carry forward,  stay away from day trading, especially revange trading

[Vaampire]

U can always check ur last 30 days transactions to see if u sold the same stock for less price. Lekhapothey excel sheet maintain chesuko.

u cant claim more than 3k loss per year. Hopefully if u get profit this year, u can offset ur loss.

which stocks did u trade?

[kishoreN]

I have a question folks..

what if we have profits of 300k in the 2021 and losses of 150k each in the next two years. If someone failed to file taxes.

1 hour ago, Hindhustani said:

Ee year stocks lo Chala loss around 200k ,  I don’t know how to track 30 days buy sell of same stock wash sale rule , in the process of avging didn’t realize. On paper it showing Net loss 30k .. what are the options I have . How you manage/track generally 30 days buy sell across stocks. 
 

@Vaampire @dasari4kntr

Can we file taxes for all three years at once. 

[ramudu]

7 minutes ago, Vaampire said:

U can always check ur last 30 days transactions to see if u sold the same stock for less price. Lekhapothey excel sheet maintain chesuko.

u cant claim more than 3k loss per year. Hopefully if u get profit this year, u can offset ur loss.

which stocks did u trade?

+1 , I strongly suggest open your trading platform transactions page daily once , most of them group transactions based on stock ticker , if you see last transaction in less than 30 days and if that ticker sale is in loss , don't do any transaction on that ticker 

[ramudu]

5 minutes ago, kishoreN said:

I have a question folks..

what if we have profits of 300k in the 2021 and losses of 150k each in the next two years. If someone failed to file taxes.

Can we file taxes for all three years at once. 

you need to talk with tax consultant for not reported income , you have to pay tax and intrest on 2021 income and they give 3k per year to claim in  taxes from 2022 , in future if you gain profits , you can use these losses to offset  profits but not other way 

[Vaampire]

36 minutes ago, kishoreN said:

I have a question folks..

what if we have profits of 300k in the 2021 and losses of 150k each in the next two years. If someone failed to file taxes.

Can we file taxes for all three years at once. 

Only @csrcsrcan answer this

[csrcsr]

19 minutes ago, Vaampire said:

Only @csrcsrcan answer this

Company ichina stocks avi konni avi tax lo aviri, 401 tappa stocks tappaemi levu anna

[Complex]

2 minutes ago, csrcsr said:

Company ichina stocks avi konni avi tax lo aviri, 401 tappa stocks tappaemi levu anna

ekkada invest chesthunav anna... real estate, stocks, bonds a?

[Hindhustani]

1 hour ago, Vaampire said:

U can always check ur last 30 days transactions to see if u sold the same stock for less price. Lekhapothey excel sheet maintain chesuko.

u cant claim more than 3k loss per year. Hopefully if u get profit this year, u can offset ur loss.

which stocks did u trade?

Mostly Sklz fubo bro bought at peek , was doing avg until it is in cents 

[Spartan]

etrade and fidelity lo ticker pakkana wash sale flag untadi

i am assuming vere platforms lo kuda undali and they shud warn uou anout it

[Deadp0ol2]

TD ameritrade aithe account statement untadi. Next, antha fast buy and sell maanuko this will kill you emotionally and financially over time. First lo fast profits ochina greed will destroy you.

[dasari4kntr]

14 minutes ago, Hindhustani said:

Mostly Sklz fubo bro bought at peek , was doing avg until it is in cents 

bro..whats was your thought process when you are investing that huge amount on these two stocks.. $sklz $fubo..?

how did you decided at that time to buy these stocks..? just you went on speculation..? or did you do you analysis on fundamentals..etc?

[Hindhustani]

4 minutes ago, dasari4kntr said:

bro..whats is your thought process when you are investing that huge amount on these two stocks.. $sklz $fubo..?

how did you decided at that time to buy these stocks..? just you went on speculation..? or did you do you analysis on fundamentals..etc?

Good question bro . Since motely fool and cathie wood , bought I didn’t check anything