Unless it's changed you can only deduct $3k a year from losses. You can carry that over year after year until it's all gone. I'm still doing that after one year when I made $30k or so around November/December and ended up paying all the tax on those profits. And then proceeded to lose $40k between January and March. I was only able to deduct $3k from those losses. And am currently still carrying over those losses. Bad timing for me.
This makes it sound like you can write off up to the amount of gains you had, and that the $3,000 only comes into play if your losses are higher than your gains:
I'm up almost $90k so a reduction of $30k makes my taxable gain $60k but once again you're trying to be a wise guy
Good work. What positions are you still in? And I wasn't sure about how the losses worked. I don't think you or everyone else was 100% sure how they worked either.
NQ....i blew that one. tough trade, but man it is flying now. oh and i picked up some VEEV today with a stop basically at the low.
Yeah, I'm really kicking myself for selling it the other day. I could have recovered at least 60% of my loss. I also sold FB yesterday, because I thought the earnings report wouldn't be that good. I guess I have a problem just holding on.
I picked up some XONE call spreads today. They have earnings next week. SSYS has earnings this week too.
lol xone is going to have terrible earnings, robbie clearly didn't see the stock shed 50% recently. Nice call on HIMX bob, what did you say $8.50 on the downtrend? Well we're over $10 now headed into earnings and my .10 calls are now worth .20 thus far not to mention my gains in the shares.
Yeah I'm covering my XONE call spread to. Got long some FB ahead of the TWTR ipo. Should catch a pop for no good reason. Also been sitting in CCCR and trying to add in more since it is moving up. Still long VEEV too...might be covering some. Also did a 1x2 put spread in XOM yesterday. Minimal loss in it, but man this thing is a beast.
and NQ getting smashed after Piper Jaffray suspended their coverage on NQ. They were also one of the lead underwriters on the stock. They are reviewing the Muddy Waters charges.
glad i picked some up during that dip :grin: my kwk stock exploded today with the release of its quarterly earnings
TSLA options pricing is bananas. Calls are way more expensive than puts. Similar to FB options into earnings.
TSLA didn't live up to the mega hyped expectations and they missed on deliveries (edit) and they missed big on revs. Down about 8% now.
