Stock Talk

[Godfather]

I love that hedge funds clearly show when they implode that they're throwing darts the same way that we are, just on way different scales Guess all you really need to be a hedgy is the ability to raise capital and one good year to back it up.

[Teh One Who Knocks]

Robinhood Trader May Face $800,000 Tax Bill

[PorkChopSandwiches]

You fucked up now

[FBD]

he had $1.4M in capital gain income

so how do they calculate that, if you make a profit you owe taxes on it but if you never cash it and lose all that profit, then fuck off you still owe taxes on "winnings"?

and isnt capital gains taxed at less of a rate than that, I thought it was like 15% or something, not 55%

[Godfather]

so how do they calculate that, if you make a profit you owe taxes on it but if you never cash it and lose all that profit, then fuck off you still owe taxes on "winnings"?

and isnt capital gains taxed at less of a rate than that, I thought it was like 15% or something, not 55%

If you never cash in and continue to hold the stock, you don't owe taxes on anything except dividends (if that stocks pays them). For example if I buy a stock in 2019 and it's up 100% in 2020 but I just keep holding, I report nothing at all about it on my taxes, except the dividends. It's only when you sell that you report gains or losses.

If you cash out at a gain, you do owe capital gains tax but that varies based on where you live so I'm not sure there but I think it's comparable to your income tax rate... you can offset your gains with losses but not at a 1:1 ratio The government it too sly for that, your losses only count at about half the rate of offsetting your gains for taxable purposes (depending again on where you live from my understanding).

[Teh One Who Knocks]

So it sounds like his capital gains, since they are short term instead of long term, would be taxed at the highest income tax bracket which is 37%

[PorkChopSandwiches]

Bought QFIN this week

[DemonGeminiX]

Coinbase is supposedly going public next week.

[Godfather]

Coinbase is supposedly going public next week.

The make absolute bank. Run rate of $7.2bn rev and $3bn NI.

I'll probably hop on the IPO at open if I can figure out the price that goes live. I think it should rocket.

[DemonGeminiX]

Just in case

https://www.marketwatch.com/tools/ipo-calendar

I open this webpage at least 3x a week.

[PorkChopSandwiches]

Yeah I can imagine coinbase will do very well

[DemonGeminiX]

Various estimates and predictions have Coinbase debuting tomorrow afternoon at around $400 per share.

[Teh One Who Knocks]

Various estimates and predictions have Coinbase debuting tomorrow afternoon at around $400 per share.

500 Quatloos on the newcomer!

[brah pitt]

Various estimates and predictions have Coinbase debuting tomorrow afternoon at around $400 per share.

You were pretty close, it opened at $381.

[Godfather]

Closed 14% down, glad I stayed on the sidelines for this one.

The regular Coinbase employees all got 100 bonus shares each today apparently. Good day for them....