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Ok, I'm glad you figured it out. So what was happening was that if I bought or sold something with multiple lots it would make those lots disappear after the buy or sell and just lump all of them as one position in terms of how many shares and not have any info regarding cost basis or dates. I haven't used the platform today - just traded a bunch of times out of Etrade, not Schwab so don't know if it is fixed yet or not.
It was showing on the website but not on the platform Streetsmart from which I trade off of. So in order to see any updates I'd have to go into the website.
In that platform under positions if you click on that grey arrow under the symbol it opens up all of your lots - tells you when you opened the position, how many shares, what you paid and the date.
Hopefully Sink or Swim works better! Makes me think and not sink! lol
"Sink or Swim" lol. re: StreetsmartEdge, I only use it for the watchlist live stream data. Honestly, I'm not sure I'm following you. I don't even know how to see cost basis lot data with streetsmartedge, I use the Schwab.com website for that info.
Under positions, (in Schwab.com) it doesn't show updated cost basis, and lot info? (right after you buy or sell shares?)
for example, I bought 11 more shares of Twlo today:
Schwab's StreetSmartedge has been a nightmare the past few weeks. When you sell a lot or buy a lot from an existing position not only does it not update but all your other lot positions get lumped into one position with no info attached to them. Also, gain/loss doesn't update. Did a live chat with them last week and they said they see it and will fix it. Today they say they are aware that positions are not updating correctly and I could try shutting down the program, waiting a bit, and then rebooting it. Did that and it did correct, but this is crazy - I have to do that each time I buy or sell something?
I did ask when Sink or Swim will be available for all Schwab customers and she said hopefully by the end of this year.
I don't understand crypto. I'm sure it is the ex-banker in me but I'm sticking with stocks and bonds in USD.
lol hey crypto has been doing good lately. One problem with some of those funds - for some reason they re-report cost basis. Two years in a row this has happened to me. I get my 1099 from Etrade and then like two weeks ago I get amended 1099. All the numbers on the summary are the same but if you go to the last page of the 1099 there is an adjusted cost basis for certain funds. And it's always a very small amount of like -20 or -50. But you have to report adjustments to investment sales and subtract (or I guess add if it is a positive number) from the reported amount of the cost basis on an entirely different line. It falls under (NMWHFIT) or Non-mortgage widely held fixed investment trusts. This year I got one because I had traded Grayscale Bitcoin.
Or donate the money to charity and take the tax deduction!
You could also get involved with crypto via ETF stock funds like BITO
I believe this is your safest place.
https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-do-i-buy-digital-currency
Good luck.
COIN
Yes, I assume so. I'm not sure how to import the symbols into Think or Swim, but Street smart edge saves the symbols in a folder in your App data, called "export for TOS"
I hardly use think or swim, so I'm not sure how to import, (I have been fiddling with it for a few minutes)
Wow, how astute of you! I would never have picked that up. Looks like when you click on it, it lets you save the file on your computer and I guess you can reload it into ThinkOrSwim when you open it there?
I just noticed in StreetSmart Edge (Schwab's Desktop trading platform) that you can export stocks in your watchlist to Think or Swim.
So I guess the time is getting close for the "real" change.
I have several TD ameritrade accounts, and many Schwab accounts lol. I'm going to have a ton of Schwab accounts now, which is good for the way I trade, but I hope they don't consolidate them on me. That's happened before
https://ih.advfn.com/stock-market/AMEX/spdr-s-p-500-SPY/options
You probably have to pay for real time. Doesn't your broker supply that info?
TD already are Schwab - since 2020. The full transition is happening this year and Schwab customers will then have access to Think or Swim. I am familiar with TD - used them years back.
Yahoo finance does
Try Fidelity
I would say try TD but they will eventually become Schwab
Toofuzzy
Does investors hub have stock quote for calls and puts?
I just have multiple browser windows open. I don't need to have them up and visible at all times.
It's going to be in the 70s all this week. Fidelity has my instructions and I'll be on the golf course or the driving range.
As with anything, the more you use it the better you get at it.
How can you run scans without multiple screens?
Before I retired we had moved to a new location and the cubes were high tech. They were all equipped with 2 monitors and the desk could be raised if you wanted to work standing up. Something I wasn't aware of until someone pointed out the switch after I saw him over my cube.
I never figured out how to configure both monitors and I was constantly losing my mouse between the 2 screens.
Now I am tech savvy since I can fix anything with my wife working from home; but she runs 2 monitors; the laptop and a screen but I need her help to get the mouse on the right screen to fix the problem.
I'd be a failure as a day trader.
How can you run scans without multiple screens?
I'm not the kind of person who needs multiple screens. Many people have trading desks that look like the control panel of a 777 passenger jet. I'm sure if I had all that, I would still lose money on bounce plays lol.
I guess they are all right for people who do small trades here and there. If you are an active trader doing multiple trades a day you need a desk top and multiple big screens.
OMG! First off, you are an addict! lmao Second, I don't know etoro but sofi is that bad? I'm shocked. Any reason you just don't stick to one or two brokerages? Are you not happy with any? I personally am using two - Etrade and Schwab (thanks to you). I love Schwab's customer service but their trading platform is not as good as Etrade's. If I could just combine Etrade's Pro with Schwabs customer service I would be very happy.
eToro.com broker and SOFI brokers are useless............
So in my continued experimenting with new online brokers, I decided to open up etoro.com and sofi.com brokerage accounts. They are both terrible. Don't bother trying them.
I opened them both a few weeks ago, and I have not placed one trade in either, simply because the number of stocks they have available for trading is so limited. Every single time I entered a NASDAQ stock it was not recognized..... every time. If you want to trade IBM, Microsoft, etc (very very well known companies) then fine, but otherwise avoid.
So I decided to withdraw the funds, but Etoro was not letting me withdraw the $15 in funds I deposited for experimenting.
I was told I cannot withdraw my $15 from etoro because there is a minimum of $30 you need in order to withdraw, so I have to actually deposit another $15 in order to withdraw the $30. Something to do with the fact that depositing/withdrawing funds is done with a debit card, rather than ACH deposit/withdrawals.
oh well, I had to experiment just to see what the latest online brokers are doing.
I was waiting for Happy Hour to send a private message.......It seems to be Happy Hour but nothing works for me that is a paid feature. Is there a problem today??
TurboTax. $79 (or so)
Satisfied customer.
Your mom is paying 1k for a basic return? No schedules attached? If that is the case she needs a new tax preparer or you should just do it for her. A basic return is quite easy to prepare nowadays with software. The program does everything for you. You just input the info.
Go to AARP tax site ( physical )
As long as you don't have depreciation ( rental property or business ) they will do your return for free.
I am a volunteer.
Toofuzzy
HAHAHAHA
That's funny! LOLOLOL
Actually, I misread my tax guys response to questioning the pricing.
He said "Our rates have been raised across the board for all services. Then went on to say, "unfortunately our salaries from last year are up an excess of 30%..."
(Unfortunately? I think he should be happy about that - not apologetic? ;)
My costs are actually jumping 42% according to my calculator
Flat fee's no hourly charges.
My moms, for example, is jumping from $700 to $1000. Basic return.
Summation? I'm being hosed.
If I paid you, watched, asked questions AND helped.... it would still be cheaper. ;)
How much more does it cost you to go to the local diner ?
Also fees based on complexity of the return.
Then there is my mechanics rate chart.
Hourly Rate $75
If you watch $100
If you ask questions $150
If you help $300
Toofuzzy
Correct. I did have that backwards. I realized that already but thank you! Sometimes I'm lacking brain cells.
My tax guy just raised my rates 30%
Has anyone else ran into that this year? Seems like a broad jump.
NOT ALWAYS
Toofuzzy
You have it backwards.
Losses first go against other capital gains.
You can take up to $3,000 in ADDITIONAL losses against other ( earned ) income.
If your losses still exceed that , you can carry the losses over to future years.
Not always
Toofuzzy
I really don't know much about investing in gold and silver without buying it via stocks. I guess you could go the bar or coin route?
Happy Holidays posters. Not sure that his is a valid question for this board; but here goes anyways.
I strongly believe Au and Ag are headed much higher (and soon), Without buying the actual metal
nor miner stocks, WHAT is a good way to participate if it is to happen?
And You summed it up so eloquently
lol you are not an idiot. It's a matter of semantics. You heard something and just misinterpreted it.
Yes! That is what you would have to do. Say we use that 17k carryover example. Next tax year you have a total of 27k in gains for that year. You take the 17k and use it against the 27k and only pay taxes on 10k. There is no 3k deduction because your bottom line of gains is over 3k. Take a look at the Sch D - look at lines 6 and 14. You enter the carryover amount after you calculate the gain/loss amount:
https://www.irs.gov/pub/irs-pdf/f1040sd.pdf
Ohh. Good find! That makes more sense to me.
Maybe I just misunderstood my guy?
Even what you posted said...
I don't think that is correct. I have never heard of that and if you can point me to a link that explains it I stand corrected. When you have a carryover it works the same way. You first calculate your gains/losses. Then you apply your carryover losses to the bottom line. Here is an example of how to apply a carryover - it does not say anywhere that you first apply 3k to ordinary income and then you figure what your gains/losses are:
An Example of Carrying Over Losses
Suppose the stock market has a bad year. You sell a stock or mutual fund and realize a $20,000 loss with no capital gains that year. First, you'll use $3,000 of the loss to offset your ordinary income. The remaining $17,000 will carry over to the following year.
Next year, if you have $5,000 of capital gains, you can use $5,000 of your remaining $17,000 loss carryover to offset it. You can use another $3,000 to deduct against ordinary income, which would leave you with $9,000.
The remaining $9,000 will then carry forward to the next tax year. Assuming that you had no capital gains in the following three years, you could use up the remaining $9,000 loss, $3,000 at a time, over those three years.
https://www.thebalancemoney.com/can-a-capital-loss-carryover-to-the-next-year-2388983
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