Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
JVDT jiggy on the back and forth, its going higher!
JVDT sitting quietly here, this has alot of upside, moves very very easily
DDN.V down large on what sounds like good news..i got some this coudl be a drop in error, not sure whats going on
JVDT down HUGE yesterday, very nice bounce, this moves very easily with any vol, tons of upside !!
JVDT, HUGE drop yesterday, had a very nice bounce, pulled back eod, this has tons of upside room here, nice little play
TNx Power! JVDT not done yet, may pullback, but too much upside, could continue up for some days.
CANUCKS, XLT.V down too much,could be a nice little bounce, try for the .015's
This is my last post of the day, my 15 free IHUB posts used up...dang i hate that!!
Watch USSE!!! this will have its move soon enough..got a few more nice ones getting ready..too bad i'm muted for the rest of the day...lata y'all
JVDT is about 20x better then PELE though..and its going higher..moves much easier, and had immediate bounce..keep ur yese on it, its got tons of upside
JVDT hit nhod .008 of huge drop, next leg here!!!
JVDT back to hod off of huge massive drop..next leg coming, this has tons of upside on it!!
USSE getting jiggy, also antoher that hit a new low recently on huge tank, subber getting ready for the upsdie, mentioned several times last week!!
JVDT bids buidling back up after pullback, ask getting hit,this is going higher!!
JVDT on pullback, huge upside
yes, JVDT im going to hold it for a few days
JVDT small pullback, moves very easily, and still down 94%!!! tons of upside here, this dropped too much in error imo, will continue its move up after some pullback
JVDT little pullback, moves easily..get those pullbacks!
JVDT climbing .005 x .006 and still down 95%, huge upside!!!!
JVDT yes down huge!!! its a low trader, too big of a drop, just started its bounce off lod of .001!! this has huge upside potential
JVDT! its down huge, just did a little bounce off of .001 lod..this has huge upside!!!
JVDT down HUGE!!!! hit .001 from .10..low trader, should move up decently from here
thanks 6 sense, well thats virutally impossible when ur a daytrading, i don't even know what type of company half the stock i buy is:)
but this issues seems to be relevant when trading trading stocks last month of the year, correct?
Question: re: SRL Superficial losses, (this may be a silly question), but do u guys abide by this rule when logging ur capital gains losses on these trades?
Does it pertain to daytrading a stock? If i buy and sell it the same day for a loss, can i claim it on that years taxes as a capital gains loss? Or would i only be able to apply to the next years taxes as a capital gains loss?
I need some expertise help on this to clarify exactly how to accurately report capital gains loss, and which trades should be logged as SRL trades. SRL losses can be used in the next year taxes, correct?
See this below for reference, TIA
Superficial loss defined
Superficial losses are defined by section 54 of the Canadian Income Tax Act (ITA). If a capital loss is realized in such a way that it falls under the definition in the ITA, the loss cannot be used in the year realized but, rather, it will be added to the adjusted cost base of the property to reduce future gains or increase future losses.
A capital loss will be defined as superficial if, during the thirty days on either side of the date of sale that triggered the loss, the taxpayer or an affiliated person (i.e. his/her spouse or a corporation controlled by the taxpayer or his/her spouse) purchased that same property, or one that is identical to that property. Also, if a “right to purchase” that same property is owned at the end of the period noted above, the loss will be deemed superficial.
In other words, during the thirty days before and after the sale date, no purchases can be made in the property to be sold or a property that is deemed to be “identical” by the taxpayer or a person affiliated with him/her. Hence, there is a sixty-one day period of which to be aware. Further, neither the taxpayer nor an affiliated person can own a call option on that same property at the end of the sixty-one day period.
Identical property
The definition mentions that buying “identical property” during a certain period can also render a capital loss superficial. Canada Customs and Revenue Agency (CCRA – formerly Revenue Canada) outlines its official position in interpretation bulletin <a href=”http://www.ccra-adrc.gc.ca/E/pub/tp/i387r2et/i387r2e.txt.html”>IT387R2 – Meaning of Identical Properties</a>. Very basically, it states that identical properties are properties, which are the same in all material respects, so that a prospective buyer would not have a preference for one as opposed to another. To determine whether properties are identical, it is necessary to compare the inherent qualities or elements, which give each property its identity.
It becomes very clear that the application of this rule is open to interpretation, but IT387R2 and an example may help.
Avoiding superficial losses
Rob purchased CI Global Telecommunications Sector fund a little over a year ago at about $53. On November 1, 2001, he decided to “average down” his cost and bought more units at $17. While the fund recently recovered to $19 this week, the overall decline has been painful for Rob to watch. He doesn’t hold any hope for this fund in the short term and wants to trigger his loss before year’s end so he can save some taxes on other gains.
To avoid having his capital loss classified as superficial, Rob will have to wait until December 2 to sell his fund to trigger the loss. To make sure he will be able to use that loss this year, he can buy back the same fund no earlier than January 2, 2002.
Rob must wait until December 2 of this year to sell his fund because he just bought more units on November 1. Since the superficial loss rules say that no purchases can occur in the thirty days prior to the date of sale that triggers the loss, Rob must make sure a full thirty days passes before he sells. On the other side, he must also make sure to wait an additional thirty days before buying back into the same fund. If he adheres to these rules, he will be able to use the loss to offset other gains this year, or carry back to previous years.
Keeping desired exposure
We know that by following the timeline above, Rob can avoid the superficial loss, thereby maintaining full use and flexibility of his capital loss. Suppose instead that Rob wanted to trigger the loss, but feared missing out on a big run during the thirty days he had to be completely out of that fund? Can he trigger the loss, stay out of that fund, or an “identical one”, altogether and still catch an upturn in the telecom sector? Yes.
When Rob first sells his fund, he can simply switch to a similar, though not identical, fund offering the same exposure. There are a number of funds from which to choose, such as AIM Global Telecommunications Class, Fidelity Focus Telecommunications, and Franklin World Telecom. Frankly, it doesn’t even matter much which fund is chosen if the goal is to eventually return to the original CI fund. One final note on Rob’s situation, since this particular fund is in a corporate class fund structure (CI Sector Fund Ltd.): simply switching to another class under the same “corporate umbrella” will not trigger the loss. Rob must exit the corporate class structure completely to realize his loss.
A matter of style
If holding a sector fund, such as the telecom fund above, it’s fairly easy to switch to another fund offering similar exposure. However, what if the fund in question is instead a broad based equity fund with distinctive style characteristics? Then it becomes a bit tougher.
Jan wants to sell her Synergy Canadian Momentum Class fund, which has lost more than 30 per cent over the past year. This fund invests in larger Canadian companies using an earnings momentum style. Jan can realize her loss by selling this fund and buying either the AIM Canadian Premier Class or the CI Landmark Canadian. Both follow a very similar style that would allow her to maintain the same style and asset class exposure while still realizing the capital loss.
IDOI, i tried to buy it under .001 when i first so it go under, but of course TDW restricted it on us, they are really starting to get on my nerves, so far 80% of the stocks they restricted that i tried to buy went up..thanks TDW..i thought they were supposed to want u to make profits.
USSE ...keep ur eyes on it..down large..will be another subber to go! :)
6 Sense, i cant pm..not a paid memeber
this is my 15th post and therefore last post of the day..have a great weekend all!
CGFIA, crap, TDW just calls me to tell me that my buy trade at .021 was busted...wtf! a-holes..thnaks jerks
SYMW very nice, dang it i kept thinking to buy this earlier this week..crap!..it looks like its going hihger
CGFIA nice pullback, could be decent bounce here
thnx 6 sense:)
PSPM continues off big fast drop, nice!
SYMW very nice
STREET, u watching USSE, someone taking in shares at .0007, low was hit yesterday at .0006, possible mover to the upside eventually
Nice, i got some .25 and .26 missed the .24..oh well, should still go up
PSPM bouncing!
PSPM starting to bounce of lod
PSPM down huge hit lod of .24 support zone, might boucne here
PSPM down huge!
USSE looks like bottom might be in here, hit a new low of .0006 yesterday, been tanking last few days very hard, someone taking in shares at .0007, this has potential for a great move off bottom
USSE, hit a new low yesterday of .0006, today, someone taking in the .0007's, this has dropped hard last little while...has potential for big move..keep it on watch
USSE holding .0007 x .0009 down large last while...should have a buonce soon
No, there are just a ton of different glitches i have to deal with, its making me crazy, right now im blind because i my custom alerts window is not working and i rely heavily on it, i have daily issues with my alerts and my streaming filters..too many..very very frustrating, and i talk weekly with equityfeed about them, and they still cant resolve them...i feel like throwing in the towel with them sometimes
USSE now .0008 x .0009, been down large last while, new low hit today
Omg, equityfeed, cant deal with these constant problems everyday...kills me