Stocks - Today is last day for Tax loss selling

[sri_india]

today is lost day to claim you losses in stocks for year 2020 , anything you sell tomorrow go to next year cycle ..... so act fast if you are planning to cover ... don't wait until Friday / Dec 31

[chapstick]

How do we know bro .. enta tax pay cheyali ani.. ? Pls share some details how this tax work..

[Vaampire]

1 minute ago, chapstick said:

How do we know bro .. enta tax pay cheyali ani.. ? Pls share some details how this tax work..

Check realized profit/loss in ur trading account.

 

loss lo vunnav antey year ki 3k claim chesukovachu.

profits lo untey long term vaatiki 10%, short term(1 yr kantey thakkuva hold chesi untey) 30-40% tax

[Vaampire]

@sri_india tomorrow di enduku next year ki velthadi?

[sri_india]

Just now, Vaampire said:

@sri_india tomorrow di enduku next year ki velthadi?

that is every year rule kadha bro .... last 2 days dhi next year for book adjustments /  settlements

 

For both Canada and the US, the last day for tax-loss selling in 2020 is December 29. Stocks purchased or sold after this date will be settled in 2021, so any capital gains or losses will apply to the 2021 tax year

[Vaampire]

Just now, sri_india said:

that is every year rule kadha bro .... last 2 days dhi next year for book adjustments /  settlements

 

For both Canada and the US, the last day for tax-loss selling in 2020 is December 29. Stocks purchased or sold after this date will be settled in 2021, so any capital gains or losses will apply to the 2021 tax year

All these years i was under the impression that dec 30 is last date.

[chapstick]

7 minutes ago, Vaampire said:

Check realized profit/loss in ur trading account.

 

loss lo vunnav antey year ki 3k claim chesukovachu.

profits lo untey long term vaatiki 10%, short term(1 yr kantey thakkuva hold chesi untey) 30-40% tax

Enta loss ki 3k ostay ? Let’s say 1k loss ..

[AndhraneedSCS]

I did not know this until now. 

 

ee rakta patam ee roju tho aypotunda ayithe... cool. 

 

 

[Vaampire]

Just now, chapstick said:

Enta loss ki 3k ostay ? Let’s say 1k loss ..

3k raavu eppatiki. Deductions lo max 3k loss choopinchukovachu. 1k loss untey 1k ney claim chesukovali tax deductions lo.

 

100k loss untey every year 3k claim chesukovachu for next 33 yrs

[Coolie123]

Already 3k loss vuntay, so no need to sell kadha?

[chapstick]

5 minutes ago, Vaampire said:

3k raavu eppatiki. Deductions lo max 3k loss choopinchukovachu. 1k loss untey 1k ney claim chesukovali tax deductions lo.

 

100k loss untey every year 3k claim chesukovachu for next 33 yrs

Got it .. 

[AndhraneedSCS]

12 minutes ago, chapstick said:

Enta loss ki 3k ostay ? Let’s say 1k loss ..

If you have 1K loss, your taxable income will decrease by 1K.

 

If you have 5K loss, your taxable income will decrease by 3K (and you can use the remaining 2K next year) 

 

If you have 10K loss, your taxable income will decrease by 3K ( rollover 3K to 2021, 3K to 2022, 1K to 2023) ..

You can use it up over the rest of life if you continue to be in losses. If you have profits, you can offset all your carried over losses and pay taxes only for remaining profits 

 

 

[sri_india]

4 minutes ago, Coolie123 said:

Already 3k loss vuntay, so no need to sell kadha?

  nee total profits - total losses  chudu .... neeku emina profits ee year ki untee , you can still sell your lossed stocks to reduce your tax burden .... but no profits and already 3K losses untee ee year ki emi cheyalevu .....

[Spartan]

No loss this year . 

[Killer66]

Robinhood lo profit/ loss chesheydi yela