Originally Posted by Rain Man:
Definitely hold it for a year to minimize taxes, as Hammock said.
Originally Posted by rydogg58:
Stocks held less than a year will be subject to a capital gains tax. That tax is calculated based on your income tax bracket. If you sold it after a year, that tax rate is going to be lower.
In the end it comes down to what your investment goals were for that stock. Profit is profit, and you can never go wrong taking it.
Great answers. I think I'll wait for the full year and take the chances. It's a pretty decent tax difference, and I have confidence in the portfolio moving forward. Almost tempting to hold longer. [Reply]
Originally Posted by Rain Man:
If Pfe really has a 90% vaccine, the cruise lines will be back in business strong. I think some of them have lost capacity by scuttling some of their older ships, so it'll be a while before their stock gets back to breakeven on my purchase prices, but I'm tempted to buy more this week when we see a little pullback from today's exuberance.
yeah, until everyone gets polio from the "vaccine"... [Reply]
Originally Posted by BigBeauford:
So I'm still new to this whole shebang and wanted advice:
March 23rd I put a bunch of money into stocks. I'm up over 100% of that initial investment. Do I need to wait until March 24th 2021 to withdraw to avoid recording the gains as part of my standard taxable income? Or do I just need to wait for Jan 1st 2021? Or does any of this matter and I could cash out today. Thanks yall!
Originally Posted by BigBeauford:
Great answers. I think I'll wait for the full year and take the chances. It's a pretty decent tax difference, and I have confidence in the portfolio moving forward. Almost tempting to hold longer.
It depends on what your ordinary income is taxed at. The difference between short term and long term gain taxes is usually not a lot. Regardless of the gain type those forms are a pain in the cock to fill out regardless of which type of gain.
Here’s my recommendation. If your plan was to get it out, and you’re at 100% profit I’d get some out for sure. Easiest way is to get your initial investment amount out. Then you can roll with the profits. It’s unlikely you’d let the thing get to 0 so you’d be locking in a profit. There are other things you can do, like various kinds of stops and whatnot, which might yield better in a down turn, but those take some knowledge and management that you may not be comfortable with.
If your goal was to get it out, I’d definitely do some, anyway. [Reply]
Originally Posted by RunKC:
Feel like I need to buy an airline stock and just let it sit. Seems like a slam dunk that it will come back
Yeah, I've been thinking similarly. I think the cruise lines and airlines have the biggest upside potential but also the biggest risk. I've bought a little more of those, but I had a fair amount in them anyway and lack bravery to do a lot more.
I've been buying little bits of the major hotel chains that I'm pretty sure will survive, as well as casinos. Even if their upside is a bit lower, I figure they're likely to have faster recoveries and I worry less about a bankruptcy to kill all my investment. I don't know if I'm right about that or not, but it's the way I've been moving.
Having said that, I'm not doing anything bold, just adding tiny additional amounts. I'm in a phase of life where I need a home run less than I want to avoid getting beaned in the face by a bad decision. [Reply]
Originally Posted by Hog's Gone Fishin:
Me also, i've moved a lot into the EV stocks. They started the day strong but then fizzled. And Netflix was a big loser for me today.
Netflix had a bad earnings call a week or so ago didnt they [Reply]
Originally Posted by Hog's Gone Fishin:
Not sure about that. Todays tank was due to the vaccine that will turn everybody into zombies that are unable to watch TV.
I had to look it up. Their earnings were off quite a bit.