The money I had left from penny gambling was just sitting there, and your post reminded me of it, so I put it in ARKK. I’m now heavily invested psychologically
This hearing is painful. Some congressman had to ask "so why can't Robinhood customers buy Robinhood stock?" Uhhh, cause they aren't publicly traded guy?? Then a regulator had to explain to him what an accredited investor is
Was supposed to get married last year so fiancée and I both had plans to backdoor Roth. We postponed the wedding so she assumed that meant we’d be fine for the Roth limits. She didn’t factor in the substantial moving expenses paid by our company that would hit her W2 and went ahead and maxed out her Roth. Now I’m dealing with excess contributions and having to correct this while I work on her taxes. This shit is an absolute nightmare
I overfunded my HSA and spent about 4 hours getting it corrected, hopefully yours will be as easy or easier.
This is what happens when you elect stupid people instead of experts and then actual experts sometimes get elected and can’t get on committees. This is why our country sucks
Finally found it on Fidelity and seems simple enough to process online. Best part of all this is I’ve gone through the steps of the IRS calculation of net income that Fidelity will use and we’re talking around $200 since she contributed just in December. These are a lot of hoops to go through just to end up at a $20 tax penalty
yes, people will continue to increase their risk profiles in a zero interest climate. especially when the fed prints 120B per month
We also over contributed, per a couple run throughs of TurboTax - though I need to complete some further reviews of the exact manner of the contributions. If so, we might owe standard taxes on some of the contributions. I wonder what the benefit might afford if we hire a professional. Probably better to just pay the tax on them.
All I told him is to understand what he is buying, if he wants to increase his risk profile thats fine that is his call. He should understand he is putting a majority of his position in an ETF filled with overpriced growth stocks and even that isn't infallible in this market. If yields continue to rise that will put pressure on a lot of these growth stock valuations. Edit: This doesn't include things like stimulus falling through, inflation showing up this year, etc. invest in what you want but understand if one has a higher chance of falling 50% over another.
It’s a huge pain reading through all this that’s for sure. I think you might be looking at the same 10% penalty on the earnings from your IRA during the period that the excess contribution was in the account but hard to say without knowing your situation. Luckily, I’m a tax guy and CPA so I’m fairly comfortable getting into all this shit if you want to PM at all, I can share my side and understanding of everything (which isn’t perfect, full disclosure)
Look I think we are both bullish and ARKK very well could be 300 by then but saying the Fed is buying 80B a month in treasuries and that’s why is only looking at one variable. What is treasury issuance? Till like a week ago they were going to force feed the market 800B in treasury issuance this quarter. What would yields do then? Now they’ve decided to draw down the TGA instead and that will increase liquidity. But don’t be surprised if Jerome and Co. try to see what the market will take on its own in the future so it all doesn’t end up on their balance sheet. Which they will do till something in the market breaks, see Q4 2018. What got hammered most then? Tech. This doesn’t include risks like inflation showing up or republicans blocking stimulus.
Thanks man. I might ping you depending on the answer to the question I sent into my bank. Currently day 8 of awaiting their reply. Appreciate the offer either way.
Hi I know nothing about this but see that ARKK is currently $150. 300 is more money than that and I like money. Can you clarify why this will grow or point me toward that part of the discussion?
In the process of completing my tax return and am now realizing that I made the mistake of changing my filing status (single to married), but not including my wife’s income to determine how much extra our employer should hold. Our employers began holding 50% less than what they had been. My dumbass thought it was a “tax benefit” for being married. Went from historically getting some money back from Uncle Sam to now cutting a substantial check to send their way.
I’m wrong about a lot of things but I feel pretty confident that the fed buying program will last at least into the end of Q2.
That sucks. Protip: Run through this in Q1 each year, then again in Q2/Q3 including any changes to see if you're on target for as close to break even as possible with your return: https://www.irs.gov/individuals/tax-withholding-estimator
It’s amazing to me how much fear outsells optimism. Lazy fearful arguments are given the highest priority. Why, bc it scares people. bulls get treated like retarded golden retrievers, as they continually win.
I am shorting the absolute tits off $NRG tomorrow. One of the most exposed energy retailers in Texas. It just added ~750,000 new customers in Texas in January via an acquisition of Direct Energy for $3.6b in cash. These new customers came with 0 power generation capabilities as Direct Energy was a buyer of power from other generators. I think NRG was left holding all sorts of $9,000 MWh bags this week. They report 4q earnings on Thursday. If they revise guidance they’ll get hammered
Notice the difference in Vistra’s (TXU) response and NRG’s with respect to energy price hedges and power generation. One sounds well prepared and the other was basically a no comment.
I'm so boring. Transferred an extra 1k and was hunting around for penny stocks but ended up just doing this Order date Status Symbol Transaction type Quantity Order type 02/19/2021 In Progress VTSAX Buy $750 02/19/2021 In Progress VTIAX Buy $250
The congressman calling the RH help line and going straight to voicemail on camera was the best part of yesterday.
Ok I just bought: 100 2/26 $37 puts for $0.65 each; and 75 2/5 $37 puts for $0.90 each Would absolutely love some news either after the bell today or before open on Monday that $NRG has drawn down their credit lines
Question: Fidelity has marked one of my stocks as a wash sale. However, I haven’t sold a single share. I bought some of the stock Tuesday and bought more of it today. How is that a wash sale?
Maybe they’re doing it as a warning? Although, I did not see it when I bought NOK in separate lots; it showed up for me when I actually sold and had a wash impact
just passed this point in the hearing. roughly 4h 10m in, ~2 hours to go. Casten's questions and time were great.
Good lord. If you didn't get it resolved, might be better off sending a message since it isn't pressing. I know the backup at TD has been insane from some friends that work there.
I finally spoke to someone after being on hold two hours and six minutes. My stock had a reverse split, and without notifying me in any way, Fidelity sold a fractional share (even though I’ve never even purchased a fractional share) but everything else remained. It doesn’t even show up on my history, which is so stupid. The guy said he’d been working there a few years now and had never seen it.
Im pretty sure if there’s “extra shares” left over from the split, those shares can’t be held so there’s no choice but for them to just pay you out for the difference. At least that’s how it’s worked on the couple of stocks I had that went through a reverse split.
Both times it’s happened to me the only reason I know is I see the amount of shares I own changed. Then a couple days later once the sale settles I’ll see some type of “reverse split fractional share” on my history. This is at TDA.
Vistra (TXU) usually generates around 18% of the power in Texas. On Sunday and Monday they were at 25-30%. NRG held so many fucking $9,000 MWh bags on Sunday and Monday it’s not even funny TXU was the largest energy retailer in Texas when they went chapter 11 in 2014.