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Post by jonny80s on Dec 5, 2017 18:05:37 GMT -5
Anyone planning on taking any tax losses.... knowing you won't be able to buy any more for a month?
I'm debating it. I have 3 lots with massive losses.
The pay off for this(mnkd), if there ever is one, is still a long way away. Plenty of time to get back in at a later date. Especially after the upcoming dilution.
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Post by sportsrancho on Dec 5, 2017 18:15:36 GMT -5
Anyone planning on taking any tax losses.... knowing you won't be able to buy any more for a month? I'm debating it. I have 3 lots with massive losses. The pay off for this(mnkd), if there ever is one, is still a long way away. Plenty of time to get back in at a later date. Especially after the upcoming dilution. I hopefully will need my tax losses more next year to off-set gain than I do this year..so no:-)
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Post by kball on Dec 5, 2017 20:38:29 GMT -5
Did this last year. Never got back in
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Post by boca1girl on Dec 5, 2017 22:38:11 GMT -5
I sold all my shares wih a cost basis $25 and above in my taxable account. I plan to replace those shares at the 31 day mark. At least one anylast believes the stock will be at $10 by year end. Who knows...
I sold only only because I had gains to offset, otherwise I would have just held on.
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Post by buyitonsale on Dec 5, 2017 23:32:36 GMT -5
One can always buy first, even on margin, and then sell same amount of FIFO shares at a loss to offset other gains, thus keeping same amount of shares invested
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Deleted
Deleted Member
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tax loss
Dec 6, 2017 1:57:28 GMT -5
via mobile
Post by Deleted on Dec 6, 2017 1:57:28 GMT -5
It would be safe to assume that after approval of increased shares, price will drop. If you have gains to offset, selling makes sense. I don't believe we can see shares hitting double digits for some time.
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Post by babaoriley on Dec 6, 2017 2:06:40 GMT -5
It would be safe to assume that after approval of increased shares, price will drop. If you have gains to offset, selling makes sense. I don't believe we can see shares hitting double digits for some time. While the price may drop at any time for any reason, it would not be safe to so assume that the price will drop if the new shares are authorized. I believe the market has already factored in the adjustment for the soon to be authorized shares, as the authorization is very likely. On the other hand, I can't argue with your last stated belief, only Michael Kovacocy, or however he spells his last name, or his followers would argue with you there!
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Deleted
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tax loss
Dec 6, 2017 2:09:41 GMT -5
via mobile
Post by Deleted on Dec 6, 2017 2:09:41 GMT -5
"it would not be safe to so assume that the price will drop if the new shares are authorized. I believe the market has already factored in the adjustment for the soon to be authorized shares, as the authorization is very likely."
From your keystrokes to the wizards of Wall Street.
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Post by babaoriley on Dec 6, 2017 2:23:51 GMT -5
"it would not be safe to so assume that the price will drop if the new shares are authorized. I believe the market has already factored in the adjustment for the soon to be authorized shares, as the authorization is very likely." From your keystrokes to the wizards of Wall Street. Here's the bottom line, Kastanes, it's never safe to assume anything about short-term MNKD share price movement.
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Post by me on Dec 6, 2017 8:15:25 GMT -5
One can always buy first, even on margin, and then sell same amount of FIFO shares at a loss to offset other gains, thus keeping same amount of shares invested But if you're doing this to record a loss on your FI shares, just make sure that when you decide to sell the first in shares at a loss, that it is 31 days or later after your buy. Otherwise, the loss will be disallowed. A lot of investors focus on the 30-day rule only in the context of selling first and re-buying, but it also applies to buying first (last in) and then selling the first in shares - your loss will still be disallowed.
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Post by matt on Dec 6, 2017 8:59:11 GMT -5
I am not sure what the status is at the moment, but I recall reading that the Senate version of the tax bill changes the rules for recognition of gains and losses on securities held for investment. At present you can identify particular share certificates, particular share lots, LIFO, FIFO, or the average cost method. The proposed rule makes FIFO mandatory for both gains and losses. If you have large unrealized gains or losses you might want to crank through the math to see how the law change would apply to you if you don't take action before December 31. The proposed law retains the 30-day wash sale rule so be aware of that as well.
Note that this was proposed law in one version of the tax bill, but I believe this change made it into the final version. If you have many layers of investments at many different price points, you might want to do a bit more homework, and do so very soon as Congress has a nasty habit of making committee modifications retroactive to the effective date (i.e. the date the bill is signed or is referred to the president for signature). In other words, you may have just a few days to act instead of until December 31.
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Post by jonny80s on Dec 6, 2017 12:56:50 GMT -5
So if I bought a small lot last week. That lot will offset the lots that I'm selling this week as a wash?
That sucks. I thought it was only post sale that you had to worry about the 30 day rule.
For instance I bought 50 shares last week with my fidelity rewards points, I do this every 2 months. Those 50 shares will create a wash with 50 of the shares I just sold???
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Post by alethea on Dec 6, 2017 13:01:44 GMT -5
So if I bought a small lot last week. That lot will offset the lots that I'm selling this week as a wash? That sucks. I thought it was only post sale that you had to worry about the 30 day rule. For instance I bought 50 shares last week with my fidelity rewards points, I do this every 2 months. Those 50 shares will create a wash with 50 of the shares I just sold??? Yes. The 30 day wash sale rule applies both before and after a loss sale. Effectively a 60 day period when a purchase "cancels/offsets" a sale at a loss for income tax purposes.
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Post by jonny80s on Dec 6, 2017 13:07:07 GMT -5
Boo, well it was only 50 shares of offset. Still over 20K in losses. Hopefully there will be 20K in lt gains in the next 24 months.
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Post by jonny80s on Dec 6, 2017 13:07:19 GMT -5
Live and learn.
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