ERBtheGREAT Posted January 8, 2022 Report Share Posted January 8, 2022 I accidentally did a wash sale. 7511.83 loss was disallowed. Now am I screwed or did that just get added to my cost basis of the same security? As long as I sell eventually will it just even out? I was up 40 hours snow plowing and was not thinking clearly. As always, thanks TGF for your supreme financial advice. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted January 8, 2022 Report Share Posted January 8, 2022 yes it gets added to the cost basis and will even out, the tax benefit is never just lost forever Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted January 8, 2022 Author Report Share Posted January 8, 2022 3 hours ago, milwaukee mike said: yes it gets added to the cost basis and will even out, the tax benefit is never just lost forever Good to know, thanks. I was worried and not totally sure. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted January 8, 2022 Report Share Posted January 8, 2022 Fortunately we have a few CPAs that offer their advice, MMike being among them... Quote Link to comment Share on other sites More sharing options...
brokerstip Posted January 9, 2022 Report Share Posted January 9, 2022 16 hours ago, milwaukee mike said: yes it gets added to the cost basis and will even out, the tax benefit is never just lost forever correct. Never lose it, just have to wait until you sell again Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted January 9, 2022 Author Report Share Posted January 9, 2022 Gobbled up around 4500 shares of dkng at 23.40, hopefully New York explodes this weekend Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted January 9, 2022 Report Share Posted January 9, 2022 7 hours ago, ERBtheGREAT said: Gobbled up around 4500 shares of dkng at 23.40, hopefully New York explodes this weekend 51% tax on sports betting in New York as compared to an average of 20ish % in other states. Draft Kings and the others will break even on New York wagers after accounting for new player acquisition costs. Quote Link to comment Share on other sites More sharing options...
ERBtheGREAT Posted January 9, 2022 Author Report Share Posted January 9, 2022 1 hour ago, Jimmy Hoffa said: 51% tax on sports betting in New York as compared to an average of 20ish % in other states. Draft Kings and the others will break even on New York wagers after accounting for new player acquisition costs. Just looking for a nice swing trade at the moment, we’ll see Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted January 9, 2022 Report Share Posted January 9, 2022 12 minutes ago, ERBtheGREAT said: Just looking for a nice swing trade at the moment, we’ll see Catch the bump, then execute the dump... Quote Link to comment Share on other sites More sharing options...
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