Taxes

happy_sad
happy_sad

If I file my taxes this year without mentioning any of my stock market activities, could I get in trouble with the IRS?
I lost 1,000 USD on TD Ameritrade trying to continuously short everything this year, that's it.

[spoiler] I'm filing with my now-wife and I told her I didn't trade in 2016 so she will kill me if she finds out ¯\_(ツ)_/¯ [/spoiler]
[spoiler] don't worry she knows I trade now, but 2016 is forever a secret [/spoiler]

5mileys
5mileys

Thanks for the working spoiler tags on this board

Inmate
Inmate

Uh, your trades are submitted to the Feds via 1099-B, per SEC regs.
So yeah, they already know.

Gigastrength
Gigastrength

I know, so will they really care if I don't mention the 1000 loss?

Techpill
Techpill

Stock losses are tax deductible up to $3,000 and it carries over to the next year so who cares? You technically didn't lose anything unless you don't even pay taxes.

Carnalpleasure
Carnalpleasure

You literally didn't profit from any single trade, or you made a net loss total?

Emberburn
Emberburn

I just don't want the IRS sending me a letter telling me "by the way fucker you didn't report your trades" or something.

I know the IRS will correct your tax returns for you and make you pay if you underreport your gains for the year, but I assume they won't go out of their way to pay me back on stock losses that I don't report? Would be nice, but.

Evilember
Evilember

Net loss. I probably made 200 and lost 1200

RavySnake
RavySnake

Same boat minus being a married cuck i lost 1k on various trades can't you just deduct the 1k why would you have to pay taxes on a loss are you retarded

RumChicken
RumChicken

why would you have to pay taxes on a loss are you retarded
I guess not, Bernie Sanders didn't win.

ZeroReborn
ZeroReborn

I never said anything about that. All I asked was if the IRS will say something or maybe make me pay some sort of fine if I don't report my stock trades for the year (not paying taxes, paying a fine)

FastChef
FastChef

I don't get why you wouldn't want a better return by reporting a loss

JunkTop
JunkTop

Read my OP again

BunnyJinx
BunnyJinx

If his wife finds out he was already in the habit of throwing money away, she won't let him do any more of it.
This way he can claim his future losses are just bad luck, and hopefully keep things going longer.

whereismyname
whereismyname

Lol

Nojokur
Nojokur

Your wife knows you're a shitty trader. Maybe you should listen to her

Illusionz
Illusionz

dont file jointly? tell her your friend told her its better if you file separately?

Spazyfool
Spazyfool

Get control of your women, cucks. What is this, United States of Hillary where pussy grab you?

absolutely terrible

Dreamworx
Dreamworx

I was trying some new strategies last year, then realized I wasn't a pro mvp market shorter extraordinaire, so I don't think we'll see a repeat of 2016 for a while. I already cut out the habit myself

At least im not 2016 soros

Here's your (you)

Fried_Sushi
Fried_Sushi

I'll get right on that.
Oh wait, I just remembered I'm not married and you don't know what the fuck you're talking about.

SomethingNew
SomethingNew

I assume they won't go out of their way to pay me back on stock losses that I don't report?
this is correct.

the IRS doesn't care if you give them money. They only object when you try to take money.

if you want you could ignore the loss for 2016 and later recapture the savings from it.

Inmate
Inmate

later recapture the savings from it.
Yeah, I can't remember the time limit on filing amended returns, but it's definitely a few years.

hairygrape
hairygrape

What made you think they'd work?

Techpill
Techpill

yes
because companies submit their copy and then compare it to your taxes

Methshot
Methshot

Why is a grown ass man trying to hide his own goddamn business from his wife? Doesn't this sort of retarded shit only happen in American "reality" tv?

TreeEater
TreeEater

90% sure you have to declare your stocks on a return. Even when you lost money.

But just call a CPA and ask them.

PackManBrainlure
PackManBrainlure

You would be shocked at how many cuck husbands there are in the USA.

I have 3 brothers. 2 are in cuck marriages, one just a little bit, but the other has his balls in a salad shooter.

I want to slap both of them. How can you be a man over 25 and not understand that women are to be treated like children?

Skullbone
Skullbone

First, you would be dumb to not report them, as the 1000 you lost is deductible from your taxable income.

Second, yes, TD as every US company, must report to the IRS someone could find out. Chances are pretty good if you are under 60k a year taxable income, you wont get audited. However if you pop a red flag and are randomly selected for audit, they go back 7 years minimum (have you always done your taxes PERFECTLY?) and the penalty is a 500 minimum fine per filing year discrepancies

Burnblaze
Burnblaze

Are you kidding me? 80% of "modern" couples have separate bank accounts.

Want to bet a very good chunk of those 80% are less than truthful with each other? Be realistic

Evilember
Evilember

Shocking you arent married

TalkBomber
TalkBomber

Can't you just ask your wife for her tax documents and fill everything out yourself? Is she actually going to look over the tax return? My wife is thrilled to have absolutely no part in filing our taxes.

BlogWobbles
BlogWobbles

Not him, but it marriage means having to hide in your own home and bend to the will of a chicka then I'd rather stay single.

Just fuck hoes and make money. Marriage is a bad idea in no fault states/Canada.

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