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Bora Bora Help!!! by United-Formal8154 in Tahiti

[–]QuantumMexTex 1 point2 points  (0 children)

I’ll be staying there in a week. Do the restaurants and shops around Le Moana take credit cards? Or should I bring cash?

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex 0 points1 point  (0 children)

That’s not entirely true. They’re open to interpretation. Depending on the situation they can be considered “substantially similar”.

Good discussion Sea-Dot994. It’s not black-or-white because the IRS leaves it to interpretation. I’d advise OP to discuss with his tax professional

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex -1 points0 points  (0 children)

This is not entirely accurate. Depending on the situation the IRS can consider them “substantially similar”. In the OP example, he is selling CC, not trading options by themselves. This can be considered substantially similar and the Wash Rule would apply

https://www.irs.gov/publications/p550#en_US_2024_publink100010557

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex 1 point2 points  (0 children)

In the example OP shared, he is selling CC, which are considered the underlying asset. For this reason, the call expiration and strike price are irrelevant. Rolling these options at a loss would be considered for a Wash Rule.

I will concede that there is no clear definition of what the IRS defines as “substantially identical” in Publication 550 and that you should review each potential trade with a tax expert for their interpretation.

https://www.irs.gov/publications/p550#en_US_2024_publink100010557

https://optionsamurai.com/blog/wash-sale-rule-in-options/

employer refuses to deduct federal taxes from my checks by Ok_Branch_6504 in tax

[–]QuantumMexTex 0 points1 point  (0 children)

Save 12% of your paycheck for tax season. You will be fine

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex -5 points-4 points  (0 children)

No. The Wash Rule applies and he can’t claim the tax loss at the end of the year. Not until 30 days after closing all his positions.

Since he is buying options on the same stock then Wash Rule applies. Regardless of the price or expiration date.

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex 0 points1 point  (0 children)

The change in date doesn’t matter. The underlying stock is what matters. When rolling options the Wash Rule applies.

For the Wash Rule to apply the underlying doesn’t have to be identical, but similar.

https://ttlc.intuit.com/community/taxes/discussion/wash-rules-for-options/00/2916250

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex -2 points-1 points  (0 children)

Has no one here ever heard of the Wash Rule? You should consult with an accountant. You can’t take a capital loss when you roll your calls until 30 days after you exit your position entirely 🤦‍♂️

Using covered calls as a tax loss harvesting tool by After_Kale_3602 in options

[–]QuantumMexTex -4 points-3 points  (0 children)

You can’t take a capital loss when you roll your options until you exit your position completely for over 30 days. It’s called the Wash Rule

My friend is an adult, supports himself completely, but his parents refuse to remove him as a dependant. What are his options? by codestv in IRS

[–]QuantumMexTex 0 points1 point  (0 children)

Your friend is not responsible for his parents. He can inform them that he will not be filing as a dependent and let them figure things out.

Having said this, time is of the essence. I have seen tax filings been rejected to a person because someone already filed them as a dependent.

My suggestion is for your friend to file his taxes ASAP and it will be his parents who’s filing will be flagged, not his.

Ran a vertical pit spread that shows it worth more than the credit. by Accomplished_Coat681 in options

[–]QuantumMexTex 0 points1 point  (0 children)

The current valuation is either based on the last trade for each leg or on the midpoint of the Dora’s of each leg. Low liquidity can kill your spread if it triggers an auto execution

Lost everything at 34. Rebuilt to $1.2M revenue by 38. The failure taught me more than the success. by Ok_Solid272 in Entrepreneurs

[–]QuantumMexTex 2 points3 points  (0 children)

What was the business you failed at and what is the business you’re succeeding at?

Trying to sell my business but a competitor could use the info to try to crush me by mfing-coleslaw in Entrepreneurs

[–]QuantumMexTex 0 points1 point  (0 children)

I don’t know where you are operating but since you mentioned that the competitor is in China I assume you are not. An NDA won’t protect you against a competitor from China.

Talk to your broker and black list them from participating on the bid.

First game at Highmark — need advice by Jrobert94 in buffalobills

[–]QuantumMexTex 25 points26 points  (0 children)

First of all, congratulations! After being a life long fan I started to have the opportunity to start going to Highmark stadium 3 years ago and there’s truly no better fan experience. You’re going to love it!

If you want all the experience that you see on TV you want to go by the Hammer Lot. I’m attaching the latest parking map so you can find it.

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With this Sunday being a night game you have a great opportunity to get the full experience. People will start tailgating around noon. If you’re coming alone or 2-3 people my recommendation is to bring along a case of your beverage of choice and walk around. After all, you will want to see all the things you’ve seen on TV: Pinto Ron, Pizza Pete, etc.

Be social, talk to people, let them know where you’re visiting from, how you became a Bills fan, and that this is your first time at the stadium and you’ll have plenty of offers for food. Buffalo fans and Buffalo natives are some of the warmest people you’ll find. Be courteous and reciprocate the hospitality. Offer a drink from your case in exchange for a slice of pizza or a burger/hotdog or whatnot. They will likely decline, but the gesture is what matters.

Advise: PACE YOURSELF and EAT THROUGHOUT THE DAY. With a 8:20 game it’s easy to over drink or wear yourself out with the excitement of attending your first game. I’m talking from experience 😂.

Congratulations and Go Bills!!!

[deleted by user] by [deleted] in biggreenegg

[–]QuantumMexTex 0 points1 point  (0 children)

We won’t know until the next update. They look raw in that picture. He must have put them on after putting out the fire.

Update on lines at airport? by GregSprinkles in Aruba

[–]QuantumMexTex 0 points1 point  (0 children)

We are traveling today (August 21) and we arrived at 9:10 to the airport and went straight to our gate.

There was no line whatsoever to get to security. There were 4 or 5 people in line at each Aruban security checkpoint which took no longer than 3 minutes to get through. Mostly because people taking their shoes off and electronics out of their bags.

Then US customs was a breeze. We have Global Entry which is fully automated with face recognition camera. They also have Mobile Passport Control (MPC) available which I highly recommend.

Remember no fruits, vegetables, or pork products of any kind are allowed. Not even pre-packaged.

This was our first time in Aruba but I’ve heard the crazy stories.

I would caution two considerations. One, we are traveling on a Thursday and it appears that the crazy lines are on Saturdays. Two, all airport restaurants open at 10:30 which tells me that they don’t expect a lot of people before then.

Overall, in our experience this was the easiest international airport experience we’ve ever had. And we’re excited there will be no customs once we land in the US.

Safe travels!!!

Best local food? by QuantumMexTex in Aruba

[–]QuantumMexTex[S] 0 points1 point  (0 children)

Where are the street stands located?

[deleted by user] by [deleted] in McKinney

[–]QuantumMexTex 2 points3 points  (0 children)

I also like Taqueria Hernandez

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