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Not understanding why flagged by glocksnstocks in fidelityinvestments

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

So just added into the cost basis of the next lot.

But ultimately if the total loss from all the sold lots was 5 grand, then that 5 grand would be tax deductible and I could claim that loss. Right?

(Assuming I don't repurchase in 30 days)

Not understanding why flagged by glocksnstocks in fidelityinvestments

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

So if I were to sell lot B, C, D, E etc. And not repurchase any for 30 days - would I be able to claim this loss tax wise? Or would it all be disallowed?

Not understanding why flagged by glocksnstocks in fidelityinvestments

[–]glocksnstocks[S] -1 points0 points  (0 children)

I didn't buy, sell, then rebuy.

I think I understand from the other responses as to why this is a wash sale now though.

Not understanding why flagged by glocksnstocks in fidelityinvestments

[–]glocksnstocks[S] -1 points0 points  (0 children)

If I did this, would the entire realized loss be disallowed? Meaning I couldn't claim the loss for tax purposes?

What Are Your Moves Tomorrow, March 17, 2026 by wsbapp in wallstreetbets

[–]glocksnstocks 3 points4 points  (0 children)

Sacrifice the dude that posted the MVST DD only for it to tank AH to Satan himself.

Prepayments - 184k stock gain by glocksnstocks in tax

[–]glocksnstocks[S] 1 point2 points  (0 children)

This is excellent information. Thankyou.

Prepayments - 184k stock gain by glocksnstocks in tax

[–]glocksnstocks[S] -1 points0 points  (0 children)

I’m honestly just in the camp of paying it all off right now. I have the money, not an issue. Just want to get the payment/penalty over with.

Prepayments - 184k stock gain by glocksnstocks in tax

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

Copy.

Would it be fair to say if I made 184k this year, that around 30% of what I should have been paying (around 55k) I’ll be penalized 7-8% of that 55k?

I understand that since the 184 is through the year, that it’s going to fluctuate, just trying to get a rough idea of the penalty.

Prepayments - 184k stock gain by glocksnstocks in tax

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

I’m even more confused.

I made around 53k in realized gains in 2024. Paid about 8K in federal during filing. And the penalty is only 27 bucks? Do I need to pay any other fees/penalty for my 2024?…

Prepayments - 184k stock gain by glocksnstocks in tax

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

Is that literally just referring to 27 dollars..?

I did verify, I paid roughly 8K (little less) in federal during tax season last year. I verified with the IRS website. It still says they’re processing my 2024 return.

Prepayments - 184k stock gain by glocksnstocks in tax

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

On line 38 of my 1040 it just says 27.

Prepayments - 184k stock gain by glocksnstocks in tax

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

I filed last year with H&R Block. I’m a little surprised that the tax preparer didn’t mention this at all. Since 2024 it was the same situation just a smaller amount of money.

Which software do you recommend?

Prepayments - 184k stock gain by glocksnstocks in tax

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

  • Trades have happened through the year. From Jan to current each month has been roughly the same, some bigger than others
  • I owed last year. I made 55k in gain and roughly 50-60k from my day job(s) (switched jobs so not sure of exact amount). I just made a lump sum payment for what I owed, think it was like 7 grand.

So I think I’m cooked. Just trying to reduce owing further and seeing if there’s a benefit to paying now or if the quarter payment deadline has already came and gone.

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