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  1. trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    04-22-2009, 01:21 PM #81
    thx for the info newman, your pic makes me not trust you though ^_^

  2. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    04-22-2009, 01:27 PM #82
    Quote Originally Posted by trippingthespeculatingpos View Post
    thats not fair cause most of my shares still havnt been touched
    oh, ok, card resubmitted for review and approval.

  3. stang3O2 is offline
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    Joined: Nov 2008 Location: Indy/LA/chi/ny Posts: 422
    04-22-2009, 01:36 PM #83
    Quote Originally Posted by trippingthespeculatingpos View Post
    so im guessing no one knows, its hard to hold a core if i cant choose which shares to sell.
    I called scottrade about this question and they told me to mark on my taxes last in first out

  4. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    04-22-2009, 01:52 PM #84
    can someone turn the fan on and circulate some air, the paint is quite tacky

  5. jelax is offline
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    Joined: Mar 2009 Posts: 63
    04-22-2009, 01:52 PM #85
    Quote Originally Posted by mogami View Post
    Hi, I should do a commerical for TDA. The 500 free trades ($4975) is like they are giving me back what ING stole from me.
    Still trying to figure out how you got all those free trades.

  6. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    04-22-2009, 02:23 PM #86
    Quote Originally Posted by stang3O2 View Post
    I called scottrade about this question and they told me to mark on my taxes last in first out
    No, No, No.....

    Whoever you talked to at Scottrade is giving you wrong advice....

    The IRS uses 2 methods. The default is "first in - first out" and the other is the "specific share method". According to the IRS, if you use the "specific share method", there must be communication between you and your broker at the time of the trade. You can identify what block of shares you are selling with Scottrade, but you must place the trade over the phone to do this. They will charge you the regular internet rate to do that because you can't do that online, but their accounting software won't factor this in which means you would have to do your taxes manually - which I recommend BTW if you use Scottrade anyway because their accounting is really sloppy. I recommend "Track Your Trades" accounting software. Etrade lets you designate what block of shares you are selling online at the time of the trade, but there are many downsides to them.......

  7. stang3O2 is offline
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    Joined: Nov 2008 Location: Indy/LA/chi/ny Posts: 422
    04-22-2009, 02:29 PM #87
    thats strange, cause i specificly ask her if i need to place the order through them over the phone so it could be marked which shares were to be used and she said i just needed to mark first in first out, or last in first out. I guess I should have asked my cpa instead

  8. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    04-22-2009, 02:31 PM #88
    prediction
    close .4401
    .455 AH high

  9. airman is offline
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    Joined: Mar 2009 Posts: 237
    04-22-2009, 02:33 PM #89
    Quote Originally Posted by stang3O2 View Post
    thats strange, cause i specificly ask her if i need to place the order through them over the phone so it could be marked which shares were to be used and she said i just needed to mark first in first out, or last in first out. I guess I should have asked my cpa instead
    What she means is "THEY" are going to mark it first in first out. They arent going to do you any favors in the reporting basically. My CPA works out what is best tax wise. And as demian says ... if you get audited your mileage may vary. But as long as everything matches up my CPA says it is fine. Check with your own for sure. *** of course there is the wash rule to apply also ***
    Last edited by airman; 04-22-2009 at 02:37 PM.

  10. JohnnyIrishXM is offline
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    Joined: Feb 2009 Location: Valley Forge ,PA Posts: 1,583
    04-22-2009, 03:08 PM #90
    This day S**ks,golf was canceled due to rain and SiriusXM is back to trading 100 share blocks between brokers again....

    BTW NEWS FLASH:SiriusXM is staring BK in the face due to Debt due in May
    20012...President Obama today said he will bail out SATRAD industry because it is too vital to lose...Stock plummets from $45 to .05
    Film at 11pm

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