I rolled over a 401k into an IRA. Sorry if I didn't make that clear.
I get the rollover but you said you turned $200 into $20K in some months. How? Or am I not understanding something? NM. I think I see what you're saying. the IRA gained $20K with what was already in there and you added only $200 for the year. Got it.
It's worded like you just took $200 and made it into $20K in a couple of months. [Reply]
Originally Posted by Hog's Gone Fishin:
Did you hang in with GBTC ?
Yup. My 15 are now 1365
After seeing some vids about how Futures are going to drive the price of BTC up shortly after 1/26, I'm good with staying in. May buy some more on a dip into the $1400 if that happens but for now, I'm good where I'm at. [Reply]
Originally Posted by lewdog:
Hog, when we selling X Stock?!?!
The next 2 days will be interesting. Trumps state of the Union speech should boost infrastructure stocks and then 1/31 the earnings report for X makes me nervous. I'm thinking of just putting a stop loss at 38.25. If we make it though the earnings report it should move on up some more since it finally broke $40.
If the stop loss gets triggered I may move my X money to NUE or STLD and stay in steel. I already own both those anyway. Still thinking GE needs to be bought at some point. But I'm thinking $13. When they spin off their trash sectors this year it could gain 100% over 6 months. IMO.
X seems like its been moving slow but my chart says it's up 16.94% since Jan 1. [Reply]
Originally Posted by Hog's Gone Fishin:
The next 2 days will be interesting. Trumps state of the Union speech should boost infrastructure stocks and then 1/31 the earnings report for X makes me nervous. I'm thinking of just putting a stop loss at 38.25. If we make it though the earnings report it should move on up some more since it finally broke $40.
If the stop loss gets triggered I may move my X money to NUE or STLD and stay in steel. I already own both those anyway. Still thinking GE needs to be bought at some point. But I'm thinking $13. When they spin off their trash sectors this year it could gain 100% over 6 months. IMO.
X seems like its been moving slow but my chart says it's up 16.94% since Jan 1.
Me and you are one. Putting a stop loss order for $38 here as well. Great minds think alike!
I like to see it hit $44 before I sell my shares. [Reply]
Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy? [Reply]
Originally Posted by lewdog:
Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy?
Wrong-o.
Short term capital gains are taxed as ordinary income. Long Term Capital Gains have their own brackets based on the brackets your Taxable income falls under. It's stupid, yes, but most likely it is whatever your ordinary tax rate is vs probably 15%.
Originally Posted by lewdog:
Also Hog Farmer. I bought my shares of X on May 3rd, 2017. If I sell before this date, I pay 25% tax. If I sell after this date, it's 15%. Correct? Would that change your selling strategy?
I'm not aware of that. are you saying your tax liability drops to 15% if you own them 1 year ?? [Reply]
Short term capital gains are taxed as ordinary income. Long Term Capital Gains have their own brackets based on the brackets your Taxable income falls under. It's stupid, yes, but most likely it is whatever your ordinary tax rate is vs probably 15%.
Ah I see. My numbers are correct given our previous tax bracket years. But since the wife isn’t working this year, I may be able to slip our household income into the 0% long term gains rate. More money into the 401k should do the trick. That would be sweet!
Originally Posted by Hog's Gone Fishin:
I'm not aware of that. are you saying your tax liability drops to 15% if you own them 1 year ??
It does drop for lost people as it’s comsidered a long term capital gain after holding a year. See Buehlers article. Very helpful. [Reply]