[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y ] [Search | Home]
4Archive logo
A few questions from a beginner
If images are not shown try to refresh the page. If you like this website, please disable any AdBlock software!

You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 34
Thread images: 3
File: download.png (1 KB, 160x160) Image search: [iqdb] [SauceNao] [Google]
download.png
1 KB, 160x160
I've been working for a small company being paid under the table for a good while. I was wondering how they go about taxing the capital you've made from trading stocks.
Also, is it possible for me to buy and sell a stock within the same day? Say I want to buy at a low, and just sit back and watch the stock climb for a few minutes then sell... is that possible?

Thank you, guys.
I'm only investing $500 but I'd still rather not lose it.
>>
>>1019890
sure it is possible ,its called daytrading and i wouldnt recommend it for beginer its most risky way
>>
Online brokerages charge a transaction fee, so doing many small transactions is very inefficient, even if you can make money. You might find that you've spent all day hunched over your console making less than minimum wage.
>>
>>1020952
apparently you know what robin hood is
>>
I have the same questions as OP and plan to invest the same amount soon. Is same day trading available on Robinhood? How does someone withdraw that money? Does it go to your bank account? Noob here. Thank you in advance for the knowledge.
>>
>>1020985
*you DON"T know what robin hood is

i left out the most important word in that sentence.
>>
>>1020989
OP here. I bought 150 shares of AMD at $2.90 a share.
Robinhood works exactly like PayPal.
They make money from your money laying around in their accounts and gaining interest.
You can withdraw straight to your bank account but it takes a few days to "process".

Still wondering about taxes and day trading.
Do I have to file no matter how much I've spent and made?
>>
>>1020985
yeah, you still pay fees with robin hood its just hidden. ill happily sell you stock at no commission ill just show you a slightly worse price for the stock and collect my money that way. you fuckers are getting gouged and you act like theyre doing you a favor lol
>>
>>1021331
>Do I have to file no matter how much I've spent and made?
Yeah, although they don't give a fuck whether you report it if you lost money. The real bitch is that trading the same stock will lead to the SEC disallowing most of your your losses, and taxing the full value of your profit (if any).
Of course, if you can't trade on margin (like RH), you're somewhat protected, as settlement periods will make it harder for you to violate the rule.
>>
File: main.png (74 KB, 400x400) Image search: [iqdb] [SauceNao] [Google]
main.png
74 KB, 400x400
>>1020952
>be me, as opposed to some other faggot
>use TD Ameritrade
>$10 commission for each buy and sell
>trade options, margins, futures, etc.
>god-tier customer support
>helps me with the tax reports each year

If you do $500 or more in a single transaction, $20 to buy and sell is only 4%. Higher, it's even less. I might switch to RobinHood once it gets its affairs in order, but until then I'm paying for a reason.
>>
>>1021361
Its still less expensive for people looking to learn the market, so technically theyre doing some of us a favor. I'm not paying $35 to invest $10.
>>
>>1021397
>I'm not paying $35 to invest $10.
Yeah,the thing is, no one "invests" $10.
You're either trying to trade, in which case $10 is still too little, or you're just gambling, in which case RH is perfect for you.
>>
>>1020990
Lol, what a loser. I bet your woman cucks you. When did it all go downhill for you? I bet you're black too,since you're so monkeydumb. Lol, ya you probably are
Hahaha. Everyone laugh at the nigger
>>
Robinhood offers cash accounts only at this time. This means that when you sell, you have to wait 3 business days to use that money again to buy.

You can sell a few minutes later if you want. Pattern day trader rules only apply to margin accounts, not cash accounts, so go nuts

Btw the only fees is that you don't get paid interest on unused cash on deposit
>>
>>1021361
They don't charge spread. Just no interest on cash
>>
>>1021537
The biggest drawback is that with RH you're cutoff for almost half the market day, no ability to sell in a crash.
I'll stick with commissions, given that.
>>
>>1021394
I use Schwab for real investing and put a little into RH for fun meme trading. Works good for me.
>>
Started this last month and using options express as they're $9 a trade flat so works well as a beginner. Pretty sure it's not taxable income until you withdraw from the account since it's not officially "income" yet. Just claim withdraws as untaxed income and they'll gladly tax it upon tax time.
>>
>>1021533
Are you really this stupid? I specifically said it's beneficial for people who want to ve involved and learn in the live market without having to pay high commissions
>>
File: wut.gif (436 KB, 250x138) Image search: [iqdb] [SauceNao] [Google]
wut.gif
436 KB, 250x138
>>1021541
Bruh have you ever heard of the concept of a limited sell?

Why are you fucking shilling here?
>>
Robinhood is a shitty scam.
>>
>>1021672
please explain senpai.

Why would everyone here be fucking with us?
>>
>>1021675
The price quotes are all fake. The program just hunts stop losses off noobs.

You really think some app wants to give you free money?

Naiive and deluded
>>
>>1021584
Your realised gain is the price you sold it at whether you withdraw the funds is irrelevant as far as the tax man is concerned
>>
>>1021394
Can't use robin hood in Ireland. Help please
>>
>>1021682
So why wouldn't you just watch the market it's self and buy and sell then?

I'm only starting off on penny trading so I will only be using a max of 4 stocks at one time.
>>
>>1021704
If you want to get scammed in a similar way in ireland use IGindex
>>
>>1021645
Yeah, you have no idea what you're talking about, "bruh".
I don't give a fuck what kind of orders you invent, RH doesn't give you access to the pre or after market.
Which means your positions are fucked if they move then, because you can't touch them.

What an idiot.
>>
>>1021851
I honestly don't know what you are talking about. I'm about to get my bank approved on RH when I get the micro transactions verified.

Why would you care about pre or after market? It opens at 9:30 and closes at 4 fAm
>>
>>1021859
And nothing to do on weekends.

This is why crypto trading is better. Less scammy and its 24/7
>>
>>1021859
>I honestly don't know what you are talking about.
That's apparent.

>Why would you care about pre or after market?
What are you going to do when your stock crashes at 4:30pm? Cry because RH won't let you sell?

That will be your only option.
>>
>>1021595
Are you?
Why would you pay out cash in the form of losses if you're "just learning"?

Wouldn't it be smarter to use a paper trading program?
But I guess you couldn't pay RH any money that way.
>>
>>1021874
y u have 2 bulli fAm?

w-what is the benefit and short-term gain to investing in crypto trading?
>>
>>1021985
>y u have 2 bulli fAm?
Says the guy who called me a shill.
Thread replies: 34
Thread images: 3
Thread DB ID: 365481



[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

[Boards: 3 / a / aco / adv / an / asp / b / biz / c / cgl / ck / cm / co / d / diy / e / fa / fit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mu / n / news / o / out / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / t / tg / toy / trash / trv / tv / u / v / vg / vp / vr / w / wg / wsg / wsr / x / y] [Search | Home]

All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the shown content originated from that site. This means that 4Archive shows their content, archived. If you need information for a Poster - contact them.
If a post contains personal/copyrighted/illegal content, then use the post's [Report] link! If a post is not removed within 24h contact me at wtabusse@gmail.com with the post's information.