Tuesday, March 24, 2020

Tuesday 03/24/2020

This post is a continuation of the $50 a month stock challenge I started October 14, 2019.  Click on, "No Commission Stock Trades", on the right side of the page to read from the start.

   $328.93 self-imposed March trading limit.
2% of $328.93 = $6.58 March profit needed.

  -$   8.48 invested 2 WPG @ $4.24 ($0.25 paid 03/16)
  -$ 61.60 invested 1 VZ @ $61.60  (ex-date 04/09) 
  -$ 35.10 invested 2 CXW @ $17.55  (ex-date 03/31)
  -$ 45.75 invested 1 HP @ $45.75 ($0.71 paid 03/02)
  -$ 22.80 invested 2 ETRN @ $11.40($0.45x2 paid 02/21)
  -$ 30.15 invested 10 WPG @ $3.015 ($1.25 paid 03/16)
  -$ 55.00 invested 2 KHC @ $27.50 ($0.80 payable 03/27)
  -$ 14.60 invested 2 BRY @ $7.30 ($0.24 payable 04/15)
  -$ 53.00 invested 1 TNA @ $53.00
  -$   2.35 invested 1 BRY @ $2.35
   $   0.10 balance to invest 
   
7:00am (CDT)
Enter "GTC-EXT-Limit" SELL orders
     12 WPG @ $3.40 ( 2+10=12 ) ???
     1 VZ @ $61.70 
     2 CXW @ $17.90 
     1 HP @ $46.75
     2 ETRN @ $11.90
     2 KHC @ $28.50 
     2 BRY @ $7.60
     1 TNA @ $59.25
     1 BRY @ $2.90*

     * because I purchased 2 BRY @ $7.30 on 02/21 and 1 BRY @  $2.35 on 03/23, I need to indicate to my broker that I want to sell the 1 BRY @ $2.35 on 03/23. The default method is FIFO (First In First Out) but you can change it to "LIFO" or "cheapest" on any trade, just indicate it to your broker.
      The proceeds from the sale will be the same but the tax implications are different AND if you sell at a loss (selling a FIFO $7.70 share), you can not repurchase the same stock for 30 days or the IRS will not allow you the tax deduction. It is called the wash rule.
     Making money is just one aspect of building wealth, minimalizing taxes is another. I tell people "I wish I owned the IRS $1,000,000 each year in taxes". Saying you don't want to pay taxes is like saying I don't want to make money. JUST never pay more than necessary. 
     

Disclaimer, I am not a professional.
your comments are welcome and appreciated or
 e-mail...…..   1948modelblog@gmail.com


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