Random Thought of the Day

Quote: odiousgambit

there is no way long term cap gains are not taxed, that is, if it is in a normal account, not a Roth or something

You are mistaken.
Long term capital gains are not taxed until you reach a certain income threshold.
0% for s single person with income no greater than $41,675.
0% for a married couple with income no greater than $83,350.
Since I am retired, and my wife is semi-retired this applies to us.


https://www.bankrate.com/investing/long-term-capital-gains-tax/#:~:text=Long%2Dterm%20capital%20gains%20tax%20rates%20for%20the%202023%20tax%20year&text=In%202023%2C%20individual%20filers%20won,rate%20climbs%20to%2020%20percent.



https://www.irs.gov/taxtopics/tc409

Quote: PotPie

You are mistaken.
Long term capital gains are not taxed until you reach a certain income threshold.

of course not. Was this an ambush? sort of like "A] bombs are not dangerous ... B] what!? of course they are! A] Not if there's no fuse, stupid!

Quote: odiousgambit

of course not. Was this an ambush? sort of like "A] bombs are not dangerous ... B] what!? of course they are! A] Not if there's no fuse, stupid!

I wasn't trying to ambush you.
I didn't think that someone would not consider that I was below that threshold.
Sorry. My OP should have been more detailed.
I was derailed from that by being so thrilled when I realized that I owed no tax.

thanks for the update to '22 and '23

I'm coming clean.

I'm a sock.
I was FallawayJumper and began posting here in 2018.
I got suspended for 7 days and then couldn't get back on. Right now FallawayJumper is showing as a "restricted user."

I wanted to get back on the site and was able to as PotPie. I should have brought this up earlier. My bad.

I am coming clean because I don't like being deceptive.

If the Wizard wants to ban me I respect his decision.

I would like to stay on the site as PotPie but that is his decision. I lost my other PW and cannot get on as FJ even if it became "unrestricted."

Quote: PotPie

I'm coming clean.

I'm a sock.
I was FallawayJumper and began posting here in 2018.
I got suspended for 7 days and then couldn't get back on. Right now FallawayJumper is showing as a "restricted user."

I wanted to get back on the site and was able to as PotPie. I should have brought this up earlier. My bad.

I am coming clean because I don't like being deceptive.

If the Wizard wants to ban me I respect his decision.

I would like to stay on the site as PotPie but that is his decision. I lost my other PW and cannot get on as FJ even if it became "unrestricted."

I’ll be first to chime in. Despite often disagreeing with me which of course means you are wrong, you have added to the forum as PotPie, and your situation is a result of an administrator error here. I hope you can stay as PotPie, since no one remembers FallawayJumper.

Quote: SOOPOO

I’ll be first to chime in. Despite often disagreeing with me which of course means you are wrong, you have added to the forum as PotPie, and your situation is a result of an administrator error here. I hope you can stay as PotPie, since no one remembers FallawayJumper.

thank you muchly

Most are probably already aware of this, after all, it's basic math; but sometimes basic stuff can be forgotten.
Maybe some aren't aware.
The first time it happened to me I did a double take. It caught me by surprise.

Say you lost 20% in your mutual fund last year, which was a bad year.
You had $100K at the beginning of the year and at the end of the year you had just $80K.

Later this year, maybe November, you check it and you see that it's up 20% year to date.

So you think, great, I got back what I lost last year.

But you didn't. The 20% gain from $80K puts you now at $96K. You're still down from Jan. 1, 2022.

Some things that happen to you you never forget.
It's like they're burned into your brain.

When I was 24 I was staying at a cheap hotel in L.A.
I heard a sound like thud.
I looked out of my window.
A very heavy guy, across the divide in the back in an identical building jumped or fell out of a very high window and was lying on the ground.
There was only one open window, and somebody from his room was in the window looking out and called 911.

When I was a kid I used to regularly hike in the woods.
I saw a family living in the woods in a tent.
They weren't camping out. They were there every day.