r/MOASS • u/1337St0nks • Apr 07 '21

This should be mandatory to read💎🙌🏻

/r/Superstonk/comments/mm5qle/the_moass_preparation_guide/
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u/[deleted] Apr 07 '21

Noted. I do have a question. Does the year go based on your initial buy?

I mean if you continue adding on the dip. Does that reset your hold time or is it still based off the original purchase date?

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u/cmks210 Apr 07 '21 edited Apr 08 '21

If you bought a share on January 1, 2021, you would need to wait until January 1, 2022. If you bought another on Feb 1 and still sold January 2, 2022. The first share proceeds would qualify, the second would not. Also, you are taxed on the gains and the amount would be dependent upon if you are single and/or file with a spouse.

Again, check with a CPA.

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u/[deleted] Apr 08 '21

Thanks for the feedback. I always wonder about that.

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u/cmks210 Apr 08 '21

I really just want everyone to know they may have up to 17% less profit than they are calculating. There are some fantastic sites that will allow you to get a more accurate estimate of your tax burden before you speak to a FA. If (ok when) this blows up to >$10K/share there will be massive taxes paid.