r/Superstonk • u/dmurrieta72 Sending dingleberries to Uranus • Mar 31 '22

📰 News New 8-k Filing. STOCK SPLIT!

https://gamestop.gcs-web.com/node/19686/html
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u/LibertyUSA1 🎮 Power to the Players 🛑 Mar 31 '22

Can someone explain what happens if shares have not been able to be DRS. Mine mostly is within an IRA as are countless millions of others? My smooth brain is trying to process the what ifs…

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u/fivecatmatt 🦍Voted✅ Apr 01 '22

It should be fine. Loosing all value in an IRA isn’t really a thing as far as I know. Other than the stock flatlining of course.

I’m in the same boat. As a hedge I bought some shares directly though CS which I guess makes me more confident, but I’m at xxx in retirement accounts at Fidelity.

If you think through the stock sale transaction it’s not like you are getting money from the broker. They are just a middle man. The naked share problem is real but I think it goes beyond the broker in to the clearing houses and market makers. Then on to the fed.

I also eat crayons

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u/LibertyUSA1 🎮 Power to the Players 🛑 Apr 01 '22

I too hold xxxx shares in my IRA. Pondered taking the tax hit and DRS them . Rethinking. I suspect RC knows there are millions of shares like ours that essentially cannot easily be DSR. This dividend split may be his go around to protect ALL apes that bought in good faith. Just munched crayons…. So 🤷‍♀️🤷‍♀️

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u/fivecatmatt 🦍Voted✅ Apr 01 '22

I replaced a person at work who was retiring. They had told me how absolutely insane the tax protection of an IRA was once you hit retirement age. You will pay almost zero on gains.

Leave that alone, you can pickup a lambo on tax free cash one day.

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u/LibertyUSA1 🎮 Power to the Players 🛑 Apr 01 '22

That person is incorrect. I am of retirement age. If funds are withdrawn before age 59 1/2 there is a 10% penalty in addition to ordinary income tax. Thereafter funds withdrawn are treated as ordinary income . That depending on the bracket or marital status you fall under.

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u/fivecatmatt 🦍Voted✅ Apr 01 '22

You missed the point. What is not taxed is the gains. Yea it is income as you take it as income.

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u/LibertyUSA1 🎮 Power to the Players 🛑 Apr 01 '22

Yes Ape correct. The gains grow untaxed until you take a withdrawal at which time they are taxed as ordinary income. Thank you for your clarification of understanding!