Yes they would just cancel each other out: ROBINHOOD KILL HIMSELF

[hmgROCK]

The kid was like CALI-Guy
A noobie

Basically he was buying put options
And he was also selling put option

The stock went down...
...he lost money on his sell put
But remember he bought some put options
...so he is up too

They will just kinda cancel each other out
Not $700k what he owe

And because its the weekend and stuff don’t get updated
It only show the $700k he lose
Not the one he won




Twenty-year-old Alex Kearns took his own life last June mistakenly believing he'd lost nearly $750,000 in a risky bet on Robinhood, the stock-trading app where he started trading as a teenager.

His parents filed a lawsuit, first obtained by CBS News, on Monday accusing Robinhood of wrongful death, negligent infliction of emotional distress and unfair business practices.

It’s two different stories. Stay stupid.

For someone who claimed to be trading for so long, you sure say stupid things like capital gains and losses will cancel out. There are variables at play, stay stupid.

[hmgROCK]

Lol

Yea dude
They will just kinda cancel each other out

Do you even trade stocks???

If you make $1,000,000 from apple
But lose $1,000,000 on tesla

They will just cancel each other out

You won’t have to pay 6 figure $1,000,000 tax

 

TRUST ME
I DO TAX EVERY YEAR

[theking]

WELPS so much for crying "NO BODY CARES about news threads"..."no view, no comment"...YOUR WORDS, NOT MINE...

What a LIAR! 

[hmgROCK]

he was given a lot of leverage money by robinhood for some reason

1. he bought some put option (stock goes down, he win)
2. he sell some put  (stock goes down, he lose)

stock went down..

1.  he won... because the stock went down
2.  he lost... because the stock went down

robinhood only show 2.  because hasn't update yet
if he excerise his 1.  they will kinda cancel each other out...
give or take... might win some or lose some depending on the option


AS YOU CAN SEE
THEY WILL KINDA OF CANCEL EACH OTHER OUT
that's just the way the white man's game is being played

For someone who claimed to be trading for so long, you sure say stupid things like capital gains and losses will cancel out.

https://www.cbsnews.com/news/alex-kearns-robinhood-trader-suicide-wrongful-death-suit/

Alex will never know that he likely didn't lose money on his Robinhood trades. If he had cashed in other options he'd purchased, his lawyers said, he may have even made a profit.

"The information they gave him was just incredibly skewed. And possibly completely wrong, because they make it look like you owe $730,000 when you really don't owe anything," said Benjamin Blakeman, one of the Kearns family attorneys. "That could panic just about anybody."

But after Robinhood sent him a late-night email requesting he pay more than $170,000, no one at the company was available to answer his questions.

"They provide no mechanism through a telephone call, through live email service, to get live answers to questions," says Ethan Brown, also an attorney for the Kearns family.

Dan and Dorothy Kearns believe that if a Robinhood customer service agent had responded to Alex's questions, Alex would still be alive today.

[Cali Guy]

Robinhood don’t suck
Its you...
You suck

Watch rocky turns around and say that Robinhood doesn’t suck after giving evidences that it does.

Since you claimed to be a tax professional, why don’t you explain to us when you can not deduct losses? Hurry up and google it.

[Cali Guy]

I give you time to google. 

[hmgROCK]

i just don't want you to end up like that ROBINHOOD KID
okay??
don't want to see you on the 6  '"o clock news"


thanks

[Cali Guy]

Watch rocky turns around and say that Robinhood doesn’t suck after giving evidences that it does.

Since you claimed to be a tax professional, why don’t you explain to us when you can not deduct losses? Hurry up and google it.

This.

[hmgROCK]

I’m just looking out for yall
We just all trying to make money

[Cali Guy]

It’s two different stories. Stay stupid.

For someone who claimed to be trading for so long, you sure say stupid things like capital gains and losses will cancel out. There are variables at play, stay stupid.

Here’s a variable at play, in Roth IRA or HSA, there is no canceling of capital gains or losses. Thought you are a tax pro? Don’t let this rookie schooled you.

[theking]

Watch rocky turns around and say that Robinhood doesn’t suck after giving evidences that it does.

Since you claimed to be a tax professional, why don’t you explain to us when you can not deduct losses? Hurry up and google it.

Seen the hippo-crib LIAR flip-flop on many occasions over the "YEARRRSSS"...so NOTHING new if he does it again..

[theking]

THAT GUY even STOLE the story from my thread so as usual "a day late, a dollar short" ...ACTUALLY, he's over a year late... :

http://www.pebhmong.com/forum/index.php/topic,401762.msg4974129.html#msg4974129

[hmgROCK]

Here’s a variable at play, in Roth IRA or HSA, there is no canceling of capital gains or losses. Thought you are a tax pro? Don’t let this rookie schooled you.

I don’t get it
Is this part of your story???
You won’t need any ROTH IRA, HSA

Because your story is about a taxable account from your wash sale
 

I don’t think a person is that disciplined and just keep investing only 10k after making 90k initially. The next day, he’s throwing in the full 100k and by the 3rd day, his investment has grown to 7 figures. But by the 4th, 5th, and 6th day his investment has shrunk back to 10k or below it. If he doesn’t time it right, irs only sees him making that 7 figures and not a wash. Now he’s in the hook for 7 figures taxes. Ouch, just scenarios but watch out if buy and sell often. This is a genuine issue.

[Cali Guy]

i do bookkeeping

TRUST ME
I DO TAX EVERY YEAR

This 

[hmgROCK]

Its really not that hard
The story you told is about wash
This usually mean its in a taxable account
I don’t  get why you going around trying to start these new variable

But go on ahead

ITS YOUR STORY

Plus roth ira has a $6000 cap so the dude can’t just throw $100k at it
Unless it already in the account from all the years
 

AGAIN ITS YOUR STORY
I DONT WANT TO MESS UP YOUR STORY

This 

I don’t think a person is that disciplined and just keep investing only 10k after making 90k initially. The next day, he’s throwing in the full 100k and by the 3rd day, his investment has grown to 7 figures. But by the 4th, 5th, and 6th day his investment has shrunk back to 10k or below it. If he doesn’t time it right, irs only sees him making that 7 figures and not a wash. Now he’s in the hook for 7 figures taxes. Ouch, just scenarios but watch out if buy and sell often. This is a genuine issue.