Burned on TSLA Put, please help me understand wash sale rule

Discussion in 'Options' started by sepidpooy, Dec 18, 2020.

  1. Turveyd

    Turveyd

    Pull back, Puts gained value badly and hit SL I guess at some stage.

    Those are closed trades so value to pay tax on = -$10K

    So got to have a +$16K trade still open, if you don't close it this year then zero tax to pay, but closing it next year then tax to pay on 16K not 6K, so close and reopen ??

    Spread / Comm's cost make that worth while ??
     
    #21     Dec 19, 2020
  2. I think you should consult a professional for tax advices, try upwork.com.
    But how come your are selling a put and have losses when the stock railing like crazy? maybe buying another put will reduce you losses?
     
    Last edited: Dec 19, 2020
    #22     Dec 19, 2020
  3. Sig

    Sig

    While I agree that consulting a tax professional is very wise, using upwork for tax advise sounds like an especially horrible idea!
     
    #23     Dec 19, 2020