RCL Stock

[chipmaster]

4 minutes ago, yogimax said:

Many individuals bought RCL at over $100/share.  They have pain and suffering.  That's why I dislike that some use this forum to "boast and brag" about their good fortune (luck) with RCL stock!

https://www.wsj.com/articles/cruise-ship-photographers-once-in-a-lifetime-shot-anchors-just-out-of-reach-11589379290

 

A rather well compensated cruise focused photographer got confused between buying a company that provides a good time versus investing in a company with good fundamentals.

 

Kind of like getting enamored and marrying a hooker because you had a good time again and again and confusing that with something more fundamental then  waking up one day and wondering what happened, LOL

 

"Now 63 years old, Mr. Verdure pondered the shrinking value of their retirement portfolio, especially the 1,000 shares of Royal Caribbean stock they bought at $90, failed to sell at $135, and watched tumble below $23"

[yogimax]

5 hours ago, irzero said:

So what.

That's the market.

 

You miss the point.  It's about those who love to boast and brag about the profit they may have made in RCL stock.  Not only does it mock those less fortunate, it flies in the face of the wisdom taught in the Book of Proverbs... "Arrogance will bring your downfall, but if you are humble, you will be respected."

[ALWAYS CRUZIN]

22 hours ago, Jimbo said:

You have to wait 30 days though between selling and buying , otherwise you are hit with a fee right?

TD Ameratrade ther is no fee for trading.

[dodgestang]

Well.....this thread always takes such interesting turns ;).

 

 

[Jimbo]

41 minutes ago, ALWAYS CRUZIN said:

TD Ameratrade ther is no fee for trading.

there is a fee when you buy a stock day 1 and then sell on day 3 for a lost and then bay again on day 5..............I'm told when I called  I have to wait 30 days to buy the same stock again after a lost.

 

I thought that is what day traders do. Guess not. I guess it means more like they buy at 10am a stock and then turn around and sell it at 4pm for a gain.(Same Day)

 

Seems strange to me too. I guess you can buy the same stock every other day if you like but it's after you sell for a lost you can't buy the same stock without a fee inless it's 30 days later. It was like a $75.00 fee/charge.

Edited May 15, 2020 by Jimbo

[yogimax]

10 minutes ago, Jimbo said:

there is a fee when you buy a stock day 1 and then sell on day 3 for a lost and then bay again on day 5..............I'm told when I called  I have to wait 30 days to buy the same stock again after a lost.

Of course, you can buy on day 1, sell on day 3, and buy again on day 5.

 

What you are referring to is a "wash sale."  In the above scenario, if you rebuy within 30 days of the sale you cannot claim on your taxes the loss you suffered on day 3.  After 30 days (day 33) you can claim the loss.  Hope this helps.

[NJ&Ozzie]

2 hours ago, yogimax said:

You miss the point.  It's about those who love to boast and brag about the profit they may have made in RCL stock.  Not only does it mock those less fortunate, it flies in the face of the wisdom taught in the Book of Proverbs... "Arrogance will bring your downfall, but if you are humble, you will be respected."

Maybe there are more important issues to focus on.  Like the freedom to boast?

NJ 

[yogimax]

2 hours ago, irzero said:

In fact those out dated proverbs are useless in competition because boasting can psychologically beat an opponent before you even compete.

This is the danger of living your life based on out dated books claiming wisdom.

Sent from my SM-N975F using Tapatalk
 

Sorry to cause a rise in your blood pressure.  As one of those out dated books also says... "Pride leads to destruction, and arrogance to downfall."

[yogimax]

12 minutes ago, NJ&Ozzie said:

Maybe there are more important issues to focus on.  Like the freedom to boast?

NJ 

Indeed, we all have the "freedom" to boast.  We also have the freedom to refrain from boasting!

 

[Ocean Boy]

17 minutes ago, NJ&Ozzie said:

Maybe there are more important issues to focus on.  Like the freedom to boast?

NJ 

Every one certainly does have the right to come across as obnoxious.

[Jimbo]

30 minutes ago, yogimax said:

Of course, you can buy on day 1, sell on day 3, and buy again on day 5.

 

What you are referring to is a "wash sale."  In the above scenario, if you rebuy within 30 days of the sale you cannot claim on your taxes the loss you suffered on day 3.  After 30 days (day 33) you can claim the loss.  Hope this helps.

Will they send some kind of record of this lost to me for 2020 taxes that I would give to my tax accountant? or must I keep track myself? 

Edited May 15, 2020 by Jimbo

[NJ&Ozzie]

18 minutes ago, Ocean Boy said:

Every one certainly does have the right to come across as obnoxious.

Not sure if you mean me.   What's the saying  - don't sweat the small stuff...  

NJ 

[Ocean Boy]

4 minutes ago, NJ&Ozzie said:

Not sure if you mean me.   What's the saying  - don't sweat the small stuff...  

NJ 

I absolutely did not mean you. It was a general comment that people who boast often come off that way. And we don't always take into account the affect that our words can have on someone else. And I certainly don't exclude myself from that.

[yogimax]

53 minutes ago, Jimbo said:

Will they send some kind of record of this lost to me for 2020 taxes that I would give to my tax accountant? or must I keep track myself? 

It depends on your broker.  I use TD Ameritrade and at the end of the year they send me a summary statement for use in preparing my tax returns.

[jenf22]

2 hours ago, yogimax said:

Of course, you can buy on day 1, sell on day 3, and buy again on day 5.

 

What you are referring to is a "wash sale."  In the above scenario, if you rebuy within 30 days of the sale you cannot claim on your taxes the loss you suffered on day 3.  After 30 days (day 33) you can claim the loss.  Hope this helps.

I had this happen to me today.  I bought CCL yesterday at $11.64 and today my TD Ameritrade account shows I bought at $17.50.  I was SO confused!  After poking around I saw I had a $500 "wash sale adjustment".  I guess it's because I did sell CCL for a loss back in March and have bought and resold a couple of times since then.  Yet another example of me not knowing what I'm doing 🙂 

[ALWAYS CRUZIN]

I made a big mistake last year. I purchased more Carnival stock. It went up nice and I sold it. At the end of the year I get a statement for the IRS. I was confused. It indicated all the sold stock was taxable including the money I paid for it not just the upside. Come to find out. I totally forgot it was funded via my IRA. So I sent in a return along with a letter explaining to the IRS how much of it I already paid taxes on and would not like to pay thiem on it again. I sent them copies of everything so they could see what happened. Sent it in in February. Still no reply. Checking on it, it says. In process. Cancelled that account and opened another NOT an IRA. I have 500 shares and my wife has 500 shares. The last 100 I purchased was just under $8.00

[ALWAYS CRUZIN]

Just now, ALWAYS CRUZIN said:

I made a big mistake last year. I purchased more Carnival stock. It went up nice and I sold it. At the end of the year I get a statement for the IRS. I was confused. It indicated all the sold stock was taxable including the money I paid for it not just the upside. Come to find out. I totally forgot it was funded via my IRA. So I sent in a return along with a letter explaining to the IRS how much of it I already paid taxes on and would not like to pay thiem on it again. I sent them copies of everything so they could see what happened. Sent it in in February. Still no reply. Checking on it, it says. In process. Cancelled that account and opened another NOT an IRA. I have 500 shares and my wife has 500 shares. The last 100 I purchased was just under $8.00

I also purchased 100 of Royals this year when it was super low. I am happy with that. Should of got more.

[taglovestocruise]

1 hour ago, jenf22 said:

I had this happen to me today.  I bought CCL yesterday at $11.64 and today my TD Ameritrade account shows I bought at $17.50.  I was SO confused!  After poking around I saw I had a $500 "wash sale adjustment".  I guess it's because I did sell CCL for a loss back in March and have bought and resold a couple of times since then.  Yet another example of me not knowing what I'm doing 🙂 

Ccl has not traded above 12.00 over the last week. Something is off. A wash sale only applies to your federal tax return form 1040 D.   Kind of odd but that 17.50 is close to a Canadien dollar exchange. 

Edited May 15, 2020 by taglovestocruise

[jenf22]

1 hour ago, taglovestocruise said:

Ccl has not traded above 12.00 over the last week. Something is off. A wash sale only applies to your federal tax return form 1040 D.   Kind of odd but that 17.50 is close to a Canadien dollar exchange. 

Yeah, I don't know.  I had never heard of a wash before.  Looking at my CCL cost basis, it seems I've sold it at a loss 4 times since mid-March.  I had been dumping them all at the same time - so I'd take a gain in NCLH and/or RCL and accept the loss in CCL.  I don't think I'll dump anything at a loss anymore.  This is the first time I've really played in the market so I'm learning as I go. 

[chipmaster]

51 minutes ago, jenf22 said:

Yeah, I don't know.  I had never heard of a wash before.  Looking at my CCL cost basis, it seems I've sold it at a loss 4 times since mid-March.  I had been dumping them all at tNe same time - so I'd take a gain in NCLH and/or RCL and accept the loss in CCL.  I don't think I'll dump anything at a loss anymore.  This is the first time I've really played in the market so I'm learning as I go. 

 

Wash sales are for "substantially similar" securities as much as I can understand, how is RCL and NCl not "similar?" 

 

If they are all dropping for the same find it hard to pass a audit claiming they aren't "similar"  

 

My simple solution as I have started playing in and out on daily, actually hourly basis is to do it out of my retirement accounts as they are not taxable so loss get no credit and the gains no tax either LOL

[Baron Barracuda]

46 minutes ago, jenf22 said:

Yeah, I don't know.  I had never heard of a wash before.  Looking at my CCL cost basis, it seems I've sold it at a loss 4 times since mid-March.  I had been dumping them all at the same time - so I'd take a gain in NCLH and/or RCL and accept the loss in CCL.  I don't think I'll dump anything at a loss anymore.  This is the first time I've really played in the market so I'm learning as I go. 

The way my broker (and I believe most others) handle wash sales is this:

 

Say you buy 100sh at $60 and later sell at $40 for $20/sh loss.  You then buy back within 30 days at $30.  Because you violated the wash sale rule recognition of the $20/sh loss for tax purposes is deferred until you sell the new stock and the broker shows the cost basis of the position as $50 ($30 purchase price + $20 deferred loss).  

[chipmaster]

6 hours ago, Jimbo said:

there is a fee when you buy a stock day 1 and then sell on day 3 for a lost and then bay again on day 5..............I'm told when I called  I have to wait 30 days to buy the same stock again after a lost.

 

I thought that is what day traders do. Guess not. I guess it means more like they buy at 10am a stock and then turn around and sell it at 4pm for a gain.(Same Day)

 

Seems strange to me too. I guess you can buy the same stock every other day if you like but it's after you sell for a lost you can't buy the same stock without a fee inless it's 30 days later. It was like a $75.00 fee/charge.

 

As another mentioned the "fee" you are confusing is likely the tax liability on a gain versus being offset by a loss on another trade.   

 

Ever since one brokerage went to no fees, there is now NO commission / fee for buying or selling shares even if you do it daily. So it is a great time to be buying anywhere from 1 share of Amazon to 10,000 shares of CCL, LOL

 

You are free to buy any stock again even after selling it, but you simply can't take an income credit on the loss if you buy it again in 30 days.

 

It is actually a fun time with many stocks moving 1-3% a day and sometimes that much between a few hours.   Even in a down day one can make easily 1-3% on your money, are you a gambler and fearless?

 

Since you can now buy 1 share of AMZN or 3 shares of APL for no more in free fee than a 1000 shares of CCL you are better off gambling on high stock with high daily variation than the cruise line which make big moves based on some larger macro-economic news or such.  

 

Nothing here is classical investment!  Since I got out in January I've been dabbling every day and never leaving anything overnight and most definitely NOT over weekend, but that costs you obviously a little to.  

 

 

Edited May 15, 2020 by chipmaster

[Baron Barracuda]

3 hours ago, ALWAYS CRUZIN said:

I made a big mistake last year. I purchased more Carnival stock. It went up nice and I sold it. At the end of the year I get a statement for the IRS. I was confused. It indicated all the sold stock was taxable including the money I paid for it not just the upside. Come to find out. I totally forgot it was funded via my IRA. So I sent in a return along with a letter explaining to the IRS how much of it I already paid taxes on and would not like to pay thiem on it again. I sent them copies of everything so they could see what happened. Sent it in in February. Still no reply. Checking on it, it says. In process. Cancelled that account and opened another NOT an IRA. I have 500 shares and my wife has 500 shares. The last 100 I purchased was just under $8.00

This doesn't make sense.  If you purchased and sold the stock inside an IRA any resulting gain or  loss is not a taxable event.  Assuming your are over age 59 1/2 if it's a traditional IRA you only pay tax when you withdraw funds from the account.  If it's a Roth withdrawals are not taxed at all.  Suggest you check with your broker. 

[nelblu]

Stock is popping today $5.85 as of 10.23.  Positive looks towards Moderna Pharma having positive results with it's Covid 19 vaccine.  Only hoping for success.

[firefly333]

On 5/15/2020 at 3:13 PM, taglovestocruise said:

Ccl has not traded above 12.00 over the last week. Something is off. A wash sale only applies to your federal tax return form 1040 D.   Kind of odd but that 17.50 is close to a Canadien dollar exchange. 

Aarp will do some very complex tax returns for free here... with some exceptions. I had done a wash sale accidentally and it required another form and they were nope, we wouldnt do it, go pay a cpa.

 

With the news today about vaccine trials by MRNA, cruise stocks and almost everything else is flying. They said something 2 doses and people had antibodies as the same as if they recovered from covid. Might get thru phase 2 and 3 in time to produce some by the time school starts in the fall. Probably optimistic but still very good news about safer cruises.