Tax accountants going through 800 pages of trading activity just to see $2.32 of capital gains for their client
Sunday, 23 Mar 2025
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I purposely lose at least 3k yearly in trading to have a write off. I know genius
wtf is a capital gain?
Todd I just paid you man, please get off Reddit and stop making posts about me.
Would love to hear from all the tax accountants out there who actually have to do this lol
you guys are making gains?
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Gains are gains.
Is the capital gain in the room with you right now?
That’s $20,002.32 too much
Lmao, trust us, we don’t do that.
We literally just plug in the 1099 tax form code that’s printed out by robinhood/e trade.
We do laugh at the loss porn that you guys have in 1 year.
I’ve never had a tax accountant criticize me for that. I have a fuck ton of dogecoin and she said nothing.
Serious question do most of you guys have a tax accountant? How much do they run you?
$90k gains with $90k wash sales.
Just don’t report it. Anything under a few hundred $ is nowhere on their radar. They’re looking for thousands/millions in fraud or non-reporting. Not $7. Just thought I’d share if any new folks are worried. You’ll be fine, trust me.
Traders life
Lmao the thought of me actually MAKING money on capital
He’s too busy looking for that $1.4 billion Tesla misplaced in a couch cushion.
Just filed recently and took my wife and her boyfriend along. They were going over stuff with us shown on a large display for everyone to see. The accountant was flying through the pages but for some reason stopped on the page that showed nearly $1 million traded but -$672.57 loss. And I took that personally 
Can he explain how to make money then?
My CPA dropped me for this actually
Look at moneybags over here claiming $2.32 in capital gains 😂
I do it myself. the free tax softwares are a fucking pain to enter info with
You do realize there is a summary page right? 😆
I ain’t reading all that
bro aren’t we getting a sequel to this banger?
LOL this is how I pictured my cpa last year
This was my day yesterday. Those spam token drops are a nightmare. Luckily this was for my own transactions.
That’s why people use sql.
audible chuckle
😂
ChatGPT Accountant has entered the chat
What is this “gains” you’re referring to?
Why would I have time for that? I’m a CPA, and even professionals just enter the summary.
More like $30k losss
Except all brokerages provide consolidated tax statements where everything the accountant needs to see is on a few summary pages…
This hurts man
You really don’t have to do that. Just aggregate and be honest. Never audited. Have been doing 32 years.
We’re job creators!
Literally just use the last page and FreeTaxUSA… done.
Better than average! Most traders I see lose money.
Only 800 pages. Off in the weeds trying to find a quarter. Yes, this is my life.
What a noob.
He could have just looked at the summary section. What a moron.
Wait you up on the year?!!!
You have net profit??
We have to pay taxes on this shit??????? I never filed it
You misspelled losses.
I made $238 in 2024
You guys are ending in gains?
is this “gain” in the room with us right now?
Musk accountants from December through present
This is so real. When I was in private accounting I had a client hand me a huge stack of papers. Apparently him and his friends would send each other crypto back and forth via CashApp (I think) instead of just sending money like normal people. Well CashApp was reporting those the same as normal crypto buys and sells. I went through that entire stack of papers in order to report a gain of under $5.
Had another guy who was a bored retiree who got into day trading. He hands me his brokerage statement and my jaw dropped. He had $35 million in stock proceeds. I was about to ask him where the hell he got that much money when I saw the basis that was reported: $34,998,000. The guy made a boatload of trades totaling $35 million dollars to make like $2,000. Luckily for me his broker at least consolidated the transactions for me.