MARKETS,Anybody even yet?

[olds442jetaway]

Agree. Believe it or not, I still do paper returns. I find you don’t really learn anything by hitting buttons. I also get all forms and instruction books mailed to me. It is a pain, but keeps me hopefully, somewhat sharp.

[dinghy]

Agree. Believe it or not, I still do paper returns. I find you don’t really learn anything by hitting buttons.

For my situation, I would view that as pointless drudgery. I reviewed everything generated by TurboTax, and I believe I understand all the calculations with the possible exception of the foreign tax credit.

I have a lot of stock transactions because I believe I'm more profitable that way. Gold miners are a good example. In two days, GDX has plunged from 53 to 48 for no logical reason that I can see. It looks like traders believe the Fed's trajectory has changed, but it will all work out the same in the end. If the Fed stands idle now, they'll panic later.

So I'm now in GDX buy mode after a period of selling. Many such examples in the past, for various reasons.

[dinghy]

I'm not predicting anything, but today's action is certainly consistent with a bear market rally. Top performing sectors consumer discretionary and tech.

USA is outpacing internationals by about a 2% margin.

[wildman49]

I'm not predicting anything, but today's action is certainly consistent with a bear market rally.

Totally agree for now DOW and SPX still in down treads, watching and waiting if this rolls over going short is the trade. If somehow it can follow thru the rest of week then bear might hibernate.

Gold taking a few days off still like it here.

[olds442jetaway]

Ditto! I’m still a bit of a . Grew up with paper books, manuals, instruction sheets etc. Ever read an instruction sheet and look at the diagrams on putting together a gas grill printed in China! . Ugh!! I’m done with gas grills now anyway. Up here, they rust away in 3 years or less. This time of year, we have bulk pickup. The streets are lined with them. Sometimes, a new burner costs almost as much as a new grill. Almost nobody knows how to put one in anyway. Reminds me of the market though. People, fund managers, Wealth Managers etc. read a 3 word headline and just hit buy or sell buttons for billions of dollars. Insanity. I’ll stick with a combination of Buffetts strategy and my own! Great for day traders though. I agree hit and run can be very rewarding. Getting back for just a moment on the tax returns……I’ve always listed all trades individually on form 8949 and the Sch D. I guess now with the Brokers like Fidelity sending to the IRS all of the detail, it’s ok to summarize and in the 4 main categories just list various on purchase dates and 12/31/2024 ( this years return ). For the sale dates. Don’t quote me, but I have seen some sample returns and that’s what accounting firms are doing. PS. I do love YouTube though for things like car repair procedures if you get a good instructor. Very little you can do yourself anymore.

[olds442jetaway]

Sitting on the sidelines today. This could in fact be one big mouse trap!!

[dinghy]

I’ve always listed all trades individually on form 8949 and the Sch D. I guess now with the Brokers like Fidelity sending to the IRS all of the detail, it’s ok to summarize and in the 4 main categories just list various on purchase dates and 12/31/2024 ( this years return ). For the sale dates. Don’t quote me, but I have seen some sample returns and that’s what accounting firms are doing.

No recent experience here as I'm fully automated. I import the 1099s from the brokerages into TurboTax, and then TurboTax does what it does.

But your proposal seems very reasonable to me. Instead of inputting the individual line items, you simply input the subtotals. That's how all my 1099s are organized, so no special calculations required.

I may have even done it that way in the past, when the import may not have been available. As you note, you're not telling them anything they don't already know.

[wildman49]

Sitting on the sidelines today. This could in fact be one big mouse trap!!

So far trap indeed. Short sellers might pile in next few days.

I think TSLA going under 200 and if this is 2000-2001 it might see under 100

[olds442jetaway]

I would have no idea how to import stuff to Turbo. I think it’s lack of interest more than not being able to figure it out eventually. I was one of the last to let my old flip phone go. I guess it’s partly because a new phone costs 6 times what my original mortgage payment was. The market did finish up, but IMO the slightest bad headline could send it straight down again.

[dinghy]

I would have no idea how to import stuff to Turbo. I think it’s lack of interest more than not being able to figure it out eventually.

You should do it before the Trump admin puts a tariff on it .