Stock market addiction

Me watching my portfolio climb itself out of a 3 month deficit and hoping it doesnt climb high enough that i have to claim it on my taxes next year. https://i.imgflip.com/32e580.jpg

You don't claim unrealized gains. You only claim capital gains or capital loses when you sell. If you buy a non dividend paying stock when your 20 years old and don't sell it until your 60 years old. You don't report absolutely nothing for 40 years. It's only after you sell. You do claim dividend payouts from dividend paying stocks though. The same principle applies to crypto. Though crypto can get a lot more complicated. For example, let's say you buy BTC with fiat. Then buy ETH with BTC. Then buy ADA with ETH. Then sell ADA for fiat. Each transaction from Fiat->BTC->ETH->ADA->Fiat is a taxable event. That's on the simpler side. Imagine having thousands of said transactions. Shit hits the fan real quick. It's an accounting nightmare.

So im going based of this notion "You can't simply write off losses because the stock is worth less than when you bought it. You can deduct your loss against capital gains. Any taxable capital gain – an investment gain – made that tax year can be offset with a capital loss. If you have more losses than gains, you have a net loss" If i stay in net loss then im good, because it isnt like i made any money i just lost it. Which unless im wrong would be similar to purchasing something material with fiat that depreciates in value and selling for less than you paid for. But if i make more than i lost then i have to pay taxes on it.

@hell_hound7 Panda, I wouldn't feel bad about losing money in the stock market this year. This is probably the shittiest year to trade stocks. I've more or less stopped this last month. If it isn't extremely overbought its flushed straight down the toilet. Not my bag of tea

Not upset that i lost money, im more upset at giving the money i earned taking a risk, to the same government who pushed to do it XD

When all else fails. YOLO dat bish!! https://arealestateleads.com/wp-content/uploads/2021/01/IS-GAMESTOP-STOCK-GME-A-BUY-RIGHT-NOW-WALLSTREETBETS.jpg