Do You Know THIS About Taxes?

Описание: IMPORTANT NOTE [July 12, 2021]: I realize that I misinterpreted the wash sale rule (quite significantly, and am working on a clarification video)! The tax code is often very wordy and confusing, so I want to clear some stuff up!

In the 17th episode of "The Dana Yi Show", I go over a case in which a Robinhood trader was taxed $800,000 despite netting $45,000 in profits! If you enjoy this video, make sure to drop a like/comment, as these videos take a lot of time and effort! Subscribe for all things money and finance :)

TIMESTAMPS:
0:00 - Intro/Background/Overview/Disclaimer
0:52 - Article overview
2:42 - Wash Sale Rule + Example [SEE NOTE ABOVE]
4:14 - What does "substantially similar" mean?
4:47 - Why does this rule exist?
5:52 - What can you do?
6:20 - Mark-to-market election
9:37 - Conclusion + Outro

Forbes Article: https://www.forbes.com/sites/shaharzi...
Mark-to-market Election Article: https://www.thetaxadviser.com/issues/...

Music: bensound.com