Home Topic Stock Market Baby Steps

Stock Market Baby Steps

Home › Forums › Financial Discussions › Stock Market Baby Steps

Tagged: 

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 2, 2021 at 9:12 am #2561
    pageal@gmail.com
    Keymaster

    I started this pagesome time ago: http://pagealh.com/biz-stock-trading-portfolio/
    You are welcome to propose additional information to be placed and elaborated there. We could discuss some topics here, info from which may be furhter summarized and preserved separately

    June 7, 2021 at 9:17 am #2570
    pageal@gmail.com
    Keymaster

    https://www.etftrends.com/sofi-adds-new-weekly-dividend-etf-to-roster-wkly/
    SoFi announced the launch of the SoFi Weekly Dividend ETF (NYSE: WKLY), the first equity ETF designed to provide a WEEKLY dividend payment to shareholders

    October 6, 2021 at 11:07 am #2595
    pageal@gmail.com
    Keymaster

    For by-market-sector long-term/passive investing, tese ETFs may be used:
    Vanguard:
    – VOX – Communication Services ETF
    – VCR – Consumer Discretionary ETF
    – VDC – Consumer Staples ETF
    – VDE – Energy ETF
    – VFH – Financials ETF
    – VHT – Health Care ETF
    – VIS – Industrials ETF
    – VGT Information Technology ETF
    – VAW – Materials ETF
    – VNQ – Real Estate ETF
    – VPU – Utilities ETF

    Spider(SPDR):
    – XLC – Communication Services
    – XLV – Consumer Discretionary
    – XLP – Consumer Staples
    – XLE – Energy
    – XLF – Financials
    – XLV – Health Care
    – XLI – Industrials
    – XLB – Materials
    – XLRE- Real Estate
    – XLK – Technology
    – XLU – Utilities

    October 6, 2021 at 12:03 pm #2598
    pageal@gmail.com
    Keymaster

    REPORTING TAXES IN ISRAEL ON TRADING WITH NON-ISRAEL BROKER (Firstrade for example)
    – 1042-S tax form, provided by US broker, contains info ONLY about dividend-related taxes, that were withheld by US IRS
    – ACTION REQUIRED: Tax on profits from sales of stocks is NOT charged by a US broker and is not reported to the IRS. Hence such tax is supposed to be (and MUST be) paid PROACTIVELY in Israel
    * Yearly “Tax Year Gain-Loss Information” (referred as 1099 form) is supposed to be available at the beginning of each year (about 1..16 Feb) at the broker’s site (Firstrade: Tax Center). Such info is provided in .CSV format and can be directly used for tax reporting in Israel.
    * 1099 xls document is NOT possible to get retroactively for ALL past years, just for the recent ONE
    * To get such an info indirectly (for the years where 1099 is not already available) these steps are possible for Firstrade:

    • Go to Account -> History menu
    • switch to “Download Account History” tab
    • set year start and year end dates and CSV format and press download
    • use resulting .CSV file with the following script, created by me (the file path is hardcoded on this version): https://github.com/pageal/1099TaxScaner/blob/main/main.py SCRIPT NOTEs: 1) stocks are sold in First-In-First-Out order. Profits are calculated accordingly: SalePrice – BuyPrice in order from earliest bought stock to recently bought 2) for companies going public through SPAC the ticker name may change during the report period. For correct 1009 calculation .CSV file need to be fixed (before the script activation) by replacing the pre-SPAC ticker (and corresponding empty ticker-change line) with the FINAL ticker name of the company

    – According to different criterias one can be defined as a trader OR an investor. This definition affects tax paid for profits. Described here in hebrew

    CONCLUSIONS:
    – be aware not just of resulting portfolio size BUT also of your formal profits (generated at sale points)
    – it’s may be (in some cases) better to ballance/compensate/offset TAXABLE profits with losses before end of tax year (by selling with loss, and consequent buying back with current price if you still believe in the company in long term)
    – be aware of amount of trading (and other characteristics of your activities) you do yearly and how this may be perceived by Israel tax authorities (investor/trader wise)
    – do not forget to download your 1099 .CSV report every year

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.

Comments are closed.