How To Deduct Stock Locate Fees From Short Selling Stocks!
How To Deduct Stock Locate Fees From Short Selling Stocks! Short sellers bet on, and profit from, a drop in a security's price. For Active Day Traders who specialize in small cap stocks, in order to execute this strategy they must pay a fee to borrow shares often called "Stock Locate Fees". In this video we discuss how to deduct these locate fees on your taxes to reduce your taxable income! 0:00 Intro 0:38 Can Traders Deduct Stock Locate Fees? 0:53 What Is Short Selling 1:14 Small Cap Company Defined 1:44 How To Get Shares To Short 2:07 Example Of Borrow Costs 3:22 You Must Qualify As A Trader ⚡️ Tax Free Wealth Training Course 😊 https://brian-rivera.mykajabi.com/tax... ⭐Schedule a Trader Tax CPA Consultation! https://calendly.com/tradertaxcpa/ 🧟♂️Follow me on Social Media https://instagram.com/brianriveracpa https://twitter.com/brianriveracpa 🤑 Click Here To View Our Free Day Trader Tax Resource Center🧠 https://www.tradertaxcpa.com/index.ph... For Related Videos on Day Trader Taxes: ✅ Why Active Day Traders Should Elect Mark-To-Market https://www.youtube.com/watch?v=ixkmG... ✅ Small Cap Short-Sellers Can Deduct Stock Locate Fees https://www.youtube.com/watch?v=kkgbT... ✅ Debunking The Top 3 Tax Myths! https://www.youtube.com/watch?v=oj1Hih0XN6Y&t=1047s 🖥️Some of My Favorite "Tax Deductible" Trading Tools: BenzingaPro - great for news and stock research https://pro.benzinga.com/tradertaxcpa... Scanz - great for scanning momentum stocks and news http://www.scanz.com?fpr=tradertaxcpa ⭐New to Trading/Investing? Take a baby steps with these introductory investing apps: ► Sign-up for Webull (Similar to Robinhood) Get 2 Free Stocks when you deposit $100 (valued up to $1650) https://act.webull.com/kol-us/share.h... ► Sign up for Robinhood and get a free stock! https://join.robinhood.com/brianr6125 ► Acorns - passive investing to help grow your loose change. Sign-up for a free $5! https://www.acorns.com/invite/?code=G... ___ DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need advice I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and/or use myself. Some of the links on this web page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing the content this channel.
How To Deduct Stock Locate Fees From Short Selling Stocks! Short sellers bet on, and profit from, a drop in a security's price. For Active Day Traders who specialize in small cap stocks, in order to execute this strategy they must pay a fee to borrow shares often called "Stock Locate Fees". In this video we discuss how to deduct these locate fees on your taxes to reduce your taxable income! 0:00 Intro 0:38 Can Traders Deduct Stock Locate Fees? 0:53 What Is Short Selling 1:14 Small Cap Company Defined 1:44 How To Get Shares To Short 2:07 Example Of Borrow Costs 3:22 You Must Qualify As A Trader ⚡️ Tax Free Wealth Training Course 😊 https://brian-rivera.mykajabi.com/tax... ⭐Schedule a Trader Tax CPA Consultation! https://calendly.com/tradertaxcpa/ 🧟♂️Follow me on Social Media https://instagram.com/brianriveracpa https://twitter.com/brianriveracpa 🤑 Click Here To View Our Free Day Trader Tax Resource Center🧠 https://www.tradertaxcpa.com/index.ph... For Related Videos on Day Trader Taxes: ✅ Why Active Day Traders Should Elect Mark-To-Market https://www.youtube.com/watch?v=ixkmG... ✅ Small Cap Short-Sellers Can Deduct Stock Locate Fees https://www.youtube.com/watch?v=kkgbT... ✅ Debunking The Top 3 Tax Myths! https://www.youtube.com/watch?v=oj1Hih0XN6Y&t=1047s 🖥️Some of My Favorite "Tax Deductible" Trading Tools: BenzingaPro - great for news and stock research https://pro.benzinga.com/tradertaxcpa... Scanz - great for scanning momentum stocks and news http://www.scanz.com?fpr=tradertaxcpa ⭐New to Trading/Investing? Take a baby steps with these introductory investing apps: ► Sign-up for Webull (Similar to Robinhood) Get 2 Free Stocks when you deposit $100 (valued up to $1650) https://act.webull.com/kol-us/share.h... ► Sign up for Robinhood and get a free stock! https://join.robinhood.com/brianr6125 ► Acorns - passive investing to help grow your loose change. Sign-up for a free $5! https://www.acorns.com/invite/?code=G... ___ DISCLAIMER: I am not a financial adviser but fortunately I am a CPA :). These videos are for educational and entertainment purposes only and should not be taken as "individualized" tax advice. Should you need advice I highly recommend consulting with a professional or our CPA Firm. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and/or use myself. Some of the links on this web page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing the content this channel.