On Wednesday, November 27, 2019 at 8:31:18 AM UTC-8, -=DirtBag wrote:
> My Son is on a roll! He is buying positions off the FOOL's site and banging them out to fill out our short term dance card for the year. If he buys a dud he just ejects with a stop-loss and if he has a winner he sets a trailing stop and lets it run. He seems pretty good at setting the stops. We are not selling anymore Long Term this year unless some ugly-noise starts singing out.
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> I usually just wing it and end up getting sacked by the IRS. This year WE are in control and had a plan. Letting the largest positions run into the next year and then trimming along the way. I have hardly any sizable tax deductions other than Health Care. Zero debt. But I discovered that I can to write-off my Great-Grandchildren's Pre-School costs. Which encourages me to continue to pay for them. I am shocked at what PRE-School costs are nowadays. A good Montessori Preschool can run $650-850 a month per child. Is this world GOING crazy or what?
Good for you on all accounts. I have a solar credit, major losses on the orange ranch and major losses on the packing houses. I doubt if I will pay any tax for this year or the next or next with the carryovers of deductions I cannot use. Our packing house was going to pay off all its Sunkist pension obligation (about $7M) and pay off the loan over the next few years. Our payments on the loan would be essentially the same as kicking the can down the road and just paying the minimum pension obligation each year, With that pension pay off, we would not be paying taxes for years. Not sure if that deduction would be a passthrough or just go against any packinghouse income. It would definitely carry over for several years.