You could, you know use the transaction report and run it in google sheets fairly easily. Not quite the same as having an official report mind but does the trick nicely.
Interesting thanks for links/comments. Glad mine is all in an ISA wrapper for now then, maybe one day I will invest outside it
I wonder why CGT become a problem for UK investors. You could have BABA under S&S ISA.
But to me even under general investment I will not be paying any CGT on BABA anyway as I believe it will take another few months for my current holding to turn green. Once they turn green I will exit.
This is one of the worst performing stock that I am currently holding.
I don’t get it. Regardless of with method your tax country uses, they are taxing your gains, and you can only get gains the “Trading 212” method, aka using weighted average.
Actually, what you see in T212 is just display. Real profits / returns have to be run against system used by your tax authorities.
So in reality for people which countries use FIFO method, the returns in t212 are misleading.
Thus I created request for feature to be able to choose method of display.
Let’s say I bought 1 share of BABA at $50, and then another one at $150.
The weighted average of my position is then $100.
If the price drops to $99 and I sell one share, this will result in $1 realised loss.
On the other hand (FIFO), it would mean that I sold the share which I previously bought at $50, realising a $49 profit.
All in all I have lost $2 form my investments broken down into:
- weighted average method: $1 realised loss and $1 of unrealised loss;
- FIFO method: $49 realised profit and $51 unrealised loss.
If my country uses FIFO, would I have to pay taxes on the $49 when in reality I have lost money?
@Richard.W What do you think?
Yes. I think that is correct. So you should plan accordingly. It might be better to sell more stock.
You have given an example where LIFO seems to work against you. But had the costs of the two lots been reversed, 150 before 50, then the sale would have realised a 51 loss which you would be able to set against other gains in the year and could save you tax compared to using average cost basis. So sometimes you lose with LIFO, relatively speaking compared to the average cost method. Other times you gain.
Thanks, completely agree that there are two sides of the LIFO coin.
My point was not whether it is good or bad, but the discrepancies that arise from using different approaches on the same data. I am not sure now if all the above is correct, how the national tax institutions would now that taxes on the $49 “profits” is due, when they would see in our statements from T212 that we declare a loss.
It really doesn’t matter what the Trading 212 statement shows. You should report your transaction history and compute the capital gains tax according to the rules of your taxing jurisdiction. Trading 212 cannot be expected to compute things differently for clients depending on their tax residence. Also, Trading 212 cannot take account of the fact that you might own shares in the same company on another platform.
Both ISAs and SIPPs have limits. SIPP even has limits and “sweet spots” after which investing in it looses some of its benefits (after 24K)
I have Baozun Inc. performing even worse, albeit being rather small
I’m confident this will do better!
Reversal started? Thoughts?
It seems. As soon as my stocks turn green I will be selling about 3/4 of my position to be used for other invesrment.
I might reenter if they fall again at he level we have seen recently.
I think I’ll just hire an accountant
Anyway everyone, did you all buy on the way down? I managed to get down to the mid 180’s average cost price on BABA.
I’m a mere spectator still.
It’ll probably end up the same as my Bitcoin opinion at $8k which will be nice.
Have you changed your views on the potential of this stock - of if you think stock B has more potential now, why wait to sell?
Not really but, I have been holding the bag for this stock for more than a year now and my position is quite big as I was doing DCA and keep dropping. When turn green I just want to reset the clock if possible. Theoretically the share price could still drop with where they were about a month ago.
if not never mind as I will use the money for other stocks that I believe to be a potential runner.
I thought of selling once I’m in profit as I’ve also been red for a long time also. Then I remembered I’d be selling on emotion by doing this.
The way I see it is that I still have conviction in BABA. If I had the confidence DCA and patience to wait, I can do the same while it (hopefully) continues to rise, and take some decent profit. Likewise I will continue to buy if it does dip again.
About $205-$210 for me. Hard to tell exactly, I have it split between ISA and GIA.
Only reason I may sell BABA core holding is if something fundmentally changes my opinion on it long term or maybe if it ran up so much it was too big a position, but this is unlikely as I generally am comfortable with large positions (top 2 are 35% of portfolio, top 5 are over 60%)