I started investing in March, and I just want a heads up before it’s too late because I might have a much bigger situation than I thought. I also have ADHD and definitely overtrade because of that, but I’m working on it and don’t allow myself to buy or sell more than one position a day now.
However, things weren’t always like that. I started investing on SoFi, and also opened my Roth there, then opened a TD Ameritrade account because they had Thinkorswim, then later did a rollover to a traditional IRA from a 401k from my last job. I also opened an account on Fidelity to try and get the credit card where the points go to your brokerage account.
I would definitely say that the stock market is my hobby now. I’ve researched (definitely not thoroughly enough at first) dozens and dozens of stocks, and bought and sold several times a day nearly every day for the past year. I am obsessive, I know. The different brokerages don’t keep track of wash sales between them, and also Fidelity has these things called baskets where you can place up to 50 market buys or sells on a basket of stocks with one purchase, and it also has rebalancing that doesn’t count against your PDT.
I’d say that I have low four digit numbers of transactions, buying and selling because I had not thought ahead of the implications of my actions. How bad could it possibly be at tax time, and is there anything I could do to make it easier for my tax preparer or to do it myself? I can learn quickly being young I just don’t want to cause any grievances with the IRA at my age.
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