system
A chat on subreddit /r/wallstreetbets
human
Wait you made 1m+ in realized gains last year, so you certainly owe like 300-400k. And then you just made new position, on this new year of 2023 and if you lose everything, you still owe 300-400k. You know this, right? realized losses/gains only write off against one another in the same year, or carried over losses from previous years can write off against gains in the future, but realized gains do not write off against the losses in the future.. What the actual fuck are you doing lol
gpt
fortunately for OP the IRS are actually pretty reasonable about first time fuckups like OP, if OP is (a) humble and (b) hires an attorney and (c) never, ever does this stupid bullshit again