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How are Options Taxed?

Want to trade options? Be sure you understand the tax implications first. Here are some basic things to consider when it comes to buying and selling these contracts on the open market:

Taxes for investors

IRS terminology doesn't always match the language used within the financial industry. For example, some people who consider themselves to be "traders" (aka day traders or active traders) are more likely to be considered "investors" by the IRS.

To be considered a trader by the IRS one must be in the "business of trading," which basically means trading is your day job. Those in the "business of trading" might want to consider meeting with a tax professional and reading IRS publication 550 and IRS Topic No. 429 Traders in Securities .)

For tax purposes, options can be classified into three main categories:

1. Employee stock options

These are generally options contracts given to employees as a form of compensation and aren't traded on the open market. There are two primary types: non-qualified stock options and incentive stock options.

Generally, the gains from exercising non-qualified stock options are treated as ordinary income, whereas gains from an incentive stock option can be treated either as ordinary income or can be taxed at a preferential rate, if certain requirements are met. To learn more about employee stock options, see How Should Equity Compensation Fit Into Your Financial Plan.

2. Equity options

These are options contracts on equities that can be traded on the open market. Puts or calls on individual stocks or ETFs that hold stocks are some examples.

How they're taxed depends on whether you have a long position (where you're the buyer of the option) or a short position (where you're the seller/writer of the option). The table below provides an overview, but be aware that if you're doing more complex options transactions, such as spreads or butterflies, the IRS may apply different tax rules (see below for more details).

Long options

Long Options (buy)
If you close the position before expiration
If you exercise the option
If the option expires
Long Options (buy) Long Call -->
If you close the position before expiration The holding period of the option determines if it's taxed at short- or long-term capital tax rates. -->
If you exercise the option • Exercising a call option increases the cost basis of the stock that is purchased. • There is no taxable event until the stock is finally sold. • Once sold, the holding period of the stock determines if the capital gain or loss is short- or long-term. -->
If the option expires The holding period of the option determines if the capital loss is short- or long-term. -->
Long Options (buy) Long Put -->
If you close the position before expiration Same as above. -->
If you exercise the option • Exercising a put option reduces the amount realized from the sale of the underlying stock by the cost of the put. -->
If the option expires Same as above. -->

Short options

Short Options (sell/write)
If position is closed before the expiration
If the option is exercised (assigned to you)
Short Options (sell/write) Short Call -->
If position is closed before the expiration Regardless of holding period, the capital gain or loss is always considered short-term. -->
If the option is exercised (assigned to you) • The capital gain or loss is treated as short- or long-term depending on your holding period for the stock. • The amount you received for writing the option is added to the amount received from the sale of the stock. -->
If the option expires Report the amount received for writing the option as a short-term capital gain. -->
Short Options (sell/write) Short Put -->
If position is closed before the expiration Same as above. -->
If the option is exercised (assigned to you) •Your holding period for the stock begins on the date you buy it. • If the put option is exercised and you buy the underlying stock, decrease the stock's cost basis by the amount received for writing the option. -->
If the option expires Same as above. -->

What about complex equity options strategies?

You can use options to pursue a variety strategies, among them writing covered calls , using spreads , straddles, strangles, butterflies, etc. Unfortunately, this is another situation where the IRS does not use the same language as investors, and that can lead to some confusion. The IRS groups most of these complex options strategies together and refers to them as a "straddle."

For tax purposes, a straddle occurs when you open an options position that offsets or substantially reduces the risk of loss for another position you're also holding. For example, if you held some $80 stock in XYZ corporation and bought a put option with a $70 strike price to protect against a price drop, you have created a straddle in the eyes of the IRS. In such cases, different tax rules apply:

Losses on straddles are generally deferred: If only one side of a straddle position is closed, any realized losses generally aren't deductible until the offsetting position is also closed out. Any losses are included in the basis of the remaining position and eventually recognized when the final position is closed. Note: Any loss that exceeds the unrecognized gain from an offsetting position can generally be deducted.
Qualified covered calls (QCCs) are not subject to the straddle rules: The IRS groups covered calls into two categories, qualified or unqualified, and each is taxed differently. Generally, QCCs are options written with an expiration date greater than 30 days and a strike price that is not "deep-in-the-money" (see IRS Publication 550 to learn more). If the covered call doesn’t meet these requirements, then it’s considered "unqualified" and is taxed as a straddle.
Offsetting section 1256 options are exempt from this rule: Straddles consisting entirely of Section 1256 options are not taxed as straddles (see more below).

The idea behind the straddle taxation rules is to prevent investors from deducting losses before an offsetting gain is recognized.

The wash sale rules generally apply to options

The same wash sale rules that apply to stock also apply to stock option trades. If a substantially identical security is acquired within 30 days before or after the sale occurs, the loss is disallowed and the basis is transferred to the new position.

3. Non-equity options taxation

This refers to options that be traded on the open market but are contracts on something other than equities or ETFs, such as commodities, futures, or broad-based stock market indexes. The IRS often refers to these options as "section 1256 contracts."

No matter how long you've held the position, Internal Revenue Code section 1256 requires options in this category to be taxed as follows:

60% of the gain or loss is taxed at the long-term capital tax rates
40% of the gain or loss is taxed at the short-term capital tax rates

Note: The taxation of options contracts on exchange traded funds (ETF) that hold section 1256 assets isn't always clear. Consult with a tax professional if you hold these types of investments.

In addition to the 60/40 split rule, if you hold section 1256 options contracts through the end of a calendar year and into the new year, you'll be required to recognize an unrealized gain or loss for each year based on the fair market value on Dec. 31. This is known as the marked-to-market rule, and it applies even if you don't sell that option. This activity also resets your cost basis (higher or lower) for the next calendar year. In addition, section 1256 contracts are not subject to the same wash sale rules as equity options.

Bottom line

Consider these some of the basics. Because the rules can be complex, we recommend options traders consider working with a tax professional who has experience in options taxation.

Learn about tax-smart strategies.

Watch Out for Wash Sales

Tax Credits: What They Are and How They Work

What Are Tax Brackets and Marginal Tax Rates?

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Covered Call Assignment – How To Avoid It & What To Do If Assigned

posted on May 5, 2023

Imagine you have a Covered Call right now and the underlying stock is now above your Covered Call strike price.

You’re panicking now because if you get assigned on the Covered Call, you will be Short 100 shares.

The worst part is that you don’t have the necessary capital to meet the margin requirement of Shorting the 100 shares.

And that would result in a margin call.

So what do you do?

And how do you avoid getting the risk of early assignment on your Covered Call?

What Happens When You’re Assigned On Your Covered Call?

Let’s assume you already own 100 shares of Amazon (Ticker: AMZN).

Then you sell a Covered Call at the strike price of 135.

If AMZN settles anywhere above $135 at the expiration date of the Covered Call, then your 100 shares will be called away at that price.

That means your 100 shares would be sold at $135.

When Are You In Danger Of Early Assignment?

So when is your Covered Call in danger of getting assigned early?

There’s always the possibility of early assignment when:

Your Covered Call is In-The-Money (ITM). That means the current stock price is above your Covered Call strike price.
And when your Covered Call is close to expiration.
And when your extrinsic value is very little.
And if the stock pays a dividend, you could get assigned early if the dividend paid is more than the extrinsic value.

In short, the main factor that determines whether you are in danger of getting assigned early is when the extrinsic value is very little.

That’s because when there’s little extrinsic value left in your Covered Call, there’s not much incentive left for the buyer to hold on to the Call Option.

So it’s very important to pay attention to how much extrinsic value is left in your Covered Call.

The good news is that getting assigned early is actually very rare.

To understand a little better why this is so, we need to get into the minds of the Call buyer (the person taking the opposite trade of your Covered Call).

Understanding The Mindset of Call Buyers

For this, let’s use the same example as we did earlier.

And let’s also assume that for selling the 135 strike price Covered Call you received a premium of $1.50.

Now let’s switch sides and imagine you’re now the Call buyer that just purchased the Call Option for $1.50.

Next, we want to come up with the different scenarios that might happen and see if you would exercise your Call Option early for each of them.

Scenario 1: Stock goes to $140.

In this scenario, the stock has gone up to $140 and your Call Option has now increased to $6.00:

$5.00 in intrinsic value.
$1.00 in extrinsic value.

By exercising your Call Option, you would be buying 100 shares of the underlying stock at $135.

And you will forfeit your extrinsic value of $1.00.

Knowing this, would you exercise your Call Option?

Let’s compare exercising versus selling off your Call Option.

If you exercise and you sell off your shares immediately after exercising, your profits would be:

[($140 – $135) x 100 shares] – $150 for purchasing the Call Option = $350

If you just sold off your Call Option, your profits would be:

($6.00 – $1.50) x 100 shares = $450

As you can see, you would have made more money if you had simply sold off your Call Option.

That’s because the extrinsic value boosted your profits.

But if you exercised your Call Option, you forfeited the extra $100 in profits.

Furthermore, exercising can come with extra fees from some brokers.

So in this scenario, it’s highly unlikely that the Call Buyer would exercise their Call Option, even if it’s ITM.

Scenario 2: Stock goes to $150.

Now what if the stock went higher to $150 instead?

In this scenario, your Call Option is now worth $15.25:

$15.00 in intrinsic value.
$0.25 in extrinsic value.

If you are the Call Buyer, would you exercise your Call Option now?

If you do, you’d be giving up $0.25 in extrinsic value.

That’s $25 in additional profits that you would miss out on by exercising.

I’m pretty sure it’s unlikely that you would exercise because I wouldn’t as well.

While $25 may not be much, it’s still money that we leave on the table by exercising.

So it makes no sense for us to exercise the Call Option and get into a Long stock when there’s still lots of time left before expiration.

If we really wanted to buy the stock, we still can wait till the last few days to expiration before deciding whether to exercise the Long Call or not.

So as you can see, extrinsic value plays a big part in the Call buyer’s decision whether to exercise the Call Option or not.

Scenario 3: Stock goes to $140 but goes ex-dividend tomorrow paying a dividend of $0.50.

This scenario is similar to scenario 1, but the difference is that the stock will be paying a dividend.

This is where a Short Call can have dividend risk.

That means that the Call buyer may want to exercise their Option to get into a Long stock position to get the dividends.

So in this scenario, your Call Option’s value is the same as scenario 1 which is $6.00:

However, the underlying stock will be paying a dividend of $0.50.

If you’re the Call buyer, would you exercise your Long Call?

Let’s compare exercising versus selling the Call Option.

If you exercise it, you will forfeit the $1.00 in extrinsic value, but gain the dividend of $0.50.

But if you sell the Call Option, you will forfeit the $0.50 dividend, but profit on the $1.00 in extrinsic value.

So in this scenario, you would gain more by simply selling the Call Option.

Hence, it’s for the Covered Call to get assigned in this scenario.

Scenario 4: Stock goes to $150 but goes ex-dividend tomorrow paying a dividend of $0.50.

This scenario is similar to scenario 2 but the stock goes ex-dividend tomorrow with a dividend payout of $0.50.

In this scenario, your Call Option’s value is $15.25:

But there’s a dividend payout of $0.50.

In this scenario, if you were the Call buyer, would you exercise your Long Call?

If we applied the same analysis as in scenario 3, then we would know that it makes sense to exercise the Call Option now because the dividend is greater than the extrinsic value.

That means by exercising the Call Option, you’d gain an additional $0.25 compared to if you hadn’t exercised your Long Call.

So in this scenario, there’s a high likelihood of getting assigned early.

How To Avoid Early Assignment

So how do you avoid the risk of early assignment?

By rolling your Covered Call .

When you roll, you’re adding duration to your Covered Call.

And by adding duration, you’re adding extrinsic value.

Remember, extrinsic value is simply time value.

The more days left to expiration, the more extrinsic value there is.

Additionally, when rolling, you have the choice to roll your Covered Call up as well.

That means you roll to a higher strike on top of rolling to a further expiration date.

This way you increase the chances of Covered Call working out.

But what if you’re already assigned?

If you’re already assigned and your shares have been called away, there are 3 things you can do:

Buy your shares back immediately if you’re afraid the stock will continue rallying.
Wait for a pullback before buying again.
Sell a Cash Secured Put at the price you were called away.
Find other trades.

At the end of the day, having your shares called away isn’t the end of the world.

You’ve already made a profit (assuming your Covered Call was above your entry price), and you can always find another trade.

And if you think the stock will keep going up in the long term, then just buy back the stock because you would still be in profit if you’re right on your long-term view.

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The Current Tax Rates

How to report gains and losses, using tax lots to your advantage, strategies for tax minimization, the bottom line.

Portfolio Management

How to Use Tax Lots to Pay Less Tax

When it comes to taxing investments, not all shares are created equal

Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas' experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.

A series of tax bills in recent years, culminating in the Tax Cuts and Jobs Act (TCJA) of 2017, has given investors a tremendous opportunity for savings on long-term capital gains and dividends. But the way to take full advantage of these changes is to use tax lots in managing your investment purchases and sales, and reporting that income to the Internal Revenue Service (IRS).

Securities purchased in a single transaction are referred to as "a lot" for tax purposes. In other words, a tax lot is a record of all transactions and their tax implications (dates of purchase and sale, cost basis, sale price) involving a particular security in a portfolio. Thinking in terms of tax lots can help an investor make strategic decisions about which assets to sell and when, making a big difference in the taxes owed on those investments.

key takeaways

A tax lot is a record of all transactions and their tax implications (dates of purchase and sale, cost basis, sale price) involving a particular security in a portfolio.
Thinking in terms of tax lots can help an investor make strategic decisions about which assets to sell and when in a tax year.
In particular, your choice of cost basis method can have a significant effect on the computation of capital gains and losses and significantly impact the taxes owed on those investments.

The current rates, instituted by the Tax Cuts and Jobs Act, are intended to stay in place through 2025. However, as of the date of this article, there are significant changes being proposed by Congress that could increase these rates. If passed in its current form, some tax increases could be made retroactively. It's important to keep abreast of these proposals for tax planning purposes. You can visit the Tax Foundation website to access the latest information.

The tax rate on long-term capital gains tops out at 20% for single filers who report over $492,300 or more in income in 2023; for married folks filing jointly, it's $553,850. The rate drops to 15% for those who make between $44,625 and $492,300 ($89,250 to $553,850 for couples) and it's 0% for those whose income is under those respective minimums. To get these rates, the filer must have owned the investment for at least one year.

Short-term capital gains are taxed as ordinary income. The Act established seven income tax brackets ranging from 10% for low-income earners to 37% for top earners. Below is a quick look at how your dividends , short-term capital gains, and long-term capital gains will be taxed on your stocks, bonds, and mutual funds, depending on your tax bracket.

In addition to the rates listed in the table, higher-income taxpayers may also have to pay an additional 3.8% net investment income tax.

As you can see from the chart, short-term capital gains receive the least-favorable tax treatment and should be avoided in most cases. It is important to note that the reduced tax rate for dividends applies only to qualified dividends. That is, the reduced rate does not apply unless the dividend is received on a security held for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date .

Form 1099-DIV breaks down ordinary and qualified dividends for you for tax purposes. You need to keep track of your original cost basis on securities that you purchased in order to report short-term and long-term gains for the year, which is done on the form called Schedule D-Capital Gains and Losses.

When computing your capital gains, the short-term gains and losses are first netted, and then long-term gains and losses are netted. You can then net the two results together to compute your overall result. Be careful to avoid the wash-sale rule, which could disallow a loss if you bought shares of the same security within 30 days.

Your choice of cost basis method can have a significant effect on the computation of capital gains and losses when you sell shares. For mutual fund shares, there are three common ways to identify the cost basis of the shares that you are selling:

FIFO (first-in, first-out)
The average-cost method
The specific-share method

For individual stocks and bonds, you can use:

LIFO (last in, first out)
The specific-shares method

Most people choose the FIFO method because it is the default in most software packages, and it's convenient for tracking cost basis. But take a look at how the specific-shares method can help you minimize your gains compared to those standard FIFO or LIFO methods. This is what is meant by selecting specific tax lots.

Suppose, for example, that you are in the 32% tax bracket and you made the following purchases of XYZ stock over a two-year period.

Now, suppose that you need to sell 800 shares of XYZ and you want to minimize your tax consequence:

Total $2,140

Under the FIFO method, you would sell the first 800 shares that you purchased two years ago, resulting in a long-term gain of $20,000, with a tax bill of $3,000. If you choose to sell a specific tax lot instead, you can sell your most expensive shares first, even though they were held short-term, and still have a lower tax bill of $2,140.

Tracking securities by tax lot is a great way to minimize the taxes you owe on your gains. Keep in mind that it requires you to keep accurate records and always sell your highest-cost positions first.

Other ways to minimize taxes:

Avoid short-term gains. This is a good general rule of thumb. That said, it occasionally makes sense to sell a newer position first, if it means a much lower capital gain.
Avoid high-turnover funds and stocks. They generate commissions, transaction costs , and higher tax liabilities . If you're going to do a lot of trading, make sure that every decision is worth it from a tax perspective.
Use tax-managed funds. These mutual funds are structured to reduce tax liability. Their managers invest in the same stocks as other funds, but seek to minimize the year-end distributions of capital gains by less buying and selling within the fund.
Sell your losers. Harvest your losses and use them to offset gains. Don't be afraid to generate losses that carry forward for future years.

There are a number of methods of determining your gain or loss on the sale of a security. You must determine the method that works best for you and stick with it. Although the first-in, first-out method might be the easiest to calculate and track, it might not always be the most advantageous.

If you do take advantage of the specific-shares method, make sure you receive a written confirmation from your broker or custodian acknowledging your selling instructions.

Investopedia does not provide tax, investment, or financial services and advice. The information is presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Investing involves risk, including the possible loss of principal. Investors should consider engaging a qualified financial professional to determine a suitable investment strategy.

TD Ameritrade. " Understanding Tax Lots ."

115th Congress, 1st Session. " Tax Cuts and Jobs Act ."

Internal Revenue Service. " Rev. Proc. 2022-38 ," Pages 8-9.

Internal Revenue Service. " Topic No. 409 Capital Gains and Losses ."

Internal Revenue Service. " IRS Provides Tax Inflation Adjustments for Tax Year 2023 ."

Internal Revenue Service. " Rev. Proc. 2022-38 ," Pages 5-8.

Internal Revenue Service. " Questions and Answers on the Net Investment Income Tax ."

Internal Revenue Service. " Instructions for Form 1099-DIV ," Page 2.

Internal Revenue Service. " About Schedule D (Form 1040), Capital Gains and Losses ."

Internal Revenue Service. " Publication 550 ," Page 56.

Internal Revenue Service. " Publication 550 ," Page 44.

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Definitions

Cost Basis/Share
Cost Basis Source
Date Acquired
Holding Period
Shares Available
Shares Specified
Unrealized Gain/(Loss)

Trading Specific Shares

What is the advantage of selling shares using the specific shares cost basis method, how do i initiate a trade for specific shares, how many tax lots can i specify, how are the lots available for trading displayed, what are the options for sorting lots by cost, what if fidelity doesn't display all of my tax lots, once my tax lots have been sorted, how can i make changes to the quantity of specified shares to be sold, what is tax lot priority, can i choose the same tax lots for multiple orders of the same security, if the cost basis information fidelity has maintained differs from my tax records, how can i enter my own cost basis information, can i change the tax lot(s) i have selected after i have entered my order, what confirmation do i receive for specific shares orders, does fidelity report specific share information to the irs.

Because you can choose the tax lot(s) you are selling, selling specific shares gives you more control over the gain or loss realized by a sale. If you sell tax lots with higher cost, you may expect a lower realized capital gain. Conversely, if you sell tax lots with lower cost, you may expect a higher realized capital gain.

On the Trade Stocks, Trade Options, or Enter Funds to Sell or Buy pages, select the Choose Specific Shares check box, then click Continue when you've specified the rest of your order details.

You can choose up to 200 tax lots for a security you hold in your account. You can also manually enter tax lots using the cost basis information from your records. Note that Fidelity does not validate tax lot shares that you enter manually. Ultimately, it is your responsibility to maintain accurate tax lot records.

Since the shares you hold may have been acquired at different times and different prices you can choose to have your shares sorted by long-term shares (with a holding period of greater than one year) or short-term shares (with a holding period of one year or less). A secondary sorting option allows you to sort the shares you hold by highest or lowest cost. In addition, you can attempt to minimize your gain or loss. If you do not request a specific sort option, the tax lots will be displayed in first in, first out (FIFO) order - that is, oldest shares acquired to the newest shares acquired.

If you decide to sort by cost, you can sort and pre-select your specific shares as follows:

Based on the tax lots with the highest cost basis per share information (generally results in the lowest capital gain or highest capital loss).
Based on the tax lots with the lowest cost basis per share information.
With the intent of providing a $0.00 gain or loss amount.

Cost basis and unrealized gain/loss information is based on the prior business day's closing price or Net Asset Value (NAV) for the security traded. Fidelity does not guarantee that that you will achieve the desired outcome.

Check your cost basis on the Positions page to determine if Fidelity has cost basis information for all of your holdings. If you transferred securities to your Fidelity account from another financial institution or another Fidelity account, you may need to provide Fidelity the original cost basis for those shares. There is a one-business-day delay from the time you provide cost basis information to Fidelity to the time when all of your cost basis is displayed and available.

Although Fidelity sorts, prioritizes and preselects tax lots to expedite your order, you may choose from additional tax lots and make changes to the quantity of shares from each tax lot by simply typing over the share quantities displayed. You can't specify more shares than the total for the order. If you specify fewer shares than the total for the order, Fidelity will calculate the gain/loss for any unselected shares based on the first in, first out cost basis method.

If your order receives multiple executions, the first tax lots selected will be used to determine the gain/loss for the shares executed. The shares sorted and selected first (at the top of the list of tax lots) have the highest priority.

No. If you enter multiple sell orders on the same security, you cannot select the same tax lots for each order.

You can manually enter your own tax lot information based on your records by selecting Enter Tax Lots on the Specify Shares page. Fidelity will report the tax lot(s) you enter on your trade confirmation. However, Fidelity can't update your cost basis tracking information with the details you provide.

No. You cannot change your tax lot selection on Fidelity.com after you have entered your order. A Fidelity representative may be able to help you correct the tax lot information you entered.

The tax lot specific share information is printed on the confirmation you receive via U.S. mail, and is included in the trade confirm page that you can view under the Confirms tab at Accounts & Trade > Statements.

No. Fidelity provides cost basis information as a courtesy service and does not report this information to the IRS. You are ultimately responsible for calculating your cost basis and gain/loss information and/or determining whether the cost basis information provided by Fidelity is appropriate for your federal tax reporting. Positions associated with an equity compensation plan or employee stock purchase plan may be treated as ordinary income rather than a capital gain for income tax purposes.

A Comprehensive Guide to Tax Lot Method

Investing in the stock market can be a complex task, and managing your investments can be even more challenging. One aspect of investing that can be confusing is how to calculate capital gains and losses. The tax lot method is a popular way of calculating these gains and losses. In this comprehensive guide, we will explore what the tax lot method is, how it works, and why it is essential for investors.

What is Tax Lot Method?

The tax lot method is a way of accounting for the purchase and sale of securities that allow investors to track the cost basis of individual lots of securities. It is simply a group of shares that were purchased at the same time and for the same price. When an investor buys or sells securities, they can choose which tax lots to use to calculate the cost basis of the transaction.

Importance of Tax Lot Method in Investment Management

The tax lot method holds immense importance in investment management due to its multifaceted benefits that cater to both investors’ financial goals and regulatory compliance. One of the primary advantages lies in its ability to enhance tax efficiency . By considering the unique characteristics of each tax lot, investors can strategically select lots for sale that align with their specific tax goals.

Why Does the Tax Lot Method Matter for Your Investments?

The tax lot method might sound fancy, but it’s pretty important for your investments. Imagine you bought 100 shares of a company’s stock on different days and at different prices. Instead of treating all these shares the same, the tax lot method lets you keep track of each batch separately. This comes in handy when you decide to sell, transfer, or make other moves.

But the real magic happens when it comes to taxes. It helps you be smart about which investments to sell. By picking the right ones, you can manage your taxes better, and that’s where the best personal finance software come in handy. It’s like having a financial wizard on your side.

How does the Tax Lot Method Work?

It works by identifying which shares of an investment were purchased at what price and on what date. When shares are sold, this method identifies which specific shares are being sold based on their purchase date and price. The gain or loss is then calculated based on the difference between the sale price and the purchase price of those specific shares.

It is important because it is a way for investors to determine the cost basis of their securities for tax purposes. The cost basis is the amount of money that an investor has invested in a security, and it is used to calculate the capital gains or losses that are subject to taxation.

Using this method , investors can choose which securities to sell in order to minimize their tax liability. By selecting the securities with the highest cost basis, investors can reduce their taxable gains and keep more of their profits.

Understanding the Importance of Tax Lot Method

Cost Basis Tracking: The tax lot method enables investors to track the cost basis of individual securities accurately. By knowing the purchase price of each tax lot, investors can calculate capital gains or losses with greater precision when selling or disposing of securities.
Capital Gain Optimization: The ability to select specific tax lots when selling securities provides investors with opportunities to optimize capital gains or losses. Through strategic selection, investors can minimize their tax liabilities and retain more of their investment returns.
Compliance with Tax Regulations: Tax lot accounting ensures compliance with tax regulations and reporting requirements. By maintaining accurate records of cost basis and capital gains, investors can avoid potential tax penalties and errors in tax reporting.

Tax Lot Methods

First-In, First-Out (FIFO): The FIFO method assumes that the first shares purchased are the first shares sold. It is a straightforward approach and is widely used by investors to determine capital gains or losses based on the order of purchase.
Last-In, First-Out (LIFO): The LIFO method assumes that the most recently acquired shares are the first ones sold. This approach can result in different tax implications compared to FIFO and may be used strategically to manage tax liabilities.
Highest Cost: The highest cost method selects the tax lot with the highest purchase price as the one sold first. This method can be beneficial when investors want to minimize capital gains or maximize losses for tax purposes.
Lowest Cost: The lowest cost method prioritizes the tax lot with the lowest purchase price for sale. This strategy is useful when investors aim to realize higher capital gains or lower losses.

Conclusion: The tax lot method is an essential aspect of investment accounting, particularly for those with complex and diverse portfolios. By providing a detailed record of each security acquisition and sale, investors gain valuable insights into their cost basis, capital gains, and tax liabilities. Understanding the tax lot method empowers investors to make informed decisions, optimize their investment strategies, and stay compliant with tax regulations

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Password should contain at least one each of upper and lower case characters (e.g., az, A-Z)
Password should contain at least one special character (e.g. !@#$%^&*()+=)
The system should not allow reusing the last 3 passwords.
The system should not allow using the user’s first and or last name used in the system.
The system should not allow using a username, email id, or phone no. used in the system.
Password should not be allowed to contain a sequence of repeated characters e.g. aaa123 is an invalid password

Asset Vantage Software Licensing Agreement

This is a binding legal agreement between the natural person or legal person (“ Licensee ” or “ you ”) agreeing to these terms of service (“ Agreement ”) and Asset Vantage Inc. (“ Company ” “ us ,” or “ we ”). This Agreement along with any other terms and policies referenced herein, and are incorporated herein by reference form an integral part hereof, as amended from time to time and constitute a legally binding agreement as of the Effective Date (as defined below). This Agreement is between the Company and you, either individually, or on behalf of your employer or any other entity which you represent (“you” or “your”). In case you represent your employer or another entity, you hereby represent that (i) you have full legal authority to bind your employer or such entity (as applicable) to this Agreement; and (ii) after reading and understanding this Agreement, you agree to the terms of this Agreement on behalf of your employer or the respective entity (as applicable), and this Agreement shall bind your employer or such entity (as the case may be). Please note that you are deemed as an Authorized User ( defined below ) representative of your employer or an entity (as applicable) if you are using your employer or an entity’s email address in registering into the service.

You acknowledge that this Agreement is binding, and you affirm and signify your consent to this Agreement, by either: (i) clicking on a button or checking a checkbox for the acceptance of this Agreement; or (ii) subscribing/registering for using or accessing the service, sites or any of our mobile application, whichever is earlier (the “ Effective Date ”).

If you do not agree to comply with, and be bound by, this Agreement or do not have authority to bind your employer or any other entity (as applicable), please do not accept the terms under this Agreement or access or use the service or the sites or any of our mobile application.

1. Definitions: For purposes of this Agreement, the following terms have the following meanings:

“Authorized Users” means the individual persons who are officers, employees or advisors to the Licensee (or who are Families or CPAs to Families) expressly authorized to use the Software by the Licensee pursuant to the license granted under this Agreement, provided that a User License may be reassigned from time to time by Licensee to a new Authorized User who is replacing a former Authorized User who is no longer permitted to use the Software.

“ Confidential Information ” Confidential Information shall include, but not be limited to:

any information provided by one Party to the other Party, or developed by one Party for the other Party within the framework of this Agreement, including credentials supplied by the Company to the Licensee to access the Software Platform;
all improvements, research, data, materials, products, technology, specifications, manuals, plans, samples, procedures, know-how, concepts, teaching or development techniques, intellectual property, pricing methods, formulas, other information not generally known outside of the Party and its affiliates, and other ideas related to the Party whether existing tangibly or intangibly in oral, written, electronic or other forms;
data collected during any sales effort;
names, identifying information, or other information regarding a Party’s customers, employees, independent contractors or other associates;
information generated or obtained in connection with the Parties’ pricing, proposals or contracts (including the provisions of this Agreement);
the Parties’ procedures, programs, guidelines or policies;
information designated in writing as “confidential”;
anything that any court or law of any jurisdiction governing the objects of this clause deems confidential or privileged, or
anything that, upon disclosure, could be detrimental to the interests of a Party or any of a Party’s clients, members, or employees, whether or not the Company identifies the information as confidential or privileged. Each Party acknowledges that the Confidential Information of the other Party constitutes valuable confidential and proprietary information.

However, neither Party’s Confidential Information shall include any information that:

was known by the receiving Party at the time of disclosure to it by the disclosing Party, or that is independently developed or discovered by the receiving Party, after disclosure by the disclosing party, without the aid, application or use of any item of the disclosing Party’s Confidential Information, as evidenced by written records;
is now or subsequently becomes, through no act or failure to act on the part of the receiving Party, generally known or available;
is disclosed to the receiving Party by a third party authorized to disclose it; or
is required by law or by court or administrative order to be disclosed; provided, that the receiving Party shall have first given prompt notice to the other Party of such required disclosure.

“Documentation” means user manuals, technical manuals and any other materials made available by Company, in electronic or other form, that describe the operation, use or technical specifications of the Software.

“Intellectual Property Rights” means any and all registered and unregistered rights granted, applied for or otherwise now or hereafter in existence under or related to any patent, copyright, trademark, trade secret, database protection or other intellectual property rights laws, and all similar or equivalent rights or forms of protection, in any part of the world.

“Person” means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association or other entity.

“Software” means platform procured by the Licensee as software as a service (SaaS) and all modifications thereto from the Company. This includes any technical documentation, instructions, etc., regarding the software. The software also includes a series of instructions, rules, routines, or statements that allow or cause the software to perform a specific operation or series of operations, the recorded information comprising viewing design details, algorithms, processes, flow charts, formulas, related material that would enable the computer program to be produced or created, graphical interface, images, design materials, and scheme design.

“Term” has the meaning set forth in Clause 11 of this Agreement.

“Third Party” means any Person other than Licensee or Company.

Scope and Grant of License .
Subject to Licensee’s compliance with all terms and conditions set forth in this Agreement and regular payment of the License Fee, the Company hereby grants to the Licensee a non-exclusive, non-transferable, non-sub-licensable and revocable limited license during the Term to use, solely by and through its Authorized Users, the Software along with the Documentation (“ Software Platform ”), solely as set forth in this Clause 3. This license grants Licensee the right, to use and access the Software Platform in accordance with this Agreement which more particularly set out in Appendix III (“ Scope ”) and the Documentation. By entering into this Agreement, the Licensee agrees to be legally bound by its terms and conditions.
The Licensee acknowledges and agrees that pursuant to the license, the Licensee shall not acquire any ownership interest in the Software Platform or any other rights thereto other than to use the Software Platform in accordance with the license granted, and subject to all terms, conditions, and restrictions, under this Agreement. Further, the Licensee acknowledges and agrees that the Company has only granted the Licensee the license to use the Software Platform as per the terms of this Agreement and the Software Platform is not being sold to the Licensee.
License Fee . Licensee agrees to pay for the Software Platform a [monthly/annual] fee as set out in the Appendix I (“ License Fee ”) for the Term.
Use Restrictions.
Licensee shall not, and shall ensure its Authorized Users do not, either directly or indirectly:
provide any other Person, other than Authorized Users, with access to or use of the Software Platform;
modify, amend, translate, adapt or otherwise create derivative works or improvements, whether or not patentable, of the Software Platform or any part thereof;
combine the Software or any part thereof with, or incorporate the Software or any part thereof in, any other programs;
reverse engineer, disassemble, decompile, decode, modify, amend or otherwise attempt to derive or gain access to the source code of the Software or any part thereof;
remove, delete, alter or obscure any trademarks or any copyright, trademark, patent or other intellectual property or proprietary rights notices provided on or with the Software Platform, including any copy thereof;
rent, lease, lend, sell, sublicense, assign, distribute, publish, transfer or otherwise make available the Software Platform, or any features or functionality of the Software Platform, to any Third Party (other than Authorized Users) for any reason;
use the Software Platform in violation of any law, regulation or rule;
use the Software Platform for purposes of developing or assisting a third party in developing a competing software or platform, product or service or any other purpose that is to the Company’s commercial disadvantage.
use the Software for purposes of competitive analysis or the development of a competing software product or service or product having the same and/or similar function as the Software Platform.
This Agreement does not grant the Licensee any rights whatsoever in relation to the Company’s trademarks or service marks; and
The Licensee shall not use the Software Platform into any country in violation of any export control laws or regulations.
Responsibility for Use of Software .
The Licensee is responsible and liable for all uses of the Software Platform through access thereto provided by Licensee, directly or indirectly. Specifically, and without limiting the generality of the foregoing, the Licensee shall at all times be responsible and liable for all actions and omissions of the Authorised Users. If the Company at any time determines that the Licensee’s use of the Software is in excess of the Scope then:

a. The Licensee shall, within thirty (30) days following the date of Company’s written notification thereof, pay to Company the additional License Fees for such excess use. In determining the License Fee payable pursuant to the foregoing, unless Licensee can demonstrate otherwise by documentary evidence, all previously unknown excess use of the Software shall be deemed to have commenced on the commencement date of this Agreement and the rates for such licenses shall be determined without regard to any discount to which the Licensee may have been entitled had such use been properly licensed prior to its commencement (or deemed commencement); and

b. The Company reserves the right to forthwith terminate this Agreement and initiate the legal proceedings against the Licensee for breach of terms of this Agreement and recovery of the amounts due.

The Licensee shall use commercially reasonable efforts to safeguard the Software Platform from infringement, replication in any form, misappropriation, theft, misuse, or unauthorized access. Licensee shall promptly notify the Company if Licensee becomes aware of any violation of Company’s Intellectual Property Rights in the Software Platform.
Support Services .
Subject to Clause 8.1, during the Term of this Agreement, the Company may provide basic software support services described in the pricing proposal as set out in Appendix I.
The Company shall have a right to stop providing support services if the Licensee and/or any of it Authorised Users:
breach any of the terms of this Agreement; or
use the Software Platform in excess or not in accordance with the Scope
The Company may provide updates and maintenance on the Software at its sole discretion.
Collection and Use of Information .
Licensee acknowledges that Company may, directly or indirectly through the services of Third Parties, collect and store information regarding use of the Software and about equipment on which the Software is used or through which it otherwise is accessed and used, through the provision of support services.
Licensee agrees that the Company may use such information for any purpose related to any use of the Software by Licensee or on Licensee’s equipment, including but not limited to:
improving the performance of the Software; and
verifying Licensee’s compliance with the terms of this Agreement and enforcing the Company’s rights, including all Intellectual Property Rights in and to the Software.
Confidential Information .
In connection with the performance of the Parties’ obligations under this Agreement, each Party may provide to the other Party, and the other Party shall have access to, the first Party’s Confidential Information. Notwithstanding any other content of this Clause 9, Licensee hereby permits the Company to use the Licensee’s name in the Company’s marketing material to the limited extent of identifying the Licensee as a customer that uses the Software Platform.
Each Party shall exercise due care to prevent the unauthorized use or disclosure of the other Party’s Confidential Information, and shall not, without the other Party’s prior written consent: (a) use the other Party’s Confidential Information for any purpose other than performing its obligations under this Agreement; or (b) disclose or otherwise make available, directly or indirectly, any item of the other Party’s Confidential Information to any person or entity other than those employees, independent contractors, agents or investigators of such Party and/or its affiliated entities (collectively, “ Representatives “) who reasonably need to know the same in the performance of such Party’s obligations under this Agreement, or in order to make decisions or render advice in connection therewith. Each party shall protect the confidentiality of the Confidential Information of the other party with the same degree of care, as such party uses to protect its own Confidential Information, and in no event, less than reasonable care. For the convenience of the Parties, each Party acknowledges that unless precluded in writing by the other Party, Confidential Information may be transmitted to a Party and/or its Representatives via the Internet.
In the event of an actual or threatened breach of the above confidentiality provisions, the non-breaching Party shall have no adequate remedy at law and shall be entitled to immediate injunctive and other equitable relief, without bond and without the necessity of showing actual money damages.
Intellectual Property Rights .

Licensee acknowledges and agrees that the Software Platform is provided by the Company under a non-exclusive, non-transferable, non-sub-licensable, revocable license. The Licensee shall not have any interest in the Software Platform including but not limited to any ownership interest in the Software Platform or any other rights thereto other than to use the same in accordance with the terms of this Agreement. The Company reserves and retains its entire right, title and interest in the Software Platform and all Intellectual Property Rights arising out of or relating to the Software Platform. The Licensee shall use all efforts to safeguard the Software Platform from infringement, misappropriation, theft, misuse or unauthorized access. The Licensee shall promptly notify the Company if the Licensee becomes aware of any violation of the Company’s Intellectual Property Rights in the Software Platform and fully cooperate with the Company in any legal action taken by Company to enforce its Intellectual Property Rights. The Licensee acknowledges and agrees that the Licensee, and not the Company, shall be solely responsible for the investigation, defense, settlement and discharge of any intellectual property infringement claim or suit, or any other harm or damages resulting from Licensee’s use of or access to the Software Platform.

Term and Termination .
This Agreement and the license granted hereunder shall remain in effect for the term set forth in the order form as set out in Appendix I. The license is valid for a period of 12 months from the date of activation (“Term”) unless otherwise indicated in the order form as set out in Appendix I. This Agreement will renew automatically for another twelve month period at the expiration date (“ Extended Term ”) unless the Licensee provides a written notice of termination sixty (60) days prior to the date of expiry of the License.
Without prejudice to any other rights or remedies and notwithstanding anything contained in Clause 11.1 above, the Company shall have an unfettered right to terminate this Agreement at any time upon Licensee’s failure to comply with all the terms and conditions of this Agreement.
Company may terminate this Agreement, effective immediately, if the Licensee files itself, or any other Person has filed against the Licensee (and fails to obtain a dismissal within sixty (60) days thereof), a petition for voluntary or involuntary bankruptcy or pursuant to any other insolvency law, makes or seeks to make a general assignment for the benefit of its creditors or applies for, or consents to, the appointment of a trustee, receiver or custodian for a substantial part of its property.
Upon expiration or earlier termination of this Agreement, the license granted hereunder shall also terminate, and Licensee shall cease using and destroy (to the extent reasonably practicable) all copies of the Software Platform. No expiration or termination shall affect Licensee’s obligation to pay all Licensee Fees that may have become due before such expiration or termination, or entitle Licensee to any refund, in each case except as set forth in Clause 11.3.
Limited Warranties, Exclusive Remedy and Disclaimer/Warranty Disclaimer .
The Company warrants that, during the Term, the Software will substantially contain the functionality described in the Documentation, and when properly accessed and used on a computer (as per requirements specified in the Documentation) and operated in accordance with the Documentation the Software shall substantially perform in accordance therewith. However, the Company does not represent or warrant that any and/or all errors will be corrected and that any and/or all incidents will be prevented or corrected.
The warranties expressly set forth in this Clause will not apply and will become null and void (i) if Licensee breaches any provision of this Agreement, and/or (ii) if Licensee and/or any Authorized User and/or any other Person to whom access to the Software is provided , whether or not in violation of this Agreement:
uses the Software Platform on or in connection with any hardware or software not specified in the Documentation, provided that the warranties in this Section shall continue to apply to Software that is installed or used on any hardware, software, configuration or operating system in accordance with the Documentation; or
misuses the Software, including any use of the Software other than as specified in the Documentation.
During the Term of this Agreement, if the Software fails to perform substantially in accordance with the Documentation, and such failure is not excluded from warranty pursuant to Clause 12.1, the Company will, at its sole option, use commercially reasonable efforts to repair the Software, provided that Licensee provides Company with all information which the Company requests to resolve the reported failure, including sufficient information to enable the Company to recreate such failure. Provided further that, the Licensee shall within 5 days after such failure has occurred, notify in writing to the Company informing about the failure. The Licensee acknowledges and agrees that the Software Platform may produce inaccurate results because of a failure or fault within the Software Platform for reasons not attributable to the Company or failure by Licensee to properly use and/or deploy the Software Platform. The Licensee assumes full and sole responsibility for any use of the Software Platform and bears the entire risk for failures or faults within the Software Platform on account of reasons not attributable to the Company. Licensee agrees that regardless of the cause of failure or fault or the form of any claim, the Company’s obligation if any shall be governed by this Agreement. Further, the Licensee acknowledges that the remedies set forth in this Clause 12.3 are Licensee’s sole remedies and Company’s sole liability with respect to the warranties provided in this Clause 12.
The software and documentation are provided to licensee on an “as is where is” basis and with all faults and defects without warranty of any kind other than as expressly set forth in this Clause 12. The Company, on its own behalf and on behalf of its affiliates expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the software and documentation, including all implied warranties of merchantability, fitness for a particular purpose, and warranties that may arise out of course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, the Company provides no warranty or undertaking, and makes no representation of any kind that the licensed Software Platform will meet the Licensee’s requirements, achieve any intended results, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.
The Licensee represents and warrants that it has due authorisations to enter into this Agreement and perform its obligations. Further, the Licensee represents and warrants that its is not barred under law, contractually or otherwise to enter into this Agreement and perform its obligations.
Limitation of liability
The Company and its affiliates, shall not be liable to the Licensee or to any third party for any use, interruption, delay or inability to use the software, lost revenues or profits, delays, interruption or loss of services, business or goodwill, loss or corruption of data, loss resulting from system or system service failure, malfunction or shutdown, failure to accurately transfer, read or transmit information, failure to update or provide correct information, system incompatibility or provision of incorrect compatibility information, or breaches in system security, or for any consequential, incidental, indirect, exemplary, special or punitive damages, whether arising out of or in connection with this agreement, breach of contract, tort (including negligence) or otherwise, regardless of whether such damages were foreseeable and whether or not the Licensee was advised of the possibility of such damages.
In no event will the Company’s and its affiliates’, collective aggregate liability under or in connection with this Agreement or its subject matter, under any legal or equitable theory, including breach of contract, tort (including negligence), strict liability and otherwise, exceed the total amount paid to the Company under this agreement for immediately preceding three month period.
Export Regulation.

The Software Platform may be subject to US export control laws, including the US Export Administration Act and its associated regulations. The Licensee shall not, directly or indirectly, export, re-export or release the Software Platform to, or make the Software Platform accessible from, any jurisdiction or country to which export, re-export or release is prohibited by law, rule or regulation. The Licensee shall comply with all applicable federal laws, regulations and rules, and complete all required undertakings (including obtaining any necessary export license or other governmental approval), prior to exporting, re-exporting, releasing or otherwise making the Software Platform available outside the US.

Indemnification

Licensee hereby agrees to indemnify the Company and its officers, directors, employees, agents, and representatives (“ Indemnified Person ”) from each and every demand, claim, loss, liability, or damage of any kind, including actual attorney’s/legal fees, whether in tort or contract, that may incur by reason of, or arising out of, any claim which is made by either the Licensee and/or any third party against the Indemnified Person with respect to any breach or violation of this Agreement by the Licensee or any claims based on Licensee’s and/or its client’s use of the Software Platform.

Miscellaneous .
Governing Law : This Agreement is governed by and construed in accordance with the internal laws of United States of America without giving effect to any choice or conflict of law provision or rule that would require or permit the application of the laws of any other jurisdiction. Any disputes arising from or related to this Agreement or any Company Software or service shall be subject to the exclusive jurisdiction and venue of the courts situated in New York, and both Parties hereby consent to such jurisdiction and venue.
Force Majeure : The Company will not be responsible or liable to the Licensee, or deemed in default or breach hereunder by reason of any failure or delay in the performance of its obligations hereunder where such failure or delay is lockdowns, due to strikes, labor disputes, civil disturbances, riot, rebellion, invasion, pandemic, epidemic, hostilities, war, terrorist attack, embargo, natural disaster, acts of God, flood, fire, sabotage, fluctuations or non-availability of electrical power, heat, light, air conditioning or any other circumstances caused beyond the Company’s reasonable control (“ Force Majeure Event ”). It is hereby clarified that the Licensee’s payment obligation shall continue during the Force Majeure Event.
Notices : All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Entire Agreement : The terms and conditions of this Agreement, including its exhibits, constitutes the entire agreement between the parties with respect to the subject matter hereof, and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions. Neither of the parties shall be bound by any conditions, definitions, warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. No oral explanation or oral information by either party hereto shall alter the meaning or interpretation of this Agreement. No amendments or modifications shall be effective unless in a writing signed by authorized representatives of both parties. These terms and conditions will prevail notwithstanding any different, conflicting or additional terms and conditions which may appear on any purchase order, acknowledgment or other writing not expressly incorporated into this Agreement.
Assignment:

a. Licensee shall not assign or otherwise transfer any of its rights, or delegate or otherwise transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily, by operation of law or otherwise, without Company’s prior written consent, which consent Company may give or withhold in its sole discretion. For purposes of the preceding sentence, and without limiting its generality, any merger, consolidation or reorganization involving Licensee (regardless of whether Licensee is a surviving or disappearing entity) will be deemed to be a transfer of rights, obligations or performance under this Agreement for which Company’s prior written consent is required. No delegation or other transfer will relieve Licensee of any of its obligations or performance under this Agreement. Any purported assignment, delegation or transfer in violation of this Clause 16.5 is void. The Company may assign or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its obligations or performance, under this Agreement without Licensee’s consent. This Agreement is binding upon and inures to the benefit of the parties hereto and their respective permitted successors and assigns.

b. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer on any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

Amendment and Waiver: This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. Failure or neglect by the Company to enforce at any time any of the provisions hereof shall not be construed nor shall be deemed to be a waiver of the Company’s rights hereunder nor in any way affect the validity of the whole or any part of this License nor prejudice the Company’s rights to take subsequent action.
Reservation of Rights and Remedies: The Company reserves all of its rights to proceed to enforce its rights in connection with all rights not expressly granted to the Licensee in this Agreement.
Severability: If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision shall to that extent be severed from the remaining terms, conditions and provisions which shall continue to be valid to the fullest extent permitted by law.
Interpretation : For purposes of this Agreement, (a) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Sections and Exhibits refer to the Sections of, and Exhibits attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.
Independent Development: This Agreement does not preclude the Company from evaluating, acquiring from third parties not a party to this Agreement, independently developing or marketing similar technologies or products, or making and entering into similar arrangements with other companies. The Company is not restricted by this Agreement to make such products or technologies available to third parties.
Disclaimer: The Software Platform is subject to the Disclaimer set out in the Appendix V of this Agreement.

Appendix IV : Privacy Policy

Appendix v: disclaimer.

All of the operating procedures with respect to the Software Platform have been designed based on the Company’s experience in working with hundreds of global family offices. Under no circumstances should any person using the Software Platform should make investment decisions based solely on the information setout therein. The Company is not a qualified financial advisor and the Licensee should not construe any information discussed herein to constitute investment advice. The information in the Software Platform is not meant to be, and should not be construed as advice or used for investment, financial planning, legal, accounting, or tax purposes. The Licensee agrees to consult with a registered investment advisor, which the Company is not, prior to making any investment/trading decision of any kind. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. It must be implemented as per individual family office requirements in consultation with the family office’s local accounting and legal professionals.
The Software Platform is based upon information that is relevant while making investment decisions and the Company considers it reliable, but the Company does not represent that it is accurate or complete, and that it should be relied upon, as such. The Licensee should not rely solely on the information in making any investment. Rather, the Licensee should use the information only as a starting point for doing additional independent research in order to allow the Licensee to form its own opinion regarding investments. All recommendations, advice or opinions cited are the professional views of the Company. The Licensee must act upon them with due diligence.
The Company is neither registered as a wealth advisor, wealth manager, investment advisor nor soliciting any investment in any jurisdiction. Further, the Company does not accept any responsibility or liability for the actions or inactions on the part of any individual or firm stemming from the information mentioned in the Software Platform. The Licensee is solely responsible for verifying the information as being appropriate for the Licensee’s use, including without limitation, seeking the advice of a qualified professional regarding any specific financial, legal, accounting, or tax questions that the Licensee may have.
The Company makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any material/factual data in the Software Platform. The Company does not warrant that investment/trading methods or systems presented in the manual will result in profits or losses. The Company makes no guarantees as to the accurateness, quality, or completeness of the information and the Company shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for Licensee’s reliance on the information Vis-à-vis the Software Platform.

View Tax Lots

Use the Tax Optimizer page to manage your stock, option, bond, warrant and single-stock future gains and losses for tax purposes. Specifically, the Tax Optimizer lets you select one of several tax lot-matching algorithms to:

Change the default tax lot-matching method for the current or prior trading day .
Manually match specific sales to open tax lots for the current or prior trading day .

Futures (but not Single Stock Futures) and options on futures always use FIFO.

In addition, you can view a year-to-date (YTD) summary screen, which shows your YTD short-term and long-term profit and loss, unrealized profit and loss, and total profit and loss by symbol. You can change your account default lot-matching method and today's lot-matching method from the YTD summary.

All profit and loss amounts in the Tax Optimizer are converted to the base currency of your account. However, prices are NOT converted to your base currency.

Click Menu in the top left corner > Trade > Orders and Trades .

Alternatively, click the Portfolio Tab

Your recent Orders and Trades will appear on the screen.

Select View Tax Lots .

The Tax Optimizer screen will populate.

The Closing Trades will populate on the left hand side and the Open Lots will populate on the right hand side.

Select the Open Lot you would like to apply to the Closing Trade.

Select Submit to save these changes.

If you log out of Portal while the Tax Optimizer is open, you will not be able to save your changes in the Tax Optimizer.

The Tax Basis Declaration page, available in the reporting section of Client Portal, lets you change the default tax lot-matching method for your account. This function in the Tax Optimizer replaces the same function on the Tax Basis Declaration page, so you will no longer have access to the Tax Basis Declaration page in Client Portal. You will be able to change the default tax-lot matching method on the Tax Optimizer page in Client Portal OR in the Tax Optimizer.

Most taxpayers recognize capital gain or loss for tax purposes when they close a position. If an asset is sold for less than its purchase price, then the difference is considered a capital loss. If an asset is sold for more than its purchase price, then the difference is considered a capital gain. Gain or loss is equal to proceeds minus the adjusted cost basis of the position.

Gain or Loss = Proceeds – Adjusted Cost Basis for Each Tax Lot

Gains and losses resulting from trades are based on “matching lots.” A tax lot is the record of details of a purchase. Each acquisition of a security, on a different date or at a different price, constitutes a tax lot. Tax lots are used to determine the cost basis and holding period when you dispose of securities.

When you sell a security, if you don’t sell all of the shares that you own you must match the sale to a tax lot or lots in order to determine your gain or loss as well as your holding period.

The IRS allows two basic methods for matching tax lots: First in, First out (FIFO) and Specific Identification.

FIFO is the default method that will be applied if you do not choose another method. Under FIFO, the sale is matched with the earliest purchased lot or lots available.

Specific Identification allows a trader to match sales with purchases in a different order than FIFO, as long as he or she can show that the tax lots were selected at the time of the sale. The Tax Optimizer lets you choose a method until 8:30 PM ET on the day of the trade.

The Tax Optimizer lets you use Specific Identification directly by letting you change the tax lot-matching method for a specific position, and manually select tax lots to match. You can also use Specific Identification by choosing among several available lot matching algorithms.

Once lots have been matched, the gain or loss for that lot equals the proceeds minus the adjusted cost basis for each lot.

The period from the purchase to the sale is the holding period.

Gains or losses from securities held for one year or less are generally short-term and are taxed at ordinary income rates.

Gains or losses from securities held for more than one year are long-term and may be eligible for preferred rates.

The Tax Optimizer lets you manage your trades' gains and losses for tax purposes by changing a tax lot's matching method. The system default is First In, First Out (FIFO). Choose from the following tax lot matching methods in Tax Optimizer:

First In, First Out (FIFO)

The default method for matching tax lots. Sales are paired with the earliest purchases sequentially. FIFO assumes that assets remaining in inventory are matched to the most recently purchased or produced assets. FIFO is always used for futures, options on futures and cryptocurrencies.

Last In, First Out (LIFO)

Each sale is paired with the most recent possible purchase. LIFO assumes that an entity sells, uses or disposes of its newest inventory first.

Highest Cost

Seeks to maximize losses while minimizing gains. This method first looks at all possible ways to match a closing trade to an open lot. Sales are paired based on the following rules:

It looks at all possible options for matching a closing trade to an open lot.

If any possible matches would result in a loss, the method chooses the match that results in the largest possible loss.

If no possible match would result in a loss, the method chooses the match that results in the smallest possible gain.

Maximize Long Term Gain (MLG)

Maximize Long-Term Gain per share

If no Long Term gain, maximize Short Term gain per share

If no Long Term or Short Term gain, realize and minimize Short Term loss per share

If no Short Term loss, realize and minimize Long Term loss per share

Maximize Long Term Loss (MLL)

Maximize Long-Term Loss per share

If no Long Term loss, maximize Short Term loss per share

If no Long Term or Short Term loss, realize and minimize Short Term gain per share

If no Short Term gain, realize and minimize Long Term gain per share

Maximize Short Term Gain (MSG)

Maximize Short-Term Gain per share

If no Short Term gain, maximize Long Term gain per share

If no Short Term or Long Term gain, realize and minimize Long Term loss per share

If no Long Term loss, realize and minimize Short Term loss per share

Maximize Short Term Loss (MSL)

Maximize Short-Term Loss per share

If no Short Term loss, maximize Long Term loss per share

If no Short Term or Long Term loss, realize and minimize Long Term gain per share

If no Long Term gain, realize and minimize Short Term gain per share

Specific Lot

Lets you see all of your tax lots and closing trades, then manually match lots to trades. The Specific Lot method is available in Method for All and per transaction, but it cannot be set as the Default Match Method.

This topic presents an example of a group of trades and what the gain and loss would be under each of the following seven lot-matching methods:

Under the FIFO lot-matching method:

Sale 1 is matched with Lot 1 for a long-term gain of $15.

Sale 2 is matched with Lot 2 for a long-term loss of $5.

Sale 3 is matched with Lot 3 for a short-term loss of $15.

The customer therefore has a net long-term gain of $10, a net short-term loss of $15, and a basis of $20 and holding period starting July 15, 2011 for the remaining open lot.

Under the LIFO lot-matching method:

Sale 1 is matched with Lot 4 for a short-term gain of $5.

Sale 2 is matched with Lot 3 for a short-term gain of $5.

Sale 3 is matched with Lot 2 for a long-term loss of $25.

Customer has a net long-term loss of $25, a net short-term gain of $10, and a basis of $10 and holding period starting January 15, 2011 for the remaining open lot.

Under the Maximize LT Gain lot-matching method:

There are four possible matches for Sale 1:

Lot 1 would result in a long-term gain of $15

Lot 2 would result in a long-term loss of $15

Lot 3 would result in a short-term loss of $5

Lot 4 would result in a short-term gain of $5

The only possible long-term gain for Sale 1 is Lot 1, so Sale 1 would be matched with lot 1 for a long-term gain of $15.

There are three possible matches for Sale 2:

Lot 2 would result in a long-term loss of $5.

Lot 3 would result in a short-term gain of $5.

Lot 4 would result in a short-term gain of $15.

None of the possible matches results in a long-term gain. The second priority for the Maximize LT Gain matching method is to maximize short-term gain.

Sale 2 would be matched with Lot 4 for a short-term gain of $15.

There are two possible matches for Sale 3:

Lot 2 would result in a long-term loss of $25.

Lot 3 would result in a short-term loss of $15.

None of the possible matches results in a long-term gain and none of the possible matches results in a short-term gain, so the matching method chooses based on its third priority, minimize short-term loss.

Customer has a net long-term gain of $15, no net short-term gain or loss, and a basis of $40 and holding period beginning on March 15, 2011 for the remaining open lot.

Under the Maximize LT Loss lot-matching method:

Lot 1 would result in a long-term gain of $15.

Lot 2 would result in a long-term loss of $15.

Lot 3 would result in a short-term loss of $5.

Lot 4 would result in a short-term gain of $5.

The only possible long-term loss for Sale 1 is Lot 2, so Sale 1 is matched with Lot 2 for a long-term loss of $15.

Lot 1 would result in a long-term gain of $25.

None of the possible matches results in a long-term loss. The second priority for the Maximize LT Loss matching method is to maximize short-term loss. None of the possible matches results in a short-term loss.

The third priority for the Maximize LT Loss macro is to minimize short-term gain.

Lot 1 would result in a long-term gain of $5.

Lot 4 would result in a short-term loss of $5.

None of the possible matches results in a long-term loss. The second priority for Maximize LT Loss is maximize short-term loss.

Customer has a net long-term loss of $15, no net short-term gain or loss and a basis of $10 and holding period starting January 15, 2011 for the remaining open lot.

Under the Maximize ST Gain lot-matching method:

The only possible short-term gain for Sale 1 is Lot 4, so Sale 1 would be matched with lot 4 for a short-term gain of $5.

The only possible short-term gain for Sale 1 is Lot 3, so Sale 2 is matched with Lot 3 for a short-term gain of $5.

None of the possible matches results in a short-term gain. The second priority for the Maximize ST Gain matching method is to maximize long-term gain.

Sale 3 is matched with Lot 1 for a long-term gain of $5.

Customer has a net long-term gain of $5, a net short-term gain of $10, and a basis of $40 and holding period beginning on March 15, 2011 for the remaining open lot.

Under the Maximize ST Loss lot-matching method:

The only possible short-term loss for Sale 1 is Lot 3, so Sale 1 is matched with Lot 3 for a short-term loss of $5.

None of the possible matches results in a short-term loss. The second priority for the Maximize ST Loss matching method is to maximize long-term loss.

Sale 3 is matched with Lot 4 for a short-term loss of $5.

Customer has a net long-term loss of $5, net short-term loss of $10 and a basis of $10 and holding period starting January 15, 2011 for the remaining open lot.

There are three possible matches for Sale 1:

Lot 1, which would result in a $300 (long-term) gain.

Lot 2, which would result in a $100 (short-term) loss.

Lot 3, which would result in a $500 (short-term) loss.

Sale 1 is matched with Lot 3, because that match results in the largest possible loss.

There are two possible matches for Sale 2:

Lot 2, which would result in a $100 (short-term) gain.

Sale 1 is matched with Lot 2, because that match results in the smallest possible gain.

Last updated on (Undefined variable: MainVariableSet.Updates on Change -- Date)

Tax Examiner 1 – 24140949

April 1, 2024

Job Overview:

This position resides in the Business & Income Taxes Division of the Department of Revenue . The Business and Income Tax Division ensures secure handling and processing of taxpayer information and data. Duties include conducting technical level examinations on assigned tax returns that involve research, verifying data, adjusting returns, providing communications to taxpayers and their representatives, and participating in the appeal process. Tax examiner I’s assist with development of audit programs and procedures, draft summary reports of audit findings, and testify as an expert witness. They also assist other tax examiners in their responsibilities and provide a range of support services to taxpayers and other department programs and employees. The position does not supervise other staff.

Knowledge of:

Tax accounting
Auditing standards, principles, and practices
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Investigative methods and procedures
State and federal tax laws, rules, and regulations
Business practices
Computer applications related to taxes and finance
Research and analysis
Cost benefit analysis
Accuracy and attention to detail
Mathematics
Conflict resolution & customer service
Microsoft programs and other data base applications
Written, verbal, and interpersonal communication

You would be a great fit for this position if you have:

Self-motivated
Strong work ethic
Follow instructions
Provide timely and accurate customer service
Work under pressure
Be open minded and think creatively

REMOTE/TELEWORK: This position may be eligible to work from an approved worksite within the state of Montana. This position would be required to report to a Department of Revenue office assigned by the supervisor. Employees must meet and sustain Department of Revenue telework eligibility requirements and supervisor's approval to participate in the DOR Telework Program.

*This is an incomplete list of job duties. For a complete job description please contact Human Resources at [email protected] or (406) 444-9858.

To be considered for a Department of Revenue position, successful applicants are required to successfully pass tax compliance and criminal background check(s). DOR is an equal opportunity employer. Women, minorities, and people with disabilities are encouraged to apply.

Education and Experience

EDUCATION / EXPERIENCE

The above competencies are typically acquired through a combination of education and experience equivalent to:

Bachelor’s degree in accounting or finance, business administration, or public administration supplemented by college coursework in accounting or closely related field.
One year of job-related work experience in auditing, tax examination, or accounting practices.

Other combinations of education and experience will be evaluated on an individual basis.

*If you have documented postsecondary education, please attach your transcripts to your application for it to be considered in the evaluation process.

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If another department vacancy occurs in this job title within six months, the same applicant pool may be used for the selection.

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This agency may use a training assignment. Employees in training assignments may be paid below the base pay established by the agency pay rules. Conditions of the training assignment will be stated in writing at the time of hire.

Job Overview

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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Our commitment to delivering trustworthy and engaging content is at the heart of what we do. Each fact on our site is contributed by real users like you, bringing a wealth of diverse insights and information. To ensure the highest standards of accuracy and reliability, our dedicated editors meticulously review each submission. This process guarantees that the facts we share are not only fascinating but also credible. Trust in our commitment to quality and authenticity as you explore and learn with us.

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IMAGES

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Options Assignment Explained
Understanding the Big Difference in Tax Lots when Selling of Stock
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COMMENTS

How are lots chosen for covered calls? : r/fidelityinvestments
Follow these steps to specify tax lots AFTER the options contract has been assigned: Select "Accounts & Trade," then choose "Account Positions". Navigate to the "Closed Positions" link above the "Symbol" column. Click on "Select Action" next to the appropriate account and choose "Reassign Lots". Trade confirmations are available online within ...
Tax Implications of Covered Calls
Fortunately, tax straddle rules do not apply to "qualified covered calls." A qualified covered call is a covered call with more than 30 days to expiration at the time it is written and a strike price that is not "deep in the money." The definition of "deep in the money" varies by the stock price and by the time to expiration of the sold call.
How are Options Taxed?
60% of the gain or loss is taxed at the long-term capital tax rates. 40% of the gain or loss is taxed at the short-term capital tax rates. Note: The taxation of options contracts on exchange traded funds (ETF) that hold section 1256 assets isn't always clear.
Tax Treatment for Call and Put Options
Fact checked by. Michael Logan. Gains and losses on puts and calls can be treated as capital gains or income tax, depending on the scenario, how long you've held them, and the exact circumstances ...
How to exercise, roll, and assign options
Managing an options trade is quite different from that of a stock trade. Essentially, there are 4 things you can do if you own options: hold them, exercise them, roll the contract, or let them expire. If you sell options, you can also be assigned. If you are an active investor trading options with some percentage of your overall investment ...
What Is Option Assignment & How Does It Work?
The option premium you collect is $10. After three weeks, the stock has jumped to $105, and the short calls are worth $6. You are alerted that you now face a call option assignment. While a small percentage of options contracts are exercised, you are among the few who are chosen to be assigned.
Covered Call Assignment
Scenario 1: Stock goes to $140. In this scenario, the stock has gone up to $140 and your Call Option has now increased to $6.00: $5.00 in intrinsic value. $1.00 in extrinsic value. By exercising your Call Option, you would be buying 100 shares of the underlying stock at $135.
How to Use Tax Lots to Pay Less Tax
Lot Relief Method: A method of computing the cost basis of an asset that is sold in a taxable transaction. There are five major lot relief methods that can be used for this purpose. They include ...
Fidelity.com Help
Because you can choose the tax lot(s) you are selling, selling specific shares gives you more control over the gain or loss realized by a sale. If you sell tax lots with higher cost, you may expect a lower realized capital gain. Conversely, if you sell tax lots with lower cost, you may expect a higher realized capital gain.
A Comprehensive Guide to Tax Lot Method
The tax lot method is a way of accounting for the purchase and sale of securities that allow investors to track the cost basis of individual lots of securities. It is simply a group of shares that were purchased at the same time and for the same price. When an investor buys or sells securities, they can choose which tax lots to use to calculate ...
What is Option Assignment? How and Why Assignment Happens
Option assignment occurs when the owner of an option exercises their right to buy or sell the underlying asset at a specific price on or before expiration. When a call option is assigned, the owner buys shares at the strike price. For example, if XYZ stock is trading for $45 and you sold one XYZ 50 Put, the put buyer has the right to sell 100 ...
About Tax Lot Selection
A tax lot is the record of details of a purchase. Each acquisition of a security, on a different date or at a different price, constitutes a tax lot. Tax lots are used to determine the cost basis and holding period when you dispose of securities. When you sell a security, if you don't sell all of the shares that you own you must match the ...
View Tax Lots
View Tax Lots. Use the Tax Optimizer page to manage your stock, option, bond, warrant and single-stock future gains and losses for tax purposes. Specifically, the Tax Optimizer lets you select one of several tax lot-matching algorithms to: Change the default tax lot-matching method for the current or prior trading day.
Covered call options assignment and selecting which shares to sell
Check with TD but I'm pretty sure you can select a tax lot on those shares by possibly manually selecting the tax lot you sell on the T+1 day after the transaction. The default cost basis on options assignment is average cost I believe, rather than your normal cost basis election of FIFO, LIFO etc. your 'options' costs basis default ...
Tax Examiner 1
Salary. $50,924—$52,824 Yearly. Telework Eligible. Telework Eligible (Full-time telework is not available. Telework schedule must be supervisor approved.) Benefits Package Eligibility. Health Insurance, Paid Leave & Holidays, Retirement Plan. Number of Openings. 1.
Moscow to Elektrostal
Find all the transport options for your trip from Moscow to Elektrostal right here. Rome2Rio displays up to date schedules, route maps, journey times and estimated fares from relevant transport operators, ensuring you can make an informed decision about which option will suit you best. Rome2Rio also offers online bookings for selected operators ...
40 Facts About Elektrostal
40 Facts About Elektrostal. Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to ...
Yuzhny prospekt, 6к1, Elektrostal
Get directions to Yuzhny prospekt, 6к1 and view details like the building's postal code, description, photos, and reviews on each business in the building
Elektrostal to Moscow
Find all the transport options for your trip from Elektrostal to Moscow right here. Rome2Rio displays up to date schedules, route maps, journey times and estimated fares from relevant transport operators, ensuring you can make an informed decision about which option will suit you best. Rome2Rio also offers online bookings for selected operators ...