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Arena Pharmaceuticals, Inc. Message Board

  • packerbacker1960 packerbacker1960 Apr 9, 2013 10:41 AM Flag

    Tax Selling - They got me. Bad timing.

    Hate to say it but Obama and our inept government got me. I sold at the end of the year to book my gains in 2012 with the thought that the cap gains tax was going to increase. Bought back in in Feb to avoid the wash rule. Now am forced to sell 10000 shares at this depressed price to pay the cap gains tax on last years earnings. This sucks. Still holding the remaining 20k shares. Dam I feel violated.

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    • I am in the same boat. I filed last night ant it was a pain in the buutt to pay. I put it on credit cards with deferred payment but the catch was i had to pay ~$600 convienence fee. I did not sell any shares, you would think the government would accept any form of payment... They wanted one credit card for payment and no single card had that much limit. You have to call their card service number and pay that fee to split it into two cards. If i knew this i would of opted for an extension. I guess you pay to learn.

    • I know. damn that obama for inventing taxes.

      taxes suck, but look at this way: show me another country with less taxes where you can make as much as you do and its government has the ability to dictate policy in other sovereign nations to the advantage of your citizens. Oh and that country has to be self sufficient, capable of defending itself, and have all the natural beauty we have in this country.

    • To bad you are not trading in an IRA, then you do not have to pay any taxes on any gains till you actually start withdrawing. If you are in a Roth IRA and do not withdraw any money till after you are 59.5, then you never will have to pay any taxes. Why do you think the Democrats want to limit the amount you can have in your IRA?

    • I just paid my taxes on last year's profits on ARNA. It was a very large sum (nearly 6 figures). But then I made a lot of profits so fair's fair...

      • 4 Replies to iago4466
      • I did the same. Long term shares from $1.50 were sold in December 2012 locking in lower capital gains rate. Those shares repurchased gradually with every dip along with shares I pick up using naked puts. Waiting for DEA and EU all to happen within 1 month.

      • I'm glad you guys are paying taxes. My tenants on disability and welfare need to pay my rent! :) I'm still licking wounds from tech bubble back in 2000 so my profits were not taxed. I'm getting money back. Several grand, but better than nothing. The taxes suck. I know. I had to pay almost 100 grand back in 1999. The year before 77 grand. That's almost 200 grand in 2 years and the govt is broke!!! Does this aggravate anyone or are you like frogs sitting in a slowly simmering pot? Regarding blaming Obama, Luk is right. Bush could have changed this whole tax system when he and Repub's controlled both houses. What a wasted opportunity, but then again, he was an idiot like the Freshman we have in office today. I will give him credit for the estate tax though. Oh, regarding the taxes, ook at it this way. You didn't have to sweat to make it or deal with idiot employees or customers. Nice.

      • ARRG !!!! AMT !!!!!!!!! I got crushed with AMT this year darn it.

      • Iago, tell me how paying over 170,000 in taxes is fair, please.

    • and there is no wash rule on selling a stock at a profit...

    • So,you made 400,000 profit from arna in 2012.....Pay your 80,000 and be happy!!! You could have filed an extention, took a vacation out of country and come back penalty if your out of country.....

    • what a liar. have you no shame? not even a good liar. straight to hell and ignore for you.
      - sold at the end of year to book gains. (we call that profit)
      - bought back in Feb to avoid wash rule. (wash rule only applies to losses. it's also only 30 days, so if you sold in 2012, and bought back in February, you don't qualify anyway).

      Sentiment: Hold

    • Paying early? Nut! Especially when this is about to pop. Then sales that should outshine Q. If you did a proper analysis you would have waiting until Aug to pay.

      Sentiment: Strong Buy

      • 1 Reply to reasonable_risk1
      • reasonable he is not a nut he is a short LIAR trying to get shares broke loos. As there is not many buyers at this point and no sellers in this range, when VVUS is going up on average volume and Arena going down that keeps new retail away while they sucker new retail to buy VVUS as most do not see nothing but one going up one going down and without researching it looks the looser stock floating debt is the win. The FUNDS that need to get out of VVUS is naked shorting Arena IMO

        Sentiment: Strong Buy

    • You shorts come up with just about anything to show the dump was not naked, If you had to come up with cash you still have over a week and also can file an extention. YES I am calling you a LIAR, now go tell your boss longs are not as DUMB as he is. Oh COVER while you still can.

      Sentiment: Strong Buy

    • wait a few months and pay the interest and penalty. why should you pay the govt on time when they can't do anything on time. If there ever was a case for civil disobedience, this is one.

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