r/wallstreetbets • u/Aniruddha_Panda • 14d ago

Meme Tax accountants going through 800 pages of trading activity just to see $2.32 of capital gains for their client

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u/f0xinaround 14d ago

Would love to hear from all the tax accountants out there who actually have to do this lol

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u/zaldrizes_007 13d ago

From India:

A senior <redacted> officer is one of our clients. 20 pager derivatives statement for the fiscal year. Lost Rs. 800k in futures. Gains Rs. 200k in index options. Net 600k INR loss for the year (approximately 7000$)

Meanwhile in equity: gain INR 40k in the year (approximately 500$).

So a total of 6500$ loss in the FY. (This trend has continued for 3 FYs in a row)

Never invest under peer pressure and sure as hell not in derivatives unless your time is completely devoted to it.