Accounting For My Losses

My NURP losses of mid-summer are still weighing on me. While I am hoping for gains from my Octane bot and the Futures copy-trading to get me closer to even than doing nothing, I have a journey ahead of me for the next few months.

But before I arrive on December 31st, I am trying to get the bot activity entered into QuickBooks under my LLC. If I knew I would have significant losses, I would have chosen a different tax option. Now that I am forced to reconcile everything, I am quite possibly bending Quickbooks in a way that it won’t easily go. I have used QuickBooks for over a decade, but investment losses/income differ from running a credit card or sending an invoice.

The goal is to capture all of the activity. Unfortunately, peaking four months into the future shows far more red than I would like. If all I saw was the losses, I should find another hobby. If I accept the slaps and pummelings as hazing, I would be foolish to stop. Yes, I have been chastised. And, yes, I have been humbled. But have I been beaten? Absolutely not. I would be foolish to throw away the wisdom acquired in the trenches.

Even the accounting won’t defeat me. I will get through it, and I won’t let myself get behind next year. If I viewed the bots as “retirement-critical,” my attitude would be different. I would have sleepless nights—oh yeah, I had some of those. In the future, the bot income will be bonuses on cruises, family outings, or undeserved splurging. I am grateful for our financial planning and my wife’s willingness to give me some funds to experiment with. I vow to finish 2024 with a positive attitude and apply its wisdom to 2025.

About Andy G

Semi-retired dad of 4 biological kids and many others kids. Eyes on eternity while enjoying the blessings this life has available.
This entry was posted in Balanced Portfolio, EFX, NURP, Octane, Passive Income and tagged , , . Bookmark the permalink.

2 Responses to Accounting For My Losses

  1. Steve Barry says:

    You express possible regret, due to trading losses, for choosing a LLC. What would be a better option?

    • agruenbaum says:

      If you set up a LLC exclusively for trading, it is a better option. I am taking my existing LLC and my accountant is making it fit to hold my investing efforts.

Leave a Reply