I am not a tax expert either and use FlexQueries only infrequently (so I am not very well qualified for an answer, but ...)
Depending on what instrument you trade, at least here in the US, trade gains can get taxed as "Capital Gains", "Ordinary Income" or a combination. Tax rates differ for the various scenarios where capital gains rates are usually lower than ordinary income rates. Also, "long term capital gains" rates (when held for more than a year) are lower than "short term capital gains".
FifoPnlRealized comes into play when you have a position that you hold for a long time and you buy and sell at very different prices over time. Say you sell a portion of this position now, P&L an be calculated as:
- current proceeds of sales minus cost of the earliest buy trades in the position (FirstInFirstOut)
- current proceeds of sales minus cost of the mot recent buy trades in the position (LastInFirstOut)
P&L can obviously be very different in both cases even to a point where one would show a profit while the other shows a loss. On the other side, if you always close out the entire position, both methods of determining P&L would calculate identical values.
When you create your FlexQuery, which of the sections do the CapitalGainsPnl and FifoPnlRealized fields come from?
闯ü谤驳别苍
?
?
On Tue, Mar 18, 2025 at 12:04 PM, Despair wrote:
1.) I think they are subtracted.
2.) They are luckily not 10%.
?
Has anybody a link to where all the fields of the flex query are explained in detail? I searched but couldn't find this info.
?
There are for example two fields CapitalGainsPnl and FifoPnlRealized. What is the exact difference? And there are many questions like this.
