EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.
Here is a link to IRS Publication 514. Again, I am not a tax adviser and not saying what ERF taxes will qualify as. I will say though that I will be using Turbo Tax and talking with a licensed tax preparer about it. Whatever taxes are due I'll pay, tax credit or not, and it will not change if I keep owning ERF. It has an 8% yield I think a 15% tax is not going to break anything.
Since I shifted my forex trade size and max loss per trade being on Oanda vs ThinkorSwim I have updated the Trading Account's estimates below.
$100 deposit into Investing
$1.65 dividend from ERF
Model Portfolio Totals
Trading Account: $300
Estimated Monthly Income: $0 (Not ready to trade until Phase 1 completed)
Max amount in Forex trade (50% of account): $150
Max loss per trade (1% of account): $3
Investing Account: $1,654.72
Estimated Monthly Income: $5.77
ERF: $1.69 income/month ($0.009 from DRIP shares)
O: $1.06 income/month ($0.005 from DRIP shares)
JNK: $1.85 income/month ($0.012 from DRIP shares)
PCY: $1.17 income/month ($0.005 from DRIP shares)
TLT: $250 reserved for future purchase
Maneuvering Cash: $410.03
Savings Account: $600
Portfolio Protection: $100
Precious Metals: $0
Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others.
I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.