Investing - Intuit TurboTax + Mint Community

Investing

stocks

Partial sale of units in a PTP

I have two PTP's that I have held for years, buying more units when my basis (in the Capital Account of the K-1) nears zero.The PTP distributions are treated on a "first-in/first-out" basis so the original investment must be returned before any capit... read more

529 to Roth Conversion in New Jersey

We plan to convert moneu from son's 529 to Roth IRA in 2024. We meet ALL the requirements. Part of the converted money will be earnings on the money we deposited. Will Turbo Tax be able to handle this type of transaction for:Federal - nothing is taxa... read more

Recovering an expense that must be depreciated.

My wife and I own an investment property, a duplex, purchased in 1999 and paid off in 2008.The gross rental income is $1,200 per month.The house is currently in need of some foundation repair along a 12 foot section of basement wall, and will soon ne... read more

Secure Act 2.0: Inconsistencies About 529 Rollover to Roth?

The new rollover option with 529s is very compelling, but there remain many questions about how it can be used. A few such questions are raised in the balance of this note. First, it was deemed okay to make a rollover in respect of the 2023 tax year ... read more

Roughly when did firms first start using consolidated 1099's?

Roughly when did firms first start using consolidated 1099's? Are consolidated 1099's relatively new, or were they around "like" forever? My CPA is asking when the 1099=DIV's are for firms he listed on my 2022 1040 schedule B, and neither of us have ... read more

Moving Crypto asset across Spouse accounts and tax implications?

I have a scenario where plan to close one of the crypto account. How a transfer from one account on Exchange A to Spouse's account on Exchange B is treated for taxation / capital gain/loss? As per IRS, its non-taxable to move assets from Exchange A t... read more

401K Rollover and contributions

Hey everyone! I changed jobs this year and rolled over my 401k to an IRA. What I'm wondering is if my contributions count towards my 2018 limit. To make things simpler: I contributed 2,000 to my 401k at Job A When I left Job A I rolled that over to a... read more

401K RMD take when low or high?

Does it matter since the RMD is all taxable? I can't wrap my head around it. If you take it when it is low then you need to sell more shares. So you have less shares to grow. Guess it's like selling personal shares, buy low sell high?

Stock Splits - Are they realized as long term or short term...

This is an example/scenario only. If 1 stock was purchased over 1 year ago at $10 and didn't split, I understand this is long term capital gains when I would sell it for $20. Capital gains would be $10. If the same single $10 stock was purchased over... read more

What expenses can be capitalized when rental property is not in service?

I am a several years behind on filing. No worries, I won't owe, but I have a house I rented for a few years and it got red-tagged by the county. I can't rent it, until I do some major repairs, but it is not a personal use property. Strictly a rental.... read more

1099 and long/short term capital gains

I've come across long and short term capital gains bracket posted on your website. Can I assume it applies to me without obtaining the TTS status? I am 1099 and I trade stocks

ROTH IRA

I was laid off and my potential new employer (if hired) has a 401k but they do not contribute , it would only be me contributing. My existing 401k is going to just sit where it is now. I do not plan on rolling over to the new 401k.my question is whet... read more

Real estate investment question

I need help in figuring out how to enter income received from a real estate investment. I entered into a contract with a home builder in which I up fronted capital to purchase land and build a new home. My only involvement was up fronting the money. ... read more

Brokerage company requested more info about my W8-BEN and made withhold backup under W9

Hi! I'm a non-US resident, only visit the country as tourist some weeks per quarter. I hold a US bank account and a phone number. Opened a brokerage account to buy stocks/fixed income but the brokerage company invalidated my W8-BEN and requested addi... read more