Investing

Robinhood sent me this information for last year.1099-Div = $0.001099-Misc = $0.001099-B = $0.00And the form 8949? says as shown.I already filed my 2020 tax, do I need to submit amending forms 1040x? 

I have several Long Term transactions on form 8949, Part III, Box D checked. A few transactions include "Wash sale: 1456 days added to holding period." What do I do with this info?

I normally have a small number of 1099B entries, however this year I had a situation that resulted in one of my 1099B statements having approximately 250 entries, mostly a few cents, but none the less 250 entries. I painstakingly entered them all.  When I printed my TT return to view, TT entered the TOTALS on lines "1a" and "8a" of Schedule D, respectively for Short Term & Long Term gains/losses which were reported to IRS by Broker.  There was only 2 of those 250 entries that were "E" (Long term-not reported to IRS) and those were entered on form 8949 by TT.  I am confused as to why TT did that, but my question is: Do I need to snail mail a copy of my brokerage statement to the IRS due to the fact TT listed all those entries as TOTALS on line 1a & 8a on my Schedule D, even though I entered all individually, thinking they would appear on Form 8949?  I am not talking huge numbers (1a=$8.00 and 8a=$196).  Also, should TT alert me if it is necessary to do s

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Between my wife and I, we have a MAGI of a little more than $145k, she has a 401 via work and contributed 6% in 2020 and now upped to 10% for 2021.  Turbo Tax tells me we don't get a "deduction" because we are over the MAGI limit for her contributions.   We also have a ROTH but not via our work.  I currently owe Uncle Sam over $4k, If I add $7k to our Roth before April 15th, it reduces our amount owed to $2800.  Is this the best plan to reduce my amount owed for 2020 taxes or not.   And what is the best plan for 2021, up my wife's deductions to her 401?  Or something else. Thanks for your help.

I own several publicly traded stocks that my parents bought for me when I was a child.  Originally, they were owned via a UGM account.  But when I became an adult, the stock was transferred to a joint account WROS owned jointly by me and my mother (my father died many years ago).  My mother died in 2020.  Question:  Do I get a stepped up basis in 100% of the stock since 100% of the purchase price was paid by my parents?   Thanks!

Tax-residency --> Resident AlienImmigration status --> F1 - OPT Assume that I sold some mutual funds and stocks, however never withdrew money out of the brokerage account. Do I still need to pay taxes on the gain (note that I have not withdrawn the gain yet.) ? I re-invested the money sold and earned more on them.Also, my broker has not sent me any 1099 form for these transactions. Please advice.

How you divide 1009B earnings with spouse like you can on a 1099-INT.  Turbo taxes is apply all the income to me so I can not qualify for an IRA deduction.  The 1099-B earnings are from a joint brokerage account.

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So frustrated.  I cannot file my taxes because TT says the form is not done and "check back later".  Our income dropped 50% in the last year after the pandemic started but was too high to receive a stimulus because of 2019 income.   We are eligible this year and for any further stimulus if we can JUST get these taxes done. Can anyone help me understand when this form will make it into Turbo Tax ?https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf 

I purchased land as an investment. I received coal royalty. Can I deduct the cost of the land?

My son and I opened a joint account to do some investments.  The account has both names as owners, but the broker used my social security number on the 1099.  For 2020, we had a capital loss.  I imported the information from the broker to my tax return and would like to record an entry into Turbotax to allocate a portion of the loss to my son.  Can someone tell me how to do that within the desktop Turbotax allocation?

I sold 200 shares of AAPL stock in my SEP / IRA account [number removed] for $56,431 and I gifted 100 shares of AAPL to each of my three children.  My Form 1099-R shows a Gross Distribution / Taxable Amount of $92,899.25.  That amount is incorrect because the 300 share of AAPL were gifts.  Meanwhile, an agent of TD Ameritrade informed me that they have only one Distribution code (7) so they cannot discriminate between taxable distributions and non-taxable gifts.  Furthermore, the IRS uses the amount designated by TD Ameritrade's 2020 Form 1099-R to compute my 2020 tax.  When I tried to contact my local IRS office to make an appointment to discuss the problem, I was shuffled back and forth by their bots and I could not make an appointment.  Logically, that means I will have to go to the IRS Office, take a number, wait to be served, told that I need to make an appointment. make the appointment for another day, then go home and wait until that day comes to pa

I paid cash to buy a home that became a rental property; some of it obtained from mortgaging my own house, and some from cash on hand.Can the cash on hand be considered a home rental expense?  (Expenses you paid for the seller?)

i own rental property with another person but the 1099 for rents came in my name only how do i handle this?

My aunt died on 2/22/2018.  Inherited stock from her was put into my account on June 27, 2018.  I sold the stock in 2020.  In looking at the 1099-B i noticed that some of the stock i inherited was acquired in May of 2018 i.e. between the date of my aunt's death and the date i came into possession of the stock (i am assuming her money manager was continuing to manage her account and that is how the May 2018 purchase was made).  So what date do i use as a cost basis for the stock acquired after my aunt's death but before i was in possession of it?

What the best online cost-basis strategy/calculator for funds held for many years and sold all? NetBasis is not giving me the answers I want this year. 

I sold 4 stocks last year. When I tried to enter them into Turbo Tax , 3 worked but one did not. The cost basis did not subtract from the proceeds.

Can I deduct the HOA fees I paid each year now that the property has been sold?

Why does Turbotax combine the amounts entered from K-1 Box 20 A and B onto my Form 4952 as Investment Interest Expense?  Shouldn't the amount on Form 4952 just be the Code B amount?

When entering  3921 form information for ISO Stock Purchases in TurboTax Premier there is a limitation of 99,999 shares (Box 5).  What do you do when you've purchased  more shares and is there a way around this arbitrary limitation?

I didn't work this year but my wife did.  We found out that you can still place money in both IRAs.  If it will be $1000 can we place the money in my IRA even though she is the one who earned money?

I purchased Premier because it is specifically promoted as having enhanced features for investments. Yet, now I find out that while one can input cryptocurrency sales as capital gains taxable events in the online version, there is no such option in premier. Setting aside the minor quibble that cryptocurrency is treated as property rather than as an investment per se, it would seem I've been shortchanged in available features. For that matter, you enter crypto in the online version  apparently as follows: Select Federal from the left menu, and Wages & Income from the menu near the top.Scroll down and select Show more next to Investment Income.Select Start or Revisit next to Cryptocurrency.So quite clearly, the online version handles it under Investment Income - precisely what Turbotax Premier is supposed to be ideal for. This is, to put it mildly, frustrating. 

Hi, I'm currently investing on stocks through Robinhood. I'm thinking to invest long-term to reduce taxes. I'm trying to keep an asset for a little more than a year and sell it.  Because I'm buying stocks from a company multiple times throughout the year, so some shares are new, and some are older. How do I determine whether an asset,  or a number of shares are long-term or not?  

I want to sell some of the stocks in my UTMA that is 20+ years old. I just found out I have this account. What cost basis method should I be using if I dont plan to cash out the entire account?