Investing

Hello, Please help me in putting together a potential chain of wash sales: 2 XYZ Option Contracts Sold (Expired) on 12/16/22 at the same time (worthless, so losses, but different loss amounts to to different acquired dates)- 1 acquired on 8/19/22- 1 acquired on 11/16/22 1 XYZ Option Contract Sold (Expired) on 12/23 (worthless, so losses)- acquired on 12/05/22 1 XYZ Option Contract (not yet sold, still holding)- acquired on 11/16/22Assuming all option contacts are substantially identical, how do I complete this wash sale chain accurately? The two contacts expired (treating as “sold”) at the same time, so cash they wash sale each other? Or do I take the earliest acquired date one since they sold at same time and no way which to know was first? Then, to which option contract does the wash sale go to afterwards? I am having difficulty following a sequence here or know what wash sale I have? I know exactly what a wash sale is and how it works, so that

The Investments > Performance graph isn't really useful because it doesn't include the cash in my investment accounts. If I sell $10K of stock, the graph shows a $10K drop in performance and value, even though the proceeds are still in my investment account. Why is that? 

When will connectivity with Ford Finance be restored in Mint? It has not worked in months and, yes, I can login to Ford directly without issue but Mint will not accept my perfectly valid username and password for Ford. 

Mint is asking me to update the access to an old loan I no longer have.  If I try to delete it, there is a warning that all data will be lost.  Of course I just want Mint try stop asking me to update the password and to stop trying to access an account that I no longer have.  Also this is for Mint, which is not listed in the "Select a Product list".

Where I I find the full list of Mint spending categories that  are used to categorize my transactions.  

I'm confused. I opened an investment account with Chase to have a little fun in the stock market. Now instead of being a simple brokerage account it seems I'm in a RET.I don't have a lot of money invested, but even though this is after tax money it seems that I will pay tax on any gross distribution, irrespective of profit or loss. As an example, I withdrew $500 I put in the account by mistake just a week later - now I have a 1099-R for $500! I didn't want to contribute to a retirement account, I'm 70 and getting distribution from an annuity, I feel mislead by Chase. Any suggestions on how to exit this situation without incurring excessive tax?  Thanks

how do I determine the asset cost of the new property in a 1031 exchange? 

I am planning to invest in a REIT and as a current business owner, I know the benefits of having a business and using deductions and expenses.  Would the dividends from the REIT count as business income that could go towards business expenses if created under the LLC? My LLC is a single LLC. Otherwise, would it make sense to just use my SSN and claim it as regular income?  

I sold a residential rental property in 2019 and the passive losses made my 2019 AGI go negative.  Can I carry the remaining loss over to my 2020 taxes? If so, how do I do that as I didn't see anywhere on Schedule E or on my 1040 to do that.

I over-contributed to a Roth IRA based on income limits in 2016/2017 (5 years ago). It's too late to correct the excess with a "corrective distribution" or "dollar limited distribution". Therefore I have to either withdraw or "distribute" the whole amount of the excess, or "absorb" part or all of the excess with the current year contribution limit available to me. I'm not presently working, and therefore have no earned income.Is Absorption available as a strategy to fix the excess contribution if I have no earned income? 

I am currently (VA medically) rated at 100% PERMENTANT & DISABLED due to my ongoing Combat PTSD. I am currently working full-time with FMLA absence and unexpected leave protection due to my ongoing VA medical appointments or unexpected PTSD episodes. In addition, I am under an accommodation protective status.Would it be possible and legit  to withdraw my 401k savings using my current VA 100% P&T disability to avoid penalties, but most important avoid any IRS problems in the future. My time at work is determined on the level of my PTSD condition. I am concern that in the near future I will no longer be able to continue functioning in work environment which will lead me to rely on my VA disability compensation. 

I recently sold some holdings in my traditional IRA account that are underperforming. I have enough cash in the IRA now where I could fund 2022 Contribution. Can I use some of that cash to fund my 2022 contribution without penalty? or taxes (ie it being treated as a withdrawal). I will be 68 at the end of this year, so we're not talking about 59 1/2 or RMDs (which is all I can find online... I'd say, 80% of info on IRAs is about early w/d and RMDs) 

How do I input my loss from a limited partnership that went bankrupt in 2021?  I invested in the project in 2014 and have been receiving K-1's every year showing my initial investment with no other entries.  It was a real estate development project. The property was foreclosed on this year leaving the partnership with no assets.  The manager of the partnership filed for bankruptcy after the foreclosure and has advised that he will not be issuing a final K-1.    How do I input the loss in TT?

Hello, I was wondering if TurboTax Premier (or any TurboTax product) allows for processing taxes associated with trading of cryptocurrency (e.g., bitcoin) futures without having to file a paper form?  Can anyone help with that? Thanks! 

I have an out of state investment that I will receive a 1099-MISC on for rents paid on farm equipment that I own.  This is a passive investment and not a business in any way, shape, or form.  I am an Ohio resident, and the equipment is located in Oklahoma.  I obviously will have to file a federal return, an Oklahoma return, and an Ohio return.  I will also have to depreciate the property.  Can all of this be done online and e-filed to federal, Oklahoma, and Ohio?  Or will I be forced to file paper returns for all three?

are 401k contributions based on paycheck date, or is it based on the date in which the money from the paycheck actually HITS the 401k trustee?    Basically, is it based on paycheck date or activity date

Currently sitting on capital gains of $5M. Looking for some advice on how to limit taxes if I were to liquidate today.

For my seasoned daytraders, I recently took up daytrading and I heard about the tax stuff and got a little scared. So my question is Sec. 475 Mark-to-market Election. In order to claim it for the 2021 Tax year, can I file the election when I file my taxes in 2022 for 2021? Or Did I need to file last year for this year? I know, noob question, but a serious one. So please help, because my opinion is that it would not make sense to have to file an election for the current year in a previous year. Like literally until about a month and half ago, I had no idea I was going to take up daytrading. Decided to give it a go and I am up overall, but I traded some of the same stocks without waiting for the 30 day rules. So my issue is that even though I am up 7.6% overall, will the IRS be like "nah you are actually up 50% overall" and tax the hell out of me. Which at that point, I need to stop now and maybe get back to it next year. So please help an aspiring daytrader.

I had an HSA account with my old employer. I quit that job, and started a new job and thus have an HSA account with a different administrator.   My question is what is the difference between a rollover and transfer? Am I correct in assuming that a rollover means that the money/cash in my previous HSA account will be sent to me via check? And that a transfer would mean that the money/cash in my previous HSA account will be sent to the new HSA administrator via check? Which option would be best?  (best, in terms of ease of transaction, and the propensity of the IRS finding the transaction to be questionable). I just would like to transfer all my money from my previous HSA account to my new HSA account with as less hassle as possible and preempt any IRS query.   Is a "transfer" a better option than a "rollover"?  If so, why?  I appreciate your help 🙂 

where do i input 1099R on my tax return?

I inherited my mom's house and sold it for more than the fair market value at the date of death.  Will I have to pay capital gains taxes on the sale if I invest the whole amount into a new property?  This will not be my primary residence.  

I've been thinking about buying an apartment in Mexico City which, once built (in like 3 years), will generate monthly dividends. In Mexico, what I've been told, is that you pay a 10% tax on these dividends. But will I have to pay extra taxes in the U.S.? If so, how much? Maybe if I already pay 10% in Mexico I'll only need to pay the difference, if there is any, in the U.S.? Of course, I'll have to declare this apartment in my U.S. tax returns. For context, I have both citizenships (U.S. and Mexican) and I reside in the U.S., where I work. Any advice would be helpful, so I make the correct investment decision with owning an apartment outside the U.S.

In 2014 we inherited 500 shares in Alabama Power.  In January 2020 we sold 200 shares.  Do I have to count this as income?

I have rental property and have filed single for the last 10 years and have deducted my losses. I married last year and turbo tax doesn't seem to allow me to deduct my losses. This is correct?

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