Investing - Intuit TurboTax + Mint Community

Investing

Investment Expense Eligibility - Money Market Fund

Hello, I have a hypothetical question about whether a margin loan placed into a Money Market Fund (e.g SPAXX) would allow me to accrue deductible interest that can be used to offset other investment income (assuming it qualifies under publication 550... read more

Active trading

How is active trading of an ETF handled for tax purposes as far as wash sale rule is concerned? Say I trade the QQQ ETF several times per month thereby triggering wash sale rules. Will I incur short term capital gains on just the difference between g... read more

Tracking IRA basis after age 59 ½.

Hello Turbo Tax family! I am 59 ½ years old (will be 60 in a few months) and wanted to ask about tracking IRA basis. I am still working a 40+ hour a week job. Since my AGI exceeds the IRS limit to contribute to a Roth IRA, I started making annual Tra... read more

Dell Technologies Class V Stock Litigation Payment

On January 29, 2024, I received a litigation payment for the December 28, 2018 conversion of Dell Class V common stock (NYSE: “DVMT”) to Dell stock. The payment is included as short term (ordinary income) transaction on my Fidelity 1099 with no cost ... read more

AMT depreciation or regular depreciation

When I input my rental house income, I found the TurboTax using AMT depreciation instead of regular depreciation (by H&R Block). Do I have a choice to avoid AMT depreciation in the software?

Tax Liability

We have money with a financial advisor, one account that has stock & exchange-traded funds, we have an account that is our money market account, and we have our IRA’s. We are thinking about using the money from our Money Market account to pay our ann... read more

Short Term Rentals in Two States with a Net Loss

So I have two rental properties in different States. One had a gain, the other had a loss. I actively participated in managing them. The Loss was larger that the gain so overall I had a net loss. I need to file in both States, plus my home State. I k... read more

1099-R distribution Box 7 Code 6 is1035 exchange on insurance contract directly to another company amount is 100% of Box 1

Adress

I sent my documents to 15555 instead of sending it to the other adress will they still process it or would i have to call them to send to the right one ?

How to report sales with no 1099-B form from overseas brokerage

I am using a desktop version of Turbotax Home & Business 2024. I have been successfully using this software for many years, but I am running into a snag (I didn't have any problems last time, reporting income and/or losses from sales of stock on a fo... read more

Traditional IRA

I'm currently retired and drawing social security and a pension. I also have earned income (1099NEC) from a consutling business. Does receiving retirement benefits constitute being covered by another retirement plan thereby limiting my ability to con... read more

Crypto tax question

Cost basis and proceedIf I spent $2000 to purchase ETH and got $2300. Then my cost basis would be $2000 and my proceed will be $2300, Am I right?Thanks

Does my Invisalign treatment qualify for HSA medical expense if it started before ?

I started orthodontic treatment 8/19/24 and made my 1st down payment for $1500. I received a interest free Auto pay plan for the rest of the cost of Invisalign ($4000) which is where I pay $225 each month for 18 months. I didn't have a HSA at the tim... read more

Split Short-term and Long-term capital gains taxes

I have a $100,000 capital loss carryover from 2023, split as follows:$50,000 short-term loss$50,000 long-term lossFor 2024, my capital gains are:$150,000 long-term gains$20,000 short-term gainsI want to structure my tax situation to:Use only $50,000 ... read more

0% Tax rate on LT Cap Gains and Qualified dividends

I was reading an article in the WSJ on 0% capital gains tax for long term capital gains and qualified dividends. The Taxable income limits are 44k for singles and 89k for married filing jointly. See pic for exact amounts. The article also states I ca... read more