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Hi, Recently, I realized that the MAGI my wife and I will earn this tax year (2023) would put us out of the range to contribute to a Roth IRA plan. Up to this point, I have been contributing regularly and have requested a "Remove an Excess IRA Contri... read more
ItsMeZee23 ‎Posted Tuesday
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Both account belong to the same small business owned by me and my wife. No employees. Taxed as a partnership in SC.Filed an extension, so tax return has NOT yet been filed.All SEP contributions were contributed in 2023, but I planned to deduct on 202... read more
Snoopy70 ‎Posted a week ago
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I wanted the community advice on my 2022 and 2023 backdoor Roth conversion - which I believe may lead to a future tax bill as I did 2022 and 2023 Roth conversion on Jan 15, 2023 along with moving my pretax 401K to personal IRA in March 2023. I obviou... read more
PN08 ‎Posted 2 weeks ago | Latest post 2 weeks ago by dmertz
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In 2022 for tax year 2021 I paid TurboTax the full price “live premier full service” do it for me tier, it was a complicated year, that seems to be impacting us this year (2023 preparing for year 2022 using TurboTax Premier and hoping I dont have to ... read more
richardiporter ‎Posted April 15, 2023 | Latest post 4 weeks ago by fanfare
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I own a commercial property (under Property SMLLC) for the last 17 years where I am also self-employed under my Clinic SMLLC. I have been reporting depreciation of the entire building during this time under Schedule C (Clinic SMLLC). Last year I star... read more
Gary221 ‎Posted a month ago
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I would like to sell QQQ and buy QQQM. These ETFs are identical except one has a lower expense fee. Will this trigger a taxable event for capital gains? If this doesn't trigger a taxable event, how do I prevent my broker (Vanguard) from putting the c... read more
Matt18 ‎Posted May 2, 2023 | Latest post May 2, 2023 by tagteam
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Trying to figure out how to input SLV into TurboTax? Mine looks just like the one below that I pasted here...different numbers though... and TurboTax says these numbers from the 1099-b need to be reviewed. Do I leave these numbers and just add the da... read more
RUdtsMT ‎Posted April 17, 2023 | Latest post April 19, 2023 by GeorgeM777
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New to Mint - imported my stock portfolio and it shows purchase price as from when I imported everything a few days ago - does anyone know how to go back in and modify the stocks purchase prices to when I actually purchased the stocks several years a... read more
askstephen ‎Posted June 8, 2022 | Latest post April 19, 2023 by SethuSekhar
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I purchased stock through ESOP between 1982 and 1989, when I resigned from the company. I held the stock for 30 years, during which there was one split and all dividends were reinvested to purchase additional shares. I sold some shares in 2022, and t... read more
kgef3g ‎Posted April 17, 2023 | Latest post April 17, 2023 by AmyC
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I have a single member LLC for a rental property (small multifamily). Since this is a single member LLC, I don't need to file Form 1065, and doing everything on Sch E.I wonder how to track the capital contribution to the LLC/rental property, such as ... read more
JH82_WA ‎Posted April 16, 2023 | Latest post April 17, 2023 by Vanessa A
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Hello, I'm trying to file my taxes and I keep getting a message saying I checked Yes on the Qualified Disaster Retirement Plan, however, I have checked NO. How do I get past this error message?
robertdrobbcecil ‎Posted April 16, 2023 | Latest post April 16, 2023 by DoninGA
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Spouse inherited parents home and was sold last year to relative. House ownership was transferred to spouse. What should be the cost basis of this "non primary" home? FMV? or Zero since it was just signed/transferred over
CG1563 ‎Posted April 13, 2023 | Latest post April 14, 2023 by AmyC
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I received a few 1099-OID forms from my brokerage co. It only has Box 6 and Box 11 filled out. The other Box entries are empty. When I enter this data into TT and run the TT Federal Review, I get this error: "The acquisition premium adjustment of 200... read more
dugy-fresh ‎Posted April 6, 2023 | Latest post April 12, 2023 by moodycr
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My vehicle is used in my property rental business. My vehicle (bought in 2021) , turbotax applied depreciation method SL - HY in 2021 This year (2022), turbotax uses 200DB/HY. I don;'t see a way to select from a list of depreciation method. Is the ch... read more
yj0 ‎Posted April 5, 2023 | Latest post April 12, 2023 by AliciaP1
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1.) I thought long term capital gains would have lower tax rate. Turbotax asked me "Any foreign source qualified dividends or long term capital gains?" After I entered the amount of my long term capital gain, the tax shot up which surprised me. Why?2... read more
sslwa ‎Posted April 11, 2023
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