Investing

K-1, Box 13, Code W basically just says "FROM PASSTHROUGH"

I have three K-1's from passive activity investments that all have Box 13, Code W amounts and the descriptions are kind of similar: 1. "From pass-through entities"2. "OTHER DEDUCTIONS FROM PASSTHROUGH ENTITIES"3. "OTHER DEDUCTIONS FROM SCHEDULE OF AC... read more

Brokerage Account Basics

I was thinking about opening a fidelity brokerage account next year, and I was looking for a general guide of what I need to keep track of with my TurboTax account. I read that TurboTax Premiere can link and import to brokerage accounts. Does this au... read more

Cost basis calculators

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.

1099B

In Nov of 19, I cashed out all of my stocks shares (2266) in an investment account that I have had for roughly 30 years. I have not contributed to the account for over 20 years, it just kept building up on its own. I received a 1099-B which 851 share... read more

How is Put option premium taxed?

Hi! If today I sell an uncovered Put with an expiration date of January 21, 2022 for $100, and then close out of this position on January 21, 2022 with a $100 profit, how will this profit be taxed when I file my taxes for the year 2022? As ordinary i... read more

Is it possible to complete a wash sale without ever securing a loss?

My brokerage has identified a wash sale in the trading of a security. The progression was as follows: 1. Buy 1000 of Stock X at $2.482. Sell 1000 of Stock X at $2.523. Buy 300 of Stock X at $2.53 The purchase of the 300 shares apparently generated a ... read more

2019 Roth IRA Excess Contribution

I contributed $6000 to my Roth IRA in 2019. It turns out I wasn't eligible to contribute any for 2019. I had my broker move the excess to my 2020 contribution (for which I am eligible) on Sept 10th 2020. My account is worth less than it was before I ... read more

what is relinquished property equity on a 1031 exchange

30 years ago I bought a rental propety20 years I did a qualified 1031 exchangeNow I am selling the 2nd buildingOn my exchange agreement from 20 years ago there is a $ amount called "Relinquished Property Equity" Is this amount the basis that I should... read more

Can I open IRA while I have Employee sponsored 401K

Hello Experts, I participate in my employee sponsored 401K and my AGI exceeds the limits specified for Roth IRA.Can I open an Traditional IRA account though two conditions are true:- Participate in 401K-AGI >= limits. I understand that I may not be a... read more

401K Rollover

If one maxed out there traditional IRA contribution for 2020 while also putting 5k into their employer 401k plan in 2020, can one rollover the 5k in the 401k into the IRA in 2021 and not have it count against their 6,000 IRA limit?

401K Match

The company I work for was providing a 5% match. I invest well over the 55 match but they have recently canceled the match like a lot of companies. I have reduced it to 5% even without match to boost my savings and build up money in my brokerage acco... read more

If I expect to pay tuition in the coming years - should I keep contributing to a 401k or open a 529 account or do nothing?

What's the most logical way to pay for college tuition if you expect to pay it in the coming years? Is it best to withdrawal from 401k account? Or open a 529 account? Or do nothing? Or something else? Thanks!

Qualified Opportunity Funds and Deferred Capital Gains

I'm interested to learn more about the benefits of reinvesting capital gains into a QOF, as well as the timeframe to reinvestment into a QOF from gains having been realized - must it all be done in the same year, or is there something comparable to 1... read more

mailing new york state tax return

I have to mail my state tax return, I don't know what forms to mail.

What are advantages / disadvantages of putting your primary home in to LLC

WA state where homestead exemption is $125000. Now if someone owns a single family house worth $220000 and worried about potential lawsuit.He is considering putting this home in to a LLC. Can someone explain what are the advantages and disadvantages?... read more

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