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
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
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
PN08Posted 2 weeks ago
| Latest post 2 weeks ago by
dmertz
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
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
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
Matt18Posted May 2, 2023
| Latest post May 2, 2023 by
tagteam
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
RUdtsMTPosted April 17, 2023
| Latest post April 19, 2023 by
GeorgeM777
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
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
kgef3gPosted April 17, 2023
| Latest post April 17, 2023 by
AmyC
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_WAPosted April 16, 2023
| Latest post April 17, 2023 by
Vanessa A
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?
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
CG1563Posted April 13, 2023
| Latest post April 14, 2023 by
AmyC
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-freshPosted April 6, 2023
| Latest post April 12, 2023 by
moodycr
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
yj0Posted April 5, 2023
| Latest post April 12, 2023 by
AliciaP1
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
