Investing - Intuit TurboTax + Mint Community

Investing

529 to Roth conversion

Hello. I have been taking money out of my child's 529 plan to pay for her college expenses. All of the withdraws are for qualified expenses. My understanding is that I do not need to report any of that on my taxes, just keep records. Now I want to co... read more

TSP (Roth vs Traditional)

Hello. I am an active duty soldier serving in the army and I invest in the Thrift Savings Plan (TSP). I am thirty years old and I make between 37k-38k after taxes. Which option would you deem to be better for me tax-wise, Roth or traditional (current... read more

Is there any easy way to determine what I can contribute to a ROTH IRA for 2024??

Hoping someone can help. I am looking for help determining how much, if anything, I qualify to contribute to a ROTH IRA for 2024.I would like to preface in advance - I do not have an accountant as I prepare all my taxes myself using turbo tax. Last J... read more

Paid expenses with money that was lent to me, do I still report my expenses on my taxes?

Import Broker Statement in TurboTax Desktop App

I am still working on my 2023 return using TurboTax desktop app... but I am unable to import tax docs from my brokers websites.. When I try to import ETrade or Interactive Brokers, the app gives error that statements will be available after Feb 2025.... read more

How do I report a loss from a convertible note purchase in a private corporation?

Four years ago, I invested in a private corp. via a convertible note. I paid taxes on interest income from 'deemed' interest the first two years. The third years it converted into equity. This year it was acquired for the assumption of debt and all s... read more

403b contribution

Hi,I am trying to plan next year contribution by front loading max allowance. I plan to work only half year (Jan - June 2025), then travel the world a bit Some relevant information below:- 50 years- Residing in Calif-Single filing taking standard ded... read more

Transfer from Maryland 529 to Able Now account question

I want to transfer the max $18000 from my sons 529 account to my sons Able Now account. Both accounts have forms for this transfer but I'm trying to do it all electronically by taking a 529 distribution to my checking account that is linked to the 52... read more

Vehicle Donations and Quad Cycle Cart

I have been attempting to sell a Classic Vehicle for a while now as well as a Vintage Quad Cycle Cart, but they have not yet sold, so I was wondering if I was to donate both for a good cause with a legitimate entity, how much of their value can I cla... read more

De minimis safe harbor and 1031 exchange

Are there any consequences to doing a 1031 exchange in the future, after taking de minimis safe harbor or de minimimus routine maintenance elections that I'm not thinking about? Want to make sure using these will be good in the long run. Several prop... read more

Recovering an expense that must be depreciated.

My wife and I own an investment property, a duplex, purchased in 1999 and paid off in 2008.The gross rental income is $1,200 per month.The house is currently in need of some foundation repair along a 12 foot section of basement wall, and will soon ne... read more

de minimis safe harbor limitation amount

Can i make the de minimis safe harbor election, but lower the threshhold to $1,500 for example instead of $2,500, as long as its consistent applied and i write up a statement as such in my records?

Invest interest and dividends from regular investment account into SEP IRA?

Let's say a friend has stocks in an investment account. Those stocks are earning interest and dividends. Is it advantageous to put the dividends and interest into investments such as stocks inside the SEP IRA?

Missed RMD prior to death / Form 5329?

Quick question about missed RMD's Elderly parent passed away Jan 2024, having taken RMD's since 2019 but not having taken RMD's for 2023 (illness) or 2024 (death). I understand that the RMD for 2024 should be taken by me, the non-eligible designated ... read more

Crediting mother's money into her bank account

My 80 yr old Mother immigrated to the US in '23 to live with me. Since she doesn't have any source of income in US we did not open any bank accounts for her. She had a property transaction in her home country in 23 proceeds from which about $70,000 U... read more