Investing - Intuit TurboTax + Mint Community

Investing

Traditional IRA to Roth IRA conversion

My wife are cannot contribute to Roth IRA (due to high MAGI). So we decided to put in $7000 each to our respective Traditional IRA accounts in fidelity. Both of us are maximizing our 401(k) contributions through our employers. 1. I did not had a trad... read more

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

1099 misc - Substitute Payments

Hello, I have a margin account, and thus I have the following issues: -I have a substantial amount of substitute payments or "in lieu of dividends". -I have a substantial amount of margin interest. My margin interest exceeded my capital gains, ordina... read more

What do I attach if summarizing transactions from 1099-B involving noncovered transactions or wash sales?

For context, I am paper filing this year. I entered the summary of transactions for all of my 1099-Bs, but some 1099-Bs have noncovered transactions and adjustments for wash sale losses. For those 1099-Bs involving noncovered transactions or wash sal... read more

Options Spread Tax Gains/Losses Questions - Close losing half Dec and winning half Jan 1?

Options Tax Spread Gains/Losses Questions1. Can I close losing half late Dec and winning half Jan 1 (within 30 days of each other)?Goal = loss-harvest current year and push the gain to the next year. 2. If I bought/sold same strikes in a later month,... read more

Year end statement import from Primerica Shareholder Services

When I try to import my year end statement, everything looks good, Primerica Shareholder Services is on the import list. It then asks for a nine digit account number. Problem is that my account number is three letters, followed by six digits. It fail... read more

Covered call losses to offset long term capital gains on underlying stock

Hello,I own several shares of Microsoft MSFT - held for over 20 years.I was doing covered calls on MSFT and had to buy back some calls with MFST shooting up this spring. I have some realized losses from buying back the covered calls - short term capi... read more

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