Other financial discussions

Jane was over 59 ½ and had retired a couple of years before and not taken any distributions from her 401k.  On November 1, 2022, she took a total distribution from the 401k and elected to take 3000 shares of XYZ stock to a taxable brokerage account under NUA rules while rolling the remaining balance to her traditional IRA.  The plan administrator provided a statement of the 3000 shares distributed with a share price of $100 at the time of distribution, a market value of $300,000, a cost basis of $75,000, cost price of $25/share and unrealized appreciation of $225,000 and the rest of the account was rolled over to her IRA. Jane’s account statement from the day before distribution has additional cost basis information about the 3000 shares with 1500 shares with cost basis of $30,000 ($20/share) and 1500 shares with cost basis of $45,000 ($30/share) (actual details included a wider range of values by dollar range but this illustrates the concept).  On Decembe

I have been trying to get a refund for an incorrect CD version of TurboTax I purchased.  Costco had the "Home and Business" version, which I found out was not the one I needed for my LLC taxes after I installed the program and started my taxes.  It said I needed the "Business" only version. I can't return it to Costco because it is open. Apparently Costco didn't carry the one I needed.Unfortunately - I have submitted multiple refund request through your online form.  And each time I get a refusal email stating that the correct information was not on the form or the attachment could not be opened.  I know the form is filled out correctly, so I can only assume that the attachment is the issue.  Please tell me what format I am supposed to use to attach the receipt?  I've tried, .pdf; .do; .docx; .xlsx; .jpeg; .jpg - I've called the help number and they just said to resubmit - the Facebook message just blew me off and said wait until the last one I filed

Greetings! Is an annuitized pension inherited by death of a spouse subject to RMDs? I've been getting monthly payouts since 2015, but, for the first time this year, TurboTax is asking if these "withdrawals" are RMDs (my late spouse would have turned 72 in 2022).  Thanks in advance for your guidance.

I have not received my 1099.  I rollover funds from a old Roth IRA to a new Roth IRA can I still file my taxes and admen later?

I bought my townhouse 7 years ago not knowing there was an illegal vacation rental next door.  The owners lied to the city, HOA, builder and realtors.  I has meetings with the city, HOA, builder, realtors to try to make it stop.  The builder said it was his number one priority to end the situation in his new project.  The owners had no garbage service, the renters were to pack it out so there was a mouse infestation.  I never knew who or what was going to be next door when I got home.  The noise was intolerable and the owners started retaliating against me by having some of their tenants harass me, a then 63 year old retired nurse.They owner on the other side of this unit sold as he did not want to deal with the situation.  I left and decided to rent and move back in when the situation cleared itself, knowing I had 5 years to move back in before the cap gains exemption was not available.  Enter Covid.   Because of a moratorium on rental

I do not recommend using Turbotax online for your taxes. The online login enforces recaptcha verification, even if you enable Two-factor authentication, as if a bot was going to get through that. When you call support for online questions they don't help. There is no "contact us" for online support. There is zero support for using Turbotax. The web developers need to 1. Fix the website, hosted on AWS by reducing link-redirection errors. 2. Remove recaptcha checks. 3. Disable spamming advertisements in content windows. 4. Enable "multi-document" and bulk upload.

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in December 2022, my husband took a gross distribution of $74,779.85 and then in late January 2023 he opened an annuity with the entire amount.   It looks like we are payting taxes on the amount in 2022 because I have nothing to off set the amount yet.   So is that correct, we pay taxes in 2022 on this amount?   what happens in 2023?

For 2022 I maxed out my company 401(k) of $27,000 (I'm over 50) split evenly between Roth and Traditional.  Are my wife and I still able to contribute $7000 each into personal Vanguard Roth IRAs?  Thank you for your time.Timothy

This is my first year as a self-employed person, so I’m filing for that. And I had to file a W-2 for a job I previously worked, and I entered a 1098T since I was a student for five months last year.  I’ve pretty much finished the input on everything but it keeps asking me to fill out form 8615. My parents claimed me as a dependent on their taxes. Why do i need this form? can I delete it? 

I had a balance on my credit card at the end of the year. where do i report this?

I am retired engineer and I paid the professional Civil Engineer license fee to keep it active.  Is it tax deductible? Where do I entered in TT?Thanks

My mother-in-law is on Medicaid.  Does she need to file a federal tax return or an Indiana state return.  She is in a critical care facility.  Most of her money goes to the facility.  If she does have to file, which form does she use.?

Just want to verify that Turbo tax was wrong as I was working on my tax return.I turned 72 on October 2022.  That should mean I have until April 1, 2023 to take my 1st RMD and another before December 31, 2023 , Correct? Instead, I took my 1st RMD on December 2022, therefore, I could take my 2nd (2023) RMD before the end of this year, Correct?I just input my RMD I took in 2020 into Turbo Tax and   it is warning that I have to take one (another?) before April 1, 2023.TT is wrong, correct? Thanks

I have a small investment in the General Partner of an old limited partnership investment (circa 2003). It is my only remaining investment that results in a K-1 and this requires me to go on extension every year since the K-1 is not available until October usually. The K-1 typically does not have any figures higher than $10 yet they claIm that the fund will remain open for at least 2 more years.  I am really done with it.  Is there a way that I can officially advise the investment manager that I relinquish ownership so that I do not have to fuss with the K-1 for these small amounts and continually go on extension?  Please let me know if it's possible and if so, how to do this. Thank you.

how to determine how many times a TT CD has been used in different desktops?

TurboTax intentionally lobbied the government to make sure that filing your taxes is not free and not easy to do. Makes me not want to use the service, since the business practices are shady. It's harder to do my taxes without opening my wallet for them, so feels weird to have used it this tax season. Next year will probably just file them by hand.

I closed on a duplex at the end of September 2022, and I live in the lower apartment. The upper is available as a rental, and was for the remainder of 2022, but no renters applied. I have expenses for additional work done on the rental unit, as well as utilities that I've paid for, and standard costs for the home purchase like mortgage interest. May I still deduct interest, utilities, expenses etc. for the upper apartment, even though it produced no income for 2022?

I purchased a house in Savannah, GA 15 years ago and maintained it as a rental property the entire time. Three years ago I refinanced it and added my daughter's name to the title (but not the loan) I sold it last year.  The costs and profits were split equally between my daughter and myself at closing. I was told that the capital gains and depreciation recovery for the entire 15 years need to be split equally between myself and my daughter on this year's taxes.  Is that correct?  Will I have to make a manual entry in TurboTax somewhere to reflect this, both for the depreciation and the capital gains.?

  Welcome back community members! And if you're here for the first time just know we are happy to have you. In our past #CommunityChatter installment we had a "This or That" discussion on whether you're a spender or a saver. This week we have something a little different for you all.        While women are imaginative, creative and innovative entrepreneurs, they endure biases in business and must overcome setbacks daily. Women-owned businesses are problem-solving while focusing on wellbeing, sustainability, and community. This means that we can find a woman-owned business that serves you and your needs while also helping your community. There is something for everyone.    A recent study by Intuit Quickbooks has shown that both men- and women-owned businesses have an equal appetite for growth and retention. However, history has shown that women have generally either struggled to retain bank loans to fund their businesses OR they are more likely t

I really enjoy using my Mint app to keep up with investments.  All the financial companies I have investment with update beautifully ACCEPT Mass Mutual Insurance and Annuity. It has been 4 months since it updated…why?  Merle H

I have installed several mobile banking applications and surely you too, but I have always had the question, how do you do it? does anyone have any idea? and the question that matters most to me is, can someone like me create their own financial application? Since they are bank applications I usually think that only people with a lot of money can create them, for example businessmen, but can people or common users like me create it?

Mint no longer imports check numbers from wells fargo.i have asked this of support for the past year and received no solution. i am going to have to leave Mint because this problem is going unaddressed. i have been using Mint for 13 years so this is disappointing.And i know this is not the proper place to post this, but after 20 minutes signing up on this discussion support group, i did not see an alternative.

  Welcome back! We're glad to have you here with fellow financially inquisitive folks.    As we know, some people are born savers while others are born spenders. While most of us are generally familiar with the “pain of paying,” some just love to spend, and saving money goes against every instinct in their body. For others, saving money is the only thing that matters. So we were wondering if you enjoy saving money or spending money?     ++++++   Responses from our team:   MayraM: I was born a natural spender, but luckily I also have a very strong drive to work and provide for myself. I’ve also learned to practice responsible spending and I don’t normally like to buy overpriced things. I am perfectly happy with my Target handbag.  💸💸💰   Debra_S : I feel like I am a little of both. I do think of myself as frugal, I will look for the best deal when I make purchases, but I “like expensive” as my niece says. So,

Where is my post?  I want to know where the Communication section is.  The website says I can limit the sharing of my information in the Communications section.  If you removed my post, please re-post it.  I want an answer.