Investing topics https://ttlc.intuit.com/community/investing/discussion/02/215 Investing topics Sun, 16 May 2021 19:35:23 GMT 215 2021-05-16T19:35:23Z Selling stocks and option within 25 days of teach other for a loss and a profit, does the profit become a wash sale ? https://ttlc.intuit.com/community/investing/discussion/selling-stocks-and-option-within-25-days-of-teach-other-for-a-loss-and-a-profit-does-the-profit/01/2279491#M941 <P>Hi all,</P><P>&nbsp;</P><P>So on&nbsp; December 10, 2019 I bought 10 stock ABC for 1,500 and December 20, 2019 I sold 10 of stock ABC for $500 with a wash sale loss of $1000, and then on December 25, 2019 I bought 1 option of stock ABC for $900. I sold the option for $950 on January 20, 2020, does that mean I need to include my wash sale in the profit/loss calculation for ABC option ? If yes, my profit of $50 will become loss since $50-1000 = -$950.&nbsp; If on January 25, 2020 I bought back 10 ABC stock for $750, and sold it on April 1, 2020 for $900, should I include the wash sale of -$950 from the profit so now my loss is $150-$950 = $800?</P> Sat, 15 May 2021 20:31:57 GMT https://ttlc.intuit.com/community/investing/discussion/selling-stocks-and-option-within-25-days-of-teach-other-for-a-loss-and-a-profit-does-the-profit/01/2279491#M941 amydeh2018 2021-05-15T20:31:57Z Sold a position in a stock and reinvested the entire proceeds back into the same stock on the same day. How is this reported https://ttlc.intuit.com/community/investing/discussion/sold-a-position-in-a-stock-and-reinvested-the-entire-proceeds-back-into-the-same-stock-on-the-same/01/2273017#M937 Thu, 13 May 2021 21:39:17 GMT https://ttlc.intuit.com/community/investing/discussion/sold-a-position-in-a-stock-and-reinvested-the-entire-proceeds-back-into-the-same-stock-on-the-same/01/2273017#M937 Mac37 2021-05-13T21:39:17Z IRA contribution deduction https://ttlc.intuit.com/community/investing/discussion/ira-contribution-deduction/01/2271585#M935 <P>I was only eligible to contribute to my employer 401K for 5 weeks out of the year in 2020 but did not contribute because I was leaving the company. I make over $75K last year. Because I was eligible for 401K for 5 weeks of the year even though I did not contribute, does this make me ineligible to deduct my IRA contributions because of my income level for the entire year?</P> Thu, 13 May 2021 15:12:09 GMT https://ttlc.intuit.com/community/investing/discussion/ira-contribution-deduction/01/2271585#M935 cmmisu2nu 2021-05-13T15:12:09Z Backdoor Roth - TurboTax CPA a thing? https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-turbotax-cpa-a-thing/01/2271268#M934 <P>I'm looking for a tax situation for 2021 that goes beyond my ability to take care of most of my finances on my own. If I sign up for TurboTax Live, is this the kind of thing I'm able to talk with a CPA on? I need to understand the tax implications of rolling over a traditional IRA into a 401k so I can contribute to a Roth for backdoor conversions...can all of that be done in the same year?</P> Thu, 13 May 2021 13:11:28 GMT https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-turbotax-cpa-a-thing/01/2271268#M934 micahman33 2021-05-13T13:11:28Z Currency Investment https://ttlc.intuit.com/community/investing/discussion/currency-investment/01/2269509#M933 <P>I purchased Iraq Dinar currency over 10 years ago.&nbsp; It appears that the currency maybe revalued resulting in significant currency gains.&nbsp; Is this a capital gain and is there any tax strategies that I can use to avoid paying taxes?</P><P>&nbsp;</P><P>Thank you for your help.</P><P>&nbsp;</P><P>David Eberstein&nbsp;&nbsp;</P> Wed, 12 May 2021 21:17:51 GMT https://ttlc.intuit.com/community/investing/discussion/currency-investment/01/2269509#M933 davideberstein 2021-05-12T21:17:51Z I sold some Restricted Stock with Various acquisition dates. How can I determine the lots when my broker's forms don't detail them? https://ttlc.intuit.com/community/investing/discussion/i-sold-some-restricted-stock-with-various-acquisition-dates-how-can-i-determine-the-lots-when-my/01/2261264#M931 <P>I'm sure I'm not the only person who's run into this... I sold some Restricted Stock through Smith Barney (Stock Plan Connect) and they reported some of the lots has having a 'Various' acquisition date. I have double checked the individual trade confirmations as well as the consolidated year-end report, and nowhere does it break down the mapping of actual shares sold to the lots they originated from (by which I could work back the Vesting details from the Stock Plan Vesting and Transaction tables I downloaded).</P><P>&nbsp;</P><P>I feel like I'm stuck. I don't know that this will change my taxes up, down, or sideways, but TurboTax wants Vesting and Grant information for each lot that fueled these "various" date RS stock sales, and I can't provide it. Should I call Smith Barney to see if they can somehow clarify these line items for me?</P> Mon, 10 May 2021 17:38:17 GMT https://ttlc.intuit.com/community/investing/discussion/i-sold-some-restricted-stock-with-various-acquisition-dates-how-can-i-determine-the-lots-when-my/01/2261264#M931 JERisBRISK 2021-05-10T17:38:17Z Investment Courses and Special Reports https://ttlc.intuit.com/community/investing/discussion/investment-courses-and-special-reports/01/2257868#M930 <P>Are investment courses (such as Bonds or Artificial Intelligence Investments tax deductible?</P> Sat, 08 May 2021 13:51:50 GMT https://ttlc.intuit.com/community/investing/discussion/investment-courses-and-special-reports/01/2257868#M930 Teddy Eddy 2021-05-08T13:51:50Z Confused? : Still Haven't Received Capital Gains Loss https://ttlc.intuit.com/community/investing/discussion/confused-still-haven-t-received-capital-gains-loss/01/2254731#M924 <P>So i filed my federal taxes and capital gains loss on turbo tax , my first year investing so i was wondering when am i supposed to get my capital loss return back?</P> Thu, 06 May 2021 20:18:54 GMT https://ttlc.intuit.com/community/investing/discussion/confused-still-haven-t-received-capital-gains-loss/01/2254731#M924 mike4156 2021-05-06T20:18:54Z 2019 I had an investment loss ~1000.00 2020 turbo tax shows the loss in 2019 and I have no loss in 2020. When I do federal check, https://ttlc.intuit.com/community/investing/discussion/2019-i-had-an-investment-loss-1000-00-2020-turbo-tax-shows-the-loss-in-2019-and-i-have-no-loss-in/01/2247168#M921 <P>I sold investments in 2019 and had $1000.00 loss based on 2019 1099-B forms.</P><P>&nbsp;</P><P>In 2020 I had no 1099-B.&nbsp;</P><P>&nbsp;</P><P>In 2020 TurboTax premier, I get an error when running the federal check.&nbsp; When I look at Investment income, it shows 2019 loss and zero for 2020.&nbsp; When I click on "Update", there is a line containing no financial institution name and values of zero for Gross Proceeds and Gain/Loss.&nbsp; I also see it shows "YES" under needs info.</P><P>When I edit the line item, it shows "Untitled" and no gross proceeds.</P><P>&nbsp;</P><P>Why did this occur and how should I resolve this.&nbsp; &nbsp;If I delete this entry then I am able to proceed.&nbsp; Is this the proper resolution ?</P> Mon, 03 May 2021 16:07:37 GMT https://ttlc.intuit.com/community/investing/discussion/2019-i-had-an-investment-loss-1000-00-2020-turbo-tax-shows-the-loss-in-2019-and-i-have-no-loss-in/01/2247168#M921 TripleD 2021-05-03T16:07:37Z Preparing a Rental for Sale https://ttlc.intuit.com/community/investing/discussion/preparing-a-rental-for-sale/01/2246170#M920 <P>I had to do a&nbsp; significant amount of work including items normally classified as expense such as painting to get a rental propery ready to sell.&nbsp; This was accomplished in 2020 and the property was sold in 2021. No tennants were in the property after these improvements.&nbsp; &nbsp;My income is greater than 150k so no passive expenses are deductable. What do I do with all of these expenses that I incurred in 2020?&nbsp; How can they benefit me against the sale.&nbsp;</P> Mon, 03 May 2021 01:22:02 GMT https://ttlc.intuit.com/community/investing/discussion/preparing-a-rental-for-sale/01/2246170#M920 Dorshire 2021-05-03T01:22:02Z Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess https://ttlc.intuit.com/community/investing/discussion/turbo-tax-asking-if-i-have-done-an-excess-contribution-to-roth-but-have-already-removed-excess/01/2244414#M917 <P>Hi Team,</P><P>&nbsp;</P><P>Would appreciate any help on this question: I see a question about whether I have contributed an excess amount to a Roth IRA in 2020 or earlier. If I have done so, but already conducted a removal of excess and paid the additional fees, etc. then how should we address this in Turbo tax?&nbsp;</P><P>&nbsp;</P><P>I imagine the answer is "No" because it was effectively removed from the record by conducting a removal of excess. Thanks for you help!&nbsp;<LI-USER uid="88"></LI-USER>&nbsp;,&nbsp;<LI-USER uid="2624"></LI-USER>&nbsp; do either of you know?</P><P>&nbsp;</P><P>&nbsp;</P> Sun, 02 May 2021 01:53:42 GMT https://ttlc.intuit.com/community/investing/discussion/turbo-tax-asking-if-i-have-done-an-excess-contribution-to-roth-but-have-already-removed-excess/01/2244414#M917 aminhari 2021-05-02T01:53:42Z Is this considered a wash sale? I sold shares of a stock that I purchased at different times prior to the sale. https://ttlc.intuit.com/community/investing/discussion/is-this-considered-a-wash-sale-i-sold-shares-of-a-stock-that-i-purchased-at-different-times-prior-to/01/2231305#M915 <P>On Jan 15, I bought 100 shares of a stock at $11.50 for a total of $1,150. &nbsp;</P><P>On Feb 25, I bought 100 more shares of the same stock at $10.50 for a total of $1,050.</P><P>On Mar 10, I sold all 200 of these shares at $9.50 for a total of $1,950, a loss of $250.</P><P>&nbsp;</P><P>Is the loss from the 100 shares bought in January considered a deductible tax loss since these shares were bought over 30 days prior to the sale? And therefore only the 100 shares bought in February would be a wash sale?</P> Sun, 25 Apr 2021 22:32:27 GMT https://ttlc.intuit.com/community/investing/discussion/is-this-considered-a-wash-sale-i-sold-shares-of-a-stock-that-i-purchased-at-different-times-prior-to/01/2231305#M915 wwwmixer 2021-04-25T22:32:27Z IMRF contribution deduction https://ttlc.intuit.com/community/investing/discussion/imrf-contribution-deduction/01/2230341#M914 <P>My wife is a school nurse (in IL) - she pays social security and also contributes to an IMRF.&nbsp; Is there a place in TurboTax to enter the IMRF contributions?</P> Sun, 25 Apr 2021 16:26:16 GMT https://ttlc.intuit.com/community/investing/discussion/imrf-contribution-deduction/01/2230341#M914 WR2020 2021-04-25T16:26:16Z How to report the "Payment in Lieu" Income from broker lending stock program https://ttlc.intuit.com/community/investing/discussion/how-to-report-the-payment-in-lieu-income-from-broker-lending-stock-program/01/2227460#M913 <P>I received a Payment in Lieu for stocks that my broker loans out.&nbsp; This is not reported on the 1099's but rather included as a last line item Payment in Lieu with a footnote saying this information was not reported to the IRS.&nbsp; So how do I report this to the IRS?&nbsp; &nbsp;I don't think I know which stocks it is associated with.</P> Fri, 23 Apr 2021 21:26:25 GMT https://ttlc.intuit.com/community/investing/discussion/how-to-report-the-payment-in-lieu-income-from-broker-lending-stock-program/01/2227460#M913 jhoughten 2021-04-23T21:26:25Z Is there a Mortgage Interest Deduction Limit for Rental Properties? https://ttlc.intuit.com/community/investing/discussion/is-there-a-mortgage-interest-deduction-limit-for-rental-properties/01/2221433#M911 <P>I know that I can only deduct interest (or any expenses for that matter) up to my rental income, but is there a limit on the loan amount on which I can deduct my interest against?</P><P>&nbsp;</P><P>For example, I read that a couple MFJ can deduct interest on a mortgage of up to $750,000.</P><P>&nbsp;</P><P>Does that limit apply to investment/rental properties, such that if my primary mortgage and my investment mortgages are above $750,000, I cannot deduct interest on the portion that's above $750,000?</P> Tue, 20 Apr 2021 22:42:42 GMT https://ttlc.intuit.com/community/investing/discussion/is-there-a-mortgage-interest-deduction-limit-for-rental-properties/01/2221433#M911 j0ntaxID00 2021-04-20T22:42:42Z I disposed of all my units in a PTP and I don't think that Turbo tax has deducted the carry over passive losses. How can I check or how can I capture these losses? https://ttlc.intuit.com/community/investing/discussion/i-disposed-of-all-my-units-in-a-ptp-and-i-don-t-think-that-turbo-tax-has-deducted-the-carry-over/01/2181982#M889 Thu, 08 Apr 2021 15:02:31 GMT https://ttlc.intuit.com/community/investing/discussion/i-disposed-of-all-my-units-in-a-ptp-and-i-don-t-think-that-turbo-tax-has-deducted-the-carry-over/01/2181982#M889 Laurie20 2021-04-08T15:02:31Z Roth IRA for 2020 https://ttlc.intuit.com/community/investing/discussion/roth-ira-for-2020/01/2176778#M885 <P>I have a sizeable amount that I can still contribute to my Roth for 2020.&nbsp; I know I have up until I file my taxes to do so, but am not sure how to attribute it to 2020.&nbsp; It looks like in Turbo Tax I just write it out as a simple number (what I have done already during the year plus what I do now).&nbsp;&nbsp;</P><P>&nbsp;</P><P>For when I make the purchase, is there something that needs to be called out so that it is not attributed to my 2021 Roth/tax information - or do I just jot it down in my records for 2021 tax filing.&nbsp; It is with Vanguard but I haven't contacted them yet.</P> Tue, 06 Apr 2021 21:32:46 GMT https://ttlc.intuit.com/community/investing/discussion/roth-ira-for-2020/01/2176778#M885 ChrisC3 2021-04-06T21:32:46Z Got an error for missing cost basis https://ttlc.intuit.com/community/investing/discussion/got-an-error-for-missing-cost-basis/01/2169246#M882 <P>I imported my 1099 forms from ML investment account in turbo tax. When I performed the check, it told me there are 2 errors, both are due to missing cost basis. But the problem is, the 1099 B , there is no cost basis for this transaction (see below snapshot for the 1099B, the cost basis for the second line is N/A. Just wondering, should this whole portion be imported to the 1099 B worksheet at all in turbo tax? Can anyone help? I can't find anything in my ML account. How can I fix this error?</P><DIV class="mceNonEditable lia-copypaste-placeholder">&nbsp;</DIV><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="ML_noCostbasis.jpg" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/20390iCAA5082CC5402262/image-size/large?v=v2&amp;px=999" role="button" title="ML_noCostbasis.jpg" alt="ML_noCostbasis.jpg" /></span></P><P>&nbsp;</P><P>Here is what I see in TT:</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="tt_error.JPG" style="width: 864px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/20391i96ED398465454BB2/image-size/large?v=v2&amp;px=999" role="button" title="tt_error.JPG" alt="tt_error.JPG" /></span></P> Sun, 04 Apr 2021 17:57:07 GMT https://ttlc.intuit.com/community/investing/discussion/got-an-error-for-missing-cost-basis/01/2169246#M882 fanchunrong 2021-04-04T17:57:07Z A tricky one: Ponzi capital loss reporting options and decisions https://ttlc.intuit.com/community/investing/discussion/a-tricky-one-ponzi-capital-loss-reporting-options-and-decisions/01/2162569#M879 <P>We got taken in what ended up being declared a Ponzi scheme, although the financial aspects were settled via a court negotiated agreement (with, as usual, lawyers being the only ones who profited <span class="lia-unicode-emoji" title=":winking_face:">😉</span> ).</P><P>I will keep this generic, so it applies more broadly.</P><P>I see several important questions/decisions, none of which are simple:</P><P>1) Date of loss</P><P>2) Basis of investment</P><P>3) Amount of loss</P><P>4) Type of loss (ordinary bad-debt, S/T capital, L/T capital)</P><P>&nbsp;</P><P>To make it even more complex, there is a radical difference between:</P><P>a) The basic financial numbers reported on a final K-1</P><P>b) The basic same numbers, documented by the Court-Appointed Receiver (and agreed to by all parties.)</P><P>(These are so different, the K1 for example shows a basis much higher than what we invested, and final year business losses that are also over the top.)</P><P>&nbsp;</P><P>In my case, I'm a not-well-paid nonprofit worker. Not owing much fed tax no matter what right now... but sure would like to at least preserve some tax deduction value into the future if nothing else.</P><P>&nbsp;</P><P>MY QUESTION: Does my thinking below make sense, on the choices and ways to report this?</P><P>&nbsp;</P><P>1) DATE</P><P>- Normally, the loss date is the date they determined there was an issue.</P><P>- BUT: if there is a possibility of a return, I'm required to wait until that's settled -- ie a determination is made that a return is likely, even if not known how much or exactly when.</P><P>- In this case, the hammer came down for them back in 2016, but it was July 31, 2020 when I was told how much I lost, and was told "someday" we would likely receive "some money". Heh.</P><P>&nbsp;</P><P>DECISION: I plan to report this for 2020.</P><P>&nbsp;</P><P>2) BASIS</P><P>- This should be simple. We invested $nn,000. And that's what the Court says too.</P><P>- But the final K-1 says our basis is more than $10k higher.</P><P>&nbsp;</P><P>DECISION: My gut sense is to trust and Do Not Argue with the Court. Perhaps add an attachment explaining my decision.</P><P>(I've done many attachments before <span class="lia-unicode-emoji" title=":winking_face:">😉</span> )</P><P>&nbsp;</P><P>3) LOSS AMOUNT</P><P>- The court gave a loss amount</P><P>- But any $$ I get back reduces the loss</P><P>- I do NOT want to pay tax on the refund of my own money...</P><P>&nbsp;</P><P>DECISION: I plan to report a loss at or below a level sufficient to cover any refund</P><P>&nbsp;</P><P>4) TYPE OF LOSS</P><P>a) The IRS allows a Ponzi Safe Harbor choice. That seems nice until one looks at the details in context.</P><P>---- the loss with this method becomes a Bad Debt loss, reportable as an itemized deduction</P><P>---- With the new rules about itemizing and std deduction, I'd have to lose a boatload of bucks for this to make ANY difference at all</P><P>--- AND, any "excess" just blows away in the wind.</P><P>&nbsp;</P><P>b) I see IRS (section 166) rules saying that an investment loss of this type, once the date is known, should be reported as a short term capital loss.</P><P>--- I like this for my situation. I do get capital gains sometimes...and AFAIK this would carry forward until used up.</P><P>&nbsp;</P><P>DECISION: I plan to report this as a S/T capital loss, using overrides as needed in turbotax to get there. (QUESTION: is there a btter way to do this?)</P><P>&nbsp;</P><P>FINALLY:</P><P>- I plan to basically ignore the K1 I received (months after the Court accounting) and trust the Court numbers</P><P>- Oh, the K1 is also a Final K1, and for 2019. I'd have to amend last year's to report that way... and it would have zero financial impact. I.e., would not save me a dime.</P><P>- I assume I need to write an attachment for my return to explain what I did with that and why.</P><P>(Honestly the K1 appears to be from outer space, not matching anything else ever seen.)</P><P>&nbsp;</P><P>THOUGHTS? I hope this makes sense... and even may be helpful to someone else.</P> Fri, 02 Apr 2021 04:14:34 GMT https://ttlc.intuit.com/community/investing/discussion/a-tricky-one-ponzi-capital-loss-reporting-options-and-decisions/01/2162569#M879 MrPeteH 2021-04-02T04:14:34Z Schedule K-1 (Form 1065) https://ttlc.intuit.com/community/investing/discussion/schedule-k-1-form-1065/01/2161403#M878 <P>I am 86 years old. I sold an investment in a Schedule K-1 (Form 1065) at a small, long term gain.&nbsp; This investment was in&nbsp; an IRA.&nbsp; Is this gain exempt from taxes because it was part of an IRA?</P> Thu, 01 Apr 2021 20:57:19 GMT https://ttlc.intuit.com/community/investing/discussion/schedule-k-1-form-1065/01/2161403#M878 WeimarJr 2021-04-01T20:57:19Z Inherited house turned rental https://ttlc.intuit.com/community/investing/discussion/inherited-house-turned-rental/01/2126838#M868 <P>My sister and I inherited my parents' paid-off house in Wilmington, NC, with no appraisal at time of death in 2017.&nbsp; Sister was executor and maintains that the estate owned the home until it left probate in June 2019, from which time we co-owned it.&nbsp; I worked on the house February and March 2020, and purchased her share of the home in March 2020 with a mortgage (my second -- I already have a primary mortgage) to acquire it as investment property (not primary residence).&nbsp; My sister moved out of the home at that time (she had been living there rent-free).&nbsp; Renters moved in the end of May 2020.&nbsp; I have already paid for three appraisals on the house (one ordered by my sister as executor in February 2019, one in fall 2019 to qualify for mortgage, and a third in February to re-certify the results before closing). Do I have to pay for another, retroactive appraisal to get Fair Market Value on date of death? Or can I use the alternate valuation date that my sister as executor used? Do I list the mortgage interest and points as a second mortgage under deductions &amp; credits, or under rental expenses? Also, do I need to issue 1099-NEC's for painting to get house ready for rent, etc.?&nbsp; House would have been ready to rent in March if the pandemic had not hit, as I had to return home due to lockdowns and could not work on the house again until May. I probably lost rental income due to that, and had to pay mortgage payments out-of-pocket during that time.&nbsp; Is there a tax break for that lost income potential, or do I have to list every day in 2020 until the renters moved in as personal-use days? Thank you!!!</P> Tue, 23 Mar 2021 20:28:58 GMT https://ttlc.intuit.com/community/investing/discussion/inherited-house-turned-rental/01/2126838#M868 Laurel2B 2021-03-23T20:28:58Z RETIREMENT https://ttlc.intuit.com/community/investing/discussion/retirement/01/2111492#M864 <P>Three questions.&nbsp;</P><P>&nbsp;</P><P>If I contributed to a Roth can I deduct that amount?</P><P>I received a form 1099-R. I rolled the money over into a retirement account. &nbsp;Do I need to report it anywhere in my taxes?&nbsp;</P><P>I entered my employee retirement account contributions from box 12b when first started entering information from my W2. Do I reenter the amount in retirement section?</P> Sat, 20 Mar 2021 00:16:04 GMT https://ttlc.intuit.com/community/investing/discussion/retirement/01/2111492#M864 DAVID189 2021-03-20T00:16:04Z Do I need to report/amend if I sold my robinhood-stock 5 dollars? https://ttlc.intuit.com/community/investing/discussion/do-i-need-to-report-amend-if-i-sold-my-robinhood-stock-5-dollars/01/2108109#M859 <P>Robinhood sent me this information for last year.</P><P>1099-Div = $0.00</P><P>1099-Misc = $0.00</P><P>1099-B = $0.00</P><P>And the form 8949? says as shown.</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Untitled.png" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/19127i919A03BAEDA21C84/image-size/large?v=v2&amp;px=999" role="button" title="Untitled.png" alt="Untitled.png" /></span></P><P>I already filed my 2020 tax, do I need to submit amending forms 1040x?</P><P>&nbsp;</P> Fri, 19 Mar 2021 05:35:55 GMT https://ttlc.intuit.com/community/investing/discussion/do-i-need-to-report-amend-if-i-sold-my-robinhood-stock-5-dollars/01/2108109#M859 Duon 2021-03-19T05:35:55Z stock in a foreign corporation https://ttlc.intuit.com/community/investing/discussion/stock-in-a-foreign-corporation/01/2086095#M849 Mon, 15 Mar 2021 19:47:40 GMT https://ttlc.intuit.com/community/investing/discussion/stock-in-a-foreign-corporation/01/2086095#M849 Amccrystl 2021-03-15T19:47:40Z contributing to Roth or IRA https://ttlc.intuit.com/community/investing/discussion/contributing-to-roth-or-ira/01/2075639#M846 <P>Between my wife and I, we have a MAGI of a little more than $145k, she has a 401 via work and contributed 6% in 2020 and now upped to 10% for 2021.&nbsp; Turbo Tax tells me we don't get a "deduction" because we are over the MAGI limit for her contributions. &nbsp;</P><P>&nbsp;</P><P>We also have a ROTH but not via our work.&nbsp; I currently owe Uncle Sam over $4k, If I add $7k to our Roth before April 15th, it reduces our amount owed to $2800.&nbsp;</P><P>&nbsp;</P><P>Is this the best plan to reduce my amount owed for 2020 taxes or not.&nbsp;&nbsp; And what is the best plan for 2021, up my wife's deductions to her 401?&nbsp; Or something else.</P><P>&nbsp;</P><P>Thanks for your help.</P> Sat, 13 Mar 2021 23:52:18 GMT https://ttlc.intuit.com/community/investing/discussion/contributing-to-roth-or-ira/01/2075639#M846 BDE16602 2021-03-13T23:52:18Z 1099-B entry vs. form 8949 and schedule D https://ttlc.intuit.com/community/investing/discussion/1099-b-entry-vs-form-8949-and-schedule-d/01/2066090#M843 <P>I normally have a small number of 1099B entries, however this year I had a situation that resulted in one of my 1099B statements having approximately 250 entries, mostly a few cents, but none the less 250 entries. I painstakingly entered them all.&nbsp; When I printed my TT return to view, TT entered the TOTALS on lines "1a" and "8a" of Schedule D, respectively for Short Term &amp; Long Term gains/losses which were reported to IRS by Broker.&nbsp; There was only 2 of those 250 entries that were "E" (Long term-not reported to IRS) and those were entered on form 8949 by TT.&nbsp; I am confused as to why TT did that, but my question is: Do I need to snail mail a copy of my brokerage statement to the IRS due to the fact TT listed all those entries as TOTALS on line 1a &amp; 8a on my Schedule D, even though I entered all individually, thinking they would appear on Form 8949?&nbsp; I am not talking huge numbers (1a=$8.00 and 8a=$196).&nbsp; Also, should TT alert me if it is necessary to do so, when I efile my return?</P> Fri, 12 Mar 2021 02:32:57 GMT https://ttlc.intuit.com/community/investing/discussion/1099-b-entry-vs-form-8949-and-schedule-d/01/2066090#M843 drivemetodrink 2021-03-12T02:32:57Z Wash sale: How do I deal with "1456 days added to holding period." https://ttlc.intuit.com/community/investing/discussion/wash-sale-how-do-i-deal-with-1456-days-added-to-holding-period/01/2065029#M842 <P>I have several Long Term transactions on form 8949, Part III, Box D checked. A few transactions include "Wash sale: 1456 days added to holding period." What do I do with this info?</P> Thu, 11 Mar 2021 22:55:49 GMT https://ttlc.intuit.com/community/investing/discussion/wash-sale-how-do-i-deal-with-1456-days-added-to-holding-period/01/2065029#M842 ebarwick 2021-03-11T22:55:49Z Where do I enter bond premium non treasury obligations noncovered lots - Business Turbo Tax https://ttlc.intuit.com/community/investing/discussion/where-do-i-enter-bond-premium-non-treasury-obligations-noncovered-lots-business-turbo-tax/01/2042857#M835 <P>Thanks!</P> Sun, 07 Mar 2021 22:24:49 GMT https://ttlc.intuit.com/community/investing/discussion/where-do-i-enter-bond-premium-non-treasury-obligations-noncovered-lots-business-turbo-tax/01/2042857#M835 JD20201 2021-03-07T22:24:49Z IRA Dividends & Capital Gains Reinvested https://ttlc.intuit.com/community/investing/discussion/ira-dividends-capital-gains-reinvested/01/2037863#M832 <P>We did not receive a 1099-DIV from PFS Investments. We called and they only gave us the ending value as of 12/31/20. How do I report this?</P> Sat, 06 Mar 2021 20:57:02 GMT https://ttlc.intuit.com/community/investing/discussion/ira-dividends-capital-gains-reinvested/01/2037863#M832 BCholt12 2021-03-06T20:57:02Z Stepped up basis of stock following death of Joint Owner https://ttlc.intuit.com/community/investing/discussion/stepped-up-basis-of-stock-following-death-of-joint-owner/01/2025044#M825 <P>I own several publicly traded stocks that my parents bought for me when I was a child.&nbsp; Originally, they were owned via a UGM account.&nbsp; But when I became an adult, the stock was transferred to a joint account WROS owned jointly by me and my mother (my father died many years ago).&nbsp; My mother died in 2020.&nbsp; Question:&nbsp; Do I get a stepped up basis in 100% of the stock since 100% of the purchase price was paid by my parents?&nbsp;&nbsp;</P><P>&nbsp;</P><P>Thanks!</P> Thu, 04 Mar 2021 03:39:42 GMT https://ttlc.intuit.com/community/investing/discussion/stepped-up-basis-of-stock-following-death-of-joint-owner/01/2025044#M825 dms111 2021-03-04T03:39:42Z Form K1 Estates and Trusts holding up my taxes, TT says it's not ready but it's right there on the IRS website https://ttlc.intuit.com/community/investing/discussion/form-k1-estates-and-trusts-holding-up-my-taxes-tt-says-it-s-not-ready-but-it-s-right-there-on-the/01/1996610#M804 <P>So frustrated.&nbsp; I cannot file my taxes because TT says the form is not done and "check back later".&nbsp; Our income dropped 50% in the last year after the pandemic started but was too high to receive a stimulus because of 2019 income.&nbsp;&nbsp; We are eligible this year and for any further stimulus if we can JUST get these taxes done.&nbsp;</P><P>Can anyone help me understand when this form will make it into Turbo Tax ?<BR /><BR /><A href="https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf" target="_blank">https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf</A></P><P>&nbsp;</P> Sat, 27 Feb 2021 02:50:03 GMT https://ttlc.intuit.com/community/investing/discussion/form-k1-estates-and-trusts-holding-up-my-taxes-tt-says-it-s-not-ready-but-it-s-right-there-on-the/01/1996610#M804 Zarnon 2021-02-27T02:50:03Z Dividing 1099-B Earnings https://ttlc.intuit.com/community/investing/discussion/dividing-1099-b-earnings/01/1990962#M801 <P>How you divide 1009B earnings with spouse like you can on a 1099-INT.&nbsp; Turbo taxes is apply all the income to me so I can not qualify for an IRA deduction.&nbsp; The 1099-B earnings are from a joint&nbsp;brokerage account.</P> Fri, 26 Feb 2021 00:09:52 GMT https://ttlc.intuit.com/community/investing/discussion/dividing-1099-b-earnings/01/1990962#M801 meetma 2021-02-26T00:09:52Z where do I start on a 40 page composite?, https://ttlc.intuit.com/community/investing/discussion/where-do-i-start-on-a-40-page-composite/01/1987889#M800 Thu, 25 Feb 2021 16:40:28 GMT https://ttlc.intuit.com/community/investing/discussion/where-do-i-start-on-a-40-page-composite/01/1987889#M800 Jamc3 2021-02-25T16:40:28Z Tax for sold mutual funds and stocks in non-retirement accounts. https://ttlc.intuit.com/community/investing/discussion/tax-for-sold-mutual-funds-and-stocks-in-non-retirement-accounts/01/1978594#M792 <P>Tax-residency --&gt; Resident Alien<BR />Immigration status --&gt; F1 - OPT</P><P>&nbsp;</P><P>Assume that I sold some mutual funds and stocks, however never withdrew money out of the brokerage account. Do I still need to pay taxes on the gain (note that I have not withdrawn the gain yet.) ? I re-invested the money sold and earned more on them.<BR />Also, my broker has not sent me any 1099 form for these transactions. Please advice.</P> Wed, 24 Feb 2021 00:45:08 GMT https://ttlc.intuit.com/community/investing/discussion/tax-for-sold-mutual-funds-and-stocks-in-non-retirement-accounts/01/1978594#M792 noviceattax 2021-02-24T00:45:08Z Allocating investments from joint account https://ttlc.intuit.com/community/investing/discussion/allocating-investments-from-joint-account/01/1972819#M788 <P>My son and I opened a joint account to do some investments.&nbsp; The account has both names as owners, but the broker used my social security number on the 1099.&nbsp; For 2020, we had a capital loss.&nbsp; I imported the information from the broker to my tax return and would like to record an entry into Turbotax to allocate a portion of the loss to my son.&nbsp; Can someone tell me how to do that within the desktop Turbotax allocation?</P> Tue, 23 Feb 2021 00:44:16 GMT https://ttlc.intuit.com/community/investing/discussion/allocating-investments-from-joint-account/01/1972819#M788 adrooney 2021-02-23T00:44:16Z My Form 1099-R is incorrect https://ttlc.intuit.com/community/investing/discussion/my-form-1099-r-is-incorrect/01/1958345#M771 <P>I sold 200 shares of AAPL stock in my SEP / IRA account [number removed] for $56,431 and I gifted 100 shares of AAPL to each of my three children.&nbsp; My Form 1099-R shows a Gross Distribution / Taxable Amount of $92,899.25.&nbsp; That amount is incorrect because the 300 share of AAPL were gifts.&nbsp; Meanwhile, an agent of TD Ameritrade informed me that they have only one Distribution code (7) so they cannot discriminate between taxable distributions and non-taxable gifts.&nbsp; Furthermore, the IRS uses the amount designated by TD Ameritrade's 2020 Form 1099-R to compute my 2020 tax.&nbsp; When I tried to contact my local IRS office to make an appointment to discuss the problem, I was shuffled back and forth by their bots and I could not make an appointment.&nbsp; Logically, that means I will have to go to the IRS Office, take a number, wait to be served, told that I need to make an appointment. make the appointment for another day, then go home and wait until that day comes to pass.&nbsp; I say "Logically" because that happened to me in the past.</P> <P>&nbsp;</P> <P>What to do?&nbsp; Inquiring mind wants to know.</P> <P>&nbsp;</P> <P>David S</P> Sat, 20 Feb 2021 16:01:09 GMT https://ttlc.intuit.com/community/investing/discussion/my-form-1099-r-is-incorrect/01/1958345#M771 dubina666 2021-02-20T16:01:09Z ROYALTY https://ttlc.intuit.com/community/investing/discussion/royalty/01/1957845#M770 <P>I purchased land as an investment. I received coal royalty. Can I deduct the cost of the land?</P> Sat, 20 Feb 2021 13:24:33 GMT https://ttlc.intuit.com/community/investing/discussion/royalty/01/1957845#M770 stcanada 2021-02-20T13:24:33Z Paid cash as part of closing cost on a rental home. Can that be expensed? https://ttlc.intuit.com/community/investing/discussion/paid-cash-as-part-of-closing-cost-on-a-rental-home-can-that-be-expensed/01/1956182#M769 <P>I paid cash to buy a home that became a rental property; some of it obtained from mortgaging my own house, and some from cash on hand.</P><P>Can the cash on hand be considered a home rental expense?&nbsp; (Expenses you paid for the seller?)</P> Fri, 19 Feb 2021 23:22:58 GMT https://ttlc.intuit.com/community/investing/discussion/paid-cash-as-part-of-closing-cost-on-a-rental-home-can-that-be-expensed/01/1956182#M769 Somebody42 2021-02-19T23:22:58Z 1099 and multiple owners https://ttlc.intuit.com/community/investing/discussion/1099-and-multiple-owners/01/1941978#M760 <P>i own rental property with another person but the 1099 for rents came in my name only how do i handle this?</P> Wed, 17 Feb 2021 20:06:20 GMT https://ttlc.intuit.com/community/investing/discussion/1099-and-multiple-owners/01/1941978#M760 debraf 2021-02-17T20:06:20Z Cost basis for inherited stock https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-inherited-stock/01/1892777#M742 <P>My aunt died on 2/22/2018.&nbsp; Inherited stock from her was put into my account on June 27, 2018.&nbsp; I sold the stock in 2020.&nbsp; In looking at the 1099-B i noticed that some of the stock i inherited was acquired in May of 2018 i.e. between the date of my aunt's death and the date i came into possession of the stock (i am assuming her money manager was continuing to manage her account and that is how the May 2018 purchase was made).&nbsp; So what date do i use as a cost basis for the stock acquired after my aunt's death but before i was in possession of it?</P> Mon, 08 Feb 2021 22:30:08 GMT https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-inherited-stock/01/1892777#M742 ubernautilus 2021-02-08T22:30:08Z Deduction HOA fees https://ttlc.intuit.com/community/investing/discussion/deduction-hoa-fees/01/1911492#M727 <P>Can I deduct the HOA fees I paid each year now that the property has been sold?</P> Fri, 12 Feb 2021 18:43:59 GMT https://ttlc.intuit.com/community/investing/discussion/deduction-hoa-fees/01/1911492#M727 retiredff-selpilot 2021-02-12T18:43:59Z Selling Stocks https://ttlc.intuit.com/community/investing/discussion/selling-stocks/01/1891384#M720 <P>I sold 4 stocks last year. When I tried to enter them into Turbo Tax , 3 worked but one did not. The cost basis did not subtract from the proceeds.</P> Mon, 08 Feb 2021 19:20:20 GMT https://ttlc.intuit.com/community/investing/discussion/selling-stocks/01/1891384#M720 greek1207 2021-02-08T19:20:20Z 2019 Filing - K-1, Box 20 https://ttlc.intuit.com/community/investing/discussion/2019-filing-k-1-box-20/01/1878117#M713 <P>Why does Turbotax combine the amounts entered from K-1 Box 20 A and B onto my Form 4952 as Investment Interest Expense?&nbsp; Shouldn't the amount on Form 4952 just be the Code B amount?</P> Fri, 05 Feb 2021 18:17:40 GMT https://ttlc.intuit.com/community/investing/discussion/2019-filing-k-1-box-20/01/1878117#M713 JerryBG 2021-02-05T18:17:40Z ISO Purchases Shares Limitation is 99,999 https://ttlc.intuit.com/community/investing/discussion/iso-purchases-shares-limitation-is-99-999/01/1877485#M712 <P>When entering&nbsp; 3921 form information for ISO Stock Purchases in TurboTax Premier there is a limitation of 99,999 shares (Box 5).&nbsp; What do you do when you've purchased&nbsp; more shares and is there a way around this arbitrary limitation?</P> Fri, 05 Feb 2021 15:52:28 GMT https://ttlc.intuit.com/community/investing/discussion/iso-purchases-shares-limitation-is-99-999/01/1877485#M712 Stevewill1 2021-02-05T15:52:28Z 1099 B Wash Sale Loss Disallowed GLITCH as of 2/4/2021 https://ttlc.intuit.com/community/investing/discussion/1099-b-wash-sale-loss-disallowed-glitch-as-of-2-4-2021/01/1876270#M709 <P>Currently there is a glitch when filing your taxes for the disallowed wash sale loss, you have to round all the numbers for each stock you sold to the nearest dollar Example: 1285.78 rounds too 1286 , do this for all the numbers in each of your stock sales this year or wait for a update, I spoke with support for 2 hours while doing this work around on the glitch. this is a easy fix or wait for the update.</P> Fri, 05 Feb 2021 02:08:48 GMT https://ttlc.intuit.com/community/investing/discussion/1099-b-wash-sale-loss-disallowed-glitch-as-of-2-4-2021/01/1876270#M709 mike4156 2021-02-05T02:08:48Z roth ira https://ttlc.intuit.com/community/investing/discussion/roth-ira/01/1852164#M702 <P>I didn't work this year but my wife did.&nbsp; We found out that you can still place money in both IRAs.&nbsp; If it will be $1000 can we place the money in my IRA even though she is the one who earned money?</P> Sun, 31 Jan 2021 22:12:05 GMT https://ttlc.intuit.com/community/investing/discussion/roth-ira/01/1852164#M702 Zinnia_15 2021-01-31T22:12:05Z Determine long-term capital gains on Robinhood https://ttlc.intuit.com/community/investing/discussion/determine-long-term-capital-gains-on-robinhood/01/1817300#M690 <P>Hi,</P><P>&nbsp;</P><P>I'm currently investing on stocks through Robinhood. I'm thinking to invest long-term to reduce taxes. I'm trying to keep an asset for a little more than a year and sell it.&nbsp; Because I'm buying stocks from a company multiple times throughout the year, so some shares are new, and some are older.&nbsp;How do I determine whether an asset,&nbsp; or a number of shares are long-term or not?</P><P>&nbsp;</P><P>&nbsp;</P> Fri, 22 Jan 2021 17:47:31 GMT https://ttlc.intuit.com/community/investing/discussion/determine-long-term-capital-gains-on-robinhood/01/1817300#M690 ndnguyen 2021-01-22T17:47:31Z I'm wondering why I spent extra on TurboTax Premier, when apparently TurboTax Online has features Premier does not? https://ttlc.intuit.com/community/investing/discussion/i-m-wondering-why-i-spent-extra-on-turbotax-premier-when-apparently-turbotax-online-has-features/01/1823723#M663 <P>I purchased Premier because it is specifically promoted as having enhanced features for investments. Yet, now I find out that while one can input cryptocurrency sales as capital gains taxable events in the online version, there is no such option in premier. Setting aside the minor quibble that cryptocurrency is treated as property rather than as an investment per se, it would seem I've been shortchanged in available features. For that matter, you enter crypto in the online version&nbsp; apparently as follows:</P><P>&nbsp;</P><OL class=""><LI>Select<SPAN>&nbsp;</SPAN><STRONG>Federal</STRONG><SPAN>&nbsp;</SPAN>from the left menu, and&nbsp;<STRONG>Wages &amp; Income</STRONG><SPAN>&nbsp;</SPAN>from the menu near the top.</LI><LI>Scroll down and select<SPAN>&nbsp;</SPAN><STRONG>Show more</STRONG><SPAN>&nbsp;</SPAN>next to<SPAN>&nbsp;</SPAN><EM>Investment Income</EM>.</LI><LI>Select<SPAN>&nbsp;</SPAN><STRONG>Start</STRONG><SPAN>&nbsp;</SPAN>or<SPAN>&nbsp;</SPAN><STRONG>Revisit</STRONG><SPAN>&nbsp;</SPAN>next to<SPAN>&nbsp;</SPAN><EM>Cryptocurrency</EM>.</LI></OL><P>So quite clearly, the online version handles it under Investment Income - precisely what Turbotax Premier is supposed to be ideal for.</P><P>&nbsp;</P><P>This is, to put it mildly, frustrating.</P><P>&nbsp;</P> Sun, 24 Jan 2021 22:50:48 GMT https://ttlc.intuit.com/community/investing/discussion/i-m-wondering-why-i-spent-extra-on-turbotax-premier-when-apparently-turbotax-online-has-features/01/1823723#M663 anastrophe 2021-01-24T22:50:48Z Cost Basis for UTMA Withdrawal https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-utma-withdrawal/01/1830872#M652 <P>I want to sell some of the stocks in my UTMA that is 20+ years old. I just found out I have this account. What cost basis method should I be using if I dont plan to cash out the entire account?&nbsp;</P> Tue, 26 Jan 2021 21:46:13 GMT https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-utma-withdrawal/01/1830872#M652 Ilovedogs23 2021-01-26T21:46:13Z Capital Gains https://ttlc.intuit.com/community/investing/discussion/capital-gains/01/1761336#M648 <P>I had Long term capital gain in 2019 as stated in the online entries.&nbsp; But, my TurboTax filed return indicated that no Schedule D was required.&nbsp; My long term Capital gain was entered as an entry to the tax return.&nbsp; Then, how did TurboTax know the Capital Gain is Long Term and did my Tax calculate my tax for 2019?&nbsp; I do hope TurboTax did not treat the long term capital gain as ordinary income in my 2019 tax return.</P> Sat, 26 Dec 2020 07:01:26 GMT https://ttlc.intuit.com/community/investing/discussion/capital-gains/01/1761336#M648 huilam1942 2020-12-26T07:01:26Z Cryptocurrency mining company https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-mining-company/01/1769444#M646 <P>How is the yes/no cryptocurrency question answered when a person transacts shares in a non pass through C corporation that mines cryptocurrency?</P><P>example: nasdaq listed RIOT&nbsp;</P> Sat, 02 Jan 2021 18:19:48 GMT https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-mining-company/01/1769444#M646 the penguin 2021-01-02T18:19:48Z stock transactions https://ttlc.intuit.com/community/investing/discussion/stock-transactions/01/1769862#M643 <P>how many stock transactions can i enter in turbo standard version</P> Sat, 02 Jan 2021 23:11:11 GMT https://ttlc.intuit.com/community/investing/discussion/stock-transactions/01/1769862#M643 dharamchandna 2021-01-02T23:11:11Z Maximum IRA contribution https://ttlc.intuit.com/community/investing/discussion/maximum-ira-contribution/01/1740956#M609 <P>My daughter has a 401K at work. She also contributes to an IRA at a local bank. Is there a total amount that can be contributed to both separately, or both?&nbsp; Thx</P> Sat, 07 Nov 2020 06:01:56 GMT https://ttlc.intuit.com/community/investing/discussion/maximum-ira-contribution/01/1740956#M609 cgmartin 2020-11-07T06:01:56Z flip flop Real estate investment with friend https://ttlc.intuit.com/community/investing/discussion/flip-flop-real-estate-investment-with-friend/01/1739348#M605 <P>I am investing 100% money to buy a property with my friend.&nbsp; &nbsp;My friend will do all the management work to hire and fix up the property and will sell the property for profit.&nbsp; &nbsp;Profit&nbsp; is split between us 50 50.&nbsp; &nbsp;He is buying the home under his company LLC.</P><P>My question is what form I need from him to report my share of the profit of the investment that I made.&nbsp; &nbsp;Since it is investment income, I want to fill the schedule D so I can&nbsp; pay the low tax on my gain.&nbsp; &nbsp;Thank you</P> Sun, 01 Nov 2020 22:08:31 GMT https://ttlc.intuit.com/community/investing/discussion/flip-flop-real-estate-investment-with-friend/01/1739348#M605 shafiq 2020-11-01T22:08:31Z [email address removed] https://ttlc.intuit.com/community/investing/discussion/email-address-removed/01/1737783#M603 <P>received $75K for equity in home due to divorce.&nbsp;&nbsp;</P><P>Owe $25K for personal loan settlement.</P><P>Want to start an account for a child (IRA, trust?)</P><P>What is best way to invest without paying high taxes on remaining funds??&nbsp; How much can I put into personal savings account with out tax&nbsp; penalties???</P> Tue, 27 Oct 2020 15:31:42 GMT https://ttlc.intuit.com/community/investing/discussion/email-address-removed/01/1737783#M603 habelcon 2020-10-27T15:31:42Z what is relinquished property equity on a 1031 exchange https://ttlc.intuit.com/community/investing/discussion/what-is-relinquished-property-equity-on-a-1031-exchange/01/1720446#M577 <P>30 ye<SPAN>ars&nbsp;ago I bought&nbsp;a rental propety</SPAN></P><P><SPAN>20 years&nbsp;<EM>&nbsp;</EM>I did&nbsp;a qualified 1031 exchange</SPAN></P><P><SPAN>Now I&nbsp;am selling the 2nd building</SPAN></P><P><SPAN>On my exchange&nbsp;agreement from 20 years&nbsp;ago there is&nbsp;a $&nbsp;amount called&nbsp; "Relinquished Property Equity"&nbsp;</SPAN></P><P><SPAN>Is this&nbsp; amount the basis that I should use going into the calculation for the 2nd building?&nbsp;</SPAN></P><P><SPAN>I&nbsp;assume that I subtract the depreciation on the first building from this relinquished property&nbsp;amount / basis&nbsp; before calculating building 2?</SPAN></P> Tue, 15 Sep 2020 01:32:31 GMT https://ttlc.intuit.com/community/investing/discussion/what-is-relinquished-property-equity-on-a-1031-exchange/01/1720446#M577 mbardshore 2020-09-15T01:32:31Z Can I open IRA while I have Employee sponsored 401K https://ttlc.intuit.com/community/investing/discussion/can-i-open-ira-while-i-have-employee-sponsored-401k/01/1717383#M572 <P>Hello Experts,</P><P>&nbsp;</P><P>I participate in my employee sponsored 401K and my AGI exceeds the limits specified for Roth IRA.</P><P>Can I open an Traditional IRA account though two conditions are true:</P><P>- Participate in 401K</P><P>-AGI &gt;= limits.</P><P>&nbsp;</P><P>I understand that I may not be able to take deductions. Please help.</P> Mon, 07 Sep 2020 00:28:20 GMT https://ttlc.intuit.com/community/investing/discussion/can-i-open-ira-while-i-have-employee-sponsored-401k/01/1717383#M572 cspfire2024 2020-09-07T00:28:20Z 401K Rollover https://ttlc.intuit.com/community/investing/discussion/401k-rollover/01/1709178#M569 <P>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?</P> Sun, 16 Aug 2020 14:36:16 GMT https://ttlc.intuit.com/community/investing/discussion/401k-rollover/01/1709178#M569 CaliQuestions 2020-08-16T14:36:16Z How is Put option premium taxed? https://ttlc.intuit.com/community/investing/discussion/how-is-put-option-premium-taxed/01/1704280#M562 <P>Hi!</P><P>&nbsp;</P><P>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 &nbsp;profit be taxed when I file my taxes for the year 2022? &nbsp;As ordinary income, or as long term capital gains?</P> Wed, 05 Aug 2020 13:41:15 GMT https://ttlc.intuit.com/community/investing/discussion/how-is-put-option-premium-taxed/01/1704280#M562 nomad_dt 2020-08-05T13:41:15Z Brokerage Account Basics https://ttlc.intuit.com/community/investing/discussion/brokerage-account-basics/01/1701757#M556 <P>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.</P><P>&nbsp;</P><P>I read that TurboTax Premiere can link and import to brokerage accounts.&nbsp; Does this automatically import everything I need for my tax return and I don't need to worry about anything else?</P><P>&nbsp;</P><P>Do I need need to keep track of every stock/security that I sell throughout the year and report each sale individually to turbotax?&nbsp; Can I enter each sale as I go through the year so that I don't have a large number to enter all at once at filing time?</P><P>&nbsp;</P><P>Thank you for your help!&nbsp; As you can see, I am new to this.</P> Fri, 31 Jul 2020 11:56:06 GMT https://ttlc.intuit.com/community/investing/discussion/brokerage-account-basics/01/1701757#M556 dh103 2020-07-31T11:56:06Z ESPP SALES https://ttlc.intuit.com/community/investing/discussion/espp-sales/01/1669559#M549 <P>I sold stocks that were acquired through ESPP and dividend reinvestment of the stocks acquired through ESPP of a former employer. I received a W2 from my former employer for the sale and also a form 1099-B from my broker. How does turbo tax handle issues like this? I entered the info the way they are and am being asked for an adjusted cost basis. My broker told me I have all I need to file. No form 3392 was ever provided by my employer when these shares were acquired. How do I go about this?</P> Sat, 11 Jul 2020 14:27:45 GMT https://ttlc.intuit.com/community/investing/discussion/espp-sales/01/1669559#M549 nosorry 2020-07-11T14:27:45Z Cost basis calculators https://ttlc.intuit.com/community/investing/discussion/cost-basis-calculators/01/1678029#M547 <P>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.&nbsp;</P> Tue, 14 Jul 2020 01:53:31 GMT https://ttlc.intuit.com/community/investing/discussion/cost-basis-calculators/01/1678029#M547 Fretworn 2020-07-14T01:53:31Z questions for capital gain tax is double charge from my individual tax and capital gain tax? https://ttlc.intuit.com/community/investing/discussion/questions-for-capital-gain-tax-is-double-charge-from-my-individual-tax-and-capital-gain-tax/01/1669645#M540 <P>I have paid capital gain tax through my individual tax , Do I need to pay additional capital gain tax based 0%, 15%,25%? What form do I fill up to pay this additional tax?</P><P>Do both short term and long term&nbsp; need to pay additional capital gain tax according to 0%, 15%, 25%?</P><P>&nbsp;</P><P>Thanks,</P><P>&nbsp;</P><P>Doris&nbsp;</P><P>&nbsp;</P> Sat, 11 Jul 2020 15:15:38 GMT https://ttlc.intuit.com/community/investing/discussion/questions-for-capital-gain-tax-is-double-charge-from-my-individual-tax-and-capital-gain-tax/01/1669645#M540 yilanwer12 2020-07-11T15:15:38Z Taxes https://ttlc.intuit.com/community/investing/discussion/taxes/01/1669223#M538 Sat, 11 Jul 2020 05:05:56 GMT https://ttlc.intuit.com/community/investing/discussion/taxes/01/1669223#M538 isaacramsey 2020-07-11T05:05:56Z Opening an IRA while on unemployment https://ttlc.intuit.com/community/investing/discussion/opening-an-ira-while-on-unemployment/01/1662421#M535 <P>Hello,</P><P>&nbsp;</P><P>I am currently unemployed due to coronavirus, but in doing my 2019 taxes turbo tax suggested opening/contributing to an IRA. I do not currently have one, but if I did open one, will it affect my current unemployment benefits? I workers all of 2019 and for 2 1/2 months in 2020, the year of my unemployment benefits.</P><P>&nbsp;</P><P>Will my Connecticut unemployment benefits be reduced or stopped if I open this IRA?</P><P>&nbsp;</P><P>thank you!!!</P> Tue, 07 Jul 2020 22:47:19 GMT https://ttlc.intuit.com/community/investing/discussion/opening-an-ira-while-on-unemployment/01/1662421#M535 simonlhowes 2020-07-07T22:47:19Z Modifying sales category in stock sales https://ttlc.intuit.com/community/investing/discussion/modifying-sales-category-in-stock-sales/01/1658728#M534 <P>One of my Stock sales is under the Box D sales when it should be under Box A per 1099-B. How can I correct it?</P> Mon, 06 Jul 2020 02:58:04 GMT https://ttlc.intuit.com/community/investing/discussion/modifying-sales-category-in-stock-sales/01/1658728#M534 Reyhaneh274 2020-07-06T02:58:04Z 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? https://ttlc.intuit.com/community/investing/discussion/if-i-expect-to-pay-tuition-in-the-coming-years-should-i-keep-contributing-to-a-401k-or-open-a-529/01/1651966#M533 <P>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?&nbsp;</P><P>&nbsp;</P><P>Thanks!</P> Tue, 30 Jun 2020 19:30:03 GMT https://ttlc.intuit.com/community/investing/discussion/if-i-expect-to-pay-tuition-in-the-coming-years-should-i-keep-contributing-to-a-401k-or-open-a-529/01/1651966#M533 sum_student 2020-06-30T19:30:03Z Buying out real estate rental LLP https://ttlc.intuit.com/community/investing/discussion/buying-out-real-estate-rental-llp/01/1651220#M532 <P><SPAN>I have several rental properties with a partner we are members of an equally owned LLP and file our taxes as such, each receiving a K1 using turbo tax.</SPAN></P><P>I</P><P>am looking to buy him out this year. I would probably just buy all the shares of a LLP converting the LLP into a single member LLC.</P><P>&nbsp;</P><P>A couple of questions I have:<BR />1. When I do this will I be able to put these properties on to my schedule E like the other properties I already hold in my own name?</P><P><BR />2. How does the depreciation work on that? Do we both do depreciation recapture does just he do that? Is that put on our final year of business taxes (closing the business)? Do I carry the depreciation I had over to my schedule E? ... So many questions!&nbsp;</P><P>&nbsp;</P><P>3. How does the price that I pay to buy out the LLP work in regard to taxes? ( For example if I paid him $100,000 buyout the LLP)? Does it get added to cost basis of properties, do I split it across the 5 properties we own? Etc.</P><P>&nbsp;</P><P>Note we use multiple turbo tax products for business and personal/rental. I want to simplify tax time with this buyout for years going forward. e.g. one version of turbo tax, all properties on my schedule E.</P> Tue, 30 Jun 2020 02:16:12 GMT https://ttlc.intuit.com/community/investing/discussion/buying-out-real-estate-rental-llp/01/1651220#M532 ene777ene 2020-06-30T02:16:12Z 1099B https://ttlc.intuit.com/community/investing/discussion/1099b/01/1647192#M529 <P>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.&nbsp; I have not contributed to the account for over 20 years, it just kept building up on its own.&nbsp; I received a 1099-B which 851 shares were divided into long and short term investments. The remain 1415 shares were not categorized.&nbsp; For the 1415, the 1099-B states "Transactions for which basis is <STRONG>NOT reported to the IRS</STRONG> and for which short-term or long-term determination is unknown.&nbsp; You must determine short or long term gain\(loss) based on your records and report on Form 8949, Part II, with Box E checked, as appropriate. "</P><P>Questions:</P><P>1. How do I go back 30 years to check for gains/losses?</P><P>2.&nbsp; Do I really even need to check?&nbsp; Will I get into trouble by the IRS if I don't?</P> Fri, 26 Jun 2020 15:15:00 GMT https://ttlc.intuit.com/community/investing/discussion/1099b/01/1647192#M529 SteveS58 2020-06-26T15:15:00Z I issued a 1099 in 2019, but the house flip wasn't sold until 2020. How can I can forward that 1099 expense and add it to the basis of the house? https://ttlc.intuit.com/community/investing/discussion/i-issued-a-1099-in-2019-but-the-house-flip-wasn-t-sold-until-2020-how-can-i-can-forward-that-1099/01/1646425#M528 <P>We started a house flipping business last year. We bought a property and did improvements late 2019, and sold the house early 2020. Our contractor was paid Nov/Dec 2019.&nbsp;</P><P>&nbsp;</P><P>Since 2019 didn't generate any income for our business, can I carry forward this 1099 expense and add it to the basis of the house sold in 2020? Or do I consider it a loss for 2019, and carry that loss forward? Basically I'm not sure how to deduct the 1099 expense in 2019, and apply it to the profits of the house sold in 2020.</P><P>&nbsp;</P><P>Thank you! Hope that wasn't too confusing <span class="lia-unicode-emoji" title=":slightly_smiling_face:">🙂</span></P> Thu, 25 Jun 2020 19:07:33 GMT https://ttlc.intuit.com/community/investing/discussion/i-issued-a-1099-in-2019-but-the-house-flip-wasn-t-sold-until-2020-how-can-i-can-forward-that-1099/01/1646425#M528 REI-hiker 2020-06-25T19:07:33Z After Tax 401k Contributions/IRA Roll Over https://ttlc.intuit.com/community/investing/discussion/after-tax-401k-contributions-ira-roll-over/01/1646035#M526 <P>Hello,</P><P>I am trying to get a better understanding of After Tax 401K contribution and IRA Rollover.&nbsp; Let's say I invest an additional $10,000 annually into my 401K After Tax and roll this into an IRA.&nbsp; It's my understanding that I would roll over the contribution into a&nbsp;Roth IRA and the earnings into a traditional IRA.&nbsp; What are the short term and long term tax implications of this scenario?</P> Thu, 25 Jun 2020 13:08:27 GMT https://ttlc.intuit.com/community/investing/discussion/after-tax-401k-contributions-ira-roll-over/01/1646035#M526 TheBills 2020-06-25T13:08:27Z Tax and stock earnings https://ttlc.intuit.com/community/investing/discussion/tax-and-stock-earnings/01/1645142#M524 <P>If I was to make a profit from one stock with in less than a year but immediately put it into another, would I need to pay the taxes on the previous earnings?</P> Wed, 24 Jun 2020 18:03:46 GMT https://ttlc.intuit.com/community/investing/discussion/tax-and-stock-earnings/01/1645142#M524 BrandonLin1 2020-06-24T18:03:46Z What are advantages / disadvantages of putting your primary home in to LLC https://ttlc.intuit.com/community/investing/discussion/what-are-advantages-disadvantages-of-putting-your-primary-home-in-to-llc/01/1633076#M522 <P>WA state where homestead exemption is $125000.</P><P>&nbsp;</P><P>Now if someone owns a single family house worth $220000 and worried about potential lawsuit.</P><P>He is considering putting this home in to a LLC.</P><P>&nbsp;</P><P>Can someone explain what are the advantages and disadvantages? and answer my questions below?</P><P>&nbsp;</P><P>1. I found that it provides protection against liabilities but if this person does not have any other significant assets other than this house - there is not much advantage on this point correct?</P><P>&nbsp;</P><P>2. What about the tax benefits? He is not renting at the moment ...so are there any other tax advantages if he put in to LLC?</P><P>&nbsp;</P><P>3.if home is put in LLC ..does he loose homestead exemption?</P><P>&nbsp;</P><P>4. are there any tax advantages if he sells through LLC ?</P><P>also&nbsp; are there any tax advantages if he gifts this property to a family member ?</P><P>&nbsp;</P> Sun, 14 Jun 2020 07:49:37 GMT https://ttlc.intuit.com/community/investing/discussion/what-are-advantages-disadvantages-of-putting-your-primary-home-in-to-llc/01/1633076#M522 curious4913 2020-06-14T07:49:37Z 401K Match https://ttlc.intuit.com/community/investing/discussion/401k-match/01/1604130#M514 <P>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 account while the match is canceled. My questions are will this impact my tax refund at the end of the year and also asking if investing in strong stocks like Apple, Amazon and others like United Health that out perform my 401k would be a better idea? Should I even contribute to my 401k during this time?</P> Sun, 24 May 2020 00:47:03 GMT https://ttlc.intuit.com/community/investing/discussion/401k-match/01/1604130#M514 MustLoveSubies 2020-05-24T00:47:03Z Do co-owners on an investment, filing separate taxes, add dividends to their income each? https://ttlc.intuit.com/community/investing/discussion/do-co-owners-on-an-investment-filing-separate-taxes-add-dividends-to-their-income-each/01/1592702#M503 <P>Do co-owners on an investment, filing separate taxes, add dividends to their income each?</P> Sun, 17 May 2020 02:50:59 GMT https://ttlc.intuit.com/community/investing/discussion/do-co-owners-on-an-investment-filing-separate-taxes-add-dividends-to-their-income-each/01/1592702#M503 fajaso 2020-05-17T02:50:59Z Converting a Roth IRA back to a Traditional IRA (within the same tax year) https://ttlc.intuit.com/community/investing/discussion/converting-a-roth-ira-back-to-a-traditional-ira-within-the-same-tax-year/01/1571844#M499 <P>Does anyone know if this is possible?</P><P>&nbsp;</P><P>After entering the amount converted from a Traditional IRA to a Roth IRA, the Premium Tax Credit (PTC) went away.&nbsp; It now appears that I owe not only the tax on the converted amount (from traditional to Roth) I now need to repay the PTC.</P><P>&nbsp;</P><P>The only way I see to avoid having to repay the PTC is to dissolve the Roth conversion.</P><P>&nbsp;</P><P>Anyone have any knowledge of this tax situation?</P> Wed, 06 May 2020 23:14:41 GMT https://ttlc.intuit.com/community/investing/discussion/converting-a-roth-ira-back-to-a-traditional-ira-within-the-same-tax-year/01/1571844#M499 lisaannsala 2020-05-06T23:14:41Z Employee Stock Plan https://ttlc.intuit.com/community/investing/discussion/employee-stock-plan/01/1571259#M498 <P>When my E Trade account information was loaded to my return, all transaction activity (sale, capital gain, cost basis, etc) came across fine.&nbsp; However, Federal Tax was taken out at the time of the transaction activity which is NOT found anywhere on the E Trade account tax documents.&nbsp; I was able to obtain Employee Stock Plan Release Confirmation from my employer which DOES reflect Federal, Social Security, Medicare, taxes which were withheld/deducted&nbsp;</P><P>HOW DO I REFLECT THE FEDERAL TAX WITHHELD, AS THIS MAKES A BIG DIFFERENCE IN WHAT IS REFLECTED ON MY TOTAL RETURN TO PAY?</P><P>THANK YOU VERY MUCH!!</P> Wed, 06 May 2020 19:42:08 GMT https://ttlc.intuit.com/community/investing/discussion/employee-stock-plan/01/1571259#M498 djblackstone 2020-05-06T19:42:08Z stocks https://ttlc.intuit.com/community/investing/discussion/stocks/01/1559700#M493 Sat, 02 May 2020 18:59:31 GMT https://ttlc.intuit.com/community/investing/discussion/stocks/01/1559700#M493 graimo 2020-05-02T18:59:31Z Amending taxes to add 1099 from Robinhood https://ttlc.intuit.com/community/investing/discussion/amending-taxes-to-add-1099-from-robinhood/01/1552740#M487 <P>I filed my 2019 return before I received a 1099 from Robinhood for the stocks I owned that year. I am trying to find a way to amend my taxes to add them and so far I have not been able to figure this out. Would it be possible to claim them on next years taxes or do I need to add them to this years return?</P> Thu, 30 Apr 2020 09:42:07 GMT https://ttlc.intuit.com/community/investing/discussion/amending-taxes-to-add-1099-from-robinhood/01/1552740#M487 jkellerman97 2020-04-30T09:42:07Z reporting a bug - Code AH rather than Code Z on Box 20 of the Schedule K-1 has negative tax consequences. Do NOT use this method https://ttlc.intuit.com/community/investing/discussion/reporting-a-bug-code-ah-rather-than-code-z-on-box-20-of-the-schedule-k-1-has-negative-tax/01/1550550#M483 <P><STRONG>Using Code AH rather than Code Z on Box 20 of the Schedule K-1 has significant and negative tax consequences.&nbsp; TurboTax will not apply the deduction you should get, you MUST enter Code Z amounts under Code Z.&nbsp; Open this post for a solution !<BR /></STRONG></P> Thu, 07 May 2020 17:59:31 GMT https://ttlc.intuit.com/community/investing/discussion/reporting-a-bug-code-ah-rather-than-code-z-on-box-20-of-the-schedule-k-1-has-negative-tax/01/1550550#M483 johnshops 2020-05-07T17:59:31Z reporting flipping house profit https://ttlc.intuit.com/community/investing/discussion/reporting-flipping-house-profit/01/1542864#M482 <P>I invest my money with my friend flipping the property, at the end of the sale he gives me my profit and 1099 misc, in column 7. &nbsp; IS this correct?.&nbsp; since I did not work with him or for him, I only invested money. &nbsp; I am the only investor of the property and my friend take care of all the updating and selling work. &nbsp; If 1099misc is not correct, then what form he should have given me. &nbsp; I'm not a partner with him either.</P> Mon, 27 Apr 2020 16:14:50 GMT https://ttlc.intuit.com/community/investing/discussion/reporting-flipping-house-profit/01/1542864#M482 shafiq 2020-04-27T16:14:50Z flipping houses with my friend https://ttlc.intuit.com/community/investing/discussion/flipping-houses-with-my-friend/01/1542551#M481 <P>I give my money to my friend to buy a home, he&nbsp; buys the home in his name and then does all the work and resells it, we split the profit 50 50.&nbsp; I rollover my profit and give it back to my friend to buy another home.&nbsp; At the end of the year he gave me $30,000 1099 misc that I had rolled over this money, meaning I gave it back to him to buy another property.&nbsp; How do I report this 1099 misc that he gave me? thanks</P> Mon, 27 Apr 2020 15:04:46 GMT https://ttlc.intuit.com/community/investing/discussion/flipping-houses-with-my-friend/01/1542551#M481 shafiq 2020-04-27T15:04:46Z 2 1099B's for same withdrawal https://ttlc.intuit.com/community/investing/discussion/2-1099b-s-for-same-withdrawal/01/1535362#M476 <P>I was over 591/2 when I withdrew from 403(b) funds and rolled into an IRA at my credit union.&nbsp; Within 30 days I then withdrew from that IRA to purchase a second home.&nbsp; I did not pay tax on either.&nbsp;&nbsp;</P><P>Do I report both of these 1099B's?&nbsp; How should I report the purchase of the second home?&nbsp; Are there any expenses I can charge against this?</P> Sat, 25 Apr 2020 16:15:29 GMT https://ttlc.intuit.com/community/investing/discussion/2-1099b-s-for-same-withdrawal/01/1535362#M476 jjgerry 2020-04-25T16:15:29Z 1099B - Cost Basis Method = FIFO https://ttlc.intuit.com/community/investing/discussion/1099b-cost-basis-method-fifo/01/1532825#M475 <P>I sold some stock that was converted from a MetLife insurance policy years ago. - The 1099B says FIFO for Cost Basis Method.&nbsp; I did an import from Computershare and the field is still blank - how should I proceed?&nbsp; Any suggestions would be greatly appreciated.</P> Fri, 24 Apr 2020 21:31:03 GMT https://ttlc.intuit.com/community/investing/discussion/1099b-cost-basis-method-fifo/01/1532825#M475 2faithcooks 2020-04-24T21:31:03Z Estate https://ttlc.intuit.com/community/investing/discussion/estate/01/1522067#M473 Wed, 22 Apr 2020 08:28:46 GMT https://ttlc.intuit.com/community/investing/discussion/estate/01/1522067#M473 Blunt87 2020-04-22T08:28:46Z oid interest https://ttlc.intuit.com/community/investing/discussion/oid-interest/01/1511196#M471 <P>Does one net interest shortfall and oid interest to determine gain or loss from a non covered security?</P> Sun, 19 Apr 2020 17:25:42 GMT https://ttlc.intuit.com/community/investing/discussion/oid-interest/01/1511196#M471 elks 2020-04-19T17:25:42Z IRA dividends https://ttlc.intuit.com/community/investing/discussion/ira-dividends/01/1481176#M467 <P>If I am not taking distributions from my IRA, are dividends (1095-Div) taxable?</P><P>&nbsp;</P> Wed, 15 Apr 2020 18:46:13 GMT https://ttlc.intuit.com/community/investing/discussion/ira-dividends/01/1481176#M467 dcomella 2020-04-15T18:46:13Z UBTI in IRA | 990-T Filing https://ttlc.intuit.com/community/investing/discussion/ubti-in-ira-990-t-filing/01/1478543#M466 <P>My financial advisor suddenly sent me a 990-T form highlighting an owed UBTI in my IRA.</P><P>&nbsp;</P><P>Since when have IRA custodians had to file 990-T's on behalf of their clients? I was told the IRS only mandated it after 2018 but would like some guidance on exactly when this came to pass.&nbsp;</P><P>&nbsp;</P><P>Any help is appreciated!</P> Wed, 15 Apr 2020 16:41:06 GMT https://ttlc.intuit.com/community/investing/discussion/ubti-in-ira-990-t-filing/01/1478543#M466 amnerg73 2020-04-15T16:41:06Z What do i need to do with tax situation I plan to stop renting my townhome? https://ttlc.intuit.com/community/investing/discussion/what-do-i-need-to-do-with-tax-situation-i-plan-to-stop-renting-my-townhome/01/1474789#M465 <P>I have rented my townhome for 9 years, I plan to stop renting it in July and let my son move in. What do I need to report tax for 2020 or I can wait until I sell my townhome maybe 10 years later? Please advise!</P> Wed, 15 Apr 2020 12:59:58 GMT https://ttlc.intuit.com/community/investing/discussion/what-do-i-need-to-do-with-tax-situation-i-plan-to-stop-renting-my-townhome/01/1474789#M465 tchen2729 2020-04-15T12:59:58Z Tax on Capital Gains https://ttlc.intuit.com/community/investing/discussion/tax-on-capital-gains/01/1467903#M463 <P>What incomes are considered when determining the tax bracket for capital gains?&nbsp; Is Social Security and distributions from Annuities included?&nbsp; Are there any adjustment for seniors?</P> Tue, 14 Apr 2020 19:11:07 GMT https://ttlc.intuit.com/community/investing/discussion/tax-on-capital-gains/01/1467903#M463 jj1952 2020-04-14T19:11:07Z Investment for land https://ttlc.intuit.com/community/investing/discussion/investment-for-land/01/1455208#M459 <P>I recently purchased land as an investment..&nbsp; Can the cost of the land be used as an expense?</P> Mon, 13 Apr 2020 15:38:55 GMT https://ttlc.intuit.com/community/investing/discussion/investment-for-land/01/1455208#M459 csewell56 2020-04-13T15:38:55Z Traditional IRA Contribution https://ttlc.intuit.com/community/investing/discussion/traditional-ira-contribution/01/1438264#M457 <P>My income is high enough to enable me to invest $7000 in a Traditional IRA. When I add that to my taxes, the taxable income should decrease since the Traditional IRA is pre-tax. It didn't. I am confused.</P> Fri, 10 Apr 2020 20:16:29 GMT https://ttlc.intuit.com/community/investing/discussion/traditional-ira-contribution/01/1438264#M457 bkhillman 2020-04-10T20:16:29Z Opening stock account while on J1 visa https://ttlc.intuit.com/community/investing/discussion/opening-stock-account-while-on-j1-visa/01/1437053#M455 <P>Hi, I am a J1 physician Alien in the US since June 2016. I am trying to open a stock (brokerage) account. What form should I use: the W -8/W-8ben form or the W-9 form?</P><P>Thank you,</P><P>Jean</P> Fri, 10 Apr 2020 17:40:32 GMT https://ttlc.intuit.com/community/investing/discussion/opening-stock-account-while-on-j1-visa/01/1437053#M455 Jean85 2020-04-10T17:40:32Z SIPC Insurance https://ttlc.intuit.com/community/investing/discussion/sipc-insurance/01/1423089#M453 <P>For&nbsp;FDIC, I understand that the money could be lost&nbsp; (e.g.&nbsp; if a bank <U><STRONG>lends</STRONG> </U>out a large portion of loan and could not get the money back, then the bank could go bankruptcy ), that is why customers need FDIC insurance.</P><P>&nbsp;</P><P>But for stocks, how can stock be lost? When customer buys stock, and the stock just stays on customer's account. Brokerage firm does not <U><STRONG>lend</STRONG> </U>out the stock to other people, correct? Even if brokerage firm goes bankruptcy, the stock should still be there, customer can just transfer stock to another brokerage firm. Why we need SIPC insurance?</P><P>&nbsp;</P><P>The reason I am asking: is SIPC insurance really important? If yes, why? What if someone has multiple millions dollars of stock? Should he/she opens multiple brokerage accounts and keep less than $500k on each account (considering the SIPC insurance limit)?</P><P>&nbsp;</P><P>Thanks.</P> Wed, 08 Apr 2020 00:57:52 GMT https://ttlc.intuit.com/community/investing/discussion/sipc-insurance/01/1423089#M453 VAer 2020-04-08T00:57:52Z TD Ameritrade: FDIC Insured deposit account core not covered by SIPC https://ttlc.intuit.com/community/investing/discussion/td-ameritrade-fdic-insured-deposit-account-core-not-covered-by-sipc/01/1419125#M450 <P>I would like some education on Roth IRA. When I deposit money to my roth IRA, it was listed as cash, then second day it is listed as "FDIC Insured deposit account core not covered by SIPC".</P><P>&nbsp;</P><P>What does "FDIC Insured deposit account core not covered by SIPC" mean?</P><P>&nbsp;</P><P>Thanks.</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Cash alternative.JPG" style="width: 962px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/7225i9D686E1F195471FD/image-size/large?v=v2&amp;px=999" role="button" title="Cash alternative.JPG" alt="Cash alternative.JPG" /></span></P> Tue, 07 Apr 2020 12:33:59 GMT https://ttlc.intuit.com/community/investing/discussion/td-ameritrade-fdic-insured-deposit-account-core-not-covered-by-sipc/01/1419125#M450 VAer 2020-04-07T12:33:59Z Roth IRA Contribution question https://ttlc.intuit.com/community/investing/discussion/roth-ira-contribution-question/01/1415254#M448 <P><A href="https://investor.vanguard.com/ira/roth-ira-income-limits" target="_self">https://investor.vanguard.com/ira/roth-ira-income-limits</A>&nbsp;</P><P>&nbsp;</P><P>As the link indicates, when income goes above a certain limit, it is not allowed to contribute to roth IRA.</P><P>&nbsp;</P><P>The question is: how should people know his/her current year's income (if income varies throughout the year)?</P><P>&nbsp;</P><P>Example: John is single, his salary (W2) income is less than $124K, and he contributes $6000 roth IRA in July 2020. Then in September 2020, he sells his stock and makes more than $200k capital gain, and his 2020 income is way too high and he is not qualified to contribute any amount to roth IRA. What will happen to earlier contributed $6000 roth IRA?</P><P>&nbsp;</P><P>Thanks.</P> Mon, 06 Apr 2020 18:21:01 GMT https://ttlc.intuit.com/community/investing/discussion/roth-ira-contribution-question/01/1415254#M448 VAer 2020-04-06T18:21:01Z Form 8949 is not on turbotax premier. I use ETRADE https://ttlc.intuit.com/community/investing/discussion/form-8949-is-not-on-turbotax-premier-i-use-etrade/01/1414386#M447 Mon, 06 Apr 2020 15:57:44 GMT https://ttlc.intuit.com/community/investing/discussion/form-8949-is-not-on-turbotax-premier-i-use-etrade/01/1414386#M447 1grenada2 2020-04-06T15:57:44Z AT Risk or Not at Risk https://ttlc.intuit.com/community/investing/discussion/at-risk-or-not-at-risk/01/1401303#M442 <P>I invest in Energy Transfer Partners LP .&nbsp; Is my investment At Risk or Not At Risk for income tax purposes ?</P> Fri, 03 Apr 2020 16:32:44 GMT https://ttlc.intuit.com/community/investing/discussion/at-risk-or-not-at-risk/01/1401303#M442 WFB 2020-04-03T16:32:44Z analyzing debt repayment of a company https://ttlc.intuit.com/community/investing/discussion/analyzing-debt-repayment-of-a-company/01/1394374#M438 <P>hey guys,</P><P>I would like to know/understand whether its a good or bad sign when a director&nbsp;purchases a participation interest in the company's loan.</P><P>it means that the director is landing money to his company, so that says he has high confidence in the company's ability to repay the debt? or am I missing the point?</P><P>&nbsp;</P><P>thank you</P><P>&nbsp;</P><P>&nbsp;</P> Thu, 02 Apr 2020 00:03:18 GMT https://ttlc.intuit.com/community/investing/discussion/analyzing-debt-repayment-of-a-company/01/1394374#M438 LTI 2020-04-02T00:03:18Z Schedule D loss https://ttlc.intuit.com/community/investing/discussion/schedule-d-loss/01/1393889#M437 <P>I have a loss carry forward from 2018 on Section 1256 contracts.&nbsp; How/where do I input the loss for 2019?</P> Wed, 01 Apr 2020 22:33:06 GMT https://ttlc.intuit.com/community/investing/discussion/schedule-d-loss/01/1393889#M437 FredMertz 2020-04-01T22:33:06Z
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<channel>
<title>Investing topics</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/02/215
</link>
<description>Investing topics</description>
<pubDate>Sun, 16 May 2021 19:35:23 GMT</pubDate>
<dc:creator>215</dc:creator>
<dc:date>2021-05-16T19:35:23Z</dc:date>
<item>
<title>
Selling stocks and option within 25 days of teach other for a loss and a profit, does the profit become a wash sale ?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/selling-stocks-and-option-within-25-days-of-teach-other-for-a-loss-and-a-profit-does-the-profit/01/2279491#M941
</link>
<description>
<P>Hi all,</P><P>&nbsp;</P><P>So on&nbsp; December 10, 2019 I bought 10 stock ABC for 1,500 and December 20, 2019 I sold 10 of stock ABC for $500 with a wash sale loss of $1000, and then on December 25, 2019 I bought 1 option of stock ABC for $900. I sold the option for $950 on January 20, 2020, does that mean I need to include my wash sale in the profit/loss calculation for ABC option ? If yes, my profit of $50 will become loss since $50-1000 = -$950.&nbsp; If on January 25, 2020 I bought back 10 ABC stock for $750, and sold it on April 1, 2020 for $900, should I include the wash sale of -$950 from the profit so now my loss is $150-$950 = $800?</P>
</description>
<pubDate>Sat, 15 May 2021 20:31:57 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/selling-stocks-and-option-within-25-days-of-teach-other-for-a-loss-and-a-profit-does-the-profit/01/2279491#M941
</guid>
<dc:creator>amydeh2018</dc:creator>
<dc:date>2021-05-15T20:31:57Z</dc:date>
</item>
<item>
<title>
Sold a position in a stock and reinvested the entire proceeds back into the same stock on the same day. How is this reported
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/sold-a-position-in-a-stock-and-reinvested-the-entire-proceeds-back-into-the-same-stock-on-the-same/01/2273017#M937
</link>
<description/>
<pubDate>Thu, 13 May 2021 21:39:17 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/sold-a-position-in-a-stock-and-reinvested-the-entire-proceeds-back-into-the-same-stock-on-the-same/01/2273017#M937
</guid>
<dc:creator>Mac37</dc:creator>
<dc:date>2021-05-13T21:39:17Z</dc:date>
</item>
<item>
<title>IRA contribution deduction</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/ira-contribution-deduction/01/2271585#M935
</link>
<description>
<P>I was only eligible to contribute to my employer 401K for 5 weeks out of the year in 2020 but did not contribute because I was leaving the company. I make over $75K last year. Because I was eligible for 401K for 5 weeks of the year even though I did not contribute, does this make me ineligible to deduct my IRA contributions because of my income level for the entire year?</P>
</description>
<pubDate>Thu, 13 May 2021 15:12:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/ira-contribution-deduction/01/2271585#M935
</guid>
<dc:creator>cmmisu2nu</dc:creator>
<dc:date>2021-05-13T15:12:09Z</dc:date>
</item>
<item>
<title>Backdoor Roth - TurboTax CPA a thing?</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-turbotax-cpa-a-thing/01/2271268#M934
</link>
<description>
<P>I'm looking for a tax situation for 2021 that goes beyond my ability to take care of most of my finances on my own. If I sign up for TurboTax Live, is this the kind of thing I'm able to talk with a CPA on? I need to understand the tax implications of rolling over a traditional IRA into a 401k so I can contribute to a Roth for backdoor conversions...can all of that be done in the same year?</P>
</description>
<pubDate>Thu, 13 May 2021 13:11:28 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-turbotax-cpa-a-thing/01/2271268#M934
</guid>
<dc:creator>micahman33</dc:creator>
<dc:date>2021-05-13T13:11:28Z</dc:date>
</item>
<item>
<title>Currency Investment</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/currency-investment/01/2269509#M933
</link>
<description>
<P>I purchased Iraq Dinar currency over 10 years ago.&nbsp; It appears that the currency maybe revalued resulting in significant currency gains.&nbsp; Is this a capital gain and is there any tax strategies that I can use to avoid paying taxes?</P><P>&nbsp;</P><P>Thank you for your help.</P><P>&nbsp;</P><P>David Eberstein&nbsp;&nbsp;</P>
</description>
<pubDate>Wed, 12 May 2021 21:17:51 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/currency-investment/01/2269509#M933
</guid>
<dc:creator>davideberstein</dc:creator>
<dc:date>2021-05-12T21:17:51Z</dc:date>
</item>
<item>
<title>
I sold some Restricted Stock with Various acquisition dates. How can I determine the lots when my broker's forms don't detail them?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/i-sold-some-restricted-stock-with-various-acquisition-dates-how-can-i-determine-the-lots-when-my/01/2261264#M931
</link>
<description>
<P>I'm sure I'm not the only person who's run into this... I sold some Restricted Stock through Smith Barney (Stock Plan Connect) and they reported some of the lots has having a 'Various' acquisition date. I have double checked the individual trade confirmations as well as the consolidated year-end report, and nowhere does it break down the mapping of actual shares sold to the lots they originated from (by which I could work back the Vesting details from the Stock Plan Vesting and Transaction tables I downloaded).</P><P>&nbsp;</P><P>I feel like I'm stuck. I don't know that this will change my taxes up, down, or sideways, but TurboTax wants Vesting and Grant information for each lot that fueled these "various" date RS stock sales, and I can't provide it. Should I call Smith Barney to see if they can somehow clarify these line items for me?</P>
</description>
<pubDate>Mon, 10 May 2021 17:38:17 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/i-sold-some-restricted-stock-with-various-acquisition-dates-how-can-i-determine-the-lots-when-my/01/2261264#M931
</guid>
<dc:creator>JERisBRISK</dc:creator>
<dc:date>2021-05-10T17:38:17Z</dc:date>
</item>
<item>
<title>Investment Courses and Special Reports</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/investment-courses-and-special-reports/01/2257868#M930
</link>
<description>
<P>Are investment courses (such as Bonds or Artificial Intelligence Investments tax deductible?</P>
</description>
<pubDate>Sat, 08 May 2021 13:51:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/investment-courses-and-special-reports/01/2257868#M930
</guid>
<dc:creator>Teddy Eddy</dc:creator>
<dc:date>2021-05-08T13:51:50Z</dc:date>
</item>
<item>
<title>
Confused? : Still Haven't Received Capital Gains Loss
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/confused-still-haven-t-received-capital-gains-loss/01/2254731#M924
</link>
<description>
<P>So i filed my federal taxes and capital gains loss on turbo tax , my first year investing so i was wondering when am i supposed to get my capital loss return back?</P>
</description>
<pubDate>Thu, 06 May 2021 20:18:54 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/confused-still-haven-t-received-capital-gains-loss/01/2254731#M924
</guid>
<dc:creator>mike4156</dc:creator>
<dc:date>2021-05-06T20:18:54Z</dc:date>
</item>
<item>
<title>
2019 I had an investment loss ~1000.00 2020 turbo tax shows the loss in 2019 and I have no loss in 2020. When I do federal check,
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/2019-i-had-an-investment-loss-1000-00-2020-turbo-tax-shows-the-loss-in-2019-and-i-have-no-loss-in/01/2247168#M921
</link>
<description>
<P>I sold investments in 2019 and had $1000.00 loss based on 2019 1099-B forms.</P><P>&nbsp;</P><P>In 2020 I had no 1099-B.&nbsp;</P><P>&nbsp;</P><P>In 2020 TurboTax premier, I get an error when running the federal check.&nbsp; When I look at Investment income, it shows 2019 loss and zero for 2020.&nbsp; When I click on "Update", there is a line containing no financial institution name and values of zero for Gross Proceeds and Gain/Loss.&nbsp; I also see it shows "YES" under needs info.</P><P>When I edit the line item, it shows "Untitled" and no gross proceeds.</P><P>&nbsp;</P><P>Why did this occur and how should I resolve this.&nbsp; &nbsp;If I delete this entry then I am able to proceed.&nbsp; Is this the proper resolution ?</P>
</description>
<pubDate>Mon, 03 May 2021 16:07:37 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/2019-i-had-an-investment-loss-1000-00-2020-turbo-tax-shows-the-loss-in-2019-and-i-have-no-loss-in/01/2247168#M921
</guid>
<dc:creator>TripleD</dc:creator>
<dc:date>2021-05-03T16:07:37Z</dc:date>
</item>
<item>
<title>Preparing a Rental for Sale</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/preparing-a-rental-for-sale/01/2246170#M920
</link>
<description>
<P>I had to do a&nbsp; significant amount of work including items normally classified as expense such as painting to get a rental propery ready to sell.&nbsp; This was accomplished in 2020 and the property was sold in 2021. No tennants were in the property after these improvements.&nbsp; &nbsp;My income is greater than 150k so no passive expenses are deductable. What do I do with all of these expenses that I incurred in 2020?&nbsp; How can they benefit me against the sale.&nbsp;</P>
</description>
<pubDate>Mon, 03 May 2021 01:22:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/preparing-a-rental-for-sale/01/2246170#M920
</guid>
<dc:creator>Dorshire</dc:creator>
<dc:date>2021-05-03T01:22:02Z</dc:date>
</item>
<item>
<title>
Turbo Tax asking if I have done an excess contribution to Roth, but have already removed excess
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/turbo-tax-asking-if-i-have-done-an-excess-contribution-to-roth-but-have-already-removed-excess/01/2244414#M917
</link>
<description>
<P>Hi Team,</P><P>&nbsp;</P><P>Would appreciate any help on this question: I see a question about whether I have contributed an excess amount to a Roth IRA in 2020 or earlier. If I have done so, but already conducted a removal of excess and paid the additional fees, etc. then how should we address this in Turbo tax?&nbsp;</P><P>&nbsp;</P><P>I imagine the answer is "No" because it was effectively removed from the record by conducting a removal of excess. Thanks for you help!&nbsp;<LI-USER uid="88"></LI-USER>&nbsp;,&nbsp;<LI-USER uid="2624"></LI-USER>&nbsp; do either of you know?</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Sun, 02 May 2021 01:53:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/turbo-tax-asking-if-i-have-done-an-excess-contribution-to-roth-but-have-already-removed-excess/01/2244414#M917
</guid>
<dc:creator>aminhari</dc:creator>
<dc:date>2021-05-02T01:53:42Z</dc:date>
</item>
<item>
<title>
Is this considered a wash sale? I sold shares of a stock that I purchased at different times prior to the sale.
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/is-this-considered-a-wash-sale-i-sold-shares-of-a-stock-that-i-purchased-at-different-times-prior-to/01/2231305#M915
</link>
<description>
<P>On Jan 15, I bought 100 shares of a stock at $11.50 for a total of $1,150. &nbsp;</P><P>On Feb 25, I bought 100 more shares of the same stock at $10.50 for a total of $1,050.</P><P>On Mar 10, I sold all 200 of these shares at $9.50 for a total of $1,950, a loss of $250.</P><P>&nbsp;</P><P>Is the loss from the 100 shares bought in January considered a deductible tax loss since these shares were bought over 30 days prior to the sale? And therefore only the 100 shares bought in February would be a wash sale?</P>
</description>
<pubDate>Sun, 25 Apr 2021 22:32:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/is-this-considered-a-wash-sale-i-sold-shares-of-a-stock-that-i-purchased-at-different-times-prior-to/01/2231305#M915
</guid>
<dc:creator>wwwmixer</dc:creator>
<dc:date>2021-04-25T22:32:27Z</dc:date>
</item>
<item>
<title>IMRF contribution deduction</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/imrf-contribution-deduction/01/2230341#M914
</link>
<description>
<P>My wife is a school nurse (in IL) - she pays social security and also contributes to an IMRF.&nbsp; Is there a place in TurboTax to enter the IMRF contributions?</P>
</description>
<pubDate>Sun, 25 Apr 2021 16:26:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/imrf-contribution-deduction/01/2230341#M914
</guid>
<dc:creator>WR2020</dc:creator>
<dc:date>2021-04-25T16:26:16Z</dc:date>
</item>
<item>
<title>
How to report the "Payment in Lieu" Income from broker lending stock program
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/how-to-report-the-payment-in-lieu-income-from-broker-lending-stock-program/01/2227460#M913
</link>
<description>
<P>I received a Payment in Lieu for stocks that my broker loans out.&nbsp; This is not reported on the 1099's but rather included as a last line item Payment in Lieu with a footnote saying this information was not reported to the IRS.&nbsp; So how do I report this to the IRS?&nbsp; &nbsp;I don't think I know which stocks it is associated with.</P>
</description>
<pubDate>Fri, 23 Apr 2021 21:26:25 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/how-to-report-the-payment-in-lieu-income-from-broker-lending-stock-program/01/2227460#M913
</guid>
<dc:creator>jhoughten</dc:creator>
<dc:date>2021-04-23T21:26:25Z</dc:date>
</item>
<item>
<title>
Is there a Mortgage Interest Deduction Limit for Rental Properties?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/is-there-a-mortgage-interest-deduction-limit-for-rental-properties/01/2221433#M911
</link>
<description>
<P>I know that I can only deduct interest (or any expenses for that matter) up to my rental income, but is there a limit on the loan amount on which I can deduct my interest against?</P><P>&nbsp;</P><P>For example, I read that a couple MFJ can deduct interest on a mortgage of up to $750,000.</P><P>&nbsp;</P><P>Does that limit apply to investment/rental properties, such that if my primary mortgage and my investment mortgages are above $750,000, I cannot deduct interest on the portion that's above $750,000?</P>
</description>
<pubDate>Tue, 20 Apr 2021 22:42:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/is-there-a-mortgage-interest-deduction-limit-for-rental-properties/01/2221433#M911
</guid>
<dc:creator>j0ntaxID00</dc:creator>
<dc:date>2021-04-20T22:42:42Z</dc:date>
</item>
<item>
<title>
I disposed of all my units in a PTP and I don't think that Turbo tax has deducted the carry over passive losses. How can I check or how can I capture these losses?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/i-disposed-of-all-my-units-in-a-ptp-and-i-don-t-think-that-turbo-tax-has-deducted-the-carry-over/01/2181982#M889
</link>
<description/>
<pubDate>Thu, 08 Apr 2021 15:02:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/i-disposed-of-all-my-units-in-a-ptp-and-i-don-t-think-that-turbo-tax-has-deducted-the-carry-over/01/2181982#M889
</guid>
<dc:creator>Laurie20</dc:creator>
<dc:date>2021-04-08T15:02:31Z</dc:date>
</item>
<item>
<title>Roth IRA for 2020</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-for-2020/01/2176778#M885
</link>
<description>
<P>I have a sizeable amount that I can still contribute to my Roth for 2020.&nbsp; I know I have up until I file my taxes to do so, but am not sure how to attribute it to 2020.&nbsp; It looks like in Turbo Tax I just write it out as a simple number (what I have done already during the year plus what I do now).&nbsp;&nbsp;</P><P>&nbsp;</P><P>For when I make the purchase, is there something that needs to be called out so that it is not attributed to my 2021 Roth/tax information - or do I just jot it down in my records for 2021 tax filing.&nbsp; It is with Vanguard but I haven't contacted them yet.</P>
</description>
<pubDate>Tue, 06 Apr 2021 21:32:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-for-2020/01/2176778#M885
</guid>
<dc:creator>ChrisC3</dc:creator>
<dc:date>2021-04-06T21:32:46Z</dc:date>
</item>
<item>
<title>Got an error for missing cost basis</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/got-an-error-for-missing-cost-basis/01/2169246#M882
</link>
<description>
<P>I imported my 1099 forms from ML investment account in turbo tax. When I performed the check, it told me there are 2 errors, both are due to missing cost basis. But the problem is, the 1099 B , there is no cost basis for this transaction (see below snapshot for the 1099B, the cost basis for the second line is N/A. Just wondering, should this whole portion be imported to the 1099 B worksheet at all in turbo tax? Can anyone help? I can't find anything in my ML account. How can I fix this error?</P><DIV class="mceNonEditable lia-copypaste-placeholder">&nbsp;</DIV><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="ML_noCostbasis.jpg" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/20390iCAA5082CC5402262/image-size/large?v=v2&amp;px=999" role="button" title="ML_noCostbasis.jpg" alt="ML_noCostbasis.jpg" /></span></P><P>&nbsp;</P><P>Here is what I see in TT:</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="tt_error.JPG" style="width: 864px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/20391i96ED398465454BB2/image-size/large?v=v2&amp;px=999" role="button" title="tt_error.JPG" alt="tt_error.JPG" /></span></P>
</description>
<pubDate>Sun, 04 Apr 2021 17:57:07 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/got-an-error-for-missing-cost-basis/01/2169246#M882
</guid>
<dc:creator>fanchunrong</dc:creator>
<dc:date>2021-04-04T17:57:07Z</dc:date>
</item>
<item>
<title>
A tricky one: Ponzi capital loss reporting options and decisions
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/a-tricky-one-ponzi-capital-loss-reporting-options-and-decisions/01/2162569#M879
</link>
<description>
<P>We got taken in what ended up being declared a Ponzi scheme, although the financial aspects were settled via a court negotiated agreement (with, as usual, lawyers being the only ones who profited <span class="lia-unicode-emoji" title=":winking_face:">😉</span> ).</P><P>I will keep this generic, so it applies more broadly.</P><P>I see several important questions/decisions, none of which are simple:</P><P>1) Date of loss</P><P>2) Basis of investment</P><P>3) Amount of loss</P><P>4) Type of loss (ordinary bad-debt, S/T capital, L/T capital)</P><P>&nbsp;</P><P>To make it even more complex, there is a radical difference between:</P><P>a) The basic financial numbers reported on a final K-1</P><P>b) The basic same numbers, documented by the Court-Appointed Receiver (and agreed to by all parties.)</P><P>(These are so different, the K1 for example shows a basis much higher than what we invested, and final year business losses that are also over the top.)</P><P>&nbsp;</P><P>In my case, I'm a not-well-paid nonprofit worker. Not owing much fed tax no matter what right now... but sure would like to at least preserve some tax deduction value into the future if nothing else.</P><P>&nbsp;</P><P>MY QUESTION: Does my thinking below make sense, on the choices and ways to report this?</P><P>&nbsp;</P><P>1) DATE</P><P>- Normally, the loss date is the date they determined there was an issue.</P><P>- BUT: if there is a possibility of a return, I'm required to wait until that's settled -- ie a determination is made that a return is likely, even if not known how much or exactly when.</P><P>- In this case, the hammer came down for them back in 2016, but it was July 31, 2020 when I was told how much I lost, and was told "someday" we would likely receive "some money". Heh.</P><P>&nbsp;</P><P>DECISION: I plan to report this for 2020.</P><P>&nbsp;</P><P>2) BASIS</P><P>- This should be simple. We invested $nn,000. And that's what the Court says too.</P><P>- But the final K-1 says our basis is more than $10k higher.</P><P>&nbsp;</P><P>DECISION: My gut sense is to trust and Do Not Argue with the Court. Perhaps add an attachment explaining my decision.</P><P>(I've done many attachments before <span class="lia-unicode-emoji" title=":winking_face:">😉</span> )</P><P>&nbsp;</P><P>3) LOSS AMOUNT</P><P>- The court gave a loss amount</P><P>- But any $$ I get back reduces the loss</P><P>- I do NOT want to pay tax on the refund of my own money...</P><P>&nbsp;</P><P>DECISION: I plan to report a loss at or below a level sufficient to cover any refund</P><P>&nbsp;</P><P>4) TYPE OF LOSS</P><P>a) The IRS allows a Ponzi Safe Harbor choice. That seems nice until one looks at the details in context.</P><P>---- the loss with this method becomes a Bad Debt loss, reportable as an itemized deduction</P><P>---- With the new rules about itemizing and std deduction, I'd have to lose a boatload of bucks for this to make ANY difference at all</P><P>--- AND, any "excess" just blows away in the wind.</P><P>&nbsp;</P><P>b) I see IRS (section 166) rules saying that an investment loss of this type, once the date is known, should be reported as a short term capital loss.</P><P>--- I like this for my situation. I do get capital gains sometimes...and AFAIK this would carry forward until used up.</P><P>&nbsp;</P><P>DECISION: I plan to report this as a S/T capital loss, using overrides as needed in turbotax to get there. (QUESTION: is there a btter way to do this?)</P><P>&nbsp;</P><P>FINALLY:</P><P>- I plan to basically ignore the K1 I received (months after the Court accounting) and trust the Court numbers</P><P>- Oh, the K1 is also a Final K1, and for 2019. I'd have to amend last year's to report that way... and it would have zero financial impact. I.e., would not save me a dime.</P><P>- I assume I need to write an attachment for my return to explain what I did with that and why.</P><P>(Honestly the K1 appears to be from outer space, not matching anything else ever seen.)</P><P>&nbsp;</P><P>THOUGHTS? I hope this makes sense... and even may be helpful to someone else.</P>
</description>
<pubDate>Fri, 02 Apr 2021 04:14:34 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/a-tricky-one-ponzi-capital-loss-reporting-options-and-decisions/01/2162569#M879
</guid>
<dc:creator>MrPeteH</dc:creator>
<dc:date>2021-04-02T04:14:34Z</dc:date>
</item>
<item>
<title>Schedule K-1 (Form 1065)</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/schedule-k-1-form-1065/01/2161403#M878
</link>
<description>
<P>I am 86 years old. I sold an investment in a Schedule K-1 (Form 1065) at a small, long term gain.&nbsp; This investment was in&nbsp; an IRA.&nbsp; Is this gain exempt from taxes because it was part of an IRA?</P>
</description>
<pubDate>Thu, 01 Apr 2021 20:57:19 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/schedule-k-1-form-1065/01/2161403#M878
</guid>
<dc:creator>WeimarJr</dc:creator>
<dc:date>2021-04-01T20:57:19Z</dc:date>
</item>
<item>
<title>Inherited house turned rental</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/inherited-house-turned-rental/01/2126838#M868
</link>
<description>
<P>My sister and I inherited my parents' paid-off house in Wilmington, NC, with no appraisal at time of death in 2017.&nbsp; Sister was executor and maintains that the estate owned the home until it left probate in June 2019, from which time we co-owned it.&nbsp; I worked on the house February and March 2020, and purchased her share of the home in March 2020 with a mortgage (my second -- I already have a primary mortgage) to acquire it as investment property (not primary residence).&nbsp; My sister moved out of the home at that time (she had been living there rent-free).&nbsp; Renters moved in the end of May 2020.&nbsp; I have already paid for three appraisals on the house (one ordered by my sister as executor in February 2019, one in fall 2019 to qualify for mortgage, and a third in February to re-certify the results before closing). Do I have to pay for another, retroactive appraisal to get Fair Market Value on date of death? Or can I use the alternate valuation date that my sister as executor used? Do I list the mortgage interest and points as a second mortgage under deductions &amp; credits, or under rental expenses? Also, do I need to issue 1099-NEC's for painting to get house ready for rent, etc.?&nbsp; House would have been ready to rent in March if the pandemic had not hit, as I had to return home due to lockdowns and could not work on the house again until May. I probably lost rental income due to that, and had to pay mortgage payments out-of-pocket during that time.&nbsp; Is there a tax break for that lost income potential, or do I have to list every day in 2020 until the renters moved in as personal-use days? Thank you!!!</P>
</description>
<pubDate>Tue, 23 Mar 2021 20:28:58 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/inherited-house-turned-rental/01/2126838#M868
</guid>
<dc:creator>Laurel2B</dc:creator>
<dc:date>2021-03-23T20:28:58Z</dc:date>
</item>
<item>
<title>RETIREMENT</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/retirement/01/2111492#M864
</link>
<description>
<P>Three questions.&nbsp;</P><P>&nbsp;</P><P>If I contributed to a Roth can I deduct that amount?</P><P>I received a form 1099-R. I rolled the money over into a retirement account. &nbsp;Do I need to report it anywhere in my taxes?&nbsp;</P><P>I entered my employee retirement account contributions from box 12b when first started entering information from my W2. Do I reenter the amount in retirement section?</P>
</description>
<pubDate>Sat, 20 Mar 2021 00:16:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/retirement/01/2111492#M864
</guid>
<dc:creator>DAVID189</dc:creator>
<dc:date>2021-03-20T00:16:04Z</dc:date>
</item>
<item>
<title>
Do I need to report/amend if I sold my robinhood-stock 5 dollars?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/do-i-need-to-report-amend-if-i-sold-my-robinhood-stock-5-dollars/01/2108109#M859
</link>
<description>
<P>Robinhood sent me this information for last year.</P><P>1099-Div = $0.00</P><P>1099-Misc = $0.00</P><P>1099-B = $0.00</P><P>And the form 8949? says as shown.</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Untitled.png" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/19127i919A03BAEDA21C84/image-size/large?v=v2&amp;px=999" role="button" title="Untitled.png" alt="Untitled.png" /></span></P><P>I already filed my 2020 tax, do I need to submit amending forms 1040x?</P><P>&nbsp;</P>
</description>
<pubDate>Fri, 19 Mar 2021 05:35:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/do-i-need-to-report-amend-if-i-sold-my-robinhood-stock-5-dollars/01/2108109#M859
</guid>
<dc:creator>Duon</dc:creator>
<dc:date>2021-03-19T05:35:55Z</dc:date>
</item>
<item>
<title>stock in a foreign corporation</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stock-in-a-foreign-corporation/01/2086095#M849
</link>
<description/>
<pubDate>Mon, 15 Mar 2021 19:47:40 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stock-in-a-foreign-corporation/01/2086095#M849
</guid>
<dc:creator>Amccrystl</dc:creator>
<dc:date>2021-03-15T19:47:40Z</dc:date>
</item>
<item>
<title>contributing to Roth or IRA</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/contributing-to-roth-or-ira/01/2075639#M846
</link>
<description>
<P>Between my wife and I, we have a MAGI of a little more than $145k, she has a 401 via work and contributed 6% in 2020 and now upped to 10% for 2021.&nbsp; Turbo Tax tells me we don't get a "deduction" because we are over the MAGI limit for her contributions. &nbsp;</P><P>&nbsp;</P><P>We also have a ROTH but not via our work.&nbsp; I currently owe Uncle Sam over $4k, If I add $7k to our Roth before April 15th, it reduces our amount owed to $2800.&nbsp;</P><P>&nbsp;</P><P>Is this the best plan to reduce my amount owed for 2020 taxes or not.&nbsp;&nbsp; And what is the best plan for 2021, up my wife's deductions to her 401?&nbsp; Or something else.</P><P>&nbsp;</P><P>Thanks for your help.</P>
</description>
<pubDate>Sat, 13 Mar 2021 23:52:18 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/contributing-to-roth-or-ira/01/2075639#M846
</guid>
<dc:creator>BDE16602</dc:creator>
<dc:date>2021-03-13T23:52:18Z</dc:date>
</item>
<item>
<title>1099-B entry vs. form 8949 and schedule D</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099-b-entry-vs-form-8949-and-schedule-d/01/2066090#M843
</link>
<description>
<P>I normally have a small number of 1099B entries, however this year I had a situation that resulted in one of my 1099B statements having approximately 250 entries, mostly a few cents, but none the less 250 entries. I painstakingly entered them all.&nbsp; When I printed my TT return to view, TT entered the TOTALS on lines "1a" and "8a" of Schedule D, respectively for Short Term &amp; Long Term gains/losses which were reported to IRS by Broker.&nbsp; There was only 2 of those 250 entries that were "E" (Long term-not reported to IRS) and those were entered on form 8949 by TT.&nbsp; I am confused as to why TT did that, but my question is: Do I need to snail mail a copy of my brokerage statement to the IRS due to the fact TT listed all those entries as TOTALS on line 1a &amp; 8a on my Schedule D, even though I entered all individually, thinking they would appear on Form 8949?&nbsp; I am not talking huge numbers (1a=$8.00 and 8a=$196).&nbsp; Also, should TT alert me if it is necessary to do so, when I efile my return?</P>
</description>
<pubDate>Fri, 12 Mar 2021 02:32:57 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099-b-entry-vs-form-8949-and-schedule-d/01/2066090#M843
</guid>
<dc:creator>drivemetodrink</dc:creator>
<dc:date>2021-03-12T02:32:57Z</dc:date>
</item>
<item>
<title>
Wash sale: How do I deal with "1456 days added to holding period."
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/wash-sale-how-do-i-deal-with-1456-days-added-to-holding-period/01/2065029#M842
</link>
<description>
<P>I have several Long Term transactions on form 8949, Part III, Box D checked. A few transactions include "Wash sale: 1456 days added to holding period." What do I do with this info?</P>
</description>
<pubDate>Thu, 11 Mar 2021 22:55:49 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/wash-sale-how-do-i-deal-with-1456-days-added-to-holding-period/01/2065029#M842
</guid>
<dc:creator>ebarwick</dc:creator>
<dc:date>2021-03-11T22:55:49Z</dc:date>
</item>
<item>
<title>
Where do I enter bond premium non treasury obligations noncovered lots - Business Turbo Tax
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/where-do-i-enter-bond-premium-non-treasury-obligations-noncovered-lots-business-turbo-tax/01/2042857#M835
</link>
<description><P>Thanks!</P></description>
<pubDate>Sun, 07 Mar 2021 22:24:49 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/where-do-i-enter-bond-premium-non-treasury-obligations-noncovered-lots-business-turbo-tax/01/2042857#M835
</guid>
<dc:creator>JD20201</dc:creator>
<dc:date>2021-03-07T22:24:49Z</dc:date>
</item>
<item>
<title>IRA Dividends & Capital Gains Reinvested</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/ira-dividends-capital-gains-reinvested/01/2037863#M832
</link>
<description>
<P>We did not receive a 1099-DIV from PFS Investments. We called and they only gave us the ending value as of 12/31/20. How do I report this?</P>
</description>
<pubDate>Sat, 06 Mar 2021 20:57:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/ira-dividends-capital-gains-reinvested/01/2037863#M832
</guid>
<dc:creator>BCholt12</dc:creator>
<dc:date>2021-03-06T20:57:02Z</dc:date>
</item>
<item>
<title>
Stepped up basis of stock following death of Joint Owner
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stepped-up-basis-of-stock-following-death-of-joint-owner/01/2025044#M825
</link>
<description>
<P>I own several publicly traded stocks that my parents bought for me when I was a child.&nbsp; Originally, they were owned via a UGM account.&nbsp; But when I became an adult, the stock was transferred to a joint account WROS owned jointly by me and my mother (my father died many years ago).&nbsp; My mother died in 2020.&nbsp; Question:&nbsp; Do I get a stepped up basis in 100% of the stock since 100% of the purchase price was paid by my parents?&nbsp;&nbsp;</P><P>&nbsp;</P><P>Thanks!</P>
</description>
<pubDate>Thu, 04 Mar 2021 03:39:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stepped-up-basis-of-stock-following-death-of-joint-owner/01/2025044#M825
</guid>
<dc:creator>dms111</dc:creator>
<dc:date>2021-03-04T03:39:42Z</dc:date>
</item>
<item>
<title>
Form K1 Estates and Trusts holding up my taxes, TT says it's not ready but it's right there on the IRS website
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/form-k1-estates-and-trusts-holding-up-my-taxes-tt-says-it-s-not-ready-but-it-s-right-there-on-the/01/1996610#M804
</link>
<description>
<P>So frustrated.&nbsp; I cannot file my taxes because TT says the form is not done and "check back later".&nbsp; Our income dropped 50% in the last year after the pandemic started but was too high to receive a stimulus because of 2019 income.&nbsp;&nbsp; We are eligible this year and for any further stimulus if we can JUST get these taxes done.&nbsp;</P><P>Can anyone help me understand when this form will make it into Turbo Tax ?<BR /><BR /><A href="https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf" target="_blank">https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf</A></P><P>&nbsp;</P>
</description>
<pubDate>Sat, 27 Feb 2021 02:50:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/form-k1-estates-and-trusts-holding-up-my-taxes-tt-says-it-s-not-ready-but-it-s-right-there-on-the/01/1996610#M804
</guid>
<dc:creator>Zarnon</dc:creator>
<dc:date>2021-02-27T02:50:03Z</dc:date>
</item>
<item>
<title>Dividing 1099-B Earnings</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/dividing-1099-b-earnings/01/1990962#M801
</link>
<description>
<P>How you divide 1009B earnings with spouse like you can on a 1099-INT.&nbsp; Turbo taxes is apply all the income to me so I can not qualify for an IRA deduction.&nbsp; The 1099-B earnings are from a joint&nbsp;brokerage account.</P>
</description>
<pubDate>Fri, 26 Feb 2021 00:09:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/dividing-1099-b-earnings/01/1990962#M801
</guid>
<dc:creator>meetma</dc:creator>
<dc:date>2021-02-26T00:09:52Z</dc:date>
</item>
<item>
<title>where do I start on a 40 page composite?,</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/where-do-i-start-on-a-40-page-composite/01/1987889#M800
</link>
<description/>
<pubDate>Thu, 25 Feb 2021 16:40:28 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/where-do-i-start-on-a-40-page-composite/01/1987889#M800
</guid>
<dc:creator>Jamc3</dc:creator>
<dc:date>2021-02-25T16:40:28Z</dc:date>
</item>
<item>
<title>
Tax for sold mutual funds and stocks in non-retirement accounts.
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/tax-for-sold-mutual-funds-and-stocks-in-non-retirement-accounts/01/1978594#M792
</link>
<description>
<P>Tax-residency --&gt; Resident Alien<BR />Immigration status --&gt; F1 - OPT</P><P>&nbsp;</P><P>Assume that I sold some mutual funds and stocks, however never withdrew money out of the brokerage account. Do I still need to pay taxes on the gain (note that I have not withdrawn the gain yet.) ? I re-invested the money sold and earned more on them.<BR />Also, my broker has not sent me any 1099 form for these transactions. Please advice.</P>
</description>
<pubDate>Wed, 24 Feb 2021 00:45:08 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/tax-for-sold-mutual-funds-and-stocks-in-non-retirement-accounts/01/1978594#M792
</guid>
<dc:creator>noviceattax</dc:creator>
<dc:date>2021-02-24T00:45:08Z</dc:date>
</item>
<item>
<title>Allocating investments from joint account</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/allocating-investments-from-joint-account/01/1972819#M788
</link>
<description>
<P>My son and I opened a joint account to do some investments.&nbsp; The account has both names as owners, but the broker used my social security number on the 1099.&nbsp; For 2020, we had a capital loss.&nbsp; I imported the information from the broker to my tax return and would like to record an entry into Turbotax to allocate a portion of the loss to my son.&nbsp; Can someone tell me how to do that within the desktop Turbotax allocation?</P>
</description>
<pubDate>Tue, 23 Feb 2021 00:44:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/allocating-investments-from-joint-account/01/1972819#M788
</guid>
<dc:creator>adrooney</dc:creator>
<dc:date>2021-02-23T00:44:16Z</dc:date>
</item>
<item>
<title>My Form 1099-R is incorrect</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/my-form-1099-r-is-incorrect/01/1958345#M771
</link>
<description>
<P>I sold 200 shares of AAPL stock in my SEP / IRA account [number removed] for $56,431 and I gifted 100 shares of AAPL to each of my three children.&nbsp; My Form 1099-R shows a Gross Distribution / Taxable Amount of $92,899.25.&nbsp; That amount is incorrect because the 300 share of AAPL were gifts.&nbsp; Meanwhile, an agent of TD Ameritrade informed me that they have only one Distribution code (7) so they cannot discriminate between taxable distributions and non-taxable gifts.&nbsp; Furthermore, the IRS uses the amount designated by TD Ameritrade's 2020 Form 1099-R to compute my 2020 tax.&nbsp; When I tried to contact my local IRS office to make an appointment to discuss the problem, I was shuffled back and forth by their bots and I could not make an appointment.&nbsp; Logically, that means I will have to go to the IRS Office, take a number, wait to be served, told that I need to make an appointment. make the appointment for another day, then go home and wait until that day comes to pass.&nbsp; I say "Logically" because that happened to me in the past.</P> <P>&nbsp;</P> <P>What to do?&nbsp; Inquiring mind wants to know.</P> <P>&nbsp;</P> <P>David S</P>
</description>
<pubDate>Sat, 20 Feb 2021 16:01:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/my-form-1099-r-is-incorrect/01/1958345#M771
</guid>
<dc:creator>dubina666</dc:creator>
<dc:date>2021-02-20T16:01:09Z</dc:date>
</item>
<item>
<title>ROYALTY</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/royalty/01/1957845#M770
</link>
<description>
<P>I purchased land as an investment. I received coal royalty. Can I deduct the cost of the land?</P>
</description>
<pubDate>Sat, 20 Feb 2021 13:24:33 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/royalty/01/1957845#M770
</guid>
<dc:creator>stcanada</dc:creator>
<dc:date>2021-02-20T13:24:33Z</dc:date>
</item>
<item>
<title>
Paid cash as part of closing cost on a rental home. Can that be expensed?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/paid-cash-as-part-of-closing-cost-on-a-rental-home-can-that-be-expensed/01/1956182#M769
</link>
<description>
<P>I paid cash to buy a home that became a rental property; some of it obtained from mortgaging my own house, and some from cash on hand.</P><P>Can the cash on hand be considered a home rental expense?&nbsp; (Expenses you paid for the seller?)</P>
</description>
<pubDate>Fri, 19 Feb 2021 23:22:58 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/paid-cash-as-part-of-closing-cost-on-a-rental-home-can-that-be-expensed/01/1956182#M769
</guid>
<dc:creator>Somebody42</dc:creator>
<dc:date>2021-02-19T23:22:58Z</dc:date>
</item>
<item>
<title>1099 and multiple owners</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099-and-multiple-owners/01/1941978#M760
</link>
<description>
<P>i own rental property with another person but the 1099 for rents came in my name only how do i handle this?</P>
</description>
<pubDate>Wed, 17 Feb 2021 20:06:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099-and-multiple-owners/01/1941978#M760
</guid>
<dc:creator>debraf</dc:creator>
<dc:date>2021-02-17T20:06:20Z</dc:date>
</item>
<item>
<title>Cost basis for inherited stock</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-inherited-stock/01/1892777#M742
</link>
<description>
<P>My aunt died on 2/22/2018.&nbsp; Inherited stock from her was put into my account on June 27, 2018.&nbsp; I sold the stock in 2020.&nbsp; In looking at the 1099-B i noticed that some of the stock i inherited was acquired in May of 2018 i.e. between the date of my aunt's death and the date i came into possession of the stock (i am assuming her money manager was continuing to manage her account and that is how the May 2018 purchase was made).&nbsp; So what date do i use as a cost basis for the stock acquired after my aunt's death but before i was in possession of it?</P>
</description>
<pubDate>Mon, 08 Feb 2021 22:30:08 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-inherited-stock/01/1892777#M742
</guid>
<dc:creator>ubernautilus</dc:creator>
<dc:date>2021-02-08T22:30:08Z</dc:date>
</item>
<item>
<title>Deduction HOA fees</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/deduction-hoa-fees/01/1911492#M727
</link>
<description>
<P>Can I deduct the HOA fees I paid each year now that the property has been sold?</P>
</description>
<pubDate>Fri, 12 Feb 2021 18:43:59 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/deduction-hoa-fees/01/1911492#M727
</guid>
<dc:creator>retiredff-selpilot</dc:creator>
<dc:date>2021-02-12T18:43:59Z</dc:date>
</item>
<item>
<title>Selling Stocks</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/selling-stocks/01/1891384#M720
</link>
<description>
<P>I sold 4 stocks last year. When I tried to enter them into Turbo Tax , 3 worked but one did not. The cost basis did not subtract from the proceeds.</P>
</description>
<pubDate>Mon, 08 Feb 2021 19:20:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/selling-stocks/01/1891384#M720
</guid>
<dc:creator>greek1207</dc:creator>
<dc:date>2021-02-08T19:20:20Z</dc:date>
</item>
<item>
<title>2019 Filing - K-1, Box 20</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/2019-filing-k-1-box-20/01/1878117#M713
</link>
<description>
<P>Why does Turbotax combine the amounts entered from K-1 Box 20 A and B onto my Form 4952 as Investment Interest Expense?&nbsp; Shouldn't the amount on Form 4952 just be the Code B amount?</P>
</description>
<pubDate>Fri, 05 Feb 2021 18:17:40 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/2019-filing-k-1-box-20/01/1878117#M713
</guid>
<dc:creator>JerryBG</dc:creator>
<dc:date>2021-02-05T18:17:40Z</dc:date>
</item>
<item>
<title>ISO Purchases Shares Limitation is 99,999</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/iso-purchases-shares-limitation-is-99-999/01/1877485#M712
</link>
<description>
<P>When entering&nbsp; 3921 form information for ISO Stock Purchases in TurboTax Premier there is a limitation of 99,999 shares (Box 5).&nbsp; What do you do when you've purchased&nbsp; more shares and is there a way around this arbitrary limitation?</P>
</description>
<pubDate>Fri, 05 Feb 2021 15:52:28 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/iso-purchases-shares-limitation-is-99-999/01/1877485#M712
</guid>
<dc:creator>Stevewill1</dc:creator>
<dc:date>2021-02-05T15:52:28Z</dc:date>
</item>
<item>
<title>
1099 B Wash Sale Loss Disallowed GLITCH as of 2/4/2021
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099-b-wash-sale-loss-disallowed-glitch-as-of-2-4-2021/01/1876270#M709
</link>
<description>
<P>Currently there is a glitch when filing your taxes for the disallowed wash sale loss, you have to round all the numbers for each stock you sold to the nearest dollar Example: 1285.78 rounds too 1286 , do this for all the numbers in each of your stock sales this year or wait for a update, I spoke with support for 2 hours while doing this work around on the glitch. this is a easy fix or wait for the update.</P>
</description>
<pubDate>Fri, 05 Feb 2021 02:08:48 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099-b-wash-sale-loss-disallowed-glitch-as-of-2-4-2021/01/1876270#M709
</guid>
<dc:creator>mike4156</dc:creator>
<dc:date>2021-02-05T02:08:48Z</dc:date>
</item>
<item>
<title>roth ira</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/roth-ira/01/1852164#M702
</link>
<description>
<P>I didn't work this year but my wife did.&nbsp; We found out that you can still place money in both IRAs.&nbsp; If it will be $1000 can we place the money in my IRA even though she is the one who earned money?</P>
</description>
<pubDate>Sun, 31 Jan 2021 22:12:05 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/roth-ira/01/1852164#M702
</guid>
<dc:creator>Zinnia_15</dc:creator>
<dc:date>2021-01-31T22:12:05Z</dc:date>
</item>
<item>
<title>Determine long-term capital gains on Robinhood</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/determine-long-term-capital-gains-on-robinhood/01/1817300#M690
</link>
<description>
<P>Hi,</P><P>&nbsp;</P><P>I'm currently investing on stocks through Robinhood. I'm thinking to invest long-term to reduce taxes. I'm trying to keep an asset for a little more than a year and sell it.&nbsp; Because I'm buying stocks from a company multiple times throughout the year, so some shares are new, and some are older.&nbsp;How do I determine whether an asset,&nbsp; or a number of shares are long-term or not?</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Fri, 22 Jan 2021 17:47:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/determine-long-term-capital-gains-on-robinhood/01/1817300#M690
</guid>
<dc:creator>ndnguyen</dc:creator>
<dc:date>2021-01-22T17:47:31Z</dc:date>
</item>
<item>
<title>
I'm wondering why I spent extra on TurboTax Premier, when apparently TurboTax Online has features Premier does not?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/i-m-wondering-why-i-spent-extra-on-turbotax-premier-when-apparently-turbotax-online-has-features/01/1823723#M663
</link>
<description>
<P>I purchased Premier because it is specifically promoted as having enhanced features for investments. Yet, now I find out that while one can input cryptocurrency sales as capital gains taxable events in the online version, there is no such option in premier. Setting aside the minor quibble that cryptocurrency is treated as property rather than as an investment per se, it would seem I've been shortchanged in available features. For that matter, you enter crypto in the online version&nbsp; apparently as follows:</P><P>&nbsp;</P><OL class=""><LI>Select<SPAN>&nbsp;</SPAN><STRONG>Federal</STRONG><SPAN>&nbsp;</SPAN>from the left menu, and&nbsp;<STRONG>Wages &amp; Income</STRONG><SPAN>&nbsp;</SPAN>from the menu near the top.</LI><LI>Scroll down and select<SPAN>&nbsp;</SPAN><STRONG>Show more</STRONG><SPAN>&nbsp;</SPAN>next to<SPAN>&nbsp;</SPAN><EM>Investment Income</EM>.</LI><LI>Select<SPAN>&nbsp;</SPAN><STRONG>Start</STRONG><SPAN>&nbsp;</SPAN>or<SPAN>&nbsp;</SPAN><STRONG>Revisit</STRONG><SPAN>&nbsp;</SPAN>next to<SPAN>&nbsp;</SPAN><EM>Cryptocurrency</EM>.</LI></OL><P>So quite clearly, the online version handles it under Investment Income - precisely what Turbotax Premier is supposed to be ideal for.</P><P>&nbsp;</P><P>This is, to put it mildly, frustrating.</P><P>&nbsp;</P>
</description>
<pubDate>Sun, 24 Jan 2021 22:50:48 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/i-m-wondering-why-i-spent-extra-on-turbotax-premier-when-apparently-turbotax-online-has-features/01/1823723#M663
</guid>
<dc:creator>anastrophe</dc:creator>
<dc:date>2021-01-24T22:50:48Z</dc:date>
</item>
<item>
<title>Cost Basis for UTMA Withdrawal</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-utma-withdrawal/01/1830872#M652
</link>
<description>
<P>I want to sell some of the stocks in my UTMA that is 20+ years old. I just found out I have this account. What cost basis method should I be using if I dont plan to cash out the entire account?&nbsp;</P>
</description>
<pubDate>Tue, 26 Jan 2021 21:46:13 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-for-utma-withdrawal/01/1830872#M652
</guid>
<dc:creator>Ilovedogs23</dc:creator>
<dc:date>2021-01-26T21:46:13Z</dc:date>
</item>
<item>
<title>Capital Gains</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/capital-gains/01/1761336#M648
</link>
<description>
<P>I had Long term capital gain in 2019 as stated in the online entries.&nbsp; But, my TurboTax filed return indicated that no Schedule D was required.&nbsp; My long term Capital gain was entered as an entry to the tax return.&nbsp; Then, how did TurboTax know the Capital Gain is Long Term and did my Tax calculate my tax for 2019?&nbsp; I do hope TurboTax did not treat the long term capital gain as ordinary income in my 2019 tax return.</P>
</description>
<pubDate>Sat, 26 Dec 2020 07:01:26 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/capital-gains/01/1761336#M648
</guid>
<dc:creator>huilam1942</dc:creator>
<dc:date>2020-12-26T07:01:26Z</dc:date>
</item>
<item>
<title>Cryptocurrency mining company</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-mining-company/01/1769444#M646
</link>
<description>
<P>How is the yes/no cryptocurrency question answered when a person transacts shares in a non pass through C corporation that mines cryptocurrency?</P><P>example: nasdaq listed RIOT&nbsp;</P>
</description>
<pubDate>Sat, 02 Jan 2021 18:19:48 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-mining-company/01/1769444#M646
</guid>
<dc:creator>the penguin</dc:creator>
<dc:date>2021-01-02T18:19:48Z</dc:date>
</item>
<item>
<title>stock transactions</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stock-transactions/01/1769862#M643
</link>
<description>
<P>how many stock transactions can i enter in turbo standard version</P>
</description>
<pubDate>Sat, 02 Jan 2021 23:11:11 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stock-transactions/01/1769862#M643
</guid>
<dc:creator>dharamchandna</dc:creator>
<dc:date>2021-01-02T23:11:11Z</dc:date>
</item>
<item>
<title>Maximum IRA contribution</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/maximum-ira-contribution/01/1740956#M609
</link>
<description>
<P>My daughter has a 401K at work. She also contributes to an IRA at a local bank. Is there a total amount that can be contributed to both separately, or both?&nbsp; Thx</P>
</description>
<pubDate>Sat, 07 Nov 2020 06:01:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/maximum-ira-contribution/01/1740956#M609
</guid>
<dc:creator>cgmartin</dc:creator>
<dc:date>2020-11-07T06:01:56Z</dc:date>
</item>
<item>
<title>flip flop Real estate investment with friend</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/flip-flop-real-estate-investment-with-friend/01/1739348#M605
</link>
<description>
<P>I am investing 100% money to buy a property with my friend.&nbsp; &nbsp;My friend will do all the management work to hire and fix up the property and will sell the property for profit.&nbsp; &nbsp;Profit&nbsp; is split between us 50 50.&nbsp; &nbsp;He is buying the home under his company LLC.</P><P>My question is what form I need from him to report my share of the profit of the investment that I made.&nbsp; &nbsp;Since it is investment income, I want to fill the schedule D so I can&nbsp; pay the low tax on my gain.&nbsp; &nbsp;Thank you</P>
</description>
<pubDate>Sun, 01 Nov 2020 22:08:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/flip-flop-real-estate-investment-with-friend/01/1739348#M605
</guid>
<dc:creator>shafiq</dc:creator>
<dc:date>2020-11-01T22:08:31Z</dc:date>
</item>
<item>
<title>[email address removed]</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/email-address-removed/01/1737783#M603
</link>
<description>
<P>received $75K for equity in home due to divorce.&nbsp;&nbsp;</P><P>Owe $25K for personal loan settlement.</P><P>Want to start an account for a child (IRA, trust?)</P><P>What is best way to invest without paying high taxes on remaining funds??&nbsp; How much can I put into personal savings account with out tax&nbsp; penalties???</P>
</description>
<pubDate>Tue, 27 Oct 2020 15:31:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/email-address-removed/01/1737783#M603
</guid>
<dc:creator>habelcon</dc:creator>
<dc:date>2020-10-27T15:31:42Z</dc:date>
</item>
<item>
<title>
what is relinquished property equity on a 1031 exchange
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/what-is-relinquished-property-equity-on-a-1031-exchange/01/1720446#M577
</link>
<description>
<P>30 ye<SPAN>ars&nbsp;ago I bought&nbsp;a rental propety</SPAN></P><P><SPAN>20 years&nbsp;<EM>&nbsp;</EM>I did&nbsp;a qualified 1031 exchange</SPAN></P><P><SPAN>Now I&nbsp;am selling the 2nd building</SPAN></P><P><SPAN>On my exchange&nbsp;agreement from 20 years&nbsp;ago there is&nbsp;a $&nbsp;amount called&nbsp; "Relinquished Property Equity"&nbsp;</SPAN></P><P><SPAN>Is this&nbsp; amount the basis that I should use going into the calculation for the 2nd building?&nbsp;</SPAN></P><P><SPAN>I&nbsp;assume that I subtract the depreciation on the first building from this relinquished property&nbsp;amount / basis&nbsp; before calculating building 2?</SPAN></P>
</description>
<pubDate>Tue, 15 Sep 2020 01:32:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/what-is-relinquished-property-equity-on-a-1031-exchange/01/1720446#M577
</guid>
<dc:creator>mbardshore</dc:creator>
<dc:date>2020-09-15T01:32:31Z</dc:date>
</item>
<item>
<title>
Can I open IRA while I have Employee sponsored 401K
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/can-i-open-ira-while-i-have-employee-sponsored-401k/01/1717383#M572
</link>
<description>
<P>Hello Experts,</P><P>&nbsp;</P><P>I participate in my employee sponsored 401K and my AGI exceeds the limits specified for Roth IRA.</P><P>Can I open an Traditional IRA account though two conditions are true:</P><P>- Participate in 401K</P><P>-AGI &gt;= limits.</P><P>&nbsp;</P><P>I understand that I may not be able to take deductions. Please help.</P>
</description>
<pubDate>Mon, 07 Sep 2020 00:28:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/can-i-open-ira-while-i-have-employee-sponsored-401k/01/1717383#M572
</guid>
<dc:creator>cspfire2024</dc:creator>
<dc:date>2020-09-07T00:28:20Z</dc:date>
</item>
<item>
<title>401K Rollover</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/401k-rollover/01/1709178#M569
</link>
<description>
<P>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?</P>
</description>
<pubDate>Sun, 16 Aug 2020 14:36:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/401k-rollover/01/1709178#M569
</guid>
<dc:creator>CaliQuestions</dc:creator>
<dc:date>2020-08-16T14:36:16Z</dc:date>
</item>
<item>
<title>How is Put option premium taxed?</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/how-is-put-option-premium-taxed/01/1704280#M562
</link>
<description>
<P>Hi!</P><P>&nbsp;</P><P>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 &nbsp;profit be taxed when I file my taxes for the year 2022? &nbsp;As ordinary income, or as long term capital gains?</P>
</description>
<pubDate>Wed, 05 Aug 2020 13:41:15 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/how-is-put-option-premium-taxed/01/1704280#M562
</guid>
<dc:creator>nomad_dt</dc:creator>
<dc:date>2020-08-05T13:41:15Z</dc:date>
</item>
<item>
<title>Brokerage Account Basics</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/brokerage-account-basics/01/1701757#M556
</link>
<description>
<P>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.</P><P>&nbsp;</P><P>I read that TurboTax Premiere can link and import to brokerage accounts.&nbsp; Does this automatically import everything I need for my tax return and I don't need to worry about anything else?</P><P>&nbsp;</P><P>Do I need need to keep track of every stock/security that I sell throughout the year and report each sale individually to turbotax?&nbsp; Can I enter each sale as I go through the year so that I don't have a large number to enter all at once at filing time?</P><P>&nbsp;</P><P>Thank you for your help!&nbsp; As you can see, I am new to this.</P>
</description>
<pubDate>Fri, 31 Jul 2020 11:56:06 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/brokerage-account-basics/01/1701757#M556
</guid>
<dc:creator>dh103</dc:creator>
<dc:date>2020-07-31T11:56:06Z</dc:date>
</item>
<item>
<title>ESPP SALES</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/espp-sales/01/1669559#M549
</link>
<description>
<P>I sold stocks that were acquired through ESPP and dividend reinvestment of the stocks acquired through ESPP of a former employer. I received a W2 from my former employer for the sale and also a form 1099-B from my broker. How does turbo tax handle issues like this? I entered the info the way they are and am being asked for an adjusted cost basis. My broker told me I have all I need to file. No form 3392 was ever provided by my employer when these shares were acquired. How do I go about this?</P>
</description>
<pubDate>Sat, 11 Jul 2020 14:27:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/espp-sales/01/1669559#M549
</guid>
<dc:creator>nosorry</dc:creator>
<dc:date>2020-07-11T14:27:45Z</dc:date>
</item>
<item>
<title>Cost basis calculators</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-calculators/01/1678029#M547
</link>
<description>
<P>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.&nbsp;</P>
</description>
<pubDate>Tue, 14 Jul 2020 01:53:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-calculators/01/1678029#M547
</guid>
<dc:creator>Fretworn</dc:creator>
<dc:date>2020-07-14T01:53:31Z</dc:date>
</item>
<item>
<title>
questions for capital gain tax is double charge from my individual tax and capital gain tax?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/questions-for-capital-gain-tax-is-double-charge-from-my-individual-tax-and-capital-gain-tax/01/1669645#M540
</link>
<description>
<P>I have paid capital gain tax through my individual tax , Do I need to pay additional capital gain tax based 0%, 15%,25%? What form do I fill up to pay this additional tax?</P><P>Do both short term and long term&nbsp; need to pay additional capital gain tax according to 0%, 15%, 25%?</P><P>&nbsp;</P><P>Thanks,</P><P>&nbsp;</P><P>Doris&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Sat, 11 Jul 2020 15:15:38 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/questions-for-capital-gain-tax-is-double-charge-from-my-individual-tax-and-capital-gain-tax/01/1669645#M540
</guid>
<dc:creator>yilanwer12</dc:creator>
<dc:date>2020-07-11T15:15:38Z</dc:date>
</item>
<item>
<title>Taxes</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/taxes/01/1669223#M538
</link>
<description/>
<pubDate>Sat, 11 Jul 2020 05:05:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/taxes/01/1669223#M538
</guid>
<dc:creator>isaacramsey</dc:creator>
<dc:date>2020-07-11T05:05:56Z</dc:date>
</item>
<item>
<title>Opening an IRA while on unemployment</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/opening-an-ira-while-on-unemployment/01/1662421#M535
</link>
<description>
<P>Hello,</P><P>&nbsp;</P><P>I am currently unemployed due to coronavirus, but in doing my 2019 taxes turbo tax suggested opening/contributing to an IRA. I do not currently have one, but if I did open one, will it affect my current unemployment benefits? I workers all of 2019 and for 2 1/2 months in 2020, the year of my unemployment benefits.</P><P>&nbsp;</P><P>Will my Connecticut unemployment benefits be reduced or stopped if I open this IRA?</P><P>&nbsp;</P><P>thank you!!!</P>
</description>
<pubDate>Tue, 07 Jul 2020 22:47:19 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/opening-an-ira-while-on-unemployment/01/1662421#M535
</guid>
<dc:creator>simonlhowes</dc:creator>
<dc:date>2020-07-07T22:47:19Z</dc:date>
</item>
<item>
<title>Modifying sales category in stock sales</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/modifying-sales-category-in-stock-sales/01/1658728#M534
</link>
<description>
<P>One of my Stock sales is under the Box D sales when it should be under Box A per 1099-B. How can I correct it?</P>
</description>
<pubDate>Mon, 06 Jul 2020 02:58:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/modifying-sales-category-in-stock-sales/01/1658728#M534
</guid>
<dc:creator>Reyhaneh274</dc:creator>
<dc:date>2020-07-06T02:58:04Z</dc:date>
</item>
<item>
<title>
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?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/if-i-expect-to-pay-tuition-in-the-coming-years-should-i-keep-contributing-to-a-401k-or-open-a-529/01/1651966#M533
</link>
<description>
<P>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?&nbsp;</P><P>&nbsp;</P><P>Thanks!</P>
</description>
<pubDate>Tue, 30 Jun 2020 19:30:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/if-i-expect-to-pay-tuition-in-the-coming-years-should-i-keep-contributing-to-a-401k-or-open-a-529/01/1651966#M533
</guid>
<dc:creator>sum_student</dc:creator>
<dc:date>2020-06-30T19:30:03Z</dc:date>
</item>
<item>
<title>Buying out real estate rental LLP</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/buying-out-real-estate-rental-llp/01/1651220#M532
</link>
<description>
<P><SPAN>I have several rental properties with a partner we are members of an equally owned LLP and file our taxes as such, each receiving a K1 using turbo tax.</SPAN></P><P>I</P><P>am looking to buy him out this year. I would probably just buy all the shares of a LLP converting the LLP into a single member LLC.</P><P>&nbsp;</P><P>A couple of questions I have:<BR />1. When I do this will I be able to put these properties on to my schedule E like the other properties I already hold in my own name?</P><P><BR />2. How does the depreciation work on that? Do we both do depreciation recapture does just he do that? Is that put on our final year of business taxes (closing the business)? Do I carry the depreciation I had over to my schedule E? ... So many questions!&nbsp;</P><P>&nbsp;</P><P>3. How does the price that I pay to buy out the LLP work in regard to taxes? ( For example if I paid him $100,000 buyout the LLP)? Does it get added to cost basis of properties, do I split it across the 5 properties we own? Etc.</P><P>&nbsp;</P><P>Note we use multiple turbo tax products for business and personal/rental. I want to simplify tax time with this buyout for years going forward. e.g. one version of turbo tax, all properties on my schedule E.</P>
</description>
<pubDate>Tue, 30 Jun 2020 02:16:12 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/buying-out-real-estate-rental-llp/01/1651220#M532
</guid>
<dc:creator>ene777ene</dc:creator>
<dc:date>2020-06-30T02:16:12Z</dc:date>
</item>
<item>
<title>1099B</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099b/01/1647192#M529
</link>
<description>
<P>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.&nbsp; I have not contributed to the account for over 20 years, it just kept building up on its own.&nbsp; I received a 1099-B which 851 shares were divided into long and short term investments. The remain 1415 shares were not categorized.&nbsp; For the 1415, the 1099-B states "Transactions for which basis is <STRONG>NOT reported to the IRS</STRONG> and for which short-term or long-term determination is unknown.&nbsp; You must determine short or long term gain\(loss) based on your records and report on Form 8949, Part II, with Box E checked, as appropriate. "</P><P>Questions:</P><P>1. How do I go back 30 years to check for gains/losses?</P><P>2.&nbsp; Do I really even need to check?&nbsp; Will I get into trouble by the IRS if I don't?</P>
</description>
<pubDate>Fri, 26 Jun 2020 15:15:00 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099b/01/1647192#M529
</guid>
<dc:creator>SteveS58</dc:creator>
<dc:date>2020-06-26T15:15:00Z</dc:date>
</item>
<item>
<title>
I issued a 1099 in 2019, but the house flip wasn't sold until 2020. How can I can forward that 1099 expense and add it to the basis of the house?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/i-issued-a-1099-in-2019-but-the-house-flip-wasn-t-sold-until-2020-how-can-i-can-forward-that-1099/01/1646425#M528
</link>
<description>
<P>We started a house flipping business last year. We bought a property and did improvements late 2019, and sold the house early 2020. Our contractor was paid Nov/Dec 2019.&nbsp;</P><P>&nbsp;</P><P>Since 2019 didn't generate any income for our business, can I carry forward this 1099 expense and add it to the basis of the house sold in 2020? Or do I consider it a loss for 2019, and carry that loss forward? Basically I'm not sure how to deduct the 1099 expense in 2019, and apply it to the profits of the house sold in 2020.</P><P>&nbsp;</P><P>Thank you! Hope that wasn't too confusing <span class="lia-unicode-emoji" title=":slightly_smiling_face:">🙂</span></P>
</description>
<pubDate>Thu, 25 Jun 2020 19:07:33 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/i-issued-a-1099-in-2019-but-the-house-flip-wasn-t-sold-until-2020-how-can-i-can-forward-that-1099/01/1646425#M528
</guid>
<dc:creator>REI-hiker</dc:creator>
<dc:date>2020-06-25T19:07:33Z</dc:date>
</item>
<item>
<title>After Tax 401k Contributions/IRA Roll Over</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/after-tax-401k-contributions-ira-roll-over/01/1646035#M526
</link>
<description>
<P>Hello,</P><P>I am trying to get a better understanding of After Tax 401K contribution and IRA Rollover.&nbsp; Let's say I invest an additional $10,000 annually into my 401K After Tax and roll this into an IRA.&nbsp; It's my understanding that I would roll over the contribution into a&nbsp;Roth IRA and the earnings into a traditional IRA.&nbsp; What are the short term and long term tax implications of this scenario?</P>
</description>
<pubDate>Thu, 25 Jun 2020 13:08:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/after-tax-401k-contributions-ira-roll-over/01/1646035#M526
</guid>
<dc:creator>TheBills</dc:creator>
<dc:date>2020-06-25T13:08:27Z</dc:date>
</item>
<item>
<title>Tax and stock earnings</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/tax-and-stock-earnings/01/1645142#M524
</link>
<description>
<P>If I was to make a profit from one stock with in less than a year but immediately put it into another, would I need to pay the taxes on the previous earnings?</P>
</description>
<pubDate>Wed, 24 Jun 2020 18:03:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/tax-and-stock-earnings/01/1645142#M524
</guid>
<dc:creator>BrandonLin1</dc:creator>
<dc:date>2020-06-24T18:03:46Z</dc:date>
</item>
<item>
<title>
What are advantages / disadvantages of putting your primary home in to LLC
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/what-are-advantages-disadvantages-of-putting-your-primary-home-in-to-llc/01/1633076#M522
</link>
<description>
<P>WA state where homestead exemption is $125000.</P><P>&nbsp;</P><P>Now if someone owns a single family house worth $220000 and worried about potential lawsuit.</P><P>He is considering putting this home in to a LLC.</P><P>&nbsp;</P><P>Can someone explain what are the advantages and disadvantages? and answer my questions below?</P><P>&nbsp;</P><P>1. I found that it provides protection against liabilities but if this person does not have any other significant assets other than this house - there is not much advantage on this point correct?</P><P>&nbsp;</P><P>2. What about the tax benefits? He is not renting at the moment ...so are there any other tax advantages if he put in to LLC?</P><P>&nbsp;</P><P>3.if home is put in LLC ..does he loose homestead exemption?</P><P>&nbsp;</P><P>4. are there any tax advantages if he sells through LLC ?</P><P>also&nbsp; are there any tax advantages if he gifts this property to a family member ?</P><P>&nbsp;</P>
</description>
<pubDate>Sun, 14 Jun 2020 07:49:37 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/what-are-advantages-disadvantages-of-putting-your-primary-home-in-to-llc/01/1633076#M522
</guid>
<dc:creator>curious4913</dc:creator>
<dc:date>2020-06-14T07:49:37Z</dc:date>
</item>
<item>
<title>401K Match</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/401k-match/01/1604130#M514
</link>
<description>
<P>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 account while the match is canceled. My questions are will this impact my tax refund at the end of the year and also asking if investing in strong stocks like Apple, Amazon and others like United Health that out perform my 401k would be a better idea? Should I even contribute to my 401k during this time?</P>
</description>
<pubDate>Sun, 24 May 2020 00:47:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/401k-match/01/1604130#M514
</guid>
<dc:creator>MustLoveSubies</dc:creator>
<dc:date>2020-05-24T00:47:03Z</dc:date>
</item>
<item>
<title>
Do co-owners on an investment, filing separate taxes, add dividends to their income each?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/do-co-owners-on-an-investment-filing-separate-taxes-add-dividends-to-their-income-each/01/1592702#M503
</link>
<description>
<P>Do co-owners on an investment, filing separate taxes, add dividends to their income each?</P>
</description>
<pubDate>Sun, 17 May 2020 02:50:59 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/do-co-owners-on-an-investment-filing-separate-taxes-add-dividends-to-their-income-each/01/1592702#M503
</guid>
<dc:creator>fajaso</dc:creator>
<dc:date>2020-05-17T02:50:59Z</dc:date>
</item>
<item>
<title>
Converting a Roth IRA back to a Traditional IRA (within the same tax year)
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/converting-a-roth-ira-back-to-a-traditional-ira-within-the-same-tax-year/01/1571844#M499
</link>
<description>
<P>Does anyone know if this is possible?</P><P>&nbsp;</P><P>After entering the amount converted from a Traditional IRA to a Roth IRA, the Premium Tax Credit (PTC) went away.&nbsp; It now appears that I owe not only the tax on the converted amount (from traditional to Roth) I now need to repay the PTC.</P><P>&nbsp;</P><P>The only way I see to avoid having to repay the PTC is to dissolve the Roth conversion.</P><P>&nbsp;</P><P>Anyone have any knowledge of this tax situation?</P>
</description>
<pubDate>Wed, 06 May 2020 23:14:41 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/converting-a-roth-ira-back-to-a-traditional-ira-within-the-same-tax-year/01/1571844#M499
</guid>
<dc:creator>lisaannsala</dc:creator>
<dc:date>2020-05-06T23:14:41Z</dc:date>
</item>
<item>
<title>Employee Stock Plan</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/employee-stock-plan/01/1571259#M498
</link>
<description>
<P>When my E Trade account information was loaded to my return, all transaction activity (sale, capital gain, cost basis, etc) came across fine.&nbsp; However, Federal Tax was taken out at the time of the transaction activity which is NOT found anywhere on the E Trade account tax documents.&nbsp; I was able to obtain Employee Stock Plan Release Confirmation from my employer which DOES reflect Federal, Social Security, Medicare, taxes which were withheld/deducted&nbsp;</P><P>HOW DO I REFLECT THE FEDERAL TAX WITHHELD, AS THIS MAKES A BIG DIFFERENCE IN WHAT IS REFLECTED ON MY TOTAL RETURN TO PAY?</P><P>THANK YOU VERY MUCH!!</P>
</description>
<pubDate>Wed, 06 May 2020 19:42:08 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/employee-stock-plan/01/1571259#M498
</guid>
<dc:creator>djblackstone</dc:creator>
<dc:date>2020-05-06T19:42:08Z</dc:date>
</item>
<item>
<title>stocks</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stocks/01/1559700#M493
</link>
<description/>
<pubDate>Sat, 02 May 2020 18:59:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stocks/01/1559700#M493
</guid>
<dc:creator>graimo</dc:creator>
<dc:date>2020-05-02T18:59:31Z</dc:date>
</item>
<item>
<title>Amending taxes to add 1099 from Robinhood</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/amending-taxes-to-add-1099-from-robinhood/01/1552740#M487
</link>
<description>
<P>I filed my 2019 return before I received a 1099 from Robinhood for the stocks I owned that year. I am trying to find a way to amend my taxes to add them and so far I have not been able to figure this out. Would it be possible to claim them on next years taxes or do I need to add them to this years return?</P>
</description>
<pubDate>Thu, 30 Apr 2020 09:42:07 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/amending-taxes-to-add-1099-from-robinhood/01/1552740#M487
</guid>
<dc:creator>jkellerman97</dc:creator>
<dc:date>2020-04-30T09:42:07Z</dc:date>
</item>
<item>
<title>
reporting a bug - Code AH rather than Code Z on Box 20 of the Schedule K-1 has negative tax consequences. Do NOT use this method
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/reporting-a-bug-code-ah-rather-than-code-z-on-box-20-of-the-schedule-k-1-has-negative-tax/01/1550550#M483
</link>
<description>
<P><STRONG>Using Code AH rather than Code Z on Box 20 of the Schedule K-1 has significant and negative tax consequences.&nbsp; TurboTax will not apply the deduction you should get, you MUST enter Code Z amounts under Code Z.&nbsp; Open this post for a solution !<BR /></STRONG></P>
</description>
<pubDate>Thu, 07 May 2020 17:59:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/reporting-a-bug-code-ah-rather-than-code-z-on-box-20-of-the-schedule-k-1-has-negative-tax/01/1550550#M483
</guid>
<dc:creator>johnshops</dc:creator>
<dc:date>2020-05-07T17:59:31Z</dc:date>
</item>
<item>
<title>reporting flipping house profit</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/reporting-flipping-house-profit/01/1542864#M482
</link>
<description>
<P>I invest my money with my friend flipping the property, at the end of the sale he gives me my profit and 1099 misc, in column 7. &nbsp; IS this correct?.&nbsp; since I did not work with him or for him, I only invested money. &nbsp; I am the only investor of the property and my friend take care of all the updating and selling work. &nbsp; If 1099misc is not correct, then what form he should have given me. &nbsp; I'm not a partner with him either.</P>
</description>
<pubDate>Mon, 27 Apr 2020 16:14:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/reporting-flipping-house-profit/01/1542864#M482
</guid>
<dc:creator>shafiq</dc:creator>
<dc:date>2020-04-27T16:14:50Z</dc:date>
</item>
<item>
<title>flipping houses with my friend</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/flipping-houses-with-my-friend/01/1542551#M481
</link>
<description>
<P>I give my money to my friend to buy a home, he&nbsp; buys the home in his name and then does all the work and resells it, we split the profit 50 50.&nbsp; I rollover my profit and give it back to my friend to buy another home.&nbsp; At the end of the year he gave me $30,000 1099 misc that I had rolled over this money, meaning I gave it back to him to buy another property.&nbsp; How do I report this 1099 misc that he gave me? thanks</P>
</description>
<pubDate>Mon, 27 Apr 2020 15:04:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/flipping-houses-with-my-friend/01/1542551#M481
</guid>
<dc:creator>shafiq</dc:creator>
<dc:date>2020-04-27T15:04:46Z</dc:date>
</item>
<item>
<title>2 1099B's for same withdrawal</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/2-1099b-s-for-same-withdrawal/01/1535362#M476
</link>
<description>
<P>I was over 591/2 when I withdrew from 403(b) funds and rolled into an IRA at my credit union.&nbsp; Within 30 days I then withdrew from that IRA to purchase a second home.&nbsp; I did not pay tax on either.&nbsp;&nbsp;</P><P>Do I report both of these 1099B's?&nbsp; How should I report the purchase of the second home?&nbsp; Are there any expenses I can charge against this?</P>
</description>
<pubDate>Sat, 25 Apr 2020 16:15:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/2-1099b-s-for-same-withdrawal/01/1535362#M476
</guid>
<dc:creator>jjgerry</dc:creator>
<dc:date>2020-04-25T16:15:29Z</dc:date>
</item>
<item>
<title>1099B - Cost Basis Method = FIFO</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099b-cost-basis-method-fifo/01/1532825#M475
</link>
<description>
<P>I sold some stock that was converted from a MetLife insurance policy years ago. - The 1099B says FIFO for Cost Basis Method.&nbsp; I did an import from Computershare and the field is still blank - how should I proceed?&nbsp; Any suggestions would be greatly appreciated.</P>
</description>
<pubDate>Fri, 24 Apr 2020 21:31:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099b-cost-basis-method-fifo/01/1532825#M475
</guid>
<dc:creator>2faithcooks</dc:creator>
<dc:date>2020-04-24T21:31:03Z</dc:date>
</item>
<item>
<title>Estate</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/estate/01/1522067#M473
</link>
<description/>
<pubDate>Wed, 22 Apr 2020 08:28:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/estate/01/1522067#M473
</guid>
<dc:creator>Blunt87</dc:creator>
<dc:date>2020-04-22T08:28:46Z</dc:date>
</item>
<item>
<title>oid interest</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/oid-interest/01/1511196#M471
</link>
<description>
<P>Does one net interest shortfall and oid interest to determine gain or loss from a non covered security?</P>
</description>
<pubDate>Sun, 19 Apr 2020 17:25:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/oid-interest/01/1511196#M471
</guid>
<dc:creator>elks</dc:creator>
<dc:date>2020-04-19T17:25:42Z</dc:date>
</item>
<item>
<title>IRA dividends</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/ira-dividends/01/1481176#M467
</link>
<description>
<P>If I am not taking distributions from my IRA, are dividends (1095-Div) taxable?</P><P>&nbsp;</P>
</description>
<pubDate>Wed, 15 Apr 2020 18:46:13 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/ira-dividends/01/1481176#M467
</guid>
<dc:creator>dcomella</dc:creator>
<dc:date>2020-04-15T18:46:13Z</dc:date>
</item>
<item>
<title>UBTI in IRA | 990-T Filing</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/ubti-in-ira-990-t-filing/01/1478543#M466
</link>
<description>
<P>My financial advisor suddenly sent me a 990-T form highlighting an owed UBTI in my IRA.</P><P>&nbsp;</P><P>Since when have IRA custodians had to file 990-T's on behalf of their clients? I was told the IRS only mandated it after 2018 but would like some guidance on exactly when this came to pass.&nbsp;</P><P>&nbsp;</P><P>Any help is appreciated!</P>
</description>
<pubDate>Wed, 15 Apr 2020 16:41:06 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/ubti-in-ira-990-t-filing/01/1478543#M466
</guid>
<dc:creator>amnerg73</dc:creator>
<dc:date>2020-04-15T16:41:06Z</dc:date>
</item>
<item>
<title>
What do i need to do with tax situation I plan to stop renting my townhome?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/what-do-i-need-to-do-with-tax-situation-i-plan-to-stop-renting-my-townhome/01/1474789#M465
</link>
<description>
<P>I have rented my townhome for 9 years, I plan to stop renting it in July and let my son move in. What do I need to report tax for 2020 or I can wait until I sell my townhome maybe 10 years later? Please advise!</P>
</description>
<pubDate>Wed, 15 Apr 2020 12:59:58 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/what-do-i-need-to-do-with-tax-situation-i-plan-to-stop-renting-my-townhome/01/1474789#M465
</guid>
<dc:creator>tchen2729</dc:creator>
<dc:date>2020-04-15T12:59:58Z</dc:date>
</item>
<item>
<title>Tax on Capital Gains</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/tax-on-capital-gains/01/1467903#M463
</link>
<description>
<P>What incomes are considered when determining the tax bracket for capital gains?&nbsp; Is Social Security and distributions from Annuities included?&nbsp; Are there any adjustment for seniors?</P>
</description>
<pubDate>Tue, 14 Apr 2020 19:11:07 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/tax-on-capital-gains/01/1467903#M463
</guid>
<dc:creator>jj1952</dc:creator>
<dc:date>2020-04-14T19:11:07Z</dc:date>
</item>
<item>
<title>Investment for land</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/investment-for-land/01/1455208#M459
</link>
<description>
<P>I recently purchased land as an investment..&nbsp; Can the cost of the land be used as an expense?</P>
</description>
<pubDate>Mon, 13 Apr 2020 15:38:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/investment-for-land/01/1455208#M459
</guid>
<dc:creator>csewell56</dc:creator>
<dc:date>2020-04-13T15:38:55Z</dc:date>
</item>
<item>
<title>Traditional IRA Contribution</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/traditional-ira-contribution/01/1438264#M457
</link>
<description>
<P>My income is high enough to enable me to invest $7000 in a Traditional IRA. When I add that to my taxes, the taxable income should decrease since the Traditional IRA is pre-tax. It didn't. I am confused.</P>
</description>
<pubDate>Fri, 10 Apr 2020 20:16:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/traditional-ira-contribution/01/1438264#M457
</guid>
<dc:creator>bkhillman</dc:creator>
<dc:date>2020-04-10T20:16:29Z</dc:date>
</item>
<item>
<title>Opening stock account while on J1 visa</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/opening-stock-account-while-on-j1-visa/01/1437053#M455
</link>
<description>
<P>Hi, I am a J1 physician Alien in the US since June 2016. I am trying to open a stock (brokerage) account. What form should I use: the W -8/W-8ben form or the W-9 form?</P><P>Thank you,</P><P>Jean</P>
</description>
<pubDate>Fri, 10 Apr 2020 17:40:32 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/opening-stock-account-while-on-j1-visa/01/1437053#M455
</guid>
<dc:creator>Jean85</dc:creator>
<dc:date>2020-04-10T17:40:32Z</dc:date>
</item>
<item>
<title>SIPC Insurance</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/sipc-insurance/01/1423089#M453
</link>
<description>
<P>For&nbsp;FDIC, I understand that the money could be lost&nbsp; (e.g.&nbsp; if a bank <U><STRONG>lends</STRONG> </U>out a large portion of loan and could not get the money back, then the bank could go bankruptcy ), that is why customers need FDIC insurance.</P><P>&nbsp;</P><P>But for stocks, how can stock be lost? When customer buys stock, and the stock just stays on customer's account. Brokerage firm does not <U><STRONG>lend</STRONG> </U>out the stock to other people, correct? Even if brokerage firm goes bankruptcy, the stock should still be there, customer can just transfer stock to another brokerage firm. Why we need SIPC insurance?</P><P>&nbsp;</P><P>The reason I am asking: is SIPC insurance really important? If yes, why? What if someone has multiple millions dollars of stock? Should he/she opens multiple brokerage accounts and keep less than $500k on each account (considering the SIPC insurance limit)?</P><P>&nbsp;</P><P>Thanks.</P>
</description>
<pubDate>Wed, 08 Apr 2020 00:57:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/sipc-insurance/01/1423089#M453
</guid>
<dc:creator>VAer</dc:creator>
<dc:date>2020-04-08T00:57:52Z</dc:date>
</item>
<item>
<title>
TD Ameritrade: FDIC Insured deposit account core not covered by SIPC
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/td-ameritrade-fdic-insured-deposit-account-core-not-covered-by-sipc/01/1419125#M450
</link>
<description>
<P>I would like some education on Roth IRA. When I deposit money to my roth IRA, it was listed as cash, then second day it is listed as "FDIC Insured deposit account core not covered by SIPC".</P><P>&nbsp;</P><P>What does "FDIC Insured deposit account core not covered by SIPC" mean?</P><P>&nbsp;</P><P>Thanks.</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Cash alternative.JPG" style="width: 962px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/7225i9D686E1F195471FD/image-size/large?v=v2&amp;px=999" role="button" title="Cash alternative.JPG" alt="Cash alternative.JPG" /></span></P>
</description>
<pubDate>Tue, 07 Apr 2020 12:33:59 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/td-ameritrade-fdic-insured-deposit-account-core-not-covered-by-sipc/01/1419125#M450
</guid>
<dc:creator>VAer</dc:creator>
<dc:date>2020-04-07T12:33:59Z</dc:date>
</item>
<item>
<title>Roth IRA Contribution question</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-contribution-question/01/1415254#M448
</link>
<description>
<P><A href="https://investor.vanguard.com/ira/roth-ira-income-limits" target="_self">https://investor.vanguard.com/ira/roth-ira-income-limits</A>&nbsp;</P><P>&nbsp;</P><P>As the link indicates, when income goes above a certain limit, it is not allowed to contribute to roth IRA.</P><P>&nbsp;</P><P>The question is: how should people know his/her current year's income (if income varies throughout the year)?</P><P>&nbsp;</P><P>Example: John is single, his salary (W2) income is less than $124K, and he contributes $6000 roth IRA in July 2020. Then in September 2020, he sells his stock and makes more than $200k capital gain, and his 2020 income is way too high and he is not qualified to contribute any amount to roth IRA. What will happen to earlier contributed $6000 roth IRA?</P><P>&nbsp;</P><P>Thanks.</P>
</description>
<pubDate>Mon, 06 Apr 2020 18:21:01 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-contribution-question/01/1415254#M448
</guid>
<dc:creator>VAer</dc:creator>
<dc:date>2020-04-06T18:21:01Z</dc:date>
</item>
<item>
<title>Form 8949 is not on turbotax premier. I use ETRADE</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/form-8949-is-not-on-turbotax-premier-i-use-etrade/01/1414386#M447
</link>
<description/>
<pubDate>Mon, 06 Apr 2020 15:57:44 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/form-8949-is-not-on-turbotax-premier-i-use-etrade/01/1414386#M447
</guid>
<dc:creator>1grenada2</dc:creator>
<dc:date>2020-04-06T15:57:44Z</dc:date>
</item>
<item>
<title>AT Risk or Not at Risk</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/at-risk-or-not-at-risk/01/1401303#M442
</link>
<description>
<P>I invest in Energy Transfer Partners LP .&nbsp; Is my investment At Risk or Not At Risk for income tax purposes ?</P>
</description>
<pubDate>Fri, 03 Apr 2020 16:32:44 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/at-risk-or-not-at-risk/01/1401303#M442
</guid>
<dc:creator>WFB</dc:creator>
<dc:date>2020-04-03T16:32:44Z</dc:date>
</item>
<item>
<title>analyzing debt repayment of a company</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/analyzing-debt-repayment-of-a-company/01/1394374#M438
</link>
<description>
<P>hey guys,</P><P>I would like to know/understand whether its a good or bad sign when a director&nbsp;purchases a participation interest in the company's loan.</P><P>it means that the director is landing money to his company, so that says he has high confidence in the company's ability to repay the debt? or am I missing the point?</P><P>&nbsp;</P><P>thank you</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Thu, 02 Apr 2020 00:03:18 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/analyzing-debt-repayment-of-a-company/01/1394374#M438
</guid>
<dc:creator>LTI</dc:creator>
<dc:date>2020-04-02T00:03:18Z</dc:date>
</item>
<item>
<title>Schedule D loss</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/schedule-d-loss/01/1393889#M437
</link>
<description>
<P>I have a loss carry forward from 2018 on Section 1256 contracts.&nbsp; How/where do I input the loss for 2019?</P>
</description>
<pubDate>Wed, 01 Apr 2020 22:33:06 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/schedule-d-loss/01/1393889#M437
</guid>
<dc:creator>FredMertz</dc:creator>
<dc:date>2020-04-01T22:33:06Z</dc:date>
</item>
</channel>
</rss>