Investing topics https://ttlc.intuit.com/community/investing/discussion/02/215 Investing topics Wed, 28 Oct 2020 06:15:19 GMT 215 2020-10-28T06:15:19Z [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 K-1, Box 13, Code W basically just says "FROM PASSTHROUGH" https://ttlc.intuit.com/community/investing/discussion/k-1-box-13-code-w-basically-just-says-from-passthrough/01/1725169#M593 <P>I have three K-1's from passive activity investments that all have Box 13, Code W amounts and the descriptions are kind of similar:</P><P>&nbsp;</P><P>1. "From pass-through entities"</P><P>2. "OTHER DEDUCTIONS FROM PASSTHROUGH ENTITIES"</P><P>3. "OTHER DEDUCTIONS FROM SCHEDULE OF ACTIVITIES"<BR /><BR /></P><P>That's all they say. They don't indicate whether they're portfolio deductions or business deductions.</P><P>&nbsp;</P><P>Does anyone know whether this is portfolio deductions or if it's business deductions?</P> Sat, 26 Sep 2020 23:28:18 GMT https://ttlc.intuit.com/community/investing/discussion/k-1-box-13-code-w-basically-just-says-from-passthrough/01/1725169#M593 bananapple 2020-09-26T23:28:18Z 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 2019 Roth IRA Excess Contribution https://ttlc.intuit.com/community/investing/discussion/2019-roth-ira-excess-contribution/01/1720370#M575 <P>I contributed $6000 to my Roth IRA in 2019. It turns out I wasn't eligible to contribute any for 2019. I had my broker move the excess to my 2020 contribution (for which I am eligible) on Sept 10th 2020.&nbsp; My account is worth less than it was before I contributed the excess amount and my broker rolled over $5100.</P><P>&nbsp;</P><UL><LI>Do I still need to withdraw $900 to correct last year's excess contribution?</LI><LI>How does the 10% payment on earnings work? I accumulated interest and dividends since the excess contribution.<UL><LI>Do I need to pay the 10% on those despite the entire account being worth less or will I not have any penalty on earnings?</LI><LI>Does the earnings penalty only apply to earnings between the excess contribution date and the date it's corrected, the entire year or something else?</LI><LI>Or is the 10% on earnings ignored when you are paying the 6% on the excess at this point in time?</LI></UL></LI></UL> Mon, 14 Sep 2020 23:12:49 GMT https://ttlc.intuit.com/community/investing/discussion/2019-roth-ira-excess-contribution/01/1720370#M575 chris39 2020-09-14T23:12:49Z 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 Is it possible to complete a wash sale without ever securing a loss? https://ttlc.intuit.com/community/investing/discussion/is-it-possible-to-complete-a-wash-sale-without-ever-securing-a-loss/01/1701474#M555 <P>My brokerage has identified a wash sale in the trading of a security. The progression was as follows:</P><P>&nbsp;</P><P>1. Buy 1000 of Stock X at $2.48</P><P>2. Sell 1000 of Stock X at $2.52</P><P>3. Buy 300 of Stock X at $2.53</P><P>&nbsp;</P><P>The purchase of the 300 shares apparently generated a wash sale, even though no loss had ever been obtained. I believed this to be incorrect, so I reached out to my brokerage. They advised that wash sales occur without a loss if the average of the buys supersedes the sale price.</P><P>&nbsp;</P><P>Is that right?</P> Thu, 30 Jul 2020 18:35:10 GMT https://ttlc.intuit.com/community/investing/discussion/is-it-possible-to-complete-a-wash-sale-without-ever-securing-a-loss/01/1701474#M555 cc99283 2020-07-30T18:35:10Z 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 find the source of a calculated number https://ttlc.intuit.com/community/investing/discussion/find-the-source-of-a-calculated-number/01/1551759#M485 <P>How do I find the source of a calculated number in 2019 TurboTax Premier download version?</P> Wed, 29 Apr 2020 23:17:50 GMT https://ttlc.intuit.com/community/investing/discussion/find-the-source-of-a-calculated-number/01/1551759#M485 Andy-P 2020-04-29T23:17:50Z 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=1.0&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 stocks converted to an annuity https://ttlc.intuit.com/community/investing/discussion/stocks-converted-to-an-annuity/01/1386416#M434 <P>I had various stocks (with one broker) which were move to an annuity (with a different broker). Do I have a tax liability? If I do, what forms do I need to fill out? &nbsp;</P> Tue, 31 Mar 2020 14:27:52 GMT https://ttlc.intuit.com/community/investing/discussion/stocks-converted-to-an-annuity/01/1386416#M434 cm45 2020-03-31T14:27:52Z I used HELCO to fund my LLC https://ttlc.intuit.com/community/investing/discussion/i-used-helco-to-fund-my-llc/01/1384812#M432 <P>I used my HELCO to fund my LLC. My LLC invested with Borrower who made investment and returned to LLC monthly interest payments.</P><P>My LLC &nbsp;received 1099-INT from the Borrower. Should I file schedule -C and are the HELCO &nbsp;interest deductible as business expense?</P> Tue, 31 Mar 2020 00:48:14 GMT https://ttlc.intuit.com/community/investing/discussion/i-used-helco-to-fund-my-llc/01/1384812#M432 rooksck 2020-03-31T00:48:14Z modified adjusted gross income for IRA https://ttlc.intuit.com/community/investing/discussion/modified-adjusted-gross-income-for-ira/01/1359577#M422 <P>I have W-2 reported income of $78500 and IRA contributions of 4244. However TurboTax says my modified adjusted income is $131,140.&nbsp; How can this be?</P> Wed, 25 Mar 2020 20:24:01 GMT https://ttlc.intuit.com/community/investing/discussion/modified-adjusted-gross-income-for-ira/01/1359577#M422 dharbage 2020-03-25T20:24:01Z 1099-B Cost Basis for stock received as gift and sold years later https://ttlc.intuit.com/community/investing/discussion/1099-b-cost-basis-for-stock-received-as-gift-and-sold-years-later/01/1350412#M418 <P>This is a convoluted situation.&nbsp; Have never sold stock.&nbsp; The 1099-B does not have a cost basis for some of the shares involved.</P><P>On August 25, 1997, my wife received 6 shares of General Electric Company stock from her father.&nbsp; He is now long deceased.&nbsp; No record of his cost of that stock.<BR />On May 18, 1998, she gave 1 share of the stock to me and one each to our two minor children&nbsp; as custodian.<BR />She retained 3 shares in her name.&nbsp; Her stock certificate was dated May 18, 1998.<BR />On November 7, 2019, the 1 share of stock of one child no longer a minor was transferred to my wife&nbsp; due to the child's death on October 12, 2014.<BR />Linda sold her shares on August 9, 2019.<BR />Joseph sold his shares on August 9, 2019.<BR />Linda sold the shares inherited from the deceased child on November 19,2019.</P> Mon, 23 Mar 2020 14:24:25 GMT https://ttlc.intuit.com/community/investing/discussion/1099-b-cost-basis-for-stock-received-as-gift-and-sold-years-later/01/1350412#M418 JOEBARTA 2020-03-23T14:24:25Z Reinvestested Div https://ttlc.intuit.com/community/investing/discussion/reinvestested-div/01/1336057#M414 <P>I thought if you set up a DRIP in your stock account you did not get taxed each year on the dividends received?&nbsp;</P> Thu, 19 Mar 2020 16:35:10 GMT https://ttlc.intuit.com/community/investing/discussion/reinvestested-div/01/1336057#M414 mjsmith 2020-03-19T16:35:10Z Taxes https://ttlc.intuit.com/community/investing/discussion/taxes/01/1331402#M411 <P>Where enter Total Capital Distributions from Form1099-Div onto my 1040 Tase Return?</P> Wed, 18 Mar 2020 15:16:57 GMT https://ttlc.intuit.com/community/investing/discussion/taxes/01/1331402#M411 LJPurdue 2020-03-18T15:16:57Z Where/How do I enter a Return of Principal reported on a 1099-B? https://ttlc.intuit.com/community/investing/discussion/where-how-do-i-enter-a-return-of-principal-reported-on-a-1099-b/01/1320927#M408 <P>I received a Composite Statement of 1099 Forms from Raymond James &amp; Associates.&nbsp; In the 1099-B section of the statement it reported the redemption of the Guggenheim US 50 unit investment trust that I purchased in 2018 and held to maturity in 2019.&nbsp; Dividends were paid monthly and reinvested in the trust.&nbsp; There were 12 Short Term Transactions for Noncovered Lots and 2 Long Term Transactions for Noncovered Lots that I entered manually in TurboTax.</P><P>&nbsp;</P><P>There was one&nbsp; Nondetermined Term Transaction for Noncovered Lots that was identified as a Return of Principal.&nbsp; Where or how is this entered in TurboTax?&nbsp; Is a Return of Principal the same as a Return of Capital?</P><P>&nbsp;</P><P>If it is a Return of Capital, do I need to go back and adjust the cost basis of all transactions that occurred prior to 03/072019?&nbsp; Or, can I simply adjust the cost basis of my original purchase of the trust?&nbsp;</P> Sun, 15 Mar 2020 21:45:09 GMT https://ttlc.intuit.com/community/investing/discussion/where-how-do-i-enter-a-return-of-principal-reported-on-a-1099-b/01/1320927#M408 m-c-crockett 2020-03-15T21:45:09Z Royal Caribbean VS Carnival Cruise https://ttlc.intuit.com/community/investing/discussion/royal-caribbean-vs-carnival-cruise/01/1314113#M403 <P>I have a question regarding the ability of those companies to survive the next 2 years assuming their cash from operation (CFO) will be very anemic.</P><P>&nbsp;</P><P>I have checked both Royal and Carnival cruise recent annual reports. both of them will need to borrow more next year assuming CFO will cut by 50%.both of them most probably will cut dividends dramatically and will buy fewer shares back. on top of that, both will most likely reduce their capital expenditures (CAPEX).</P><P>so they are about to take similar action to survive next year, but until now I see only Royal Caribbean reacts by approaching to increase their line of credit in case of need and announcing they will reduce their CAPEX and operating expenses next year.</P><P>&nbsp;</P><P>the question is, why people talk about&nbsp; Royal cruise as a company that might bankrupt but nobody says the same about Carnival cruise?</P><P>&nbsp;</P><P>thnx.</P><P>&nbsp;</P><P>&nbsp;</P> Fri, 13 Mar 2020 23:43:03 GMT https://ttlc.intuit.com/community/investing/discussion/royal-caribbean-vs-carnival-cruise/01/1314113#M403 LTI 2020-03-13T23:43:03Z Does the Wash Rule apply if my wife buys the same stock in her personal brokerage account? https://ttlc.intuit.com/community/investing/discussion/does-the-wash-rule-apply-if-my-wife-buys-the-same-stock-in-her-personal-brokerage-account/01/1301703#M399 <P>I held stock for less than 30 days in my personal brokerage account for which I sold and incurred a loss.&nbsp; I sold my entire position in this stock, all of which was held less than 30 days.&nbsp; If my wife buys the same stock within 30 days in her own brokerage account will the wash rule apply?&nbsp; We file a joint tax return.</P> Tue, 10 Mar 2020 21:31:06 GMT https://ttlc.intuit.com/community/investing/discussion/does-the-wash-rule-apply-if-my-wife-buys-the-same-stock-in-her-personal-brokerage-account/01/1301703#M399 Hubby 2020-03-10T21:31:06Z IRA withdrawels to a 529 https://ttlc.intuit.com/community/investing/discussion/ira-withdrawels-to-a-529/01/1301021#M397 <P>IS an IRA withdrawal that goes directly to one or more 529 accounts considered to be taxable? if not, how does it get reflected In turbo tax?</P> Tue, 10 Mar 2020 19:18:41 GMT https://ttlc.intuit.com/community/investing/discussion/ira-withdrawels-to-a-529/01/1301021#M397 jdunkleb 2020-03-10T19:18:41Z investment https://ttlc.intuit.com/community/investing/discussion/investment/01/1300596#M394 <P>I have investment interest deduction for loan on raw land for speculation that keeps rolling&nbsp;to the next year.&nbsp; I also sell stocks each year in a company which&nbsp;gives&nbsp;me a capital gain.&nbsp; Your help button says that I can not do&nbsp;capital gain and use the interest to off set the gain.&nbsp; It also says&nbsp;Quick Books will ask me if I wish to do that.&nbsp; It does not ask me. &nbsp;I would like to use up some of this &nbsp;built up investment interest to off set these gains. Thanks</P> Tue, 10 Mar 2020 17:53:46 GMT https://ttlc.intuit.com/community/investing/discussion/investment/01/1300596#M394 BJ29KEEUYLGG4U 2020-03-10T17:53:46Z Capital Loss Carry Forward under $3000 https://ttlc.intuit.com/community/investing/discussion/capital-loss-carry-forward-under-3000/01/1300480#M393 <P>I started investing&nbsp;in 2018&nbsp;in taxable accounts.&nbsp; I got an amended statement from my broker after I filed my 2018 taxes that showed a small capital loss for 2018 (~ $800).&nbsp; Can I carry that loss forward and offset any capital gains in 2019 or is it lost forever (or do I need to file an amended return for 2018)?</P> Tue, 10 Mar 2020 17:31:55 GMT https://ttlc.intuit.com/community/investing/discussion/capital-loss-carry-forward-under-3000/01/1300480#M393 JDW_7 2020-03-10T17:31:55Z Merger with Cash and Stock Received https://ttlc.intuit.com/community/investing/discussion/merger-with-cash-and-stock-received/01/1282899#M388 <P>Bristol Myers Squibb acquired Celgene in November 2019. I'm not sure how to reflect the&nbsp; information on the 1099 and 1009 B by brokerage provided. I owned 320 Celgene shares on the date of the merger, 11/22/19 and the same number afterward. For each share of Celgene I received one share of Bristol Myers Squibb and $50 in cash for each share.</P><P>&nbsp;</P><P>The market value of the Celgene stock was $34,569 according to my October statement (320 shares @ rate&nbsp; x 108.03). In November after the sale I had the same amount of shares, 320 @ $53.40 for a market value of 18,220.80).&nbsp; I received $16,000 in cash.</P><P>&nbsp;</P><P>How would this be characterized for tax purposes? My brokerage showed on the 1099B:</P><P>&nbsp;</P><P>320 shares sold/disposed on 11/21/19</P><P>Proceeds reported 34,787.20</P><P>date acquired: various</P><P>Cost basis: $4,117.85 (before the merger)</P><P>Gain or loss: 30,669.35</P><P>There is a notation on the 1099: “MERGER”</P><P>&nbsp;</P><P>The amount of stock (shares) I ended up with after the merger is the same but the market value declined.&nbsp; The cost basis <EM>after</EM> the merger was $17,888.&nbsp; I did receive cash in the amount of $16K.</P><P>&nbsp;</P><P>I received a higher percentage of stock than $ from the merger.&nbsp;</P><P>&nbsp;</P><P>Is this a taxable event?&nbsp; If so, how do I enter it in Turbotax?&nbsp;</P> Fri, 06 Mar 2020 18:24:23 GMT https://ttlc.intuit.com/community/investing/discussion/merger-with-cash-and-stock-received/01/1282899#M388 sjt67 2020-03-06T18:24:23Z Problem with my IRA listing https://ttlc.intuit.com/community/investing/discussion/problem-with-my-ira-listing/01/1282516#M386 <P>My BofA 1099-R shows $36783.89 as gross distribution and Taxable the same. They withdrew $4139.15 as normal required annual required withdrawal. I with drew the remaining 32,644.74 and deposited it into Midfirst bank into new IRA account. How do I show thios on my premier tax program?</P> Fri, 06 Mar 2020 17:17:53 GMT https://ttlc.intuit.com/community/investing/discussion/problem-with-my-ira-listing/01/1282516#M386 byronkay 2020-03-06T17:17:53Z Investment expenses https://ttlc.intuit.com/community/investing/discussion/investment-expenses/01/1251838#M380 <P>My wife and I traveled to Texas and Nevada to look for investment property/house.&nbsp; What can I deduct from our 2019 taxes?&nbsp; What form do I use? &nbsp;</P><P>We incurred costs for:</P><P>Hotel</P><P>Meals</P><P>Rental car and gas</P><P>Airfare</P><P>Mileage using our personal car</P> Sat, 29 Feb 2020 20:39:04 GMT https://ttlc.intuit.com/community/investing/discussion/investment-expenses/01/1251838#M380 1charlesrink 2020-02-29T20:39:04Z How do I fully deduct Investment Interest Expense? https://ttlc.intuit.com/community/investing/discussion/how-do-i-fully-deduct-investment-interest-expense/01/1250824#M376 <P>In prior years I have been able to fully deduct investment interest. All of the interest is for investments and the amount of interest paid is less than my dividend income. I don't see the place where I can elect to deduct the full amount of interest, instead of rolling it forward into future years.&nbsp; Please let me know.</P> Sat, 29 Feb 2020 15:22:24 GMT https://ttlc.intuit.com/community/investing/discussion/how-do-i-fully-deduct-investment-interest-expense/01/1250824#M376 gianni 2020-02-29T15:22:24Z Credit card https://ttlc.intuit.com/community/investing/discussion/credit-card/01/1245684#M372 <P>Hi I wanted to ask . I have a credit card bill due and I am really low on funds would it be a good idea if I pulled from my 401 k or any of my investments?</P> Fri, 28 Feb 2020 00:04:12 GMT https://ttlc.intuit.com/community/investing/discussion/credit-card/01/1245684#M372 Segova6fitty 2020-02-28T00:04:12Z Crypto currency airdrop https://ttlc.intuit.com/community/investing/discussion/crypto-currency-airdrop/01/1230573#M367 <P>Where can I enter airdrop crypto currencies? I have got those from coinbase earn.&nbsp;</P><P>&nbsp;</P><P>Thank you,&nbsp;</P> Tue, 25 Feb 2020 22:42:50 GMT https://ttlc.intuit.com/community/investing/discussion/crypto-currency-airdrop/01/1230573#M367 ahmadwasfi1 2020-02-25T22:42:50Z Cost Basis left over in a Death Benefit payout https://ttlc.intuit.com/community/investing/discussion/cost-basis-left-over-in-a-death-benefit-payout/01/1226504#M364 <P>I received a death benefit from my father in 2019.&nbsp; When I started my taxes I found the original 1099-R was incorrect.&nbsp; I received the new 1099-R yesterday with a letter attached stating the following:</P><P>&nbsp;</P><P>"There was $XX,XXX.XX of COST BASIS left in this contract.&nbsp; According to Internal Revenue Code Section 72(b) (3), you as beneficiary may take a deduction on your income tax return Form 1040, Schedule A for the remaining investment in the contract."</P><P>&nbsp;</P><P>I researched this wording in Turbo Tax, Help Discussions, Etc. and found nothing relating to this situation.&nbsp; Can someone assist me on where I should input this information on my tax return?&nbsp; Or does it go on my return, or should I contact the Payer back and have that balance transferred to my checking account?</P> Tue, 25 Feb 2020 13:53:04 GMT https://ttlc.intuit.com/community/investing/discussion/cost-basis-left-over-in-a-death-benefit-payout/01/1226504#M364 pdfbearindy06 2020-02-25T13:53:04Z logging in. to use it says to upgrade fire or google chrome but I cant. https://ttlc.intuit.com/community/investing/discussion/logging-in-to-use-it-says-to-upgrade-fire-or-google-chrome-but-i-cant/01/1223682#M363 Mon, 24 Feb 2020 23:44:09 GMT https://ttlc.intuit.com/community/investing/discussion/logging-in-to-use-it-says-to-upgrade-fire-or-google-chrome-but-i-cant/01/1223682#M363 lmp4 2020-02-24T23:44:09Z Cryptocurrency filing, please help! https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-filing-please-help/01/1220666#M360 <P>Hello,&nbsp;</P><P>I bought, traded, and sold cryptocurrencies in 2019.&nbsp;</P><P>I typed my trade info and also imported CSV files on to TurboTax.com</P><P>However, in the review section, a strange form keeps showing up.&nbsp;</P><P>I don't know what to type here, and even after type number, the same form keeps showing up.</P><P>What should I do?</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Untitled-1.jpg" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/5129i6B142A01EF2F88A7/image-size/large?v=1.0&amp;px=999" role="button" title="Untitled-1.jpg" alt="Untitled-1.jpg" /></span></P> Mon, 24 Feb 2020 17:47:59 GMT https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-filing-please-help/01/1220666#M360 kmjgoon 2020-02-24T17:47:59Z COST BASIS AFTER A SPLIT https://ttlc.intuit.com/community/investing/discussion/cost-basis-after-a-split/01/1213286#M357 <P>I PURCHASED 200 SHARES OF STOCK XYZ IN 1996 AT $25/SHARE&nbsp; ALL DIVIDENDS WERE REINVESTED.&nbsp; A STOCK SPLIT 2-FOR-1 OCCURRED IN 1999 DOUBLING SHARES TO 400.&nbsp; IF I SOLD 100 SHARE IN 2019 AT $100/SHARE, WHAT IS MY COST BASIS?</P> Sun, 23 Feb 2020 14:16:13 GMT https://ttlc.intuit.com/community/investing/discussion/cost-basis-after-a-split/01/1213286#M357 tezam1 2020-02-23T14:16:13Z TurboTax 2019 crypto currency airdrop reporting https://ttlc.intuit.com/community/investing/discussion/turbotax-2019-crypto-currency-airdrop-reporting/01/1215989#M356 <P>I can't figure out where to report as income the airdrops I've received. TT 2019 Premier Windows Desktop version.</P> Sun, 23 Feb 2020 22:26:53 GMT https://ttlc.intuit.com/community/investing/discussion/turbotax-2019-crypto-currency-airdrop-reporting/01/1215989#M356 jnpcarole 2020-02-23T22:26:53Z Data limit for entering 1099-B data set at 9,999,999.99 https://ttlc.intuit.com/community/investing/discussion/data-limit-for-entering-1099-b-data-set-at-9-999-999-99/01/1213615#M354 <P>What is a workaround for this limit?</P> Sun, 23 Feb 2020 15:33:54 GMT https://ttlc.intuit.com/community/investing/discussion/data-limit-for-entering-1099-b-data-set-at-9-999-999-99/01/1213615#M354 Danb63005 2020-02-23T15:33:54Z Second Home Purchase https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351 <P>We purchased an investment home in January 2019 and sold it in December 2019. How am I to proceed with reporting this on my taxes. I was told that it would be considered as income because we owned it for less then&nbsp;one year. We did not live in the house and or rent it out.</P><P>&nbsp;</P><P>I am looking for advise as to now to move forward with my tax prep.</P> Fri, 21 Feb 2020 22:54:03 GMT https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351 msloan777 2020-02-21T22:54:03Z Stocks https://ttlc.intuit.com/community/investing/discussion/stocks/01/1193163#M350 <P>I would like to learn more on stocks and investing. Where is the best place to start?&nbsp;</P> Thu, 20 Feb 2020 16:17:19 GMT https://ttlc.intuit.com/community/investing/discussion/stocks/01/1193163#M350 Anapples 2020-02-20T16:17:19Z Real estate https://ttlc.intuit.com/community/investing/discussion/real-estate/01/1180436#M346 <P>My current wife purchased land in Nevada in 1981 for $8000. 00. We got married in 1987. With financing etc we spend a total of $13,956.&nbsp; After all the years of paying taxes, we finally sold the property&nbsp; for $1327.00.</P><P>Can we claim the substantial loss or any of it by using it against our capital gains or however.</P><P>Thanks.</P> Tue, 18 Feb 2020 20:00:27 GMT https://ttlc.intuit.com/community/investing/discussion/real-estate/01/1180436#M346 Johan Bemelen 2020-02-18T20:00:27Z Engineering Firm stock sales https://ttlc.intuit.com/community/investing/discussion/engineering-firm-stock-sales/01/1177898#M344 <P>I was a partner at an engineering firm and decided to leave that company. When I left I sold all of my shares back to the company. We created a Buy/Sell agreement where they agreed to purchase my shares for the set year value and pay off any outstanding debt I had on shares. So they payments was the value of the shares minus the debt. The money is being given to me over 4 years with the first payment happening in 2019 when I left. How do I report this since it was capital gains? Do I report as a stock sale as if the full payment happened or do I report it as installment payments?</P> Tue, 18 Feb 2020 15:05:55 GMT https://ttlc.intuit.com/community/investing/discussion/engineering-firm-stock-sales/01/1177898#M344 Need_Help81 2020-02-18T15:05:55Z Turbotax Premier Roth IRA contribution question https://ttlc.intuit.com/community/investing/discussion/turbotax-premier-roth-ira-contribution-question/01/1170303#M341 <P>This is my first year using TT.&nbsp; I am subject to AMT and have a AMT Credit Carryforward.&nbsp; I opened a ROTH IRA in 2020 and made a $7,000 contributions for 2019 and 2020.&nbsp; My (M)AGI for regular tax and my AMT taxable income (not even sure if there is an AMT rule for Roth contributions) are both below the income thresholds for my age (&gt;than 50 yrs) and filing status (married).&nbsp; When I completed the IRA contribution section in TT, the software calculated a $420 penalty for an excess contribution.&nbsp; I had to remove the entire $7,000 contribution in 2019 to remove the penalty.&nbsp; Any ideas what is creating this problem?</P> Mon, 17 Feb 2020 14:22:15 GMT https://ttlc.intuit.com/community/investing/discussion/turbotax-premier-roth-ira-contribution-question/01/1170303#M341 brinkley2013 2020-02-17T14:22:15Z RSUs and E*TRADE Stock Plan Supplement https://ttlc.intuit.com/community/investing/discussion/rsus-and-e-trade-stock-plan-supplement/01/1166866#M340 <P>This is the first year that I have received a supplement from E*TRADE with transactions on it. My 1099-B shows a $0 cost basis for my RSUs that I sold this year. The Supplement shows a different cost basis, and it changes the tax due, it seems.</P><P>&nbsp;</P><P>I work at Apple, if that helps answer the question. There does not seem to be a solid answer on if you use the adjusted cost basis in TurboTax to properly file.</P><P>&nbsp;</P><P>Any help would be appreciated.</P> Sun, 16 Feb 2020 21:18:48 GMT https://ttlc.intuit.com/community/investing/discussion/rsus-and-e-trade-stock-plan-supplement/01/1166866#M340 ichrisp 2020-02-16T21:18:48Z My wife has a Deferred Comp plan at work. The retirement plan in box 13 of her W-2 is not checked. Does that mean she is not covered by her employer so we can invest in an IRA with pre tax dollars? https://ttlc.intuit.com/community/investing/discussion/my-wife-has-a-deferred-comp-plan-at-work-the-retirement-plan-in-box-13-of-her-w-2-is-not-checked/01/1159579#M334 Sat, 15 Feb 2020 17:26:00 GMT https://ttlc.intuit.com/community/investing/discussion/my-wife-has-a-deferred-comp-plan-at-work-the-retirement-plan-in-box-13-of-her-w-2-is-not-checked/01/1159579#M334 jepoulsen 2020-02-15T17:26:00Z RothIRA https://ttlc.intuit.com/community/investing/discussion/rothira/01/1156077#M331 <P>If I am only putting $600 a year into my Roth IRA why am I being penalized?</P> Fri, 14 Feb 2020 22:32:17 GMT https://ttlc.intuit.com/community/investing/discussion/rothira/01/1156077#M331 3mojeebs 2020-02-14T22:32:17Z E Trade https://ttlc.intuit.com/community/investing/discussion/e-trade/01/1154801#M330 <P>The 1099s are in at E Trade. TT will not allow me to import that because of a hard coded date in TT that says 2-17. What's up with hard coding the data? It's either there on not. Is this COBOL batch?</P> Fri, 14 Feb 2020 19:40:42 GMT https://ttlc.intuit.com/community/investing/discussion/e-trade/01/1154801#M330 golfotter 2020-02-14T19:40:42Z How to report capital loss without 1099 https://ttlc.intuit.com/community/investing/discussion/how-to-report-capital-loss-without-1099/01/1147910#M328 <P>Four years ago, I purchased $5,000 worth of series A preferred shares in a start up that was doing grassroots fundraising. That company has now dissolved and I need to report the $5,000 as a capital loss. The company did NOT issue a 1099. Where do I record this in Turbo Tax?</P> Thu, 13 Feb 2020 17:34:37 GMT https://ttlc.intuit.com/community/investing/discussion/how-to-report-capital-loss-without-1099/01/1147910#M328 jgiovetti 2020-02-13T17:34:37Z Buying and using crypto currency https://ttlc.intuit.com/community/investing/discussion/buying-and-using-crypto-currency/01/1146463#M327 <P>I am wondering how would I go about buying crypto currency (ex. Bitcoin) and then using it to buy let’s say a pizza. Say I bought 20 dollars worth of bitcoin to start with and the pizza costed 10 dollars. How would I report that on my taxes or what would I need to record in order to report that.&nbsp;</P> Thu, 13 Feb 2020 12:26:47 GMT https://ttlc.intuit.com/community/investing/discussion/buying-and-using-crypto-currency/01/1146463#M327 Frobwer 2020-02-13T12:26:47Z real estate investment https://ttlc.intuit.com/community/investing/discussion/real-estate-investment/01/1099524#M321 <P>I signed a contract for what was to be a rental property in 2004, the builder sold my lot to another builder and in 2005 I signed another contract with the new builder for $270000.00 and payed $89000 of that up front for the lot.&nbsp; In 2006 the original developer of the project declared bankruptcy and all building was put on hold.&nbsp; The builder I signed a contract with did not declare bankruptcy and as he owned many of the lots&nbsp; he became active in resolving the problems.&nbsp; The bankruptcy was resolved in 2015 but the builder refused to build the home stating he was no longer in the building business.&nbsp;&nbsp; I decided to just sell the lot in 2018 as i was tired of paying taxes and homeowner dues with no house in sight.&nbsp; I sold it for approximately what I paid for it.&nbsp; My question is how do I declare it or do I?&nbsp; with the original price of 270000, I have a loss, but the house was never built.</P> Thu, 06 Feb 2020 19:11:20 GMT https://ttlc.intuit.com/community/investing/discussion/real-estate-investment/01/1099524#M321 Momziggy 2020-02-06T19:11:20Z Backdoor Roth IRA - Conversion and Contribution Help Need https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-ira-conversion-and-contribution-help-need/01/1071979#M320 <P>Hello,</P><P>Would like to seek some advice for those who may have gone down this path before.&nbsp; I am late to the game of finding out about the "backdoor Roth IRA" and would like to know what is the best way to approach and get started.&nbsp; Here is my situation.</P><P>&nbsp;</P><P>- Existing Rollover IRA - From previous employer 401k plans.&nbsp; Insignificant balance of about $10k.</P><P>- Existing Roth IRA&nbsp;</P><P>- Newly created Traditional IRA</P><P>- I am above the standard Roth IRA contribution limit, hence looking at the backdoor Roth IRA</P><P>- Presume I am at a tax bracket where the $10k would not push me into another tax bracket (irrelevant for me)</P><P>&nbsp;</P><P>It is now January 2020, I would like to ideally fund before April so that I can make a $6k contribution for 2019 as well as an additional $6k contribution for 2020.&nbsp; What would be the best way to structure and get started with my back door Roth IRA?</P><P>&nbsp;</P><P>I am wondering if the possible is doable:</P><P>&nbsp;</P><P>1) Perform a complete conversion of all $10k in my Rollover IRA to my Roth IRA.&nbsp; As this conversion will be done in 2020, it will hit my 2020 taxes, and I will look to pay taxes on the full $10k at my income tax bracket.</P><P>2) Contribute $6k for 2019.&nbsp; Subsequently transfer and "convert" to Roth IRA.&nbsp; I plan on filing this contribution as "non-deductible", and hence hope I do not have to pay any further tax on this "after-tax" $6k upon conversion to Roth IRA.</P><P>3) Contribute $6k for 2020.&nbsp; Subsequently transfer and "convert" to Roth IRA.&nbsp; Similarly, I also plan on filing as "non-deductible and convert the full $6k to Roth IRA.</P><P>&nbsp;</P><P>Does #2 and #3 trigger any additional tax liabilities/complications for me?&nbsp; Would technically funding for 2019 now trigger the "pro-rata" rule as I technically held the Rollover IRA in 2019?&nbsp; How best to approach if there's another way?</P><P>&nbsp;</P><P>Thanks in advance!</P> Mon, 03 Feb 2020 13:52:39 GMT https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-ira-conversion-and-contribution-help-need/01/1071979#M320 zzzvt123 2020-02-03T13:52:39Z Why am I being forced to purchase TurboTax Premier? https://ttlc.intuit.com/community/investing/discussion/why-am-i-being-forced-to-purchase-turbotax-premier/01/1066021#M313 <P>So for one extra form, I am being forced to purchase Premier that cost more than what I made from selling my stocks? How is this fair? Now I understand why people dislike Turbo so much and why you all fight so hard to make filing taxes impossible for the common man. I just want to be able to manually enter my 1099-B form without being forced to pay $70 for "help" I DO NOT need.</P> Sun, 02 Feb 2020 14:42:02 GMT https://ttlc.intuit.com/community/investing/discussion/why-am-i-being-forced-to-purchase-turbotax-premier/01/1066021#M313 Miguel0514 2020-02-02T14:42:02Z Entering IRA Rollover Amount https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309 <P>I had a poorly performing IRA Account and did 2 things with it in 2019.</P><P>&nbsp;</P><P>First, I moved $200,000 of it to a different investment vehicle (qualified) in a company-to-company transfer. I closed out the account a few weeks later and put 17,000 of the final 22,000 into&nbsp; IRA money market fund.</P><P>&nbsp;</P><P>I don't know how to enter the 17,000 deposit into Turbo Tax. I tried entering it as though it was a new IRA, but it told me (since I am retired) that it exceeded my earned income and chagres me tax and penalties.</P><P>&nbsp;</P><P>Help, please</P> Fri, 31 Jan 2020 21:08:04 GMT https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309 MacCookie 2020-01-31T21:08:04Z Solar ITC (investment tax credit) https://ttlc.intuit.com/community/investing/discussion/solar-itc-investment-tax-credit/01/1032891#M306 <P>Hi, in 2019 we installed solar panels. Cost $30K. ITC $9K. I paid my yearly tax liability through pay check deductions. Without the ITC I get a refund since I make additional Federal tax payments every month. I never owe taxes. My fed refunds go from $3K-$5K. How will the ITC of $9K be applied in 2019?&nbsp;</P><P>Will the $9K be applied to my 2019 tax liability and then I will get a refund of all the taxes I paid through my pay check? I'm a little clueless. Thanks.</P> Tue, 28 Jan 2020 21:53:27 GMT https://ttlc.intuit.com/community/investing/discussion/solar-itc-investment-tax-credit/01/1032891#M306 vergaraa2 2020-01-28T21:53:27Z 30 days Wash-Sale Rule https://ttlc.intuit.com/community/investing/discussion/30-days-wash-sale-rule/01/993831#M281 <P>Are the 30 days that trigger wash-sale rule 30 Business days or weekends are included.</P><P>&nbsp;</P><P>Thanks</P> Mon, 20 Jan 2020 17:14:22 GMT https://ttlc.intuit.com/community/investing/discussion/30-days-wash-sale-rule/01/993831#M281 Zagros 2020-01-20T17:14:22Z Forfeit of 16k in incentive stock options https://ttlc.intuit.com/community/investing/discussion/forfeit-of-16k-in-incentive-stock-options/01/972816#M275 <P>Hi,</P><P>I was awarded 16k in ISOs.&nbsp; I was not able to exercise them until after a certain number of years of employment.&nbsp; However, I was laid off and I was told I lost them.&nbsp;&nbsp;Can the loss be written off in some way?</P> Fri, 03 Jan 2020 02:45:54 GMT https://ttlc.intuit.com/community/investing/discussion/forfeit-of-16k-in-incentive-stock-options/01/972816#M275 Neta160 2020-01-03T02:45:54Z rental depreciation https://ttlc.intuit.com/community/investing/discussion/rental-depreciation/01/972412#M273 <P>I am considering moving my tax prep from an accountant to TurboTax.&nbsp; I rent out an apartment in my house and the apartment was renovated a few years back. Will TurboTax pick up any depreciation that my accountant has been calculating?</P><P>&nbsp;</P><P>Thanks</P> Thu, 02 Jan 2020 16:42:22 GMT https://ttlc.intuit.com/community/investing/discussion/rental-depreciation/01/972412#M273 prolewicz 2020-01-02T16:42:22Z HELOC interest on loan used to invest in LLC I work for https://ttlc.intuit.com/community/investing/discussion/heloc-interest-on-loan-used-to-invest-in-llc-i-work-for/01/972547#M265 <P>I am thinking of using the proceeds from a HELOC to invest in an LLC I work for.&nbsp; Would the interest paid on the HELOC be deductible?</P> Thu, 02 Jan 2020 19:09:52 GMT https://ttlc.intuit.com/community/investing/discussion/heloc-interest-on-loan-used-to-invest-in-llc-i-work-for/01/972547#M265 mlongley 2020-01-02T19:09:52Z What’s my first step https://ttlc.intuit.com/community/investing/discussion/what-s-my-first-step/01/967280#M255 <P>Hello ttlc,</P><P>while my spare savings accumulated just 4000 dollars I would like to know what would my next advise source be? I have the whole amount ready to invest with utmost confidence in my working capabilities. What are my next step to investing in companies such as Chevrolet or Cadillac...?</P> Thu, 19 Dec 2019 04:45:43 GMT https://ttlc.intuit.com/community/investing/discussion/what-s-my-first-step/01/967280#M255 jafarz 2019-12-19T04:45:43Z Roth IRA excess contributions https://ttlc.intuit.com/community/investing/discussion/roth-ira-excess-contributions/01/965690#M246 <P>Hello,</P><P>&nbsp;</P><P>I made the mistake of contributing to my wife's and my Roth IRA accounts in 2018 and then subsequently filing separately to reduce her student loan repayment (she should qualify for PSLF in another 5 years). I did not realize at the time that filing separately changed the Roth IRA limits. It is obviously too late to withdraw the excess and avoid a penalty (I believe that window closed on Oct 15th 2019?).</P><P>&nbsp;</P><P>Can someone explain exactly what I need to do now to withdraw the excess contributions and how to alert the IRS to this withdrawal.&nbsp;</P><P>&nbsp;</P><P>Also - am I correct in understanding that I could have contributed the same amount to a trad IRA and then immediately re-characterized the contribution to a Roth IRA?&nbsp; and if so would I be able to do that going forward and essentially make the same contributions as in 2018 without a penalty? (and if so, isn't this ridiculous? Perhaps I have misunderstood the rules for re-characterizing).</P><P>&nbsp;</P><P>Many thanks!</P> Sun, 15 Dec 2019 17:22:53 GMT https://ttlc.intuit.com/community/investing/discussion/roth-ira-excess-contributions/01/965690#M246 ytt 2019-12-15T17:22:53Z Cannabis https://ttlc.intuit.com/community/investing/discussion/cannabis/01/960288#M244 <P>I am from a state that hasn't legalize marijuana. Is it possible that I can invest in this business?&nbsp;</P> Tue, 03 Dec 2019 09:07:23 GMT https://ttlc.intuit.com/community/investing/discussion/cannabis/01/960288#M244 Curtis777_ 2019-12-03T09:07:23Z Qualified Opportunity Funds and Deferred Capital Gains https://ttlc.intuit.com/community/investing/discussion/qualified-opportunity-funds-and-deferred-capital-gains/01/956903#M237 <P><SPAN>I'm interested to learn more about the benefits of reinvesting capital gains into a QOF, as well as the timeframe to reinvestment into a QOF from gains having been realized - must it all be done in the same year, or is there something comparable to 1031 timing?&nbsp; Also, what info from my K-1s will allow me to determine with precision the extent of my capital gain, as opposed to other distributions received from the investment. Thanks. &nbsp;</SPAN></P> Thu, 21 Nov 2019 15:46:56 GMT https://ttlc.intuit.com/community/investing/discussion/qualified-opportunity-funds-and-deferred-capital-gains/01/956903#M237 Curious One 2019-11-21T15:46:56Z Master Limited Partnerships & Form 990-T https://ttlc.intuit.com/community/investing/discussion/master-limited-partnerships-form-990-t/01/869433#M227 Fri, 18 Oct 2019 18:28:12 GMT https://ttlc.intuit.com/community/investing/discussion/master-limited-partnerships-form-990-t/01/869433#M227 perryatmsu 2019-10-18T18:28:12Z Roth IRA Losses https://ttlc.intuit.com/community/investing/discussion/roth-ira-losses/01/867572#M223 <P>Where are Roth IRA losses put in TurboTax?</P><P>&nbsp;</P> Tue, 15 Oct 2019 23:04:16 GMT https://ttlc.intuit.com/community/investing/discussion/roth-ira-losses/01/867572#M223 demar423 2019-10-15T23:04:16Z
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<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
<channel>
<title>Investing topics</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/02/215
</link>
<description>Investing topics</description>
<pubDate>Wed, 28 Oct 2020 06:15:19 GMT</pubDate>
<dc:creator>215</dc:creator>
<dc:date>2020-10-28T06:15:19Z</dc:date>
<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>
K-1, Box 13, Code W basically just says "FROM PASSTHROUGH"
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/k-1-box-13-code-w-basically-just-says-from-passthrough/01/1725169#M593
</link>
<description>
<P>I have three K-1's from passive activity investments that all have Box 13, Code W amounts and the descriptions are kind of similar:</P><P>&nbsp;</P><P>1. "From pass-through entities"</P><P>2. "OTHER DEDUCTIONS FROM PASSTHROUGH ENTITIES"</P><P>3. "OTHER DEDUCTIONS FROM SCHEDULE OF ACTIVITIES"<BR /><BR /></P><P>That's all they say. They don't indicate whether they're portfolio deductions or business deductions.</P><P>&nbsp;</P><P>Does anyone know whether this is portfolio deductions or if it's business deductions?</P>
</description>
<pubDate>Sat, 26 Sep 2020 23:28:18 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/k-1-box-13-code-w-basically-just-says-from-passthrough/01/1725169#M593
</guid>
<dc:creator>bananapple</dc:creator>
<dc:date>2020-09-26T23:28:18Z</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>2019 Roth IRA Excess Contribution</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/2019-roth-ira-excess-contribution/01/1720370#M575
</link>
<description>
<P>I contributed $6000 to my Roth IRA in 2019. It turns out I wasn't eligible to contribute any for 2019. I had my broker move the excess to my 2020 contribution (for which I am eligible) on Sept 10th 2020.&nbsp; My account is worth less than it was before I contributed the excess amount and my broker rolled over $5100.</P><P>&nbsp;</P><UL><LI>Do I still need to withdraw $900 to correct last year's excess contribution?</LI><LI>How does the 10% payment on earnings work? I accumulated interest and dividends since the excess contribution.<UL><LI>Do I need to pay the 10% on those despite the entire account being worth less or will I not have any penalty on earnings?</LI><LI>Does the earnings penalty only apply to earnings between the excess contribution date and the date it's corrected, the entire year or something else?</LI><LI>Or is the 10% on earnings ignored when you are paying the 6% on the excess at this point in time?</LI></UL></LI></UL>
</description>
<pubDate>Mon, 14 Sep 2020 23:12:49 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/2019-roth-ira-excess-contribution/01/1720370#M575
</guid>
<dc:creator>chris39</dc:creator>
<dc:date>2020-09-14T23:12:49Z</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>
Is it possible to complete a wash sale without ever securing a loss?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/is-it-possible-to-complete-a-wash-sale-without-ever-securing-a-loss/01/1701474#M555
</link>
<description>
<P>My brokerage has identified a wash sale in the trading of a security. The progression was as follows:</P><P>&nbsp;</P><P>1. Buy 1000 of Stock X at $2.48</P><P>2. Sell 1000 of Stock X at $2.52</P><P>3. Buy 300 of Stock X at $2.53</P><P>&nbsp;</P><P>The purchase of the 300 shares apparently generated a wash sale, even though no loss had ever been obtained. I believed this to be incorrect, so I reached out to my brokerage. They advised that wash sales occur without a loss if the average of the buys supersedes the sale price.</P><P>&nbsp;</P><P>Is that right?</P>
</description>
<pubDate>Thu, 30 Jul 2020 18:35:10 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/is-it-possible-to-complete-a-wash-sale-without-ever-securing-a-loss/01/1701474#M555
</guid>
<dc:creator>cc99283</dc:creator>
<dc:date>2020-07-30T18:35:10Z</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>find the source of a calculated number</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/find-the-source-of-a-calculated-number/01/1551759#M485
</link>
<description>
<P>How do I find the source of a calculated number in 2019 TurboTax Premier download version?</P>
</description>
<pubDate>Wed, 29 Apr 2020 23:17:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/find-the-source-of-a-calculated-number/01/1551759#M485
</guid>
<dc:creator>Andy-P</dc:creator>
<dc:date>2020-04-29T23:17:50Z</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=1.0&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>
<item>
<title>stocks converted to an annuity</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stocks-converted-to-an-annuity/01/1386416#M434
</link>
<description>
<P>I had various stocks (with one broker) which were move to an annuity (with a different broker). Do I have a tax liability? If I do, what forms do I need to fill out? &nbsp;</P>
</description>
<pubDate>Tue, 31 Mar 2020 14:27:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stocks-converted-to-an-annuity/01/1386416#M434
</guid>
<dc:creator>cm45</dc:creator>
<dc:date>2020-03-31T14:27:52Z</dc:date>
</item>
<item>
<title>I used HELCO to fund my LLC</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/i-used-helco-to-fund-my-llc/01/1384812#M432
</link>
<description>
<P>I used my HELCO to fund my LLC. My LLC invested with Borrower who made investment and returned to LLC monthly interest payments.</P><P>My LLC &nbsp;received 1099-INT from the Borrower. Should I file schedule -C and are the HELCO &nbsp;interest deductible as business expense?</P>
</description>
<pubDate>Tue, 31 Mar 2020 00:48:14 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/i-used-helco-to-fund-my-llc/01/1384812#M432
</guid>
<dc:creator>rooksck</dc:creator>
<dc:date>2020-03-31T00:48:14Z</dc:date>
</item>
<item>
<title>modified adjusted gross income for IRA</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/modified-adjusted-gross-income-for-ira/01/1359577#M422
</link>
<description>
<P>I have W-2 reported income of $78500 and IRA contributions of 4244. However TurboTax says my modified adjusted income is $131,140.&nbsp; How can this be?</P>
</description>
<pubDate>Wed, 25 Mar 2020 20:24:01 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/modified-adjusted-gross-income-for-ira/01/1359577#M422
</guid>
<dc:creator>dharbage</dc:creator>
<dc:date>2020-03-25T20:24:01Z</dc:date>
</item>
<item>
<title>
1099-B Cost Basis for stock received as gift and sold years later
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/1099-b-cost-basis-for-stock-received-as-gift-and-sold-years-later/01/1350412#M418
</link>
<description>
<P>This is a convoluted situation.&nbsp; Have never sold stock.&nbsp; The 1099-B does not have a cost basis for some of the shares involved.</P><P>On August 25, 1997, my wife received 6 shares of General Electric Company stock from her father.&nbsp; He is now long deceased.&nbsp; No record of his cost of that stock.<BR />On May 18, 1998, she gave 1 share of the stock to me and one each to our two minor children&nbsp; as custodian.<BR />She retained 3 shares in her name.&nbsp; Her stock certificate was dated May 18, 1998.<BR />On November 7, 2019, the 1 share of stock of one child no longer a minor was transferred to my wife&nbsp; due to the child's death on October 12, 2014.<BR />Linda sold her shares on August 9, 2019.<BR />Joseph sold his shares on August 9, 2019.<BR />Linda sold the shares inherited from the deceased child on November 19,2019.</P>
</description>
<pubDate>Mon, 23 Mar 2020 14:24:25 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/1099-b-cost-basis-for-stock-received-as-gift-and-sold-years-later/01/1350412#M418
</guid>
<dc:creator>JOEBARTA</dc:creator>
<dc:date>2020-03-23T14:24:25Z</dc:date>
</item>
<item>
<title>Reinvestested Div</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/reinvestested-div/01/1336057#M414
</link>
<description>
<P>I thought if you set up a DRIP in your stock account you did not get taxed each year on the dividends received?&nbsp;</P>
</description>
<pubDate>Thu, 19 Mar 2020 16:35:10 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/reinvestested-div/01/1336057#M414
</guid>
<dc:creator>mjsmith</dc:creator>
<dc:date>2020-03-19T16:35:10Z</dc:date>
</item>
<item>
<title>Taxes</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/taxes/01/1331402#M411
</link>
<description>
<P>Where enter Total Capital Distributions from Form1099-Div onto my 1040 Tase Return?</P>
</description>
<pubDate>Wed, 18 Mar 2020 15:16:57 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/taxes/01/1331402#M411
</guid>
<dc:creator>LJPurdue</dc:creator>
<dc:date>2020-03-18T15:16:57Z</dc:date>
</item>
<item>
<title>
Where/How do I enter a Return of Principal reported on a 1099-B?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/where-how-do-i-enter-a-return-of-principal-reported-on-a-1099-b/01/1320927#M408
</link>
<description>
<P>I received a Composite Statement of 1099 Forms from Raymond James &amp; Associates.&nbsp; In the 1099-B section of the statement it reported the redemption of the Guggenheim US 50 unit investment trust that I purchased in 2018 and held to maturity in 2019.&nbsp; Dividends were paid monthly and reinvested in the trust.&nbsp; There were 12 Short Term Transactions for Noncovered Lots and 2 Long Term Transactions for Noncovered Lots that I entered manually in TurboTax.</P><P>&nbsp;</P><P>There was one&nbsp; Nondetermined Term Transaction for Noncovered Lots that was identified as a Return of Principal.&nbsp; Where or how is this entered in TurboTax?&nbsp; Is a Return of Principal the same as a Return of Capital?</P><P>&nbsp;</P><P>If it is a Return of Capital, do I need to go back and adjust the cost basis of all transactions that occurred prior to 03/072019?&nbsp; Or, can I simply adjust the cost basis of my original purchase of the trust?&nbsp;</P>
</description>
<pubDate>Sun, 15 Mar 2020 21:45:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/where-how-do-i-enter-a-return-of-principal-reported-on-a-1099-b/01/1320927#M408
</guid>
<dc:creator>m-c-crockett</dc:creator>
<dc:date>2020-03-15T21:45:09Z</dc:date>
</item>
<item>
<title>Royal Caribbean VS Carnival Cruise</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/royal-caribbean-vs-carnival-cruise/01/1314113#M403
</link>
<description>
<P>I have a question regarding the ability of those companies to survive the next 2 years assuming their cash from operation (CFO) will be very anemic.</P><P>&nbsp;</P><P>I have checked both Royal and Carnival cruise recent annual reports. both of them will need to borrow more next year assuming CFO will cut by 50%.both of them most probably will cut dividends dramatically and will buy fewer shares back. on top of that, both will most likely reduce their capital expenditures (CAPEX).</P><P>so they are about to take similar action to survive next year, but until now I see only Royal Caribbean reacts by approaching to increase their line of credit in case of need and announcing they will reduce their CAPEX and operating expenses next year.</P><P>&nbsp;</P><P>the question is, why people talk about&nbsp; Royal cruise as a company that might bankrupt but nobody says the same about Carnival cruise?</P><P>&nbsp;</P><P>thnx.</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Fri, 13 Mar 2020 23:43:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/royal-caribbean-vs-carnival-cruise/01/1314113#M403
</guid>
<dc:creator>LTI</dc:creator>
<dc:date>2020-03-13T23:43:03Z</dc:date>
</item>
<item>
<title>
Does the Wash Rule apply if my wife buys the same stock in her personal brokerage account?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/does-the-wash-rule-apply-if-my-wife-buys-the-same-stock-in-her-personal-brokerage-account/01/1301703#M399
</link>
<description>
<P>I held stock for less than 30 days in my personal brokerage account for which I sold and incurred a loss.&nbsp; I sold my entire position in this stock, all of which was held less than 30 days.&nbsp; If my wife buys the same stock within 30 days in her own brokerage account will the wash rule apply?&nbsp; We file a joint tax return.</P>
</description>
<pubDate>Tue, 10 Mar 2020 21:31:06 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/does-the-wash-rule-apply-if-my-wife-buys-the-same-stock-in-her-personal-brokerage-account/01/1301703#M399
</guid>
<dc:creator>Hubby</dc:creator>
<dc:date>2020-03-10T21:31:06Z</dc:date>
</item>
<item>
<title>IRA withdrawels to a 529</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/ira-withdrawels-to-a-529/01/1301021#M397
</link>
<description>
<P>IS an IRA withdrawal that goes directly to one or more 529 accounts considered to be taxable? if not, how does it get reflected In turbo tax?</P>
</description>
<pubDate>Tue, 10 Mar 2020 19:18:41 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/ira-withdrawels-to-a-529/01/1301021#M397
</guid>
<dc:creator>jdunkleb</dc:creator>
<dc:date>2020-03-10T19:18:41Z</dc:date>
</item>
<item>
<title>investment</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/investment/01/1300596#M394
</link>
<description>
<P>I have investment interest deduction for loan on raw land for speculation that keeps rolling&nbsp;to the next year.&nbsp; I also sell stocks each year in a company which&nbsp;gives&nbsp;me a capital gain.&nbsp; Your help button says that I can not do&nbsp;capital gain and use the interest to off set the gain.&nbsp; It also says&nbsp;Quick Books will ask me if I wish to do that.&nbsp; It does not ask me. &nbsp;I would like to use up some of this &nbsp;built up investment interest to off set these gains. Thanks</P>
</description>
<pubDate>Tue, 10 Mar 2020 17:53:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/investment/01/1300596#M394
</guid>
<dc:creator>BJ29KEEUYLGG4U</dc:creator>
<dc:date>2020-03-10T17:53:46Z</dc:date>
</item>
<item>
<title>Capital Loss Carry Forward under $3000</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/capital-loss-carry-forward-under-3000/01/1300480#M393
</link>
<description>
<P>I started investing&nbsp;in 2018&nbsp;in taxable accounts.&nbsp; I got an amended statement from my broker after I filed my 2018 taxes that showed a small capital loss for 2018 (~ $800).&nbsp; Can I carry that loss forward and offset any capital gains in 2019 or is it lost forever (or do I need to file an amended return for 2018)?</P>
</description>
<pubDate>Tue, 10 Mar 2020 17:31:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/capital-loss-carry-forward-under-3000/01/1300480#M393
</guid>
<dc:creator>JDW_7</dc:creator>
<dc:date>2020-03-10T17:31:55Z</dc:date>
</item>
<item>
<title>Merger with Cash and Stock Received</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/merger-with-cash-and-stock-received/01/1282899#M388
</link>
<description>
<P>Bristol Myers Squibb acquired Celgene in November 2019. I'm not sure how to reflect the&nbsp; information on the 1099 and 1009 B by brokerage provided. I owned 320 Celgene shares on the date of the merger, 11/22/19 and the same number afterward. For each share of Celgene I received one share of Bristol Myers Squibb and $50 in cash for each share.</P><P>&nbsp;</P><P>The market value of the Celgene stock was $34,569 according to my October statement (320 shares @ rate&nbsp; x 108.03). In November after the sale I had the same amount of shares, 320 @ $53.40 for a market value of 18,220.80).&nbsp; I received $16,000 in cash.</P><P>&nbsp;</P><P>How would this be characterized for tax purposes? My brokerage showed on the 1099B:</P><P>&nbsp;</P><P>320 shares sold/disposed on 11/21/19</P><P>Proceeds reported 34,787.20</P><P>date acquired: various</P><P>Cost basis: $4,117.85 (before the merger)</P><P>Gain or loss: 30,669.35</P><P>There is a notation on the 1099: “MERGER”</P><P>&nbsp;</P><P>The amount of stock (shares) I ended up with after the merger is the same but the market value declined.&nbsp; The cost basis <EM>after</EM> the merger was $17,888.&nbsp; I did receive cash in the amount of $16K.</P><P>&nbsp;</P><P>I received a higher percentage of stock than $ from the merger.&nbsp;</P><P>&nbsp;</P><P>Is this a taxable event?&nbsp; If so, how do I enter it in Turbotax?&nbsp;</P>
</description>
<pubDate>Fri, 06 Mar 2020 18:24:23 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/merger-with-cash-and-stock-received/01/1282899#M388
</guid>
<dc:creator>sjt67</dc:creator>
<dc:date>2020-03-06T18:24:23Z</dc:date>
</item>
<item>
<title>Problem with my IRA listing</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/problem-with-my-ira-listing/01/1282516#M386
</link>
<description>
<P>My BofA 1099-R shows $36783.89 as gross distribution and Taxable the same. They withdrew $4139.15 as normal required annual required withdrawal. I with drew the remaining 32,644.74 and deposited it into Midfirst bank into new IRA account. How do I show thios on my premier tax program?</P>
</description>
<pubDate>Fri, 06 Mar 2020 17:17:53 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/problem-with-my-ira-listing/01/1282516#M386
</guid>
<dc:creator>byronkay</dc:creator>
<dc:date>2020-03-06T17:17:53Z</dc:date>
</item>
<item>
<title>Investment expenses</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/investment-expenses/01/1251838#M380
</link>
<description>
<P>My wife and I traveled to Texas and Nevada to look for investment property/house.&nbsp; What can I deduct from our 2019 taxes?&nbsp; What form do I use? &nbsp;</P><P>We incurred costs for:</P><P>Hotel</P><P>Meals</P><P>Rental car and gas</P><P>Airfare</P><P>Mileage using our personal car</P>
</description>
<pubDate>Sat, 29 Feb 2020 20:39:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/investment-expenses/01/1251838#M380
</guid>
<dc:creator>1charlesrink</dc:creator>
<dc:date>2020-02-29T20:39:04Z</dc:date>
</item>
<item>
<title>How do I fully deduct Investment Interest Expense?</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/how-do-i-fully-deduct-investment-interest-expense/01/1250824#M376
</link>
<description>
<P>In prior years I have been able to fully deduct investment interest. All of the interest is for investments and the amount of interest paid is less than my dividend income. I don't see the place where I can elect to deduct the full amount of interest, instead of rolling it forward into future years.&nbsp; Please let me know.</P>
</description>
<pubDate>Sat, 29 Feb 2020 15:22:24 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/how-do-i-fully-deduct-investment-interest-expense/01/1250824#M376
</guid>
<dc:creator>gianni</dc:creator>
<dc:date>2020-02-29T15:22:24Z</dc:date>
</item>
<item>
<title>Credit card</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/credit-card/01/1245684#M372
</link>
<description>
<P>Hi I wanted to ask . I have a credit card bill due and I am really low on funds would it be a good idea if I pulled from my 401 k or any of my investments?</P>
</description>
<pubDate>Fri, 28 Feb 2020 00:04:12 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/credit-card/01/1245684#M372
</guid>
<dc:creator>Segova6fitty</dc:creator>
<dc:date>2020-02-28T00:04:12Z</dc:date>
</item>
<item>
<title>Crypto currency airdrop</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/crypto-currency-airdrop/01/1230573#M367
</link>
<description>
<P>Where can I enter airdrop crypto currencies? I have got those from coinbase earn.&nbsp;</P><P>&nbsp;</P><P>Thank you,&nbsp;</P>
</description>
<pubDate>Tue, 25 Feb 2020 22:42:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/crypto-currency-airdrop/01/1230573#M367
</guid>
<dc:creator>ahmadwasfi1</dc:creator>
<dc:date>2020-02-25T22:42:50Z</dc:date>
</item>
<item>
<title>Cost Basis left over in a Death Benefit payout</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-left-over-in-a-death-benefit-payout/01/1226504#M364
</link>
<description>
<P>I received a death benefit from my father in 2019.&nbsp; When I started my taxes I found the original 1099-R was incorrect.&nbsp; I received the new 1099-R yesterday with a letter attached stating the following:</P><P>&nbsp;</P><P>"There was $XX,XXX.XX of COST BASIS left in this contract.&nbsp; According to Internal Revenue Code Section 72(b) (3), you as beneficiary may take a deduction on your income tax return Form 1040, Schedule A for the remaining investment in the contract."</P><P>&nbsp;</P><P>I researched this wording in Turbo Tax, Help Discussions, Etc. and found nothing relating to this situation.&nbsp; Can someone assist me on where I should input this information on my tax return?&nbsp; Or does it go on my return, or should I contact the Payer back and have that balance transferred to my checking account?</P>
</description>
<pubDate>Tue, 25 Feb 2020 13:53:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-left-over-in-a-death-benefit-payout/01/1226504#M364
</guid>
<dc:creator>pdfbearindy06</dc:creator>
<dc:date>2020-02-25T13:53:04Z</dc:date>
</item>
<item>
<title>
logging in. to use it says to upgrade fire or google chrome but I cant.
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/logging-in-to-use-it-says-to-upgrade-fire-or-google-chrome-but-i-cant/01/1223682#M363
</link>
<description/>
<pubDate>Mon, 24 Feb 2020 23:44:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/logging-in-to-use-it-says-to-upgrade-fire-or-google-chrome-but-i-cant/01/1223682#M363
</guid>
<dc:creator>lmp4</dc:creator>
<dc:date>2020-02-24T23:44:09Z</dc:date>
</item>
<item>
<title>Cryptocurrency filing, please help!</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-filing-please-help/01/1220666#M360
</link>
<description>
<P>Hello,&nbsp;</P><P>I bought, traded, and sold cryptocurrencies in 2019.&nbsp;</P><P>I typed my trade info and also imported CSV files on to TurboTax.com</P><P>However, in the review section, a strange form keeps showing up.&nbsp;</P><P>I don't know what to type here, and even after type number, the same form keeps showing up.</P><P>What should I do?</P><P>&nbsp;</P><P><span class="lia-inline-image-display-wrapper lia-image-align-inline" image-alt="Untitled-1.jpg" style="width: 999px;"><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/5129i6B142A01EF2F88A7/image-size/large?v=1.0&amp;px=999" role="button" title="Untitled-1.jpg" alt="Untitled-1.jpg" /></span></P>
</description>
<pubDate>Mon, 24 Feb 2020 17:47:59 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cryptocurrency-filing-please-help/01/1220666#M360
</guid>
<dc:creator>kmjgoon</dc:creator>
<dc:date>2020-02-24T17:47:59Z</dc:date>
</item>
<item>
<title>COST BASIS AFTER A SPLIT</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-after-a-split/01/1213286#M357
</link>
<description>
<P>I PURCHASED 200 SHARES OF STOCK XYZ IN 1996 AT $25/SHARE&nbsp; ALL DIVIDENDS WERE REINVESTED.&nbsp; A STOCK SPLIT 2-FOR-1 OCCURRED IN 1999 DOUBLING SHARES TO 400.&nbsp; IF I SOLD 100 SHARE IN 2019 AT $100/SHARE, WHAT IS MY COST BASIS?</P>
</description>
<pubDate>Sun, 23 Feb 2020 14:16:13 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cost-basis-after-a-split/01/1213286#M357
</guid>
<dc:creator>tezam1</dc:creator>
<dc:date>2020-02-23T14:16:13Z</dc:date>
</item>
<item>
<title>TurboTax 2019 crypto currency airdrop reporting</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/turbotax-2019-crypto-currency-airdrop-reporting/01/1215989#M356
</link>
<description>
<P>I can't figure out where to report as income the airdrops I've received. TT 2019 Premier Windows Desktop version.</P>
</description>
<pubDate>Sun, 23 Feb 2020 22:26:53 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/turbotax-2019-crypto-currency-airdrop-reporting/01/1215989#M356
</guid>
<dc:creator>jnpcarole</dc:creator>
<dc:date>2020-02-23T22:26:53Z</dc:date>
</item>
<item>
<title>
Data limit for entering 1099-B data set at 9,999,999.99
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/data-limit-for-entering-1099-b-data-set-at-9-999-999-99/01/1213615#M354
</link>
<description><P>What is a workaround for this limit?</P></description>
<pubDate>Sun, 23 Feb 2020 15:33:54 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/data-limit-for-entering-1099-b-data-set-at-9-999-999-99/01/1213615#M354
</guid>
<dc:creator>Danb63005</dc:creator>
<dc:date>2020-02-23T15:33:54Z</dc:date>
</item>
<item>
<title>Second Home Purchase</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351
</link>
<description>
<P>We purchased an investment home in January 2019 and sold it in December 2019. How am I to proceed with reporting this on my taxes. I was told that it would be considered as income because we owned it for less then&nbsp;one year. We did not live in the house and or rent it out.</P><P>&nbsp;</P><P>I am looking for advise as to now to move forward with my tax prep.</P>
</description>
<pubDate>Fri, 21 Feb 2020 22:54:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351
</guid>
<dc:creator>msloan777</dc:creator>
<dc:date>2020-02-21T22:54:03Z</dc:date>
</item>
<item>
<title>Stocks</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/stocks/01/1193163#M350
</link>
<description>
<P>I would like to learn more on stocks and investing. Where is the best place to start?&nbsp;</P>
</description>
<pubDate>Thu, 20 Feb 2020 16:17:19 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/stocks/01/1193163#M350
</guid>
<dc:creator>Anapples</dc:creator>
<dc:date>2020-02-20T16:17:19Z</dc:date>
</item>
<item>
<title>Real estate</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/real-estate/01/1180436#M346
</link>
<description>
<P>My current wife purchased land in Nevada in 1981 for $8000. 00. We got married in 1987. With financing etc we spend a total of $13,956.&nbsp; After all the years of paying taxes, we finally sold the property&nbsp; for $1327.00.</P><P>Can we claim the substantial loss or any of it by using it against our capital gains or however.</P><P>Thanks.</P>
</description>
<pubDate>Tue, 18 Feb 2020 20:00:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/real-estate/01/1180436#M346
</guid>
<dc:creator>Johan Bemelen</dc:creator>
<dc:date>2020-02-18T20:00:27Z</dc:date>
</item>
<item>
<title>Engineering Firm stock sales</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/engineering-firm-stock-sales/01/1177898#M344
</link>
<description>
<P>I was a partner at an engineering firm and decided to leave that company. When I left I sold all of my shares back to the company. We created a Buy/Sell agreement where they agreed to purchase my shares for the set year value and pay off any outstanding debt I had on shares. So they payments was the value of the shares minus the debt. The money is being given to me over 4 years with the first payment happening in 2019 when I left. How do I report this since it was capital gains? Do I report as a stock sale as if the full payment happened or do I report it as installment payments?</P>
</description>
<pubDate>Tue, 18 Feb 2020 15:05:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/engineering-firm-stock-sales/01/1177898#M344
</guid>
<dc:creator>Need_Help81</dc:creator>
<dc:date>2020-02-18T15:05:55Z</dc:date>
</item>
<item>
<title>Turbotax Premier Roth IRA contribution question</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/turbotax-premier-roth-ira-contribution-question/01/1170303#M341
</link>
<description>
<P>This is my first year using TT.&nbsp; I am subject to AMT and have a AMT Credit Carryforward.&nbsp; I opened a ROTH IRA in 2020 and made a $7,000 contributions for 2019 and 2020.&nbsp; My (M)AGI for regular tax and my AMT taxable income (not even sure if there is an AMT rule for Roth contributions) are both below the income thresholds for my age (&gt;than 50 yrs) and filing status (married).&nbsp; When I completed the IRA contribution section in TT, the software calculated a $420 penalty for an excess contribution.&nbsp; I had to remove the entire $7,000 contribution in 2019 to remove the penalty.&nbsp; Any ideas what is creating this problem?</P>
</description>
<pubDate>Mon, 17 Feb 2020 14:22:15 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/turbotax-premier-roth-ira-contribution-question/01/1170303#M341
</guid>
<dc:creator>brinkley2013</dc:creator>
<dc:date>2020-02-17T14:22:15Z</dc:date>
</item>
<item>
<title>RSUs and E*TRADE Stock Plan Supplement</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/rsus-and-e-trade-stock-plan-supplement/01/1166866#M340
</link>
<description>
<P>This is the first year that I have received a supplement from E*TRADE with transactions on it. My 1099-B shows a $0 cost basis for my RSUs that I sold this year. The Supplement shows a different cost basis, and it changes the tax due, it seems.</P><P>&nbsp;</P><P>I work at Apple, if that helps answer the question. There does not seem to be a solid answer on if you use the adjusted cost basis in TurboTax to properly file.</P><P>&nbsp;</P><P>Any help would be appreciated.</P>
</description>
<pubDate>Sun, 16 Feb 2020 21:18:48 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/rsus-and-e-trade-stock-plan-supplement/01/1166866#M340
</guid>
<dc:creator>ichrisp</dc:creator>
<dc:date>2020-02-16T21:18:48Z</dc:date>
</item>
<item>
<title>
My wife has a Deferred Comp plan at work. The retirement plan in box 13 of her W-2 is not checked. Does that mean she is not covered by her employer so we can invest in an IRA with pre tax dollars?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/my-wife-has-a-deferred-comp-plan-at-work-the-retirement-plan-in-box-13-of-her-w-2-is-not-checked/01/1159579#M334
</link>
<description/>
<pubDate>Sat, 15 Feb 2020 17:26:00 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/my-wife-has-a-deferred-comp-plan-at-work-the-retirement-plan-in-box-13-of-her-w-2-is-not-checked/01/1159579#M334
</guid>
<dc:creator>jepoulsen</dc:creator>
<dc:date>2020-02-15T17:26:00Z</dc:date>
</item>
<item>
<title>RothIRA</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/rothira/01/1156077#M331
</link>
<description>
<P>If I am only putting $600 a year into my Roth IRA why am I being penalized?</P>
</description>
<pubDate>Fri, 14 Feb 2020 22:32:17 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/rothira/01/1156077#M331
</guid>
<dc:creator>3mojeebs</dc:creator>
<dc:date>2020-02-14T22:32:17Z</dc:date>
</item>
<item>
<title>E Trade</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/e-trade/01/1154801#M330
</link>
<description>
<P>The 1099s are in at E Trade. TT will not allow me to import that because of a hard coded date in TT that says 2-17. What's up with hard coding the data? It's either there on not. Is this COBOL batch?</P>
</description>
<pubDate>Fri, 14 Feb 2020 19:40:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/e-trade/01/1154801#M330
</guid>
<dc:creator>golfotter</dc:creator>
<dc:date>2020-02-14T19:40:42Z</dc:date>
</item>
<item>
<title>How to report capital loss without 1099</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/how-to-report-capital-loss-without-1099/01/1147910#M328
</link>
<description>
<P>Four years ago, I purchased $5,000 worth of series A preferred shares in a start up that was doing grassroots fundraising. That company has now dissolved and I need to report the $5,000 as a capital loss. The company did NOT issue a 1099. Where do I record this in Turbo Tax?</P>
</description>
<pubDate>Thu, 13 Feb 2020 17:34:37 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/how-to-report-capital-loss-without-1099/01/1147910#M328
</guid>
<dc:creator>jgiovetti</dc:creator>
<dc:date>2020-02-13T17:34:37Z</dc:date>
</item>
<item>
<title>Buying and using crypto currency</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/buying-and-using-crypto-currency/01/1146463#M327
</link>
<description>
<P>I am wondering how would I go about buying crypto currency (ex. Bitcoin) and then using it to buy let’s say a pizza. Say I bought 20 dollars worth of bitcoin to start with and the pizza costed 10 dollars. How would I report that on my taxes or what would I need to record in order to report that.&nbsp;</P>
</description>
<pubDate>Thu, 13 Feb 2020 12:26:47 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/buying-and-using-crypto-currency/01/1146463#M327
</guid>
<dc:creator>Frobwer</dc:creator>
<dc:date>2020-02-13T12:26:47Z</dc:date>
</item>
<item>
<title>real estate investment</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/real-estate-investment/01/1099524#M321
</link>
<description>
<P>I signed a contract for what was to be a rental property in 2004, the builder sold my lot to another builder and in 2005 I signed another contract with the new builder for $270000.00 and payed $89000 of that up front for the lot.&nbsp; In 2006 the original developer of the project declared bankruptcy and all building was put on hold.&nbsp; The builder I signed a contract with did not declare bankruptcy and as he owned many of the lots&nbsp; he became active in resolving the problems.&nbsp; The bankruptcy was resolved in 2015 but the builder refused to build the home stating he was no longer in the building business.&nbsp;&nbsp; I decided to just sell the lot in 2018 as i was tired of paying taxes and homeowner dues with no house in sight.&nbsp; I sold it for approximately what I paid for it.&nbsp; My question is how do I declare it or do I?&nbsp; with the original price of 270000, I have a loss, but the house was never built.</P>
</description>
<pubDate>Thu, 06 Feb 2020 19:11:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/real-estate-investment/01/1099524#M321
</guid>
<dc:creator>Momziggy</dc:creator>
<dc:date>2020-02-06T19:11:20Z</dc:date>
</item>
<item>
<title>
Backdoor Roth IRA - Conversion and Contribution Help Need
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-ira-conversion-and-contribution-help-need/01/1071979#M320
</link>
<description>
<P>Hello,</P><P>Would like to seek some advice for those who may have gone down this path before.&nbsp; I am late to the game of finding out about the "backdoor Roth IRA" and would like to know what is the best way to approach and get started.&nbsp; Here is my situation.</P><P>&nbsp;</P><P>- Existing Rollover IRA - From previous employer 401k plans.&nbsp; Insignificant balance of about $10k.</P><P>- Existing Roth IRA&nbsp;</P><P>- Newly created Traditional IRA</P><P>- I am above the standard Roth IRA contribution limit, hence looking at the backdoor Roth IRA</P><P>- Presume I am at a tax bracket where the $10k would not push me into another tax bracket (irrelevant for me)</P><P>&nbsp;</P><P>It is now January 2020, I would like to ideally fund before April so that I can make a $6k contribution for 2019 as well as an additional $6k contribution for 2020.&nbsp; What would be the best way to structure and get started with my back door Roth IRA?</P><P>&nbsp;</P><P>I am wondering if the possible is doable:</P><P>&nbsp;</P><P>1) Perform a complete conversion of all $10k in my Rollover IRA to my Roth IRA.&nbsp; As this conversion will be done in 2020, it will hit my 2020 taxes, and I will look to pay taxes on the full $10k at my income tax bracket.</P><P>2) Contribute $6k for 2019.&nbsp; Subsequently transfer and "convert" to Roth IRA.&nbsp; I plan on filing this contribution as "non-deductible", and hence hope I do not have to pay any further tax on this "after-tax" $6k upon conversion to Roth IRA.</P><P>3) Contribute $6k for 2020.&nbsp; Subsequently transfer and "convert" to Roth IRA.&nbsp; Similarly, I also plan on filing as "non-deductible and convert the full $6k to Roth IRA.</P><P>&nbsp;</P><P>Does #2 and #3 trigger any additional tax liabilities/complications for me?&nbsp; Would technically funding for 2019 now trigger the "pro-rata" rule as I technically held the Rollover IRA in 2019?&nbsp; How best to approach if there's another way?</P><P>&nbsp;</P><P>Thanks in advance!</P>
</description>
<pubDate>Mon, 03 Feb 2020 13:52:39 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/backdoor-roth-ira-conversion-and-contribution-help-need/01/1071979#M320
</guid>
<dc:creator>zzzvt123</dc:creator>
<dc:date>2020-02-03T13:52:39Z</dc:date>
</item>
<item>
<title>
Why am I being forced to purchase TurboTax Premier?
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/why-am-i-being-forced-to-purchase-turbotax-premier/01/1066021#M313
</link>
<description>
<P>So for one extra form, I am being forced to purchase Premier that cost more than what I made from selling my stocks? How is this fair? Now I understand why people dislike Turbo so much and why you all fight so hard to make filing taxes impossible for the common man. I just want to be able to manually enter my 1099-B form without being forced to pay $70 for "help" I DO NOT need.</P>
</description>
<pubDate>Sun, 02 Feb 2020 14:42:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/why-am-i-being-forced-to-purchase-turbotax-premier/01/1066021#M313
</guid>
<dc:creator>Miguel0514</dc:creator>
<dc:date>2020-02-02T14:42:02Z</dc:date>
</item>
<item>
<title>Entering IRA Rollover Amount</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309
</link>
<description>
<P>I had a poorly performing IRA Account and did 2 things with it in 2019.</P><P>&nbsp;</P><P>First, I moved $200,000 of it to a different investment vehicle (qualified) in a company-to-company transfer. I closed out the account a few weeks later and put 17,000 of the final 22,000 into&nbsp; IRA money market fund.</P><P>&nbsp;</P><P>I don't know how to enter the 17,000 deposit into Turbo Tax. I tried entering it as though it was a new IRA, but it told me (since I am retired) that it exceeded my earned income and chagres me tax and penalties.</P><P>&nbsp;</P><P>Help, please</P>
</description>
<pubDate>Fri, 31 Jan 2020 21:08:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/entering-ira-rollover-amount/01/1054516#M309
</guid>
<dc:creator>MacCookie</dc:creator>
<dc:date>2020-01-31T21:08:04Z</dc:date>
</item>
<item>
<title>Solar ITC (investment tax credit)</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/solar-itc-investment-tax-credit/01/1032891#M306
</link>
<description>
<P>Hi, in 2019 we installed solar panels. Cost $30K. ITC $9K. I paid my yearly tax liability through pay check deductions. Without the ITC I get a refund since I make additional Federal tax payments every month. I never owe taxes. My fed refunds go from $3K-$5K. How will the ITC of $9K be applied in 2019?&nbsp;</P><P>Will the $9K be applied to my 2019 tax liability and then I will get a refund of all the taxes I paid through my pay check? I'm a little clueless. Thanks.</P>
</description>
<pubDate>Tue, 28 Jan 2020 21:53:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/solar-itc-investment-tax-credit/01/1032891#M306
</guid>
<dc:creator>vergaraa2</dc:creator>
<dc:date>2020-01-28T21:53:27Z</dc:date>
</item>
<item>
<title>30 days Wash-Sale Rule</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/30-days-wash-sale-rule/01/993831#M281
</link>
<description>
<P>Are the 30 days that trigger wash-sale rule 30 Business days or weekends are included.</P><P>&nbsp;</P><P>Thanks</P>
</description>
<pubDate>Mon, 20 Jan 2020 17:14:22 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/30-days-wash-sale-rule/01/993831#M281
</guid>
<dc:creator>Zagros</dc:creator>
<dc:date>2020-01-20T17:14:22Z</dc:date>
</item>
<item>
<title>Forfeit of 16k in incentive stock options</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/forfeit-of-16k-in-incentive-stock-options/01/972816#M275
</link>
<description>
<P>Hi,</P><P>I was awarded 16k in ISOs.&nbsp; I was not able to exercise them until after a certain number of years of employment.&nbsp; However, I was laid off and I was told I lost them.&nbsp;&nbsp;Can the loss be written off in some way?</P>
</description>
<pubDate>Fri, 03 Jan 2020 02:45:54 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/forfeit-of-16k-in-incentive-stock-options/01/972816#M275
</guid>
<dc:creator>Neta160</dc:creator>
<dc:date>2020-01-03T02:45:54Z</dc:date>
</item>
<item>
<title>rental depreciation</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/rental-depreciation/01/972412#M273
</link>
<description>
<P>I am considering moving my tax prep from an accountant to TurboTax.&nbsp; I rent out an apartment in my house and the apartment was renovated a few years back. Will TurboTax pick up any depreciation that my accountant has been calculating?</P><P>&nbsp;</P><P>Thanks</P>
</description>
<pubDate>Thu, 02 Jan 2020 16:42:22 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/rental-depreciation/01/972412#M273
</guid>
<dc:creator>prolewicz</dc:creator>
<dc:date>2020-01-02T16:42:22Z</dc:date>
</item>
<item>
<title>
HELOC interest on loan used to invest in LLC I work for
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/heloc-interest-on-loan-used-to-invest-in-llc-i-work-for/01/972547#M265
</link>
<description>
<P>I am thinking of using the proceeds from a HELOC to invest in an LLC I work for.&nbsp; Would the interest paid on the HELOC be deductible?</P>
</description>
<pubDate>Thu, 02 Jan 2020 19:09:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/heloc-interest-on-loan-used-to-invest-in-llc-i-work-for/01/972547#M265
</guid>
<dc:creator>mlongley</dc:creator>
<dc:date>2020-01-02T19:09:52Z</dc:date>
</item>
<item>
<title>What’s my first step</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/what-s-my-first-step/01/967280#M255
</link>
<description>
<P>Hello ttlc,</P><P>while my spare savings accumulated just 4000 dollars I would like to know what would my next advise source be? I have the whole amount ready to invest with utmost confidence in my working capabilities. What are my next step to investing in companies such as Chevrolet or Cadillac...?</P>
</description>
<pubDate>Thu, 19 Dec 2019 04:45:43 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/what-s-my-first-step/01/967280#M255
</guid>
<dc:creator>jafarz</dc:creator>
<dc:date>2019-12-19T04:45:43Z</dc:date>
</item>
<item>
<title>Roth IRA excess contributions</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-excess-contributions/01/965690#M246
</link>
<description>
<P>Hello,</P><P>&nbsp;</P><P>I made the mistake of contributing to my wife's and my Roth IRA accounts in 2018 and then subsequently filing separately to reduce her student loan repayment (she should qualify for PSLF in another 5 years). I did not realize at the time that filing separately changed the Roth IRA limits. It is obviously too late to withdraw the excess and avoid a penalty (I believe that window closed on Oct 15th 2019?).</P><P>&nbsp;</P><P>Can someone explain exactly what I need to do now to withdraw the excess contributions and how to alert the IRS to this withdrawal.&nbsp;</P><P>&nbsp;</P><P>Also - am I correct in understanding that I could have contributed the same amount to a trad IRA and then immediately re-characterized the contribution to a Roth IRA?&nbsp; and if so would I be able to do that going forward and essentially make the same contributions as in 2018 without a penalty? (and if so, isn't this ridiculous? Perhaps I have misunderstood the rules for re-characterizing).</P><P>&nbsp;</P><P>Many thanks!</P>
</description>
<pubDate>Sun, 15 Dec 2019 17:22:53 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-excess-contributions/01/965690#M246
</guid>
<dc:creator>ytt</dc:creator>
<dc:date>2019-12-15T17:22:53Z</dc:date>
</item>
<item>
<title>Cannabis</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/cannabis/01/960288#M244
</link>
<description>
<P>I am from a state that hasn't legalize marijuana. Is it possible that I can invest in this business?&nbsp;</P>
</description>
<pubDate>Tue, 03 Dec 2019 09:07:23 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/cannabis/01/960288#M244
</guid>
<dc:creator>Curtis777_</dc:creator>
<dc:date>2019-12-03T09:07:23Z</dc:date>
</item>
<item>
<title>
Qualified Opportunity Funds and Deferred Capital Gains
</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/qualified-opportunity-funds-and-deferred-capital-gains/01/956903#M237
</link>
<description>
<P><SPAN>I'm interested to learn more about the benefits of reinvesting capital gains into a QOF, as well as the timeframe to reinvestment into a QOF from gains having been realized - must it all be done in the same year, or is there something comparable to 1031 timing?&nbsp; Also, what info from my K-1s will allow me to determine with precision the extent of my capital gain, as opposed to other distributions received from the investment. Thanks. &nbsp;</SPAN></P>
</description>
<pubDate>Thu, 21 Nov 2019 15:46:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/qualified-opportunity-funds-and-deferred-capital-gains/01/956903#M237
</guid>
<dc:creator>Curious One</dc:creator>
<dc:date>2019-11-21T15:46:56Z</dc:date>
</item>
<item>
<title>Master Limited Partnerships & Form 990-T</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/master-limited-partnerships-form-990-t/01/869433#M227
</link>
<description/>
<pubDate>Fri, 18 Oct 2019 18:28:12 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/master-limited-partnerships-form-990-t/01/869433#M227
</guid>
<dc:creator>perryatmsu</dc:creator>
<dc:date>2019-10-18T18:28:12Z</dc:date>
</item>
<item>
<title>Roth IRA Losses</title>
<link>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-losses/01/867572#M223
</link>
<description>
<P>Where are Roth IRA losses put in TurboTax?</P><P>&nbsp;</P>
</description>
<pubDate>Tue, 15 Oct 2019 23:04:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/investing/discussion/roth-ira-losses/01/867572#M223
</guid>
<dc:creator>demar423</dc:creator>
<dc:date>2019-10-15T23:04:16Z</dc:date>
</item>
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