Questions tagged [united-states]

For questions that relate to the laws, practices, and products of the United States.

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1answer
617 views

Can capital losses be used to offset capital gains for California state taxes?

California treats capital gains just like normal income Suppose I have capital gains of $10k and capital losses of $8k Will this add $2k (from $10k - $8k) to my California taxable income? Or will ...
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0answers
23 views

Filling Robinhood's tax certification as a non-US Person

Country: United States I am an Indian citizen on an F-1 visa, working while on my STEM OPT (and will change to H-1B status this October 1st). I have to certify my tax status on Robinhood. They had me ...
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3answers
4k views

Is it possible to protect against investors stealing business ideas?

Think person A has a great software business idea. He also knows software programming and converts his idea to a mobile application. Then he needs to raise some money to launch the application, do ...
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2answers
86 views

Finding a list of companies on the market

I'm trying to analyze the 10-K/20-F report by comparing the revenue and growth rate with other companies. I've tried to use the S&P 500 list here, but it only contains the best companies. How can ...
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0answers
91 views

Internationally issued Visa Credit Card fraudulently used in the US, possibly because merchant bypassed card security features. What are my options?

My internationally issued credit card was stolen, along with a lot of my personal items in the US. There was also a Apple credit card issued in the US that were stolen, but the fraudulent charges were ...
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3answers
127 views

Is it financially smart for my girlfriend and I to get our own FHA loans for separate properties before marrying?

My girlfriend (22) is a nurse and I (22) am currently in my last year of undergrad for BS in Computer Science. I want to invest in real estate for the purpose of renting or using as an Airbnb to help ...
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2answers
167 views

When is the earliest I can file as a resident alien?

I came to the US in 2016 August as a F1 student and I know I am a non resident alient for the first five years. I want to know when the earliest I can file as a resident alien. Is it when I file in ...
2
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2answers
351 views

1099-Misc Box 3 income that maybe should be Box 7

As my main job, I am a college math professor (W2 wages). Last summer (2018), independent of my main employer, I worked teaching math to high school students and was paid 10K for it. I received a 1099-...
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1answer
224 views

ETF's, Capital Gains and Taxes

Suppose that an ETF (that holds stock) sells a stock at a profit. It is my understanding that profit must be distributed to the share holders as the form of a dividend. Once distributed, it would ...
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2answers
434 views

Does overpaying estimated taxes lead to loss of non-refundable tax credit?

Say: My total fed tax liability is 60K. I've made estimated payments of 65K. (keeping withholdings out of picture here for simplicity) I'll expect a tax refund of 5K. I also installed solar panels and ...
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2answers
74 views

Is the way I'm calculating depreciation on my rental property correct?

I've recently purchased an out of state rental property. I'd like to be ahead of the game and fully grasp the concept of depreciation so that when tax season comes around, I won't be clueless. I've ...
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1answer
108 views

Calculating the basis for shares of international stock mutual fund

I'm calculating the basis in connection with redeeming shares of an international stock mutual fund. The fund has paid dividends quarterly, which I reinvested. I'm reviewing the Federal 1099-DIV ...
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1answer
331 views

How not to pay taxes on covered call

I bought 100 shares of ESPO four months ago for $50 and sold a September 18 $62 covered call at Robinhood. With the stock trading at $61.50, I think that it's likely that I will be assigned. I will ...
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1answer
405 views

Taxes on an NY summer internship

I am a TN resident who will be doing a 12 week internship this summer in upstate NY. My salary is around 2.3k every two weeks. What would this be after taxes? Would my company take care of state and ...
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0answers
20 views

Will stock options continue to vest if an employee goes into State Disability Insurance (SDI)?

If an employee in a publicly traded company needs to go on SDI (to get treatment) will the employee continue to vest options (ISOs, RSUs)? Is SDI like a sabbatical from a company's perspective where ...
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0answers
56 views

Moving from UK to US - any financial tips and tricks? [closed]

I've been a UK resident (London) for the past 7 years and will be potentially moving to the US (New York) in the nearby future. If anyone has any tips and tricks to share on how to make this process ...
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0answers
84 views

Compliance issue with casino winning check

I received a check from a on-line casino from Canada. I took it to my bank to cash and they sent it to collections. After about 2 1/2 weeks they sent it back saying compliance issue. What does that ...
3
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1answer
131 views

Cross-country mileage deduction?

My situation is not common... my lifestyle... not common. Recently the company I worked for was bought out and the two "divisions" were split into 2 companies. I assisted the 2nd division on ...
3
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1answer
163 views

US stock market: How do odd lot orders get filled if they are not advertised to the public?

I recently asked Why didn't my buy limit order become the highest bid? when my odd lot (1 share) buy limit order did not appear in the public list of bids. If odd lot buy orders do not appear in ...
4
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3answers
279 views

Additional credit card with different limit on same account?

Does anyone know of a way to get another credit card for an authorized user but with a much lower credit limit? I'd like to use my existing credit card account but I don't really see a way to do this....
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0answers
27 views

Is it possible for a non-citizen nor GC holder do crowdfunding inside the US?

I am an international student in the US. I have an idea and like to launch a company on that. I know I don't have a work permission but also know I can register a company and invest in it. So can I ...
2
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1answer
50 views

Employer changing Healthcare provider during COBRA eligibility period -

I am currently on COBRA and my eligibility runs for several more months. My employer (who covers my COBRA) is changing healthcare providers. I assume they must let me continue under the new provider ...
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1answer
51 views

Last stock trades in after hours sessions of a single share that causes huge movement in price

When I sometimes scan down after hours price changes, I notice tickers where there is a single last transaction that has a huge effect on the AH price. This is not an anomaly. I see it everyday on a ...
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1answer
47 views

Can a company with a non-citizen/not green card holder board member taxed as an S-Corp?

If a company has 2 or 3 board members that one of them isn't a US citizen nor green card holder, is it possible for this company to be considered as a S-Corp in the tax season? Or at least citizen/...
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1answer
157 views

Capital Gains tax on Spanish Stock US Resident

I have two questions, I think the first will be simpler. If buy an ADR stock in say Santander or Telefonica do I have pay Spanish capital gains on the stock and file a Spanish tax return when I sell ...
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0answers
14 views

What is the meaning of "to the extent attributable to contributions" in IRS Publication 519?

In IRS Publication 519 (Tax Guide for Aliens), in a section about Personal Service Income for pensions, is the following text (emphasis mine): Pensions. If you performed personal services in the ...
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1answer
138 views

Tax loss-harvesting with Crypto

There are headlines floating around about enforcing wash sale rules for crypto capital gains and losses, this prompted me to look into tax loss-harvesting, and it turns out I don't understand it at ...
2
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2answers
361 views

Can I pay a previous quarter's estimated taxes with current quarter?

I've never done estimated taxes before and I found out today is the last day for the June 1 - August 31 period to pay estimated taxes. I went to the IRS site and saw how I can do it but there is ...
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0answers
35 views

Line 12 of 1020-S Sub-S Corp return

My accountant has fallen seriously ill, I'm sole owner and employee of a Sub-S Corp. I'm looking at my 2018 Corp Tax return at line 12, trying to figure out what I should enter there for the 2019 ...
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1answer
142 views

Stimulus not received to date

I receive SSI via direct deposit also received 2018 SSA-1099 benefit statement. To date I have not receive stimulus. I filled out pertinent info for "My Payment" on the IRS website it stated I did not ...
2
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1answer
114 views

Double taxation of US person receiving income from EU corporation

Between EU companies, money can be passed between parent and subsidiary without taxes. As a US citizen, if I own a European company and distribute earnings, I will be taxed on the earnings upon ...
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3answers
8k views

Is it ok throw away my unused checks for one of my bank accounts?

When I opened my Bank of America account years ago, I was given >50 checks. So far I've only made 2 checks. Therefore, I'd like to dispose of all my checks except for a few ones, to reduce the ...
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2answers
408 views

U.S. wash sale rules involving sells using specified lots

I'm preparing my 2017 US income taxes and have received a 1099-B from the broker in my employer-sponsored accounts that includes several short-term capital losses that are designated as wash sales. I'...
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0answers
50 views

HUD housing recertification removing someone from lease

B"H Hi I'm trying to move out of HUD housing, and the re-certification has passed and my father has signed the documents without my signature re-certifying, which is what I want because I want to ...
3
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1answer
225 views

Can I avoid gift tax by gifting only a portion of a home to a parent instead of the whole value?

I live in Washington state and my mother lives near my brother in California. I was considering purchasing a house with cash, for her to live in. The cost of the house would likely be around $600,...
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2answers
130 views

American citizen consulting for a Danish entity over 30 day period - visa/taxes?

I am an American citizen who will be consulting for a Danish entity from July1st-July 31st for a fixed project with a fixed project value. As part of this work, I will attend a workshop in Brussels ...
1
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1answer
97 views

Can an F1 student file as resident alien? (less than 5 years)

I'm a foreign student on F1. I came to the US in 2018. I stayed in the US for 350 days in 2019. I'm aware of the substantial presence test that determines whether I should file as resident alien or ...
2
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1answer
71 views

What should my state tax withholdings be? I live in VA and work remotely for a CA company

I work remotely for a company in California, but I'm a Virginia resident 100% of the time. This is my first year working for this company. Last year, I claimed 1 exemption on my VA taxes (myself). For ...
0
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1answer
62 views

Choosing Indiana Individual Income tax form for an International citizen

I am an international citizen and according to the rules specified on the IRS website at this link, I am a resident alien from 2020 (For years before this my status was non-resident alien). I lived in ...
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7answers
8k views

Can I take out a loan and pay it back immediately to avoid interest?

Ignoring why I would do so, I am wondering if it is possible to take out a personal loan (at, say, ~6% annual interest) and then pay back the principal + any interest back within a short time (within ...
15
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5answers
4k views

Why is net worth a recommended minimum for insurance coverage

My auto insurance recommends taking out a policy with a liability limit of at least my net worth. This doesn't seem intuitive to me in that the less money you have, the more a big bill is going to ...
1
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0answers
72 views

What are the tax consequences of the borrower defaulting in securities lending?

I recently agreed to lend out some of my shares to my brokerage. They deposit collateral in a bank account, and the balance is adjusted daily based on the changing value of the shares borrowed. My ...
1
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1answer
82 views

Do I pay taxes on BAT (basic attention token) when using brave wallet?

Basically the title. I'm using Brave Browser because I heard it pays you to view ads, and it does. I have 30USD worth of BAT right now. I just went through all the verification stuff in GEMINI, now it ...
2
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1answer
52 views

Paying Local Taxes in Pennsylvania when working remote for a company in a different state

I live in the state of Pennsylvania and work from home full time for a company in Virginia. I'm having my employer take out local Taxes based on where I live in Pennsylvania. Is this correct? Do I ...
0
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1answer
65 views

TNote 10yr Futures YTM vs market yield?

I understand how to calculate the yield on a 10 yr TNote based on face, price & coupon. I don’t understand why the yield (and price) on a futures contract about to expire is so different than the ...
1
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1answer
236 views

Credits, Refunds & Reimbursements made prior to April 15th for Prior Year HSA Qual Disbursements

Apr '19: I've recently worked w/ my HSA trustee/custodian (my CU) to correctly code HSA reimbursements transactions in early 2018 for HSA Qualified Distributions in 2017. Same for 2019/2018. So we ...
15
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4answers
8k views

If I sold some stock by mistake and immediately bought it back, is that sale still subject to capital gain tax in USA?

Today I wanted to buy a few shares of Apple (AAPL), let's say 10 shares. When I handled the UI, there was the "By number of shares" and "By dollar amount" and then "Market&...
2
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1answer
71 views

Is a layoff a QLE allowing one to elect different health plan offered by employer?

If one is laid off, one is allowed under Cobra to continue group based health insurance thru employer. Does the layoff count as a QLE allowing one to change health coverage if an employer offers ...
3
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1answer
168 views

Why did I receive tax penalty on paid family leave from the California tax board?

I just received a notice from California tax board that says I owe state tax on the deduction I claimed in 2017 for paid family leave. This was filed through turbotax so I assumed it was accurate. I ...
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1answer
74 views

Probate in Pennsylvania

My husband and I have named our daughter as beneficiary to all our financial accounts. After our death will she be able to get the money without probate? We live in Pennsylvania. Thanks.

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