Questions tagged [united-states]
For questions that relate to the laws, practices, and products of the United States.
1,238
questions with no upvoted or accepted answers
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Can I get a replacement credit card to overseas if I didn't activate the credit card account?
I'm overseas.
I apply for a new credit card. I already have one credit card from this bank.
My address is the address on file. US residential. There's no one there right now.
They mail the card.
I ...
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1
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Long-Term Capital Gains Tax Rate on or after Sept. 13, 2021 - Biden Plan
Under the Biden proposal the maximum capital gains are taxed would increase, from 20% to 25%. The new rate would be effective for sales that occur on or after Sept. 13, 2021.
But do the proposals ...
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207
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Why isn't my capital loss carryover reducing my tax from short-term capital gains?
I am using Turbo Tax for these calculations. Before entering my investment info/capital gains, I had a federal refund of $272. After entering my capital gains and investment info, I owed $1900, for a ...
- 174
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342
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Free E-file US taxes if spouse is non-resident alien
I have a special situation in that I am a US citizen but my spouse is a non-resident alien, and I myself also live overseas. So far I have only found that HR Block Taxes for Expats lets me e-file ...
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Question about calculating wash sales across multiple orders
How do I handle the accounting of my wash sales?
I bought AXP in 3 different orders, all purchased within 5 days of each other:
100 @ 122
100 @ 100
100 @ 76
I sold all 300 @ 102, and then ...
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52
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What kind of payments are accepted for the initial purchase of United States Treasury securities?
What kind of payments are accepted for the initial purchase of United States Treasury securities ? (not be to confused with trading done on the secondary market) When a normal person is purchasing ...
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245
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Why does New Mexico (apparently) require withholding more income than is required to cover state income tax?
New Mexico has four tax brackets, which for married filing jointly breaks down as (at least in 2019): 1.7% for $0-$8000, 3.2% for $8001-$1600, 4.7% for $1601-2401, and 4.9% for $2401 and above.
I'm ...
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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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Taxation of capital gains by USA from cryptocurrency of Russian student on an F-1 visa
I am from Russia and I currently study in the US on F-1 visa. Last year I did some cryptocurrency trading which is taxed as capital gains in the US. US-Russia tax treaty says that:
Capital gains on ...
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183
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Selling A Car Anonymously
Is it ever legal for me to sell a car to someone by just signing my name and
dating the title, such that the buyer's information is completely blank?
To be clear, the title itself is legal, clean, and ...
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283
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Tax benefits with non working spouse while on L1 visa?
I’m moving to California on an L1 visa soon. My wife will also be traveling with me. We have the following in mind:
She travels to US with me.
Applies for the EAD work permit and comes back to India.
...
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2
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153
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What is the most cost effective way to pay for taxes?
I am a US citizen employed in the US. I have recently been making quite a bit of money (knock on wood) in the stock market. In previous years, most of my money has been coming in from my salary, which ...
- 2,864
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207
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401(k) losing money, considering withdrawal to pay off mortgage
I left my job 13 years ago with $80,000 in a 401(k) plan and $500 a month pension. Two years ago the company told me that I had to get money for pension. I had already lost $45,000 of my 401(k) due ...
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Does a Tax Identification Number (TIN) provide greater safety than giving SSN?
For some years I was selling PDFs through a Web site. This Web site recently switched to using a new financial product similar to PayPal that would transfer the profits to my bank account. They ...
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129
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How to avoid interest with T+1 in the scenerio given below?
In my brokerage accounts I keep fund in ETF like VMFXX ( the brokerage does not have it as default sweep option). Currently VMFXX has T+1 settlement.
Currently suppose I have a GTC order to buy some ...
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How do I determine the division of cost basis for multiple NFTs minted in a single transaction?
I understand (I think) how to assign cost basis (for income tax) to ordinary minted NFTs: Convert the minting price (including gas, fees, etc.) in cryptocurrency to dollars using the market rate at ...
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120
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Which stock is better to sell in a falling market? The first bought or the most expensive one?
The stock market in the US has been falling with consecutive losses. What is the best stock to sell:
when everything was bought 9 months, less than a year ago?
when everything was bought more than a ...
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96
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Do you pay taxes on "phantom" transactions related to precious metal ETFs held inside a retirement account?
Precious metal ETFs (e.g. GLD) collect expenses from you by selling fractional shares on a month-by-month basis
You have to pay taxes on these sales
You have to account for fractional shares sold from ...
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32
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Company EPS differs from 10-Q and 10-K
I'm reviewing the 10-K filing of a company I'm thinking about investing in, and I came across some confusing information in my research. For FY20Q1/2/3 the EPS you can get from Fidelity, Yahoo, etc., ...
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If I own rental property, and hired a contractor in 2020, do I have to file form 1099-ENT with the IRS?
If I own rental property as a landlord, and hired a contractor in 2020, do I have to file form 1099-ENT with the IRS? By when? Is this the same as form 1099-MISC?
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Personal income tax and new company
For someone living in the US who owes personal federal income tax. Is it possible to open a new company in such a way to protect the company/financials from personal taxes owed?
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Taxation of US LLC in India
I am a non-resident of the USA, and a resident of India for tax purposes. Suppose I set up my US brokerage account as an LLC in the USA. What taxes will I owe on this account in India? What taxes will ...
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Reduce Self Employment Tax
Thanks for looking into my post.
I am an independent contractor and I don't have any LLC or company.
Currently, I am paying 26% on the self employment tax even after contributing to SEP IRA.
Is ...
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60
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Taking out an SBI apartment mortgage loan in Chennai, India and transferring the money to the USA in dollars
I plan to take a mortgage loan on my apartment in Chennai from SBI and then transfer that money to the USA in dollars.
Will I lose any money in the transaction like taxes, etc. ?
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Do I need to file taxes in a specific state if a small portion of my income was paid by a company based there?
I am a resident of New York for tax purposes, but conducted a small amount of freelance work with a company based in California in 2018.
They issued payment via direct deposit and my bank ...
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290
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Swing Trading Roth IRA & SEC's Reg T+2 amendment?
Few resources state that swing trading Roth IRA account would be difficult due to SEC's Reg T+3 which per SEC Website is now Reg T+2 effective Sept. 5, 2017.
Even prior to SEC's amendment, my ...
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117
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Transfer from a NRE account to Ordinary Account
Suppose I transfer a amount from my Aunts NRE account to my Bank account India.
I then repay this amount to my Aunt in her US bank account after a period of 2 months. I will show this either as a ...
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154
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Continue contributing to pension vs waiving FICA
This is my first post! I have a little dilemma I have to decide whether I want to continue stop contributing to my city pension with the benefit that I will be able to waive FICA. Let me give some ...
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207
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When I am continually trading an asset, when does each wash sale loss get applied?
Let's say I buy 20 shares of stock at $100 each, and later sell half of those shares at $90.
Less than a month later, I buy back 5 shares of the same stock at $95. The stock then rises to $101 and I ...
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Can I deduct on my IRS 2015 amended form 1040X return the tax loss from foregoing Massachusetts unemployment compensation?
Today, June 12 2017, I was told by the Massachusetts Department of Unemployment Insurance that I could not reopen a prior unemployment claim which I turned down in January 2015 arising from an ...
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209
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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 ...
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1
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280
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Transfer of my gift received from US to India
I am a resident Indian who received a gift from a trust abroad sources legally approved and authorised by abroad country. It is transferred through an associate bank abroad where the trust has money, ...
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1
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73
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Is it possible to get a tax refund that for a gift that turns into a loan?
Sometimes, we may give money as a gift to a person, but then later they pay us back, sort of turning a gift into a loan. How is this handled tax wise?
For example, if the gift giver were to pay the ...
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148
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What are the pros and cons, if any, of selling my WA-registered car in California as a Washington state resident?
I am a Washington state resident. I have a car registered in Washington state. I may have to drive down to California (Bay Area or Los Angeles). However, on the way back to Washington state, I can ...
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Why is the purchase of US I bond only possible for US citizens/residents and US civilian employees?
I read on https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm:
Who may own an I bond?
Individuals: Yes, if you have a Social Security Number and meet any one of these ...
- 11.2k
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74
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Capital gains tax with reverse order of purchase and sale
In the US, is it in principle allowed to compute a capital gain/loss by reversing the order of purchase and sale?
Here is an example:
Assume, on day 1 you buy 1 unit of an asset for 100 dollars. 60 ...
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1k
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Tansferring parent plus loan to a spouse
Can I transfer a parent plus loan I took out for my daughter's undergraduate education to my wife who works for a non-profit agency and qualifies for a 10 year loan forgiveness program?
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What part of the auction process for U.S. Treasuries makes it impossible to enroll in the auto-rollover feature after the initial order entry?
When trying to activate auto-rollover for an already purchased Treasury security on Schwab, I get the message:
This security is ineligible for auto-rollover. Due to the nature of the auction process ...
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