All Questions

0
votes
2answers
55 views

1041 not supported by tax software - file as regular and 1040X to adjust?

I'm just about done filing for this year, when I discovered that my tax software only partially supports K-1 forms - specifically, it doesn't support 1041s (Beneficiary of trust, trust has income that ...
5
votes
1answer
609 views

Should I take advantage of “interest-free” credit when buying something? [duplicate]

If I buy something like a smartphone or a new PC, when you have these choice: Pay all the cost at the moment. Pay it in 6/12/18 months (with loan but without any interest rate and any extra cost). ...
2
votes
6answers
401 views

How to stop promotions from filling new “necessary” expenses

I am 25 now (damn I feel old haha!) and I have gotten 2 promotions in my career so far. When I was younger I though that every promotion will be more spending money. Now that I have started living, ...
-2
votes
0answers
57 views

Ok so similar to the other scam of someone needing your login info for a bank manager [duplicate]

What if they say don't put any money into the account after you accuse them of it being a scam? As in they say just make a new account and don't have money in it since then they can't scam you. Seems ...
4
votes
0answers
27 views

Can I list multiple wage income abbreviations on Free File Fillable Form 1040?

Background Wage income abbreviations are for taxable income not listed on a W-2. Two examples of these abbreviations are "HSH" and "SCH". Those two abbreviations are mentioned on pages 26 & 27 of ...
0
votes
0answers
104 views

Merchant Requesting Sensitive information to validate credit card

I'm trying to subscribe to a cloud service and they are requesting a lot of information. Is there a limit to the information a merchant can legally request in order to let you use a credit card? They ...
0
votes
0answers
80 views

Cash Deposit in Sparkasse Bank

I have a bank account at the Sparkasse (A German Bank). I have some cash, Can I deposit in the Bank Branches, even if I only have an ATM Card? Which charges are applicable and maximum how much cash I ...
0
votes
0answers
13 views

Problem with NY State IT-201 Amended

In 2017 on my IT-201 NYS return I checked "D1 Did you have a financial account located in a foreign country?" as "No". That's a mistake, it supposed to be "Yes". So I want to file an Amended, it's an ...
1
vote
1answer
34 views

Can I make multiple payments through EFTPS in one quarter?

The reasoning behind this is pretty silly, but I was wondering if you can make more than one payment through EFTPS for the same quarter. This is the first year I am making substantial money as a ...
4
votes
5answers
1k views

Is it wise to hold on to stock that has plummeted and then stabilized?

I own some stock that lost more than half its value. It has now been more or less stable for months, and I'm tempted to get rid of it because I see poor prospects in the future for this line of ...
1
vote
1answer
53 views

how long is it allowed for Brokerages to send updated 1099

One brokerage has send me an updated 1099. I am wondering by law how late these Brokerages can send the corrected/updated 1099? I think It is about Feb 20 of the calendar.
2
votes
1answer
88 views

Should one file 1040X to get extra $5 tax refund

After I finished my taxed in last week of March, I received a Updated 1099 with only one modification where 199a is modified from zero to $50 or so. Refund is about to come in a week. Initial values ...
1
vote
1answer
37 views

Cash Component in Index

In one of the office discussions today, it came up that index, for example, can have cash also. This information was new to me and I couldn't understand why an Index will have cash? Could someone ...
2
votes
0answers
34 views

U.S. Amending Tax - Should a 1040x be made if I forgot to include 1099-r but there is no difference in taxable income?

I was notified last year when I went to the tax office that I didn't include a 1099-r early distribution. This is the distribution in question: I am confused because the TurboTax UI shows my ...
0
votes
1answer
342 views

A person wants to deposit 2.1 million into my account [duplicate]

A man wants me to transfer 2.1 million into my account and then have me purchase properties with the money. Am I being scammed? He has given his banking info, Password, and routing information.
2
votes
2answers
174 views

Part time job offer where employer's customers sends money to my bank account and I send it to my employer [duplicate]

I am a teenager looking for a job to earn some side income while studying, but I am very uneducated on bank transfers and such. I found this job offer and I do not know if this is legitimate or a scam,...
0
votes
0answers
52 views

pre tax and post tax [closed]

It was stated that pre tax you can only change your insurance if you had a life event and post tax premiums did allow you to make insurance changes without needing a life event. So with that said pre ...
52
votes
8answers
19k views

Aging parents with no investments

My aging parents (75/77years) own a house on 35+ acres (14+ hectares) in rural NE USA (no mortgage). They have: No investments (other than the obvious property) Savings of maybe $30k in a bank ...
2
votes
1answer
49 views

Tax implications of transferring directly-owned stock to a brokerage account?

I don't know all the proper terminology so I hope this is understandable. My father gave me a chunk of stock. The stock I now own is directly bought and handled through the company who's name is on ...
0
votes
1answer
62 views

What is the origin of the name of Form 10-K?

I am assuming that Form 10-Q stands for quarterly, though I can't derive a good reason for the 10. Wikipedia: The name of the Form 10-K comes from the Code of Federal Regulations (CFR) designation ...
40
votes
12answers
16k views

How to manage monthly salary

I am a 22-y/o guy starting my first job. I am interested to know how I should manage my monthly expenses. Keeping in mind that I need to pay for my rented apartment, food, water, etc., save money for ...
-1
votes
1answer
48 views

mean vs current values to compute indicators

First time writing a question here! I'm creating a simple bot to trade with stock. It uses indicators such as Moving Averages or Bollinger bands to evaluate the price of the stock and decide whether ...
5
votes
3answers
203 views

Are out of pocket hotel expenses deductible in this case?

My wife and I both have professional jobs and make pretty good money. My wife also got a part time job (W-2) at a ski resort this winter, mostly for fun, and was paid hardly anything (and only worked ...
0
votes
0answers
42 views

OPT student accidentally filed taxes using TurboTax [duplicate]

I'm an F-1 student that accidentally filed my taxes using TurboTax. According to this forum, I need to file 1040-NR with a 1040-X attached to amend what I already filed using TurboTax. I tried ...
0
votes
0answers
19 views

report: group account activity by accounting period instead of by month

I'm using GnuCash 2.6.12 and would like to create an annual report for tax reporting purposes. For that, I would like to create a report where transactions are grouped for the whole year, (the ...
0
votes
2answers
63 views

Are intra-state and out-of-state online accounts insured by the FDIC?

Are intra state and out of state ONLINE savings/checking/CDs/money market accounts FDIC insured same as local brick & mortar bank accounts?
1
vote
1answer
30 views

NJ 1040 Dividends

For the NJ 1040 do you add together your ordinary dividends and qualified dividends or are the qualified dividends already part of the ordinary dividends and I should just report the ordinary dividend ...
0
votes
0answers
19 views

Dual Status return after abandoning US LPR status

I'm trying to figure out the simplest way to file my last dual status US income tax return. I'm a Finnish citizen and my US status was as follows: H-1B: October 2015 - May 2017 LPR: May 2017 - May ...
2
votes
3answers
1k views

Are tax years 2016 & 2017 back taxes deductible for tax year 2018?

If someone, in 2018, pays taxes, including interest and penalties, owed for tax years 2016 and 2017, then can that person claim a deduction for the paid taxes, only the original amount and no the ...
0
votes
0answers
18 views

Capital gains tax for F1 visa holders?

I am currently on F1 visa and planning to invest in U.S. stocks. Could someone explain how much is the tax on any capital gains? Both long term and short term?
1
vote
1answer
110 views

Does an unused overdraft help or hinder credit score?

Whilst at university, I was given an interest- and fee-free overdraft of £2000. I finished uni a few years ago by now, and the interest- and fee-free deal has now ended. I don't use the overdraft at ...
5
votes
3answers
19k views

Disadvantages of online checking accounts?

My parents helped me set up checking and savings accounts through Wells Fargo when I was a teenager and got my first job. Only now, ten years later, I’m realizing that the Wells Fargo accounts aren’t ...
1
vote
1answer
39 views

How to calculate return on capital for calendar year?

For an options portfolio, I'd like to calculate return on capital from Jan to Dec. These are monthly options that are held for a few days to months. There's a couple of problems with trying to ...
1
vote
2answers
126 views

What kind of bonds are ideal for short term investments

I have money in my bank right and I want to acces them in 1-2 years. I am not willing to take the risk in a stock portfolio, but willing to make bond investments riskier than buying government bonds. ...
2
votes
1answer
163 views

Can “Trustly” be trusted with my bank credentials?

To add money into my PayPal wallet I have to use Trustly. Trustly connects to my bank account and draws the funds from there. In order to connect to my bank account I need to provide them with MY ...
3
votes
0answers
120 views
+50

Capital gains tax and HMRC. What is the definition of a lodger and is there a difference between a friend staying a few months and a lodger?

I have two friends living with me and they only pay bills (no rent) and I wondering if I would be liable for CGT on the period they live there? I don't take any rent from them at all and they are ...
1
vote
1answer
80 views

Capital Gains Tax - rented my flat at no real profit for a number of years

I have been letting my home to lodgers on and off for a few years to friends for no profit or a considerably lower profit (30% -50% of market value). I don't consider it a business or a money making ...
1
vote
1answer
28 views

Capital gains tax calculations - percentages per year of increase or at sale (UK)

Purchased house for £100,000 in 2008 Sold house for £200,000 in 2017 The house was let out entirely for the duration of ownership. My income for 2017 was under the tax free allowance. Now, to ...
1
vote
0answers
9 views

How do I use MI-1040D for capital gains/losses in other states?

Say we have a full-year nonresident of Michigan, who has wages of W, attributable to Michigan, and a capital gain of G from selling stocks. Since they are a nonresident, the capital gain should not ...
1
vote
1answer
46 views

What is the type of other incomes like referral bonus on line 21 of Schedule 1(Form 1040)

I got the joining bonus for the bank account and the referral bonus for a credit card. I didn't get any 1099 document from bank and credit card company. So I am trying to write these incomes on line ...
1
vote
0answers
20 views

Need help in recording mutual funds on tax returns [duplicate]

If I record the proceeds and costs of all short term and long term mutual fund transactions, why are there additional capital gain distributions? It seems like double taxation.
1
vote
0answers
49 views

Received a tax refund check after my business' checking account is closed and the entity's dissolved

I had an LLC and closed the LLC's checking account. Then the LLC was dissolved a few months back. A couple days ago, I found out that my business received a tax refund check two months ago, but I'm ...
1
vote
0answers
68 views

Forgot to check “Yes” in the question about the foreign account

In 2017, using Credit Karma, I filed a tax return by must have said "No" to the question about foreign accounts. The max aggregate balance of all my accounts in 2017 was under $10,000 so I didn't have ...
1
vote
3answers
116 views

Does compounding frequency have any bearing on the return on investment?

If I take 100 dollars and put it into a savings account that pays me 5% annual interest which compounds monthly. At the end of the year I will have $105.12 If I take the same 100 dollars and invest ...
1
vote
1answer
35 views

Capital Gains and Capital Gain Distributions for a mutual fund

I'm currently working on my tax return for 2018. I have taken my 1099's and calculated short term and long term capital gains and losses for my mutual funds where basis is reported and unreported. ...
0
votes
0answers
22 views

Trading or Investing on Equities Annual Taxing in California

Trading Imagine an individual trading account for 2018 fiscal year increased from ~$100K to ~$200K Total amount of trading transactions were at >~$20M Imagine for a married couple with another ...
2
votes
1answer
59 views

Invest in Motley Fool 100 through UK ISA?

Is it possible to invest on a Motley Fool 100 based index through a UK ISA?
3
votes
0answers
50 views

Motley Fool US v UK?

Does anyone know the relationship between the Motley Fool US and the Motley Fool UK? A few years ago, fool.co.uk was a lively web site with very active forums. Then it changed into something that ...
1
vote
0answers
33 views

UK shares Investment advice

Having read the Motley Fool UK Investment guide many years ago, I have invested in various index trackers through ISA over the years and am very happy with this. However... I just read the (US) ...
1
vote
1answer
40 views

Are stop loss orders stored at the broker or on the exchange itself?

When a stop loss order is not active yet (stop price has not been hit), is it stored at the broker or directly on the book of the exchange? In other words: Does the broker send the order to the ...

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