Unanswered Questions

2,873 questions with no upvoted or accepted answers
14
votes
0answers
839 views

What are the appropriate forms to file when using a mega-backdoor?

For the backdoor (IRA -> Roth IRA, generally up to $5500 per year) conversion, we need to file Form 8606. Are there any equivalent forms that must be filed for mega-backdoor (After-tax 401k -> Roth ...
8
votes
3answers
2k views

Mega Backdoor Roth: Withdrawal consequences for in-plan vs out-of-plan conversion

My employer allows after-tax 401k contributions, and has an option for automatic quarterly after-tax 401k -> Roth 401k in-plan conversions. The other option for executing the mega backdoor Roth is to ...
8
votes
1answer
564 views

With the Fringe Benefits Tax, should I even salary sacrifice for a car?

In Australia, some employers offer an option to salary sacrifice a car purchase. The cost of the car is taken from your pre-tax salary, so your gross income will be less, and therefore, your income ...
7
votes
1answer
6k views

Tax treatment of dividends paid on short positions

If a retail investor holds a short position when the stock goes ex-div, they must therefore pay a dividend to the buyer of the short. What is the tax treatment for this dividend payment the investor ...
6
votes
0answers
139 views

Do you lose ADRs Investment if the issuing Bank goes bankrupt?

If I buy a Foreign Country Stock through an ADR eg, Citibank and JPMorgan. And then The US banks almost go broke/bankrupt during the 2008 meltdown (as example), would I lose my ADR and investment, or ...
6
votes
0answers
47 views

Implications of brexit for UK-EU personal purchases and sales

Until December 2020, I was happily in a customs union with a lot of other countries. If I needed to buy a hard disk for my computer, it was often cheaper (including shipping) or more likely available ...
6
votes
0answers
61 views

Tax exclusion for American Expats

I am an American Citizen. I work remotely for a company based in the US. Working remotely means that I can live wherever I want. If I move to a foreign country and live full-time there and ...
6
votes
0answers
73 views

In what circumstances, if any, is it advisable to file 1040-X before the original return is processed?

Some sources suggest "never": You must wait until the IRS has processed your tax return before making corrections. Or suggest "never if your original return claimed a refund": ...
6
votes
3answers
364 views

Can collections agency actually remove debt from credit report or are they just lying?

I recently ran my credit score and discovered that unbeknownst to me there was evidently a $60 medical co-pay from last year that I never paid (they sent the bill to an old address and due to it being ...
6
votes
0answers
175 views

What is my cost basis for a stock I received when my insurance policy was demutualized?

Background: My brother and I are co-beneficiaries of a trust that held an insurance policy with The Principal Financial Group, which Demutualized on October 26, 2001. At which time the trust was ...
6
votes
1answer
243 views

In which country do I pay capital gain taxes, as a German with a US Internship?

This year, I did an internship in the US, and during that time I bought some stocks. Now I am back in Germany, and got dividend payments on these stocks, and also want to sell some of them soon. ...
6
votes
0answers
413 views

Starting a trust fund in an EU country

I'm in a sudden and unfortunate need of starting a trust fund (money being the only asset) in an EU country (I'm afraid I need to rule out UK as an option) for a minor (not a relative of mine) that ...
6
votes
0answers
99 views

State Income tax when splitting a day between states (in the USA)

First of all, I realize that when traveling to another state for employment it is commonplace to owe taxes in that state for the work performed+sourced in that state. Example: you work/live in ...
6
votes
2answers
492 views

Is there evidence that in the long-term, leveraged ETFs perform poorly?

I came across an interesting question: "Why are daily rebalanced inverse/leveraged ETFs bad for long term investing?" Despite the topic, the answers there actually illustrated the hypothetical risk ...
6
votes
0answers
204 views

Used an incorrect SWIFT code for transfer. Will money return or still go through?

I made an international transfer from my bank in Italy to the U.S. The recipient account number and routing number were correct including the address, but I mistakenly used the SWIFT code of the U.S. ...

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