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Looking for information about how capital gains work for
Looking for information about how capital gains work for investments. Does it matter if the investment is a Stock or if it's property such as a collectable that rises in value? How do regulations work… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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My father had a sizeable stock portfolio. 70% was in a
My father had a sizeable stock portfolio. 70% was in a regular brokerage account and 20% was in IRA's (non Roth) and 10% CD's. When dad passed away five years ago all of his assets passed to my mother… read more
emc011075
emc011075
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Bachelor's Degree
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If I transfer funds from a brokerage account into an active
Hi. If I transfer funds from a brokerage account into an active checking account, are those funds taxable? And if so, is there an information form the bank should send me so I'll know the amount they'… read more
emc011075
emc011075
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Bachelor's Degree
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I AM THE EXECUTOR OF MY BROTHER'S ESTATE WHO DIED IN DECEMBER
I AM THE EXECUTOR OF MY BROTHER'S ESTATE WHO DIED IN DECEMBER 2014. HE WAS 60 YEARS OLD, WOULD HAVE BEEN 61 12-30-2014 RETIRED JAN 2013. RESIDENT OF TEXAS AT TIME OF DEATH ASSETS ARE AROUND $700,000 T… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,026 satisfied customers
My brother and I were named executors and are the beneficiaries
My brother and I were named executors and are the beneficiaries of my Mother's estate who recently passed 1. There is a as an IRA FBO that has the following assets as of year-end: Cash $10,332.27 Equi… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,026 satisfied customers
I buy stock from time-to-time. Each time I buy, the brokerage
I buy stock from time-to-time. Each time I buy, the brokerage commission is $7. Do I deduct the commission when I sell that particular stock (years later)? Or, should I deduct the commission in the sa… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,026 satisfied customers
I was born 8/4/1950. My brother was born 4/5/1953 and died
I was born 8/4/1950. My brother was born 4/5/1953 and died 3/29/2009 when he was 56 yrs old; I was 58 at the time. He died before his required beginning date of 70 ½. I was the sole inheritor of his I… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
We sold Mutual funds last year, received a 1099-B. It had short
We sold Mutual funds last year, received a 1099-B. It had short & long term gains for only a portion of the sale - $3298.37, net loss of (475.38). It reported "UNCLASSIFIED GAIN/LOSS" $18046.46. Our r… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
I cashed in some stock options in 2009. It was a cashless exercise
I cashed in some stock options in 2009. It was a cashless exercise (for example purposes, I had 10 stock options at $10 ea. I exercised them at $12 ea. I received a W2 from my employer for the $20 tax… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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I owned some IRA mutual funds for 25 years totalling about
I owned some IRA mutual funds for 25 years totalling about 250K which I bought over time. In 2009 I rolled over 100% to a new broker who bought reinvested in all new companies. However, during 2009 I … read more
Merlo
Merlo
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558 satisfied customers
Hello! If I sell shares of a stock at a loss in a non IRA
Hello! If I sell shares of a stock at a loss in a non IRA brokerage account, can I still deduct the losses at the end of the year if I repurchase the same company stock 40 days later, but in a Roth IR… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I had a sharebuilder account. I bought a stock on various
I had a sharebuilder account. I bought a stock on various dates. The I sold it a few times, then the remainder was transferred to Charles Schwab, but I don't know how to enter the cost basis for a sto… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I participated in my former employers ESPP plan ...
I participated in my former employer's ESPP plan through 7 quarterly purchase periods. I have all the details surrounding the dates/amounts for each period. The stock split after the 4th qtrly purchas… read more
Anne
Anne
Master Tax Preparer
3,422 satisfied customers
I sold off 300 shares of a custodial account stock in 2007 ...
I sold off 300 shares of a custodial account stock in 2007 after I transferred the account under my sole name, now that I am no longer a minor. I am not sure how to report when I purchased the stock a… read more
Jim Revels
Jim Revels
Master's Degree
126 satisfied customers
if i transfer stock from my traditional ira (below age ...
if i transfer stock from my traditional ira (below age 59 1/2) to a taxable brokerage account, am I only liable for taxes and 10% penalty of the value on the day of transfer? Is that the new 'starting… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,026 satisfied customers
I need to find out the cost basis for my childrens ...
I need to find out the cost basis for my children's stock sold in 2006. It was given to them my their great grandfather who is deceased and I contacted the company that the stock was sold through and … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
I received 52 shares of GM Common stock worth $3848.00 ...
I received 52 shares of GM Common stock worth $3848.00 as part of an inheritance 7/15/1986. I sold the entire amount of(NNN) NNN-NNNNshares on 10/16/2006 for $11,941.53. What is my cost basis?… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
I sold some stock in 2006 to pay off a loan from my ...
I sold some stock in 2006 to pay off a loan from my brokerage firm but, I have no clue as to what the "cost basis" is. Where can I get this info,please? The stock was tranferred to my present acount a… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
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