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Tax reporting for Trading Foreign Currency Married Taxpayer
Tax reporting for Trading Foreign CurrencyMarried Taxpayer is NOT a day trader. In his Interactive Brokers stock account he is trading foreign currency trying to make a profit on the rate change. His … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
I have 294 pages of 1099 which is more time consuming to
I have 294 pages of 1099 B which is more time consuming to enter on 8949 by each stock. In such case can I enter just the total proceeds value and total cost price and attach the pdf document with the… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
Lev, i have a 1099- from wells fargo investment acct. there
hi lev, i have a 1099-B from wells fargo investment acct. there a short term gains with part I box A checked(it says) and short term gains with part 1 box B checked and longterm gains with part II box… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
I have to file prior year Return which included numerous
I have to file prior year Return which included numerous purchases/sales of stocks and options in day trading. I cant get Turbo Tax to import the data since (a) It does not import prior year data and … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,252 satisfied customers
I loaned money to help a friend with a business. I was to be
I loaned money to help a friend with a business. I was to be paid back wit interest. Now the business is bankrupt and I am out the money. Can I right this off and how? Thanks Jim… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
17,888 satisfied customers
I would like to know how to calculate Part V (Distributions
I would like to know how to calculate Part V (Distributions From and Dispositions of Stock of a Section 1291 Fund) of Form 8621 for my situation. I'm a US permanent resident. My 2013 Tax status was no… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,252 satisfied customers
I have a schedule K-1 from partnership(This is actually an ETF stock I bought). I don'
I have a schedule K-1 from partnership(This is actually an ETF stock I bought). I don't know how to file it with my tax return. It has an amount at line 11. code C. Instruction said put it in form 678… read more
USTaxAdvising
USTaxAdvising
Partner
Bachelor's Degree
1,099 satisfied customers
My two Brokerage houses do enable one to download stock gain
My two Brokerage houses do enable one to download stock gain and Loss information to an Excel Spreadsheet. The s/s does not come in the form that the IRS uses ( 8949) There is some missing information… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,362 satisfied customers
I was a shareholder in a C Corp during 2014 and loaned the
I was a shareholder in a C Corp during 2014 and loaned the corporation 15,000 about 5 years ago. When I sold my shares I received a check for the loan plus interest. How do I report this on my tax ret… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
Is there any way I can mail in Forms 1099s from my brokers?
Is there any way I can mail in Forms 1099s from my brokers? Two years ago my financial advisor told me to cash in an annuity and place the funds with brokers. I did. As a result I have about 70 trades… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
Answers from Two Experts requested: I sold some stock and the shares were sold using FIFO
I sold some stock and the shares were sold using FIFO instead of a specific lot identification method. My 1099 from my broker reflects this, and it is causing a tax issue as I intended for the last lo… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
There are many transactions on a Form 1099B and they are
There are many transactions on a Form 1099B and they are under the box 1 where the tax basis IS reported to the IRS. Since the basis is reported to the IRS, on Form 8949, can I just have one line item… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
i need help and an example with how to report the sale of RSUs
i need help and an example with how to report the sale of RSUs in 2012 that were reported as a single line item on my 1099, but involved the sale from multiple vesting lots.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
16,362 satisfied customers
Filing online H&R Block in 1099-B form. Need help!
I have multiple 1099-B forms I'm attempting to enter in H&R Block online. The one I'm currently working on shows a list of short sale closes on multiple stocks. Do I need to manually enter each line i… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,255 satisfied customers
Good Afternoon,I am an individual options trader. I noticed
Good Afternoon, I am an individual options trader. I noticed on my 2011 1099 that my brokerage account stated that these trades have NOT been reported to the IRS. Page one of my 1099 shows all zeros i… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Foreign Tax credit wks, Part I, lines 4b(1)b and (1)c. How
Foreign Tax credit wks, Part I, lines 4b(1)b and (1)c. How do I calculate the adjusted basis of investment assets generating foreign income and adjusted basis of total investment assets. My husband an… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
My stock acct was downloaded from my brokerage to my turbotax
My stock acct was downloaded from my brokerage to my turbotax form, but only transfered stock buy and sells, no option transactons (which are several). Do I have to enter each transaction (itemize on … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
My wife chose to withdraw her vested interest in a former employers
My wife chose to withdraw her vested interest in a former employer's ESOP (she is 67 and retired) in the form of a stock certificate. The stock was sold as soon as our broker received the certificate.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
31,668 satisfied customers
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