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Re: Tax forms for selling a second home??

Hey Thanks for the reply, sorry I'm delayed getting back. Yes, the Form 8949 is the same form that stock sales are reported on behind Schedule D. Yes, I have found that a second home that was not rented or used as a main home is considered just as you indicated, a capital asset for investment. So th...
by 2quik6
Tue Mar 12, 2013 8:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax forms for selling a second home??
Replies: 4
Views: 427

Tax forms for selling a second home??

Not sure why I can't seem to find a direct answer to this searching the web, but I had a 2nd home we bought mainly for potential investment purposes (The area was moving towards becoming commercial). We owned the house for 5 years, it was never rented out and was never lived in. My daughter at one t...
by 2quik6
Fri Mar 01, 2013 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax forms for selling a second home??
Replies: 4
Views: 427

Re: Stock sale reported on 1099-MISC instead of 1099-B?

This all finally got sorted out after the company CPA was consulted and informed the ex-partner that he had completed the forms incorrectly. A corrected 1099-Misc was issued for $0, and the right 1099-B forms were completed!
So yes, a company, not a Brokerage can issue a 1099-B apparently.
by 2quik6
Mon Feb 25, 2013 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 2249

Re: H&R Block Tax software running on a Mac?

I never found an answer and the help line would never answer, so I ordered and downloaded it for Mac, and it imported the previous years info entered on a Windows XP based program just fine!
by 2quik6
Mon Feb 25, 2013 10:34 pm
 
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 600

Re: Stock sale reported on 1099-MISC instead of 1099-B?

I know in the past, my tax software has always required you to enter a separate line item of every 1099 form you have or income item, depending on what the line is for, it will sometimes just place a *note something on the front page, then the tax software prints a report page of all the entries tha...
by 2quik6
Thu Jan 31, 2013 12:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 2249

Re: Stock sale reported on 1099-MISC instead of 1099-B?

I get it that you want to show the gross amount to agree with what was reported to the IRS. But how do you report it then back it out if there is only one line? There may physically be only one line on the 1st page of the 1040, but a person could have worked multiple contracting jobs and actually h...
by 2quik6
Wed Jan 30, 2013 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 2249

Re: Stock sale reported on 1099-MISC instead of 1099-B?

I have no expertise in this area. But can a business issue a 1099-B? I thought that was only for brokers. Also, this is one of those cases that came up in another thread where it would be very well worth your while to use a CPA who has experience in business sales. That may be a very good point. I'...
by 2quik6
Wed Jan 30, 2013 8:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 2249

Stock sale reported on 1099-MISC instead of 1099-B?

I sold my shares of a business I owned along with 3 other people, actually 2 of us sold our shares back to the remaining 1 person. Shares were purchased with $$ from the company account that equaled 1/3 of the net worth. Now I received a 1099-MISC with the stock purchase amount reported as "Non...
by 2quik6
Tue Jan 29, 2013 8:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 2249

Re: H&R Block Tax software running on a Mac?

It's just a .T11 file for last year. Its not a csv or xcel type file, its not readable when opened with an editor.
I still have a spare Windows machine but would rather get the mac version if I know it will import last years info from that .t11 file.
by 2quik6
Tue Jan 29, 2013 4:57 pm
 
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 600

H&R Block Tax software running on a Mac?

I have used this software for years on a Windows machine, but this year switched to a Mac. The software is avail for Mac, but wondering if it will be able to use my data file that was created last year on Windows to import at the beginning of the process? Anyone know or has done this already? I don'...
by 2quik6
Tue Jan 29, 2013 1:50 pm
 
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 600

I would not go with Wells Fargo. I had about 1/2 of my investments with them and the other half in Vanguard. The Wells stuff was actively managed by an advisor since I had over their threshold for advisor services. The WellsTrade accounts mentioned in this thread are a completely different animal f...
by 2quik6
Wed Dec 17, 2008 7:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Shopping for a Financial Advisor, should I consider this?
Replies: 42
Views: 6262

I would not go with Wells Fargo. I had about 1/2 of my investments with them and the other half in Vanguard. The Wells stuff was actively managed by an advisor since I had over their threshold for advisor services. I can say that the Vangaurd portfolio managed only by me and my little knowledge at t...
by 2quik6
Tue Dec 16, 2008 9:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Shopping for a Financial Advisor, should I consider this?
Replies: 42
Views: 6262

jazzcat, I know alot of folks have and will bash you for pulling out at what they think was a bottom last week. I pulled out alot of mine after the rebound started last week knowing there is nothing but bad news ahead which will drive it lower. It's easy to say, "you should have left it in"...
by 2quik6
Mon Dec 01, 2008 3:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do You Think We Are Okay?
Replies: 55
Views: 9252

Re: Individual stock dividend and Yield??

What you're looking at is actually not a stock. It's an exchange-traded debt instrument (issued by AT&T) with par value $25 that pays interest quarterly. The symbol for AT&T stock is "T". http://stockerblog.blogspot.com/2007/09/what-stock-has-att-stock-symbol.html If you're going ...
by 2quik6
Sun Nov 30, 2008 1:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1234

JDCPAEsq wrote:Maybe you should reconsider buying individual stocks until your knowledge expands a bit, if you decide to buy them at all.
John

To date I have not been investing in them for their dividend, but it could be a side benefot if I ever did invest in a stock such as this. :roll:
by 2quik6
Sat Nov 29, 2008 10:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1234

Dave, thanks! Yes, I was basically trying to figure out if the yield was simply the current dividend expressed as a yearly percentage. I've noticed some stock only list a current yield and no dividend info was what had me confused on AT&T. I suppose some may just distribute the dividend yearly i...
by 2quik6
Sat Nov 29, 2008 9:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1234

Individual stock dividend and Yield??

Just recently getting into some individual stocks and am wanting to know what the difference of the stocks dividend and its yield are. For instance, AT&T, info given in this link http://research.scottrade.com/public/stocks/snapshot/snapshot.asp?symbol=ATT&go.x=8&go.y=12 Has a dividend of...
by 2quik6
Sat Nov 29, 2008 5:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1234

I had invested a large amount into GNMA back in Feb of this year, yes its held thru these hard times, but the total $$ amount in the account has remained the same, in fact its about -$500 at the moment due to the NAV share price fluctuation of the fund. It was down at the beginning on the year, but ...
by 2quik6
Sat Nov 29, 2008 5:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: GNMA Fund
Replies: 6
Views: 1896

If money is moved in now won't the share price/principle start to deflate as everyone moves back into the market in the future and thus lose more money since the interest rate would not keep up with the drop in share price? Yes. I've been doing buying in the VG Short Term Investment Grade bond Fund...
by 2quik6
Tue Nov 25, 2008 11:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 849

That's what I figured, never invested in T-bill funds before.....and then again, the share price was at its year low less than a month ago so that would have been a perfect time to jump in...so it went from its year low to high in less than 4 weeks..and was at its low even after the huge drops in th...
by 2quik6
Tue Nov 25, 2008 11:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 849

Timing for moving $$ into a Treasury fund?

Due to the current rise in most T-bill mutual fund share prices, wouldn't now be a bad time to move money into this type of fund? Since alot of folks have done this already, I see the current VG mutal T-bill fund share prices are at years highs....if money is moved in now won't the share price/princ...
by 2quik6
Tue Nov 25, 2008 11:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 849

Re: citi

qmoney wrote:Rob you will be ok :lol: I'm sure your will make back a little cash before you sell. You are a strong fellow for sticking in there.

I don't know about that..maybe dumb for getting back in at $8 after going from $45 to $17 although with a lot less investment this time around
by 2quik6
Mon Nov 24, 2008 11:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1267

Another ? pertaining to my question above about the interest rate and how long it may remain... is the share price of this fund dropping reflective of a sell off just like stocks?
I'd think the high interest rate and low share price would spur on some buying.
by 2quik6
Mon Nov 24, 2008 11:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 1460

Re: citi

Seriously though, just realize that you are not investing, but rather gambling when you think you can call bottoms and get out at peaks. The pros can't do it, and neither can you. Consider this friendly advice. Exactly, just look at FNM's history to see how their stock prices reacted when the govt ...
by 2quik6
Mon Nov 24, 2008 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1267

I see your point on the differences, I suppose its all left up to interpretation with the IRS. The hy fund was attractive back last year as the share price appeared to have been fairly stable and provided a fairly fixed 7% interest. Even though the share price has dropped over 33%, I still receive t...
by 2quik6
Mon Nov 24, 2008 10:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 1460

hmm...Citi hits hard with me because I was in a reverse convertible with Citi stock ealier in the year...earned 16% interest for 6 months...but then Citi stock fell from $45 to around $17...fell out of its cushion price so I ended up eating a huge loss as at the end of the term I had shares of Citi ...
by 2quik6
Mon Nov 24, 2008 10:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1267

Thanks for the info Rick. Can you provide any insight as to what moves the corp bond prices if not related to stock prices? I assume it has to do with even higher risk concerns in a struggling economy since the corporations were high risk to begin with that makes their chances of defaulting even hig...
by 2quik6
Mon Nov 24, 2008 10:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 1460

VG High Yeild Corp Fund VWEHX falling price??

I've been investing with VG for over 10 years and just recently found this forum!! (I've learned a ton of things about my cars from forums so I can't wait to learn more about finanances now!) My question is, I'm a bit preplexed as to why the VG High Yield Corp Fund VWEHX share price continues to fal...
by 2quik6
Mon Nov 24, 2008 9:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 1460

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