Even tho it may be a pdf. TT should still be able to complete the form correctly.
I gave up waiting and filed with TT a week or two ago. I just now updated TT and checked--7206 is still incorrect in Line 1 (but with a footnote).
Even tho it may be a pdf. TT should still be able to complete the form correctly.
Yes. I put about $60,000/year on the card and so the extra 0.5% is worth about $300/year (tax free)--vs. about $45 (taxable) in lost HY interest on the $1,000. Plus, as I often remind myself, HY savings accounts will not be paying 4.5% for very long (I think).jeffyscott wrote: ↑Fri Mar 15, 2024 9:03 amFrom what I see on their website, in order to get 2.5%, Alliant requires an average daily balance of $1,000 or more in a checking account that pays nearly nothing (0.25%). Keeping an extra $1000 in checking offsets the extra 0.5% on about $8-10K of purchases per year.
Alliant Visa Signature - 2.5% cash back on all purchases (up to $10,000 month). Because it's worth giving up 0,125% not to have $100,000+ stuck in a Merrill Edge account (and not to have to deal with BofA).
If the payment provider will not deal with the bank then it needs to be cut out of the middle. Otherwise disputed charges will always be charged back to your friend.
Just filed for 2023: 2E 3D 2J 3B 2R 3H. Not sure why I was thinking 2T before.Asciiichag wrote: ↑Sun Mar 10, 2024 10:18 am
Any follow up on which plan characteristics code you used when filing your 5500EZ?
Thanks!
If the taxpayer meets the exclusive use test.
Are you saying:billaster wrote: ↑Wed Mar 06, 2024 5:07 pm Also note that for some people, the home office deduction is less valuable than the fact that you can deduct all mileage from your home to any client locations. Normally mileage from your home is considered normal commuting and non-deductible, but you can deduct it as business mileage if you are departing from your home office.
Maybe I'm misunderstanding.BogleBall2 wrote: ↑Tue Mar 05, 2024 6:17 pm Turbotax calculated the depreciation of $640 resulting in the $220 of actual tax savings.
See whoiskaiyo's post above. Same thing happened to me (and jhurff above).greeny1217 wrote: ↑Sat Mar 02, 2024 1:31 am what happened at the end? I am in the same situation, I need to withdraw money to escrow now!
Yes, 2 is probably safer and I am now fully retired, but absent this change in law I would have let the 401(k) continue in case I decided to work again.MP123 wrote: ↑Thu Feb 29, 2024 11:35 am Your option #2 above seems like a nice end-run around the issue of how to switch from being an related employer to being your own plan sponsor, unless you need the extra contribution space or Backdoor Roth ability.
Other than that it sounds reasonable to me assuming you don't want to remain in a controlled group.
Yes, the current plan will continue as before (no changes) with my wife's business as the sponsor.
I don't think the "successor plan rule" applies here because the current plan is not being terminated. See Treasury Reg 1.401(k)-1(d)(4)
The only "Employers" allowed under the plan are the sponsoring Employer and Related Employers--and my business is neither (as of 1/1/24). So staying in the plan is not an option.terran wrote: ↑Thu Feb 29, 2024 10:19 am The controlled group parts of this are above my pay grade, but just to clarify/confirm, you shouldn't be closing the old 401(k) plan (which requires waiting 1 year to open a new one) and opening a new one, but rather you should be amending the plan and opening new accounts within the same plan and transferring assets between accounts. Since there's no change in plan I wouldn't think there would a form 5500 change other than changing the feature codes if there are any changes there due to the amendment.
If one files a 5500-EZ there is a 3-year statute of limitations for the IRS to question it (which is why some people file even if plan assets are less than $250,000).
See my post above.shelterinplace wrote: ↑Tue Feb 27, 2024 10:51 am I started by entering the 1099-R Coded G which shows the pre-tax and after-tax monies. The pre-tax went to my TIRA and the after-tax went to my Roth IRA.
Hence my suggestion above that OP needs something in writing.popoki wrote: ↑Wed Feb 21, 2024 4:36 pmLiving there without a lease probably gives her rights as a tenant, possibly greater than if there was a lease. Anyways, with a month-to-month lease, the landlord could just raise rent 10X when things go south.
A lease gives her the rights of a tenant, which could be a problem later.
Ignoring catch up contributions, you're capped at $22,500 (for 2023) across all plans and across Roth and pre-tax.JR0 wrote: ↑Fri Feb 16, 2024 2:32 pm
I'm not asking about catch-up contributions. I just wondering if, after someone contributes (for 2023) $22,500 to roth 401k can that person make additional roth contributions on the employer side? Historically, the answer was no because employer side contributions were traditional and not roth. The new provisions in Secure Act change that so i'm wondering whether we can take advantage of the new changes or if E*TRADE's plan doesn't allow that.
You need to look at the forms for the Self-Employed version. https://www.hrblock.com/pdf/HRB-Online- ... ployed.pdftalzara wrote: ↑Mon Feb 12, 2024 8:56 pmH&R Block does not have form 7206 on the list of supported forms: https://www.hrblock.com/pdf/HRB-Online- ... deluxe.pdfPapaBearTX wrote: ↑Mon Feb 12, 2024 5:51 pm And I received my last 1099, updated my return in TurboTax only to get the Form 7206 efile error.
If posts on TT forum are correct, TT online and H&R Block can e-file, just not those of us using TT-desktop software.
Yes, this is a bit frustrating.