ptheland

Peter Thelander

ptheland’s Activity

Today

NL

Boards Post

ptheland replied to the Tax Strategies board. 4 hours ago

Re: follow-up on dependent with income

Any education credits follow the dependency exemption. So if you claim 1poorkid as a dependent, you also get to claim any education credit.

However, you can choose not to claim her dependency exemption, but she still can't claim her own [more]

Yesterday

NL

Boards Post

ptheland replied to the Tax Strategies board. 3:19 PM

Re: Importing transactions for a partnership?

I realized i do have to make adjustments for wash sales...so I guess i need to enter every transaction onto Form 8949?

Technically, yes.

You _can_ attach your own statement as long as it follows the same format as Form [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 3:11 PM

Re: Help claiming a dependant with income

If a dependent has enough income to file a return, they file their own return and do not claim their own personal exemption.

$407 or $704 of W-2 income - either way he is below the filing threshold unless he has some other income as [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 12:08 PM

Re: Importing transactions for a partnership?

Also keep in mind that if all of one category of transactions have their basis reported on the 1099B AND you do not need to make any adjustments (such as wash sales), you don't need to list the individual transactions. Just report them on line 1a or [more]

Fri Feb 27

NL

Boards Post

ptheland replied to the Macro Economic Trends and Risks board. 8:25 PM

Re: OT: Net Neutrality question

Let me see if my understanding of Net Neutrality is correct.

Conceptually, there are three parties involved in bringing content from a server to a user. There is the user's ISP, there is the server company's ISP, and there is someone in the [more]

Thu Feb 26

NL

Boards Post

ptheland replied to the Berkshire Hathaway board. 2:01 PM

Re: Reconsidering IBM's Moat

But for big enterprises, I think things are getting more complicated and painful: 1) they essentially all need to partake of the cloud in some fashion ...

And I think even that isn't quite right. Big companies don't partake of the [more]

Wed Feb 25

NL

Boards Post

ptheland replied to the Humor and Urban Legends board. 9:40 PM

Re: Atomic humor

A proton walks in.
The bartender asks, "Are you sure you're old enough to drink?"
Proton replies, "I'm positive."

NL

Boards Post

ptheland replied to the Macro Economic Trends and Risks board. 8:22 PM

Re: OT - What's new with Peanut Allergies

Unless you died...


Or went blind ...

Or lost your hearing...


Or left you permanently brain damaged...


All of which are roughly equally likely - along the order of 1 in 1000. Overall, about 3 in [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 1:09 PM

Re: Terminology question: "Tax consultancy

I think I'm going with "Tax Services Agreement".

Just out of morbid curiosity, what is the German title for this agreement? It's been a while since I finished my German classes in High School, but I do get curious from time [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 1:06 PM

Re: tax software

[company X] advertises a seamless automatic conversion,

IMHO, there is no such thing. It ranks right next to unicorns and fairy dust. Its advertising hype.

They all try to convert information from their competitors, but I [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 1:00 PM

Re: Seller Held Mortgage and FINs

It looks like you've got the bulk of your question answered.

I asked my question about the form to clarify what you're trying to file. I've had clients in your situation think that they need to prepare a 1098 and give that to the person who [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 12:50 PM

Re: Terminology question: "Tax consultancy

It's important because I am translating such a contract from German into English :)

Engagement letter is not so good because I would like to have the word "tax" in there somewhere.

The engagement covers the preparation
[more]

Tue Feb 24

NL

Boards Post

ptheland replied to the Tax Strategies board. 11:49 PM

Re: Seller Held Mortgage and FINs

Let's back up a bit.

What reporting is it that you are concerned about? On what form are you going to put someone's ID number?

--Peter

Mon Feb 23

NL

Boards Post

ptheland replied to the Humor and Urban Legends board. 8:46 PM

Re: AverageJoe's 702nd CaptionChallenge

The Global Alliance for the Rebuttal of Global Warming and Sea Level Rise meets for their 2015 convention.

NL

Boards Post

ptheland replied to the Building / Maintaining a Home board. 11:33 AM

Re: How not to replace a light switch

I should probably label the wires next time.

I hate messing with 3 way switches. I can never keep the theory of them in my head - I always have to look them up when dealing with them.

An alternative to labeling might be [more]

Sun Feb 22

NL

Boards Post

ptheland replied to the Tax Strategies board. 10:39 PM

Re: Shelters

Focusing on your refund or balance due is like looking at the change you get at a checkout register. You buy $33 of stuff and hand the cashier a $20 and conclude they're overcharging you. But buy the same stuff, hand the cashier a $100 bill and [more]

Sat Feb 21

NL

Boards Post

ptheland replied to the Improve the Fool board. 3:53 AM

Re: Ads Popping up over Post Lists

Ditto here. Looks like the ad feed is sending the wrong size ads. They're all square instead of rectangular.

Fortunately I only have to put up with it on my phone. Thank you ad block plus.

--Peter

Fri Feb 20

NL

Boards Post

ptheland replied to the Retirement Investing board. 8:00 PM

Re: RMDs Revisted

I don't understand your logic.

Where we work there are no fees on RMDs,


Withdrawal fees are definitely in the minority these days, but I'm sure there are still some out there. And it wouldn't surprise me if there are separate [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 2:46 PM

Re: How to drive your tax preparer crazy

You've just explained why I like technology.

There are no staples attaching documents to an e-mail. ;-)

--Peter

PS - Now if I could only get clients to stick with one format in an e-mail. Typically, 3 are scanned as jpg [more]

NL

Boards Post

ptheland replied to the Tax Strategies board. 2:42 PM

Re: Stock transfers to Roths

No. Contributions to an IRA must be in cash.

--Peter

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Big gold star, 5000 posts Top Recommended Fools Feste Award Nominee! Old School Fool
Board Posts 15457
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Recs to Posts Ratio (last 30 days) 20.60
Threads Started 610
Threads Started Percentage 3.95 %
Most Frequent Board Tax Strategies
Very First Post My Foolish (and foolish!) experience (11/4/1999)
Percentage of Posts Rec'd 55.79 %
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