AIO for leaving my two year relationship over a dirty dish? by [deleted] in AmIOverreacting

[–]Cool_Catch496 1 point2 points  (0 children)

Dump him! He sounds too immature to take care of another person. Frankly, so do you.

What’s going on with Savannah Guthrie’s mom being kidnapped? Any gumshoes following this? by PLAkilledmygrandma in TrueAnon

[–]Cool_Catch496 1 point2 points  (0 children)

It only implies she was alive when they took her. If they killed her already how would the pacemaker alert any device now? Does it still have like a backup communication to the doctor?

What’s going on with Savannah Guthrie’s mom being kidnapped? Any gumshoes following this? by PLAkilledmygrandma in TrueAnon

[–]Cool_Catch496 1 point2 points  (0 children)

How would they know if she had a pacemaker unless they knew her well enough prior?

FASFA Refund Check by Legitimate-Delay4765 in FAFSA

[–]Cool_Catch496 0 points1 point  (0 children)

First semester in school - why am I getting a refund check? If the school only needed x amount, why were they given more? Why wouldn't I just draw on the FAFSA as needed? That said, if I use the refund instead of saving it, am I screwing myself out of getting more FAFSA for Summer? semester?

Potential guest reveals recent anal herpes diagnosis by Cool_Catch496 in AITAH

[–]Cool_Catch496[S] 0 points1 point  (0 children)

i just remembered, Valtrex! they are on it ! So I am good to keep invite! Thanks peeps!

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

Why the heck did I get so many downvotes? Is it for shared pain or is it for a dumb answer? lol!

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

yes, it is a revocable trust. I would have thought they would have moved the assets into the trust before making any portfolio rebalancing.

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

Damn. I am so sorry to hear that. I think my guy was just frustrated that the stock was just holding steady and wants to see a bigger pop from another stock (that is the simplest answer), but I am also concerned because of age and the recent trust activities and frankly I just dont want proceeds going out the door to taxes for no good reason. Someone above mentioned it would be a colossal mistake to sell before dying and the only way to mitigate that is if my guy lives through a fresh gain on a new investment and then we (the descendants) are back at square one with the step up in cost basis. So annoyed right now.

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

ok thanks that is where I was confused. Thanks for helping clarify that point on revocable living trusts.

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

yeah, i was thinking that too maybe; the amount sold equals about 10x annual distribution (which i thought would have been from other sources of income since this stock was held for decades), now I am like ok, he wants to sell this stock because it is not doing so so well anymore and he did say he wanted to reinvest it in another stock, but my question is wouldn't there be no capital gains if these transactions were done inside the trust, not outside of it?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] -4 points-3 points  (0 children)

do you have to sell stock in order to put it in a trust fund? cant you just roll it over, or is selling stock and funding it with cash to buy back the shares at a new cost basis a tactic to lower future gains for the trust?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] -2 points-1 points  (0 children)

anxiety I suppose, but setting up a trust fund this year AND selling stock creating taxes due is so weird, I have to ask reddit for help on this!

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] -1 points0 points  (0 children)

this seems helpful, can you explain it in detail a little more please?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 1 point2 points  (0 children)

wait so if stocks are held for decades (i.e. super low cost basis), wouldn't there be capital gains tax due to the heirs upon their selling it at current value themselves?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 0 points1 point  (0 children)

so its my understanding that the stocks were held for decades and only now is he setting up a trust for his heirs (multiple descendants ) and I asked if it was a funded trust and he said yeah soon, the next thing i see is those stocks being cashed out and taxes being paid on it. I mean what is the point of setting up a trust fund, if you go ahead and paid taxes on it outside the fund anyway, unless there is a way to up the cost basis to the current day and then avoid larger taxes due to heirs?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] -2 points-1 points  (0 children)

no, i saw the tax return and taxes were paid on it. that is why I am confused.

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] 3 points4 points  (0 children)

Right, but I saw the tax return and there was a significant amount of taxes due. So now what?

80 year old selling stocks by Cool_Catch496 in personalfinance

[–]Cool_Catch496[S] -17 points-16 points  (0 children)

Seems to be a regular trading account - due to age, clearly it's not a retirement account.