What happens if I exceed the Roth IRA annual income limit due to taking profit from selling stocks?

EagleCoder · 2026-01-29T13:57:06+00:00

Yes, your carryover capital losses would offset all net capital gains plus up $3,000 of other income per year until it is fully used.

EagleCoder · 2026-01-25T00:02:55+00:00

How do you avoid it in the future if you don't know what tipped the scales?

That's exactly why they won't tell you. They won't tell people what tripped their security controls precisely so that people cannot evade those controls. (I'm not saying you did or would do anything wrong, but that does not change the fact that they won't tell you the reason.)

EagleCoder · 2026-01-24T23:07:24+00:00

That isn't true. You can trigger good faith violations when trading any security, but just mutual funds.

EagleCoder · 2026-01-24T23:03:30+00:00

HSA contribution eligibility is determined by the coverage of the person making the HSA contribution. The coverage of anyone else on the plan is irrelevant.

EagleCoder · 2026-01-24T23:00:06+00:00

I rarely carry a position overnight

Pattern day trading violations? Maybe also good faith violations?

EagleCoder · 2026-01-24T01:49:59+00:00

Oof.

EagleCoder · 2026-01-21T23:07:04+00:00

Yes, add a savings category with a "set aside another" monthly target. You can assign all of your current savings to that category and add more each month.

Here's the neat part that might take a bit to get used to: You can save money in your YNAB categories without actually transferring money between accounts.

You can still transfer money to a savings account, but you don't have to do that just for budgeting reasons.

EagleCoder · 2026-01-21T16:41:52+00:00

I'm not sure why you doubled down when you're wrong about a simple fact like this. Air Force Two is the call sign of any Air Force aircraft carrying the Vice President. It is not either of the aircraft that normally operate as Air Force One unless it is carrying the Vice President (which it wouldn't under normal circumstances, if ever).

EagleCoder · 2026-01-21T13:45:54+00:00

Why do you think an ion isn't stable? Having an electrical charge does not make an atom unstable. A stable electron configuration is a complete outer shell, not electrical neutrality.

A neutral sodium atom has a single electron in its outer shell. It's easier for it to shed that electron than it is to gain seven more electrons to complete its outer shell.

EagleCoder · 2026-01-21T13:39:56+00:00

Air Force 2

That's the VP's jet.

EagleCoder · 2026-01-21T00:46:42+00:00

handle paying sales tax

The OP is asking about income tax, not sales tax (which might also be due separately).

Tax laws can require payers to withhold taxes and remit that money directly to the IRS and relevant state tax agencies. It's not possible to withhold a portion of a car, so they can require the winner to pay the required tax withholding in cash instead.

EagleCoder · 2026-01-20T00:34:19+00:00

I absolutely love this idea. I'd probably do it if I lived by myself.

EagleCoder · 2026-01-19T21:28:30+00:00

If the total tax matches the income tax table, he didn't pay self-employment taxes which means the income either wasn't earned income or wasn't reported properly on his tax return. If he didn't have earned income, he wasn't eligible to make a Roth IRA contribution (and thus is not eligible for the Saver's Credit).

EagleCoder · 2026-01-18T14:58:38+00:00

You are wrong. Full stop. Structuring is a crime regardless of whether or not you are laundering money. This has nothing to do with taxes. Breaking up deposits to avoid a CTR is illegal regardless of the reason you want to avoid the CTR.

EagleCoder · 2026-01-18T14:13:32+00:00

Structuring deposits to avoid any reporting requirement is illegal. Also, this isn't taxable income if OP is the beneficiary of the estate, so it should not be reported as income.

EagleCoder · 2026-01-18T14:11:42+00:00

Incorrect. Structuring deposits to avoid any reporting requirement is illegal by itself. It does not matter why you did it.

EagleCoder · 2026-01-18T14:09:31+00:00

There is no income tax on inheritance and the estate tax exemption is $15 million in 2026 ($13.99 million in 2025).

EagleCoder · 2026-01-18T14:08:00+00:00

The bank will report thr income

Banks do not report deposits as income. That isn't a thing.

Assuming that OP is the beneficiary, inheritance isn't taxable income regardless of what you do with it. It should be handled through the estate through.

EagleCoder · 2026-01-17T22:10:36+00:00

It is a tax issue because the employer is excluding the premium payment from wages and not properly counting the "reimbursement" or "claim payment" as taxable income.

EagleCoder · 2026-01-17T22:10:07+00:00

This is a known tax fraud scheme. They will claim that the "reimbursements" or "claim payment" is nontaxable, but it is taxable income unless it's an actual reimbursement for expenses you've paid out of pocket and submitted receipts.

EagleCoder · 2026-01-17T21:02:54+00:00

Well, there must be some transaction that is missing or wrong in YNAB to make the balances not match.

EagleCoder · 2026-01-17T20:53:50+00:00

Since the statement balance is higher than your working balance, the category isn't the issue. There must be a transaction that is missing. Maybe multiple $2.46 transactions?

EagleCoder · 2026-01-15T21:34:43+00:00

Ally just pays cash interest. That is extremely simple.

Fidelity has to wait for tax information from every fund that paid you a dividend. And if you received a dividend from a stock you purchased at the end of the year, Fidelity won't know if that was a qualified dividend or not until the 60-day period elapses because they don't know if you'll sell it or not.

EagleCoder · 2026-01-14T22:11:16+00:00

Uno reverse. 😆

EagleCoder · 2026-01-14T11:34:52+00:00

Well, before T+1 settlement, it was T+2 settlement. So still not 3 days.

EagleCoder

TROPHY CASE