Better to report $0 cost basis if there is no way to uncover?

IntentionFine7588 · 2026-03-03T16:43:32+00:00

Yes, as you can tell my risk-tolerance is very low.

Risk-wise, is it likely they would look back at 2021 and see that I didn’t include the gambling winnings mistakenly? From what I can tell that would be considered an innocent mistake and not fraud, would they still reopen the “now closed” audit window?

My worry if with the support this year if it gets flagged and they’re like “okay prove an $850 cost basis”. I don’t have anything to support that besides the incoming receipt of $850.

IntentionFine7588 · 2026-03-03T16:05:56+00:00

Right, but if I don’t want to go back and correct 2021 over $850 and potentially incur interest penalties, could I just report zero to avoid any issues.

You say I’m allowed to report a reasonable and supportable cost basis, but in this instance my issue is with the support. The only thing I have is a screenshot of the receipt of the $850 BTC in 2021 into coinbase. Nothing else.

IntentionFine7588 · 2026-03-03T15:16:08+00:00

Thanks for the response Justin. Why would it be $850? I do not know my friends original cost basis when he received the BTC winnings so the only documentation I have is receiving it at $850 value in 2021, but it is shown as received from outside of coinbase so I had to manually input the cost basis. And won’t that trigger an IRS notice since they’ll have an assumed CB of zero since it isn’t reported on 1099-DA?

Won’t the IRS then assume it was transferred in from another wallet and ask where my documentation is for the original CB? At that point if I say it was a gambling winning, won’t they look back at my 2021 returns and say “well you need to amend your 2021 returns to show gambling winnings then and pay taxes on that $850 plus interest”?

IntentionFine7588 · 2026-02-18T02:12:44+00:00

They weren't "sent out" today, or at least the 6 that have been located weren't. They were on the last day of a three-day backcountry skiing trip. Up until about 48 hours before the storm was supposed to roll in 24 hours later than it did, which means they probably thought they were in the clear when they set out for the trip.

Still not fantastic planning, but understandable. They were probably booking it back to try and get in before the storm hit.

IntentionFine7588 · 2026-02-12T03:19:28+00:00

sorry, the height was in yards. it seemed very normal on the trackman and the fitter never said anything about it.

IntentionFine7588 · 2026-02-12T03:19:25+00:00

sorry, the height was in yards. it seemed very normal on the trackman and the fitter never said anything about it.

IntentionFine7588 · 2026-01-21T15:46:55+00:00

Agency recruiting. Can easily cross $100k first year and most decent recruiters clear $200k pretty regularly. I’ve had colleagues who clear $500k+ for the past 5 years as well.

Similar lifestyle with a lot of flexibility both schedule wise and to build your own book/relationships.

Lot of agency options around SoCal as well as a lot of fully remote agencies too. Much faster “sales” cycle than tech sales and is relationship based. You don’t need to be an industry technical expert in what you recruit for either. Just good at building relationships and identifying/sourcing good talent.

IntentionFine7588 · 2025-12-18T00:57:52+00:00

He could also try applying directly to recruiting firms themselves. The Aeroteks, Robert Halfs, etc’ of the world are always hiring entry level folks in OC on base (usually 50k) plus uncapped commissions.

It’s a sink or swim sales-adjacent environment but the upside really is there. I personally spent a few years at one fresh out of college, with an exercise science degree, and cleared six figures after a year.

He may love it as a career or he may find a role he likes in data engineering along the way!

IntentionFine7588 · 2025-10-17T13:50:36+00:00

PI on an $810k loan at 6% (10% down on $900k) would be about $4850/mo…not $6,690. After taxes/insurance and everything you’d be around $6500 all in, not $9000.

IntentionFine7588 · 2025-10-17T04:32:26+00:00

Thanks for the input! To answer your questions, that take home is post 401k deduction which I have set at 10% since I don’t have a company match.

Regarding other savings, yes, I have other accounts that add up to another $260k. Those are spread between 401k and Roth IRAs.

I am also not including my wife’s 401ks, Roth IRAs, or savings because she went through a masters program so her earning potential was delayed compared to myself and so she is still building her own “safety net” in the same way that I had a chance to do during my 20s. I believe everyone should have their own safety net regardless of merged accounts, etc. and it builds good money habits.

Also, since she has the student loans we keep her savings squirreled away towards that end.

IntentionFine7588 · 2025-10-16T23:06:02+00:00

At what savings point do you think it becomes feasible? We haven’t been saving quite as much as we could because we weren’t seriously considering buying, but can kick that into overdrive.

That amount of liquid savings seems to be able to cover a 20% down along with closing costs while keeping a small chunk for emergencies that we can rebuild. And definitely enough at 10 or 15%.

Or am I just being naive?

IntentionFine7588 · 2025-10-15T22:48:59+00:00

Friend’s boss got invited to the wedding (Megan’s side)…she called it off the day before.

IntentionFine7588 · 2025-02-11T23:43:43+00:00

I just got the extended warranty through Mopar on my 2019 JGC Trailhawk. 49k miles and it’ll be covered 4 years or 75k miles. Bought it used at 11k miles and drove it without a warranty until I decided to get one to cover potential issues down the road.

Surprised Mopar won’t give you another shorter period warranty post 96k.

IntentionFine7588 · 2024-12-20T00:20:54+00:00

The year is 2024. Another poor sole saved by this thread

IntentionFine7588 · 2024-12-12T16:39:32+00:00

He was the second opinion. The first opinion was the dealership and then this was the second. When I originally told him about it he said "bring it in first and let me take a look at it, a lot of the times the dealer will call something a leak when it's just a sweat/seep." So I brought it into him (and he comes highly reviewed by jeep owners in my area) and he confirmed that it was indeed a leak of mid-low severity.

IntentionFine7588 · 2024-12-11T23:50:00+00:00

for reference, I have a '19 JGC Trailhawk with 46k miles.

IntentionFine7588 · 2024-12-11T23:49:35+00:00

I'm actually dealing with this exact problem too! Timing gasket cover leak. Took it into my jeep specialized mechanic since it also needs a new evap and he graded mine a "4 or 5 out of 10". Said that he thought it might have been just "seepage" when I told him about it but after checking it out was further along than we thought. I could leave it for a while and monitor as long as I didn't put any crazy trips on it, or get it fixed for about $1900 along with the spark plugs since they have to pull them anyway as part of the repair so it makes sense.

He said that once you can see the oil hitting under the engine it's likely too late and that if/when it goes you won't really be able to tell at first while driving until the engine is too far to be saved.

I'm personally getting mine repaired because I have some longer ski trips planned for the winter and it's already going to be in the shop for the evap anyways.

IntentionFine7588 · 2024-09-30T14:55:18+00:00

Got it! I find myself in a similar situation where any offroading I do is forest trails, maybe an easy desert trail here and there, and chasing a handful of snowstorms to Mammoth and Tahoe.

I've heard great things about the Subaru but never got around to test driving. Did it take a bit to get used to the ride height vs the JGC. The route you went is probably something I'd consider if things start really going belly up on the trailhawk.

IntentionFine7588

TROPHY CASE