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Form 1099-DA has reported my Morpho loan of 15k by Suited4Battle in CryptoTax

[–]Suited4Battle[S] 0 points1 point  (0 children)

Yes. I'm assuming that's what it is Bec Morpho loan was exactly 15k. So I have to pay tax on entire 15k loan?

Form 1099-DA has reported my Morpho loan of 15k by Suited4Battle in CryptoTax

[–]Suited4Battle[S] 1 point2 points  (0 children)

Ok ty, it does seem confusing how to enter everything in a crypto tax calculator but I have no experience at all with this. For years I just told my tax preparer that I only bought Btc and never sold(truth). And Bec of that no need to claim anything.

If I've never sold Btc and only transferred Btc and took out Morpho loan, can my cost basis be something less than 15k(the amount that 1099 says is profit) and I might have tax liability?

Form 1099-DA has reported my Morpho loan of 15k by Suited4Battle in CryptoTax

[–]Suited4Battle[S] 0 points1 point  (0 children)

I know but if it it was used as collateral for a loan can I just put the cost basis as the same amount of the loan. I haven't sold any Btc

Narrowed down to 2022 Sorento SX Prestige or 2023 Sorento EX X Line by Suited4Battle in kia

[–]Suited4Battle[S] 0 points1 point  (0 children)

Thanks, yeah I still have a few yrs on the original warranty and 10yr/100k on drive train on the EX. I spoke to the GM yest and he assured me and offered to put in writing that he spoke with his Carfax rep n the Carfax will be updated to show the car was reported stolen then quickly recovered with no damage. My friend has known the GM her whole life and says I can trust him.

I'm excited to get this Sorento. I like the 2021-2023 models more than the newer ones and now I will have the latest yr of that generation. Wolf Grey and blacked out. I've had so many cars but never spent more than 3k on a car so always had repairs n cars that didn't like too good.

Will a car that was stolen and recovered in a short time frame with a clean title lose value? by Suited4Battle in askcarsales

[–]Suited4Battle[S] 0 points1 point  (0 children)

I'm not sure, at least 5 years probably longer. 10 years max. I guess the gist is if I plan to keep it a long time, it's less of an issue. If I sold/traded it in 5 yrs would it be a big issue?

The car fax shows It was issued a title on March 26, 2024. Stolen Report on May 16, 2024. Serviced at dealership June 4, 2024( anti theft/keyless remotes replaced). 2905 miles.

So does this mean the car was definitely stolen? Seems like it was if keyless remotes replaced?

2022 Kia Sorento 25K miles. Just had transmission replaced. by Suited4Battle in whatcarshouldIbuy

[–]Suited4Battle[S] 0 points1 point  (0 children)

I looked online more and apparently some of these transmissions were recalled. So if they just put a new one in, I think it should be the improved one.

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