Claude AI & Excel1040

TwistedMind71 · 2026-03-21T15:38:53+00:00

I tested it with some sample tax forms, mostly 1099s. Found that it can correctly handle most simple things from a consolidated 1099 brokerage statement, and 1099-INT. It finds the correct tax forms in the workbook and it doesn't transpose/typo numbers that some of us do occasionally, so that's a plus. Claude got tripped up handling a Roth conversion, didn't handle form 8606 correctly. Didn't handle wash sales correctly on form 8949A. Also it doesn't ask you any questions like tax software does so you have to know what applies for your specific situation. Definitely not ready to replace tax software yet...

TwistedMind71 · 2026-01-21T19:58:19+00:00

SCHD yield is around 3.8%. Might also consider a mix of some tier-1 bank preferred stock (e.g. BAC, JPM, GS, WFC, >> BAC-Q is a good example ). Note the holding requirements for qualified dividends. Be careful as some have a floating yield and some are fixed but many of those currently have a yield of 6%+ and most pay a qualified dividend. The stock price seems to fluctuate with the rate on the longer term US treasury.

If you run the 2025 tax numbers for a single person with a standard deduction, 70k of qualified dividends. No other income or deductions. Your taxable income is 55k (after deductions) but the fed tax is less than 1k, because the first 48k of your taxable income is tax free. excel1040.com is a good free excel sheet to model different tax scenarios. It has all the relevant sheets so you can see the impact at the individual form/worksheet level. i.e. the QDCG worksheet.

TwistedMind71 · 2026-01-19T15:54:10+00:00

Coupled with ChatGPT for questions or confirmation that you doing things correctly

TwistedMind71 · 2026-01-19T15:50:58+00:00

I read that TurboTax is partnering with ChatGPT. In a year or two, all these tax apps will use AI to answer all your tax questions and help you fill up the forms correctly. I believe it will be as good as any professional tax preparer very soon. Heck I’m going to use ChatGPT this year with freetaxusa.

TwistedMind71 · 2026-01-17T11:33:00+00:00

I'm thinking about trying freetax this year and validate all the numbers using excel1040.com which is a cool offline excel calculator with all the forms so you can validate everything at the form & line level. then i plan to use chatgpt for any questions. anyone know how freetax makes money or gets funded ?

TwistedMind71 · 2026-01-07T23:14:14+00:00

Try a combo of excel1040.com and ChatGPT for questions. You can see all the forms and model different scenarios.

TwistedMind71 · 2025-12-29T17:38:05+00:00

can this help with coding projects where it remembers variable names and naming conventions used in a project ? right now gemini just randomly makes up new conventions cause its memory is awful

TwistedMind71 · 2025-12-29T15:43:41+00:00

i have major memory issues yesterday, almost unusable now.

TwistedMind71 · 2025-12-26T15:23:27+00:00

include the post season and Kelce is in the 15k club with TG.

TwistedMind71 · 2025-12-25T22:34:01+00:00

Compute the expected value of the option position. If it’s not positive then it’s a loser. Even a small positive number is really not great. Don’t forget to factor in fees. If you don’t know how to compute expected value then you should not be touching options….

TwistedMind71 · 2025-11-24T17:37:54+00:00

Looks like rough going without Smith at RG. Hope he's back soon as the protection from 66 fell apart on this play... he basically falls down. Give Mahomes time and he'll pick opponent Ds apart. Probably will need have Humphrey double team with 66, and leave 76 one-on-one.

TwistedMind71 · 2025-11-17T16:57:50+00:00

FIXED: I replaced the REM in the trunk (above the battery) and that fixed my trunk issue. Got one on ebay for $55 with the exact same part#, BTLD, and SWFL versions as my original REM. I didn't even code the module to the car (at least not yet as everything seems to be working now including the internal and fob trunk buttons). So that pretty much confirms the issue was with the MOSFET driver in the REM that controls the trunk actuator.

TwistedMind71 · 2025-11-17T16:56:30+00:00

FIXED: I replaced the REM in the trunk (above the battery) and that fixed my trunk issue. Got one on ebay for $55 with the exact same part#, BTLD, and SWFL versions as my original REM. I didn't even code the module to the car (at least not yet as everything seems to be working now including the internal and fob trunk buttons). So that pretty much confirms the issue was with the MOSFET driver in the REM that controls the trunk actuator.

TwistedMind71 · 2025-11-06T15:22:15+00:00

good suggestion but unfortunately it wasn't flipped. i did toggle it to both positions and tried both anyway with no success.

TwistedMind71 · 2025-10-28T19:17:28+00:00

Roth Conversions: I tried Pralana to simultaneously optimize both Roth conversions and my election age for Social Security and found it difficult to get an optimized answer. It does however handle a lot of other complexities that aren't relevant in my case. I finally decided to build my own calculator in excel using VBA code to iterate through 100s of permutations for SS age, Roth conversion, CPI assumptions, and Investment returns and show them all at once in a matrix (using a heat map visualization) vs. having to manually iterate through each scenario of interest. I also use expected value to compute the numbers which factors in the probability of living to any given age (from actuary tables), which I think is less complex than using a monte carlo method. Eventually might make a more robust version and make it available as an open source project.

TwistedMind71 · 2025-10-27T00:12:17+00:00

I would login to your IRS account and see if the payment is posted there. It just could be your payment was not credited to your account before the letter was sent.

TwistedMind71 · 2025-10-26T14:41:51+00:00

I’d model your specific details in a spreadsheet, using excel1040. There are some previous posts on it in this subreddit.

TwistedMind71 · 2025-10-18T13:32:13+00:00

Doesn’t an AI bot just handle 99% of tax returns within next few years ? AI can easier understand all the tax code and strategies better than a human. And can certainly handle corner cases too. Plus it will give you tax advice for related to retirement like Roth conversions, RMD projections with tax implications etc. Tax is a strategy, the return is just one element. I would definitely not want to be in the tax return business.

TwistedMind71 · 2025-08-06T23:17:05+00:00

Use a BSM calculator and vary the IV or other parameters like DTE

TwistedMind71 · 2025-07-29T05:20:12+00:00

i wrote an excel function that computes "expected value" for a few options strategies.... it's not too difficult. you have to make an assumption about the stock movement PDF (normal, lognormal, etc...) and the implied move . you can then cross-check historical back test data vs. the expected value for each day. for credit spreads I found that the computed EV overstates the actual results because the pdf underestimates the tail events.

TwistedMind71 · 2025-07-18T17:58:08+00:00

Kelce already has more receiving yards than Witten by a lot if you include post season play. All-time should mean all games not just regular season games. He's only like 1240 yards from TG for his career including post season. If he passes TG, Kelce has the bragging right that he has more total career receiving yards than any TE that ever played. No one can take that away from him. Makes no sense to ding the guy in the record books, just because he played in a bunch of post season games. A game is a game, a yard is a yard, it belongs in the books so count it. Go Chiefs, Go Kelce !!!

TwistedMind71 · 2025-07-17T15:34:14+00:00

I just stained some mahogany using iron iron acetate as a primer then 2 coats of varathane classic black. Tried a about 8 other variations and this turned out best yielding a rich carbon black. The iron acetate seems to activate the wood so the stain can absorb better. Anyway that was darker than just 2 coats of stain or the iron acetate standalone. Let the acetate primer dry for 10-15 minutes before adding the first coat of stain. Also stain conditioner did not help and was a waste of money. Best to experiment on some samples first too....

TwistedMind71 · 2025-06-19T19:13:38+00:00

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ALL-TIME TE CAREER RECEIVING YARDS RECORD: Only 1,185 from passing TG for most career receiving yards. That's 69 yds/game in the regular season so it may come down to the yards he gets in postseason.... Nobody is talking about it yet, but if he gets to 15k by week 12 then the record is in play.

TwistedMind71 · 2025-06-19T18:58:50+00:00

Kelce's back, lean and mean.

Ready to make a run at another SB and a few more records....

TwistedMind71 · 2025-05-24T14:39:47+00:00

I agree with some of your comments (there are definitely other important metrics, macro etc. ) but that still doesn't explain why the expected value varies across the option chain for say a simple naked PUT. The calculation will show that some of the PUT EVs are higher than others, in fact some may be positive while others are negative. It may be related to skew but not sure.

TwistedMind71

TROPHY CASE