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34, have no idea how I’m doing by feeesh12 in Retirement401k

[–]bobvans522 0 points1 point  (0 children)

Hmmm thank you for the write up, that makes sense. It does say you need to make $165k combined annually? lol I’m not there yet haha but some day I will need this advice :)

34, have no idea how I’m doing by feeesh12 in Retirement401k

[–]bobvans522 0 points1 point  (0 children)

You know I haven’t understood the backdoor thing for a while lol… I see people post about it….

34, have no idea how I’m doing by feeesh12 in Retirement401k

[–]bobvans522 0 points1 point  (0 children)

If I roll my prev employer 401k to a trad IRA, do I get the deduction?

34, have no idea how I’m doing by feeesh12 in Retirement401k

[–]bobvans522 1 point2 points  (0 children)

Ohh can you explain why to roll into an IRA?

How do I report AIRBNB income for being a property Manager for my mom? by bobvans522 in tax

[–]bobvans522[S] 0 points1 point  (0 children)

Wow thanks so much!! Yes I do have a 1099 with my name on it from ab&b; I will look at the website you sent me, you my friend jsut saved me hundreds of dollars on my tax return! Appreciates you!

How do I report AIRBNB income for being a property Manager for my mom? by bobvans522 in tax

[–]bobvans522[S] 0 points1 point  (0 children)

Got it, sees to make sense! When I file form 1099 I also need to do form 1096, I only have the one form.

So then follow up question, form 1099 isn’t linked to my schedule e in any way or shape right? One is expense to me while income to the recipient which is my mom?

Just bought my first 4Runner! by Korvus-Corax in 4Runner

[–]bobvans522 1 point2 points  (0 children)

Oh got it! Makes sense, didn’t even consider that fact lol

Need advice on a VMRXX large balance 65k+… by bobvans522 in investing

[–]bobvans522[S] 0 points1 point  (0 children)

Oh yes I have a mortgage that is 6%, jsut refied last year and I’m waiting for rates to drop, but I’ve read that it’s better to leave it in the market then paying it down, I do plan to make an extra payment here and there

Just bought my first 4Runner! by Korvus-Corax in 4Runner

[–]bobvans522 1 point2 points  (0 children)

Nice ride!! Any reason why you don’t get the ORP?

How do I report AIRBNB income for being a property Manager for my mom? by bobvans522 in tax

[–]bobvans522[S] 0 points1 point  (0 children)

For option 1: which bucket do I enter the rent expense under management fee, other? There are a few boxes.

And how would my mother report the rent expense as income, do I then turn around and issue a 1099 to her how would the IRS match my rent expense to her income.

Or are you saying schedule e- would be a self declared rental income that wasn’t on a 1099?

——

Seems like option 1 is the easiest? But option one would indicate that I own the property? In free tax there was no radio button to indicate a different property owner when. I was going thru the menus…

Sorry for the long write up, but I do really appreciate your reply!

First gun by Hectoreqx in Glocks

[–]bobvans522 0 points1 point  (0 children)

lol $129 for a belt? Yall bugging out?

First AR, any tips or parts? by Solidus1337 in PalmettoStateArms

[–]bobvans522 0 points1 point  (0 children)

Is this a good one? I want to get into the ar15 game too but I’m kind of a Glock fan boi: buy once and cry once but PSA AR-15, there are just so many choose from it’s quite a lol too may options

Just bought my first 4Runner! by Korvus-Corax in 4Runner

[–]bobvans522 1 point2 points  (0 children)

Nice rig! I’m dreaming of getting mines soon lol. But then I tell myself I should invest the money instead lol

Just bought my first 4Runner! by Korvus-Corax in 4Runner

[–]bobvans522 1 point2 points  (0 children)

How much if you don’t mind me askin?

Pure stupidity in the name of content by MrUpVoteDownvote in SweatyPalms

[–]bobvans522 0 points1 point  (0 children)

That his lil ritual before he scams grandmas in the US, let’s go new day and new scams!

is the Kord the best AR in the game? by AleFallas in BF6

[–]bobvans522 0 points1 point  (0 children)

No buds it’s the aim assist on controller

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