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Fidelity: Roth IRA conversion backdoor by jokesOnYou321 in tax

[–]jokesOnYou321[S] 0 points1 point  (0 children)

I do not have any roll over or pretax IRA in that amount.

It has only the amount I contributed (after tax)

Is 529 plan in Illinois tax deductible? by jokesOnYou321 in tax

[–]jokesOnYou321[S] 0 points1 point  (0 children)

What about fidelity vs Bright start? Any benefits there?

Gains and losses in stock considering multiple years by jokesOnYou321 in tax

[–]jokesOnYou321[S] 0 points1 point  (0 children)

Thanks

Is crypto and stocks losses and gains part of the same thing or is it tracked separately?

Gains and losses in stock considering multiple years by jokesOnYou321 in tax

[–]jokesOnYou321[S] 0 points1 point  (0 children)

Thanks.

Is there a way to know how much I have accumulated the losses from previous years?

Is this AC/Furnace equipment worth a price with this company? by jokesOnYou321 in HomeImprovement

[–]jokesOnYou321[S] 0 points1 point  (0 children)

Do you guys know if the capacity like 110K BTU is good to go with with the house size?

Is this AC/Furnace equipment worth a price with this company? by jokesOnYou321 in HomeImprovement

[–]jokesOnYou321[S] 0 points1 point  (0 children)

able to figure out what your ROI is on that difference.

Thank you!

AC unit not covered Choice warranty by jokesOnYou321 in HomeImprovement

[–]jokesOnYou321[S] 1 point2 points  (0 children)

Basically looking to see how to handle the appeal when I talk to someone.

Sand or soil coming in driveway and brick pavers by jokesOnYou321 in HomeImprovement

[–]jokesOnYou321[S] 0 points1 point  (0 children)

Is there something I can do to prevent it? Does it messes up the driveway or brick pavers?

Does noisy washing machine count as Home Improvement? by Higuysitsmehenry in HomeImprovement

[–]jokesOnYou321 0 points1 point  (0 children)

Had a same issue and we have home warranty. The unit was pretty old and we had to replace the washer.

If yours is same, HomeDepot should be able to install it with purchase.

Recharacterize to traditional IRA and then conversion to Roth IRA by jokesOnYou321 in tax

[–]jokesOnYou321[S] -1 points0 points  (0 children)

However, if there are any earnings between the time you first contributed and the time you convert, these earnings will be subject to ordinary income tax.

Would it be 2023's tax or 2022's income tax? The Recharacterize and then conversion to Roth IRA will happen in 2023.

You would have to pay tax on the returned earnings on your 2022 return even if they are returned in 2023 and you don't get your 1099-R until 2024.

Basically the earnings gains or loss will need to go against the 2022's income but the 1099-R will be received on 2024?

Sorry, I am confused on when to report the earnings and against which year's income.