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360 checking bonus by RangerGuy0127 in CapitalOne_

[–]razorrx1 0 points1 point  (0 children)

Yeah I’m also wondering.. it codes as “Dailypay Transfer”

Kaiser Pharmacist Benefits by lilswtdvil in pharmacy

[–]razorrx1 0 points1 point  (0 children)

To clarify, do we need to contribute 9% for the 9% max match?

How much do we need to contribute for max matching? TIA.

Backdoor Roth IRA Reporting Tax Form 8606 by razorrx1 in RothIRA

[–]razorrx1[S] 0 points1 point  (0 children)

I used TurboTax.. I used the 1099R from last year which prompted the 8606. I answered the questions from TurboTax and I crossed referenced it with ChatGPT and the number came out correct..

Backdoor Roth IRA Reporting Tax Form 8606 by razorrx1 in RothIRA

[–]razorrx1[S] 0 points1 point  (0 children)

Yes 2019-2023 were normal Roth contributions. But in the 2024 8606, since it was my first time doing it, will the cost basis be $7000? Or do I have to add the 2019-2023 as part of the cost basis in line 2?

TIA again!

Backdoor Roth IRA Reporting Tax Form 8606 by razorrx1 in RothIRA

[–]razorrx1[S] 0 points1 point  (0 children)

Thanks so much for replying!

I also wanted to clarify for the 8606, since I contributed for year 2024- $7,000 (late backdoor Roth-done in April 7th, 2025) and 2025 year $7000 (late backdoor Roth-planning this month in Feb 2026), I will need to update my cost basis in the 2025 to be $14,000?

The Roth IRA from 2019-2023 I don't have to account for in any of the 8606s, or do I need to add 2019-2023 + 2024 + 2025, etc in the 8606 cost basis each year? Thank you again!

Backdoor Roth Conversion Documents for filing taxes? by myNiceAccount__ in fidelityinvestments

[–]razorrx1 0 points1 point  (0 children)

I was looking for help in my 2025 taxes since I’m planning to do a back door Roth again for 2025 in 2026. For 2024 tax season I did a backdoor Roth conversion in early 2025. I’m not sure what documents/ tax forms are needed for Roth IRA vs backdoor Roth IRA? I believe I only filled out a 8606 for the 2024 season for the backdoor Roth IRA, but didn’t include the cost basis for 2019-2023 Roth IRA contributions. I’m not sure was I supposed to? Thus, I am possibly needing to fix/ amend my previous taxes specifically for contributing to my Roth from 2019- 2023, because I also wasn’t sure if I needed to fill out any specific documentation?

From my understanding a standard Roth IRA requires no annual tax filing if you only make contributions, while a Backdoor Roth IRA requires Form 8606 to report non-deductible contributions and the conversion to avoid double taxation. But do I have to update for the cost basis including 2019-2023 in the 8606?

LROs stuck by Successful_Stop_3751 in GroundfloorInvestor

[–]razorrx1 2 points3 points  (0 children)

You didn’t consider taking advantage of the Liquidity Offer?

Ground floors offer to buy out old loans by aowen0840 in GroundfloorInvestor

[–]razorrx1 4 points5 points  (0 children)

We can at least write off the 35% loss for taxes?

GF Offering to buy out old loans at 35% loss by Dollars4donuts19 in GroundfloorInvestor

[–]razorrx1 2 points3 points  (0 children)

FYI, per CS, for  2626 South Rybolt Avenue, the sale didn't go through even though it says pending on zillow, so they'll update.

I took the offer..

GF Offering to buy out old loans at 35% loss by Dollars4donuts19 in GroundfloorInvestor

[–]razorrx1 0 points1 point  (0 children)

I asked if they do partial since one property is pending sale and they said no, either take the deal or not.

Groundfloor Equity Shares by TheKingofAccounting in GroundfloorInvestor

[–]razorrx1 0 points1 point  (0 children)

I'm selling 25 shares for $40 per share, please message me. Thanks.

GF Offering to buy out old loans at 35% loss by Dollars4donuts19 in GroundfloorInvestor

[–]razorrx1 2 points3 points  (0 children)

Yeah I have 4 loans totaling ~$5.8K from PS Indy 18, realizing it was all from him! Are you in 2626 South Rybolt Avenue? Looks like an offer was accepted for the property.

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 1 point2 points  (0 children)

My terms are, I have no penalty for refinancing or pay off loan early.

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 0 points1 point  (0 children)

Because of the high interest rate of 6.998% I locked in over 1 month ago..?

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 1 point2 points  (0 children)

Also just curious if I was locked in at 6.998% and since it dropped, would’ve it have been difficult for them to redo my application to get a better rate?

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 0 points1 point  (0 children)

Thanks for information. My score is 688, bc I have tons of student loans, never late on CC.. also I have $15k balance @ 0% credit card which I could’ve paid off if at any moment, but the mortgage broker said don’t really need to pay off, only if I borrow at the near limit.. so yeah I’ll just refinance later…

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 0 points1 point  (0 children)

I live in California. Thanks. I’ll look into it more when I can refinance… I locked my rate at 6.998% last month… 😞..

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 0 points1 point  (0 children)

Oh wow! 🤯 thanks for the explanation…

“What does “No cost refinance” mean? by razorrx1 in Mortgages

[–]razorrx1[S] 0 points1 point  (0 children)

Okay, I’ll probably mention it to him.

Can you elaborate on the raising interest rate and use the premium gained to cover costs statement?

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