I bought a house in 2008. My mortgage is for $75,000.
I owe $69,000.
I plan to move in 2-3 years, after my wife graduates college.
Its financed at 6% interest currently.
Is it worth it for me to refinance?
And, if so, are there any no cost refinance options available? My bank sent me a bunch of paperwork about it, I sat down with a loan officer, but turns out they wanted 20% of the loan already paid off.
Are there any no or low cost options available to me?
AsylumBoy said: I See other people are being offered 50,000 Citi Thank You Points on their Preferred card. I am only being Offered 40,000 Should I take this Personally? If you want to take it personally, it is your choice; Citi is not going to be bothered one bit
AsylumBoy said: I See other people are being offered 50,000 Citi Thank You Points on their Preferred card. I am only being Offered 40,000 Should I take this Personally?
I read that you can claim the fees from vehicle registration on your taxes as a personal property tax if the fee is based on a percentage of the vehicle's value. How do I find out if the amount for vehicle registration is based on the vehicle's value?
NonReturnable said: I bought a house in 2008. My mortgage is for $75,000.
I owe $69,000.
I plan to move in 2-3 years, after my wife graduates college.
Its financed at 6% interest currently.
Is it worth it for me to refinance?
And, if so, are there any no cost refinance options available? My bank sent me a bunch of paperwork about it, I sat down with a loan officer, but turns out they wanted 20% of the loan already paid off.
Are there any no or low cost options available to me?
What's the value of the house? And how far away are you from 20%? I ask this because it does make sense to refi especially at if you can save between 2-3% on your interest expense. PenFed.org has a no fee refi, but you need 20% down or may have to pay PMI.
Usorry said: NonReturnable said: I bought a house in 2008. My mortgage is for $75,000.
I owe $69,000.
I plan to move in 2-3 years, after my wife graduates college.
Its financed at 6% interest currently.
Is it worth it for me to refinance?
And, if so, are there any no cost refinance options available? My bank sent me a bunch of paperwork about it, I sat down with a loan officer, but turns out they wanted 20% of the loan already paid off.
Are there any no or low cost options available to me?
What's the value of the house? And how far away are you from 20%? I ask this because it does make sense to refi especially at if you can save between 2-3% on your interest expense. PenFed.org has a no fee refi, but you need 20% down or may have to pay PMI.
I had it appraised 18 months ago for 75k with a drive-by inspection.
I have added a lot to the house (HVAC (it used to have baseboard heat), new floors, new kitchen, that sort of thing) but I'm not done, so a walk through inspection would see unfinished drywall and rooms where I've not finished the floors yet.
Hi All. To be honest, and a little embarassing, is that we do not have a will or any of the other legal forms that we should probably have. Ours is a simple situation, assets are not complicated, children are grown. No previous spouses
Today Plum District is offering half-price legal document package from US Legal Forms. $30 for $60 value, state specific. As stated: You'll get the Legal Life Documents Personal Planning Package from US Legal Forms. The documents in this package are State Specific and include the following forms: Last Will; General Durable Power of Attorney; Statutory Durable Power of Attorney for Health Care; Statutory Living Will; Estate Planning Questionnaire and Worksheets; Personal Planning Information and Document Inventory Worksheets.
I assume that this package would do it for us, would like opinions however!! Thanks in advance
Due to extreme negligence my credit has plummeted over the last few years and I am finally trying ro rebuild it. I just checked my Equifax report and I see two negative reports. One a charge off of $206 from Chase bank with a date of last activity of 1/2010 and the other a late payment from Nov of 2006, which I assume will be dropping off pretty soon?
The Chase account is CLOSED OFF by creditor. Does that mean I can do nothing about this now? Can I call Chase and pay what I owe and improve the status a little?
Also, I moved out of Nevada a while ago and apparently Cox communications said I owed them money for equipment. I disputed this, since it was not the case but I could not prove it due to lack of records. Anyway they sent it to collection while I was trying to find records and I eventually paid the collection agency, but again I was wondering if there was anything else I could do here.
Thisiswhaticanafford said: Hi All. To be honest, and a little embarassing, is that we do not have a will or any of the other legal forms that we should probably have. Ours is a simple situation, assets are not complicated, children are grown. No previous spouses
Today Plum District is offering half-price legal document package from US Legal Forms. $30 for $60 value, state specific. As stated: You'll get the Legal Life Documents Personal Planning Package from US Legal Forms. The documents in this package are State Specific and include the following forms: Last Will; General Durable Power of Attorney; Statutory Durable Power of Attorney for Health Care; Statutory Living Will; Estate Planning Questionnaire and Worksheets; Personal Planning Information and Document Inventory Worksheets.
I assume that this package would do it for us, would like opinions however!! Thanks in advance
I am not familiar with that package specifically, but your situation seems pretty basic, so it would probably be adequate. I like the Quicken Willmaker program put out by Intuit and Nolo Press. It is available from Costco right now for $45.99 including shipping. Link The reason I like the Willmaker program is that it walks you through the process. You are prompted to enter in all the relevant info, and when you are done, you print it out.
As far as I can see, the US Legal Forms are Word documents, which may not have as much extra help as other methods.
The topic of estate planning and wills has come up before on FW. Often it is suggested that it may be worth the extra expense to have a lawyer review the documents that you prepare. I don't think everybody needs to do this, but I think that there are cases where, even with relatively simple estates, it would be worthwhile to have a lawyer look over the documents to make sure they are accomplishing what they were intended to accomplish.
Due to extreme negligence my credit has plummeted over the last few years and I am finally trying ro rebuild it. I just checked my Equifax report and I see two negative reports. One a charge off of $206 from Chase bank with a date of last activity of 1/2010 and the other a late payment from Nov of 2006, which I assume will be dropping off pretty soon?
The Chase account is CLOSED OFF by creditor. Does that mean I can do nothing about this now? Can I call Chase and pay what I owe and improve the status a little?
Also, I moved out of Nevada a while ago and apparently Cox communications said I owed them money for equipment. I disputed this, since it was not the case but I could not prove it due to lack of records. Anyway they sent it to collection while I was trying to find records and I eventually paid the collection agency, but again I was wondering if there was anything else I could do here.
TYIA
Go to http://creditboards.com and ask them what to do. There are people there that are very good at this sort of thing.
Are the "daily interest charges" item on HUD-1, which is paid at the time of closing, tax deductible? I refinanced towards the end of last year and that is the only interest I have paid to the lender in that year. I did not receive any 1098 from that lender.
How do people go about opening a bunch of credit cards for their bonuses? Similar to an AOR where you do a bunch at one time? Or do you spread it out all year long?
I just started getting into this, and it seems like I could do at least five right now (all from different issuers). But I'm unsure if that's too many.
pktiwary said: Are the "daily interest charges" item on HUD-1, which is paid at the time of closing, tax deductible? I refinanced towards the end of last year and that is the only interest I have paid to the lender in that year. I did not receive any 1098 from that lender.
The prepaid interest is tax deductible. You would have only received a 1098 from your new lender if total interest paid in 2011 was greater than $600.
NonReturnable said: Usorry said: NonReturnable said: I bought a house in 2008. My mortgage is for $75,000.
I owe $69,000.
I plan to move in 2-3 years, after my wife graduates college.
Its financed at 6% interest currently.
Is it worth it for me to refinance?
And, if so, are there any no cost refinance options available? My bank sent me a bunch of paperwork about it, I sat down with a loan officer, but turns out they wanted 20% of the loan already paid off.
Are there any no or low cost options available to me?
What's the value of the house? And how far away are you from 20%? I ask this because it does make sense to refi especially at if you can save between 2-3% on your interest expense. PenFed.org has a no fee refi, but you need 20% down or may have to pay PMI.
I had it appraised 18 months ago for 75k with a drive-by inspection.
I have added a lot to the house (HVAC (it used to have baseboard heat), new floors, new kitchen, that sort of thing) but I'm not done, so a walk through inspection would see unfinished drywall and rooms where I've not finished the floors yet.
PenFed does full walkthroughs. If those items aren't finished, that will go against the appraised value. But you should call them up and see what the savings will be.
I'm trying to build my credit since I've used cash most of my life. I just applied for a Chase Freedom card and was completely declined for a judgement which is 6 years old--a BS medical service which I fought pro se and lost. I have 3 checking accounts with Chase, my TU FICO is 710, EQ FICO is 727 and EX PLUS is 750. I have zero late payments, I have two other cards with over $2k limits, I have a house that's paid for with no liens and I earn $110k/yr. Can someone please explain to me what the heck is going on and what kind of qualifications a person needs these days in order to get a credit card with Chase?
BayesFormula said: How do people go about opening a bunch of credit cards for their bonuses? Similar to an AOR where you do a bunch at one time? Or do you spread it out all year long?
I just started getting into this, and it seems like I could do at least five right now (all from different issuers). But I'm unsure if that's too many. For the most part, one doesnt get several good offers at the same time and one applies as they come along. If you have five right now, prioritize them and apply them for them accordingly. If you have a good credit history lasting several years and carry a number of cards already, a few applications close together would not raise any questions.
Hello i am new here. I am Carmen Cohan and i have faced some financial difficulties. I want to share something about that. I hope we will great fun together.
I pay my property tax through (mortgage) escrow. For the Winter 2011 tax payment, my servicer (CitiMortgage) shows on statements that they paid on 12/08/2011. The Winter tax is also included on the summary section below my 2011 1098 (not officially part of the 1098 I think?). My township however shows it as paid on 01/06/2012. Where does this put me with regards to property tax itemized deduction on my federal return? There's always been a delay between my servicer sending a tax payment and it posting, but I've never had it cross the year boundary before. Is one of these (either the servicer's statements/summary below 1098 or the township's posting date) binding/authoritative or does the situation leave me with the flexibility to choose which year I count it in? And just out of curiosity, would whatever the answer is also be the same if i had sent the payment myself on 12/08 and the township applied it on 01/06? Thanks!
psm321 said: I pay my property tax through (mortgage) escrow. For the Winter 2011 tax payment, my servicer (CitiMortgage) shows on statements that they paid on 12/08/2011. The Winter tax is also included on the summary section below my 2011 1098 (not officially part of the 1098 I think?). My township however shows it as paid on 01/06/2012. Where does this put me with regards to property tax itemized deduction on my federal return? There's always been a delay between my servicer sending a tax payment and it posting, but I've never had it cross the year boundary before. Is one of these (either the servicer's statements/summary below 1098 or the township's posting date) binding/authoritative or does the situation leave me with the flexibility to choose which year I count it in? And just out of curiosity, would whatever the answer is also be the same if i had sent the payment myself on 12/08 and the township applied it on 01/06? Thanks!
Individuals are considered cash basis taxpayers. Considering you were out the cash in 2011, I would think you would claim the deduction in 2011. I would agree with your last analogy. . .it doesn't matter when they paid it, but when they applied it. This is just my guess though. HTH!
EDIT: Actually, after re-reading your post and reading Publication 530, it specifically states "Many monthly house payments include an amount placed in escrow (put in the care of a third party) for real estate taxes. You may not be able to deduct the total you pay into the escrow account. You can deduct only the real estate taxes that the lender actually paid from escrow to the taxing authority. Your real estate tax bill will show this amount."
In another spot it says you can only deduct what the mortgage company paid that year. The mortgage company released the money in 2011, so I would think that you can deduct it in 2011. I think it's just more important that you don't ALSO deduct it in 2012.
DrWu said: psm321 said: I pay my property tax through (mortgage) escrow. For the Winter 2011 tax payment, my servicer (CitiMortgage) shows on statements that they paid on 12/08/2011. The Winter tax is also included on the summary section below my 2011 1098 (not officially part of the 1098 I think?). My township however shows it as paid on 01/06/2012. Where does this put me with regards to property tax itemized deduction on my federal return? There's always been a delay between my servicer sending a tax payment and it posting, but I've never had it cross the year boundary before. Is one of these (either the servicer's statements/summary below 1098 or the township's posting date) binding/authoritative or does the situation leave me with the flexibility to choose which year I count it in? And just out of curiosity, would whatever the answer is also be the same if i had sent the payment myself on 12/08 and the township applied it on 01/06? Thanks!
Individuals are considered cash basis taxpayers. Considering you were out the cash in 2011, I would think you would claim the deduction in 2011. I would agree with your last analogy. . .it doesn't matter when they paid it, but when they applied it. This is just my guess though. HTH!
EDIT: Actually, after re-reading your post and reading Publication 530, it specifically states "Many monthly house payments include an amount placed in escrow (put in the care of a third party) for real estate taxes. You may not be able to deduct the total you pay into the escrow account. You can deduct only the real estate taxes that the lender actually paid from escrow to the taxing authority. Your real estate tax bill will show this amount."
In another spot it says you can only deduct what the mortgage company paid that year. The mortgage company released the money in 2011, so I would think that you can deduct it in 2011. I think it's just more important that you don't ALSO deduct it in 2012.Thanks for the reply. There's just one part where I'm confused: where you say "I would agree with your last analogy. . .it doesn't matter when they paid it, but when they applied it." is that the reverse of what you meant or do you actually mean that because that seems the opposite of the rest of the post. Thanks!
titan01 said: can i write off professional membership fees on my taxes?
what about professional license exams? You want to read Chapter 28 or IRS Pub 17 for explanation and examples of "Miscellaneous Deductions", which is where these fall under. In general, you may be able to deduct professional membership fees but professional license exams probably falls under "Professional Accreditation Fees" and is explicitly disallowed.
Note however that only miscellaneous deductions exceeding 2% of your adjusted gross income can be deducted. So if you dont have a whole lot of these, it may not be worth it anyway.
anik74 said: I'm trying to build my credit since I've used cash most of my life. I just applied for a Chase Freedom card and was completely declined for a judgement which is 6 years old--a BS medical service which I fought pro se and lost. I have 3 checking accounts with Chase, my TU FICO is 710, EQ FICO is 727 and EX PLUS is 750. I have zero late payments, I have two other cards with over $2k limits, I have a house that's paid for with no liens and I earn $110k/yr. Can someone please explain to me what the heck is going on and what kind of qualifications a person needs these days in order to get a credit card with Chase?
Did you call and ask them?
I have been rejected by Chase before, only to call and ask them to reconsider (and they did reconsider).
uutxs said: titan01 said: can i write off professional membership fees on my taxes?
what about professional license exams? You want to read Chapter 28 or IRS Pub 17 for explanation and examples of "Miscellaneous Deductions", which is where these fall under. In general, you may be able to deduct professional membership fees but professional license exams probably falls under "Professional Accreditation Fees" and is explicitly disallowed.
Note however that only miscellaneous deductions exceeding 2% of your adjusted gross income can be deducted. So if you dont have a whole lot of these, it may not be worth it anyway.
I did read most of it prior to posting.. which confused me a bit.. i read other websites and majority of it has some conflicting information. Some say you can use it for professional license others say you can't.
I read into it a bit more. It might actually exceed 2% of my income. The license and fees are for my spouse who didn't work in 2011.
Unrelated Q: I purchased a used car in 2011. I am getting conflicting results as well in terms of whether I can write off the registration or tax or both on my taxes. Can anyone help with this as well?
titan01 said: uutxs said: titan01 said: can i write off professional membership fees on my taxes?
what about professional license exams? You want to read Chapter 28 or IRS Pub 17 for explanation and examples of "Miscellaneous Deductions", which is where these fall under. In general, you may be able to deduct professional membership fees but professional license exams probably falls under "Professional Accreditation Fees" and is explicitly disallowed.
Note however that only miscellaneous deductions exceeding 2% of your adjusted gross income can be deducted. So if you dont have a whole lot of these, it may not be worth it anyway.
I did read most of it prior to posting.. which confused me a bit.. i read other websites and majority of it has some conflicting information. Some say you can use it for professional license others say you can't.
I read into it a bit more. It might actually exceed 2% of my income. The license and fees are for my spouse who didn't work in 2011.
Unrelated Q: I purchased a used car in 2011. I am getting conflicting results as well in terms of whether I can write off the registration or tax or both on my taxes. Can anyone help with this as well? You said fees for "professional license exams". I take it this is an exam required to get an initial license; If so, this seems to be disallowed based on the examples cited in the pub. (towards the end of the page).
This is different from an ongoing membership fee (e.g. annual fee) to a professional organization. This is nominally allowed as an "Unreimbursed Employee Expenses" subject to it being ordinary and necessary etc.: You may be able to deduct dues paid to professional organizations (such as bar associations and medical associations) and to chambers of commerce and similar organizations, if membership helps you carry out the duties of your job. Since your wife "didn't work in 2011", I am guessing this could be problematic since it is not an "Unreimbursed Employee Expenses". Maybe someone else can clarify further.
titan01 said: Unrelated Q: I purchased a used car in 2011. I am getting conflicting results as well in terms of whether I can write off the registration or tax or both on my taxes. Can anyone help with this as well? Vehicle registration fees: See Schedule A, line 7. Example. You paid a yearly fee for the registration of your car. Part of the fee was based on the car’s value and part was based on its weight. You can deduct only the part of the fee that was based on the car’s value. Your registration fee receipt or state DMV should have details about breakup of the fee.
Sales tax on a car can be deducted if you elect to deduct state and local general sales taxes, instead of state and local income taxes, as an itemized deduction on Schedule A (Form 1040), line 5b. You can use either your actual expenses or the state and local sales tax tables to figure your sales tax deduction. "State and Local General Sales Tax Deduction Worksheet—Line 5b" should walk you through the steps.
uutxs said: titan01 said: uutxs said: titan01 said: can i write off professional membership fees on my taxes?
what about professional license exams? You want to read Chapter 28 or IRS Pub 17 for explanation and examples of "Miscellaneous Deductions", which is where these fall under. In general, you may be able to deduct professional membership fees but professional license exams probably falls under "Professional Accreditation Fees" and is explicitly disallowed.
Note however that only miscellaneous deductions exceeding 2% of your adjusted gross income can be deducted. So if you dont have a whole lot of these, it may not be worth it anyway.
I did read most of it prior to posting.. which confused me a bit.. i read other websites and majority of it has some conflicting information. Some say you can use it for professional license others say you can't.
I read into it a bit more. It might actually exceed 2% of my income. The license and fees are for my spouse who didn't work in 2011.
Unrelated Q: I purchased a used car in 2011. I am getting conflicting results as well in terms of whether I can write off the registration or tax or both on my taxes. Can anyone help with this as well? You said fees for "professional license exams". I take it this is an exam required to get an initial license; If so, this seems to be disallowed based on the examples cited in the pub. (towards the end of the page).
This is different from an ongoing membership fee (e.g. annual fee) to a professional organization. This is nominally allowed as an "Unreimbursed Employee Expenses" subject to it being ordinary and necessary etc.: You may be able to deduct dues paid to professional organizations (such as bar associations and medical associations) and to chambers of commerce and similar organizations, if membership helps you carry out the duties of your job. Since your wife "didn't work in 2011", I am guessing this could be problematic since it is not an "Unreimbursed Employee Expenses". Maybe someone else can clarify further.
I guess the exam is out of hte question. Yes the exam is for initial license.
The membership fee is for a professional society that is work related but not necessary to acquire or keep a job. Does that clear it up?
uutxs said: titan01 said: Unrelated Q: I purchased a used car in 2011. I am getting conflicting results as well in terms of whether I can write off the registration or tax or both on my taxes. Can anyone help with this as well? Vehicle registration fees: See Schedule A, line 7. Example. You paid a yearly fee for the registration of your car. Part of the fee was based on the car’s value and part was based on its weight. You can deduct only the part of the fee that was based on the car’s value. Your registration fee receipt or state DMV should have details about breakup of the fee.
Sales tax on a car can be deducted if you elect to deduct state and local general sales taxes, instead of state and local income taxes, as an itemized deduction on Schedule A (Form 1040), line 5b. You can use either your actual expenses or the state and local sales tax tables to figure your sales tax deduction. "State and Local General Sales Tax Deduction Worksheet—Line 5b" should walk you through the steps.
What if the receipt I got didn't have a breakdown of the amounts. It was just a lump sump amount listed on the receipt.
I have a question about bond funds. I have a decent amount of my short term savings invested in bond index funds. To be exact, it's the Vanguard Total Bond Market Index Fund. It provides me higher return than a savings account, obviously, and has returned 5% annually for the last 10 years. I've been reading everywhere that investors should get out of gov't bonds as they're going to crash when interest rates star going up. My question is, typically, what kind of crash are we talking about here? Will they crash as in the principal will start decreasing to where I take negative return? Or, will they just be underperforming equities? Is my exposure lessened because the index funds holds bonds of varying lengths? Thanks.
SaulHudson said: I have a question about bond funds. I have a decent amount of my short term savings invested in bond index funds. To be exact, it's the Vanguard Total Bond Market Index Fund. It provides me higher return than a savings account, obviously, and has returned 5% annually for the last 10 years. I've been reading everywhere that investors should get out of gov't bonds as they're going to crash when interest rates star going up. My question is, typically, what kind of crash are we talking about here? Will they crash as in the principal will start decreasing to where I take negative return? Or, will they just be underperforming equities? Is my exposure lessened because the index funds holds bonds of varying lengths? Thanks. If interest rates go up, value of the bonds the fund holds will go down and hence the fund NAV will also go down. In short, yes, you can lose some principal (negative return). Diversification in terms of bond maturity periods can help some but you can very well see negative returns. If and when that will happen is anybody's guess and even the so called pros dont know for sure.
ETA: If you were to buy and hold individual government bond (instead of a bond mutual fund), the value of the bonds will still go down in a rising interest rate environment. However, you can decide to hold the bonds till maturity and get your principal (and regular interest payments) back at maturity, assuming there is no default.
titan01 said: What if the receipt I got didn't have a breakdown of the amounts. It was just a lump sump amount listed on the receipt. Call the DMV. What state are we talking about?
titan01 said: The membership fee is for a professional society that is work related but not necessary to acquire or keep a job. Does that clear it up? I would be reluctant to claim that.
SaulHudson said: I have a question about bond funds. I have a decent amount of my short term savings invested in bond index funds. To be exact, it's the Vanguard Total Bond Market Index Fund. It provides me higher return than a savings account, obviously, and has returned 5% annually for the last 10 years. I've been reading everywhere that investors should get out of gov't bonds as they're going to crash when interest rates star going up. My question is, typically, what kind of crash are we talking about here? Will they crash as in the principal will start decreasing to where I take negative return? Or, will they just be underperforming equities? Is my exposure lessened because the index funds holds bonds of varying lengths? Thanks.
Please note that the "experts" said the exact same thing last year and they were wrong. Whenever someone tells you what do with your money, always try to figure out what their motive is.
If rates for bonds move up then, yes, the value of the bonds (and your bond fund) will go down. And the opposite is also true (as has happened over the past year). For your fund:Average maturity 7.2 years Average duration 5.0 years The shorter the duration, the less affected the bond value will be by interest rate moves.
uutxs said: titan01 said: What if the receipt I got didn't have a breakdown of the amounts. It was just a lump sump amount listed on the receipt. Call the DMV. What state are we talking about?
titan01 said: uutxs said: titan01 said: What if the receipt I got didn't have a breakdown of the amounts. It was just a lump sump amount listed on the receipt. Call the DMV. What state are we talking about?
NY Per this site, looks like in NY the annual renewal fee is based on weight and hence not deductible. Things may be different for first time registration.
uutxs said: titan01 said: uutxs said: titan01 said: What if the receipt I got didn't have a breakdown of the amounts. It was just a lump sump amount listed on the receipt. Call the DMV. What state are we talking about?
NY Per this site, looks like in NY the annual renewal fee is based on weight and hence not deductible. Things may be different for first time registration.
talljay said: SaulHudson said: I have a question about bond funds. I have a decent amount of my short term savings invested in bond index funds. To be exact, it's the Vanguard Total Bond Market Index Fund. It provides me higher return than a savings account, obviously, and has returned 5% annually for the last 10 years. I've been reading everywhere that investors should get out of gov't bonds as they're going to crash when interest rates star going up. My question is, typically, what kind of crash are we talking about here? Will they crash as in the principal will start decreasing to where I take negative return? Or, will they just be underperforming equities? Is my exposure lessened because the index funds holds bonds of varying lengths? Thanks.
Please note that the "experts" said the exact same thing last year and they were wrong. Whenever someone tells you what do with your money, always try to figure out what their motive is.
If rates for bonds move up then, yes, the value of the bonds (and your bond fund) will go down. And the opposite is also true (as has happened over the past year). For your fund:Average maturity 7.2 years Average duration 5.0 years The shorter the duration, the less affected the bond value will be by interest rate moves.
The comments did come from Warren Buffet. I tend to pay attention when he makes statements like that.
I don't know how to report the sale of stocks from my ESPP in 2011. My ESPP distribution is shown in my W2 as "Less Misc.NonTaxableComp." and there was no 1099 form. I think the profit should be reported as a short term capital gain since I sold right away.
My sales detail letter says the shares were exercised on 12/22/2010 (in Europe where the company HQ is based), but I didn't receive a paycheck for the proceeds until 02/25/11. Does this mean the Date of Sale is 12/22/2010, and I would have to ammend my 2010 taxes? Or should I use 2/25/2011 as the Date of Sale?
Description: Would this be "X shares of stock X"? Date of Sale: Would this be 12/22/2010? Date Acquired: Would this be 2/25/2011? Net Proceeds: This is the amount shown on my W2 as nontaxable. I made a profit. Cost Basis: Would this be 0? I had after-tax money taken from each paycheck in 2008-2010.
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