Tax question (2023 Update)

form 8109 first time for a while. Instead of cashing the incoming stimulus check, can i just void it and return it with form 8109? Google shows lots of hit for getting the check, but not for returning it.

Paying tax? Yeah, it's hard to get out of taxes. I did hold the stock lon g enough to avoid the short term capital gains and will only need to pay lo ng term capital gains. I have no idea what you are talking about with retu rning the check with form 8109??? The two are not in any way connected.

Why don't you want to just cash the stimulus check and send them your check for payment? If you send them their check back you won't have proof you s ent them anything. If you send them your check you will have a canceled c heck as proof.

le form 8109 first time for a while. Instead of cashing the incoming stimul us check, can i just void it and return it with form 8109? Google shows lot s of hit for getting the check, but not for returning it.

g enough to avoid the short term capital gains and will only need to pay lo ng term capital gains. I have no idea what you are talking about with retur ning the check with form 8109??? The two are not in any way connected.

ck for payment? If you send them their check back you won't have proof you sent them anything. If you send them your check you will have a canceled ch eck as proof.

Form 8109 (federal tax direct deposit) or another form? I can keep a copy of the void stimulus check as proof. I might still need to send them a ban k check later.

My checkbox was stolen years ago and $5,000 paid to somebody's landlord. I was able to stop it but I never keep a checking account since then.

file form 8109 first time for a while. Instead of cashing the incoming stim ulus check, can i just void it and return it with form 8109? Google shows l ots of hit for getting the check, but not for returning it.

ong enough to avoid the short term capital gains and will only need to pay long term capital gains. I have no idea what you are talking about with ret urning the check with form 8109??? The two are not in any way connected.

heck for payment? If you send them their check back you won't have proof yo u sent them anything. If you send them your check you will have a canceled check as proof.

of the void stimulus check as proof. I might still need to send them a ban k check later.

I guess it should be 1040-ES

I was able to stop it but I never keep a checking account since then.

file form 8109 first time for a while. Instead of cashing the incoming stim ulus check, can i just void it and return it with form 8109? Google shows l ots of hit for getting the check, but not for returning it.

ong enough to avoid the short term capital gains and will only need to pay long term capital gains. I have no idea what you are talking about with ret urning the check with form 8109??? The two are not in any way connected.

heck for payment? If you send them their check back you won't have proof yo u sent them anything. If you send them your check you will have a canceled check as proof.

of the void stimulus check as proof. I might still need to send them a ban k check later.

I was able to stop it but I never keep a checking account since then.

Keeping a copy of the check you mail them is not proof that you sent it or that they got it. If you send them a check it will be cashed proving they got it and were paid. If you don't have a checking account, how do you hav e your checks cashed? Yeah, fraud can happen on any account. I would say I have no idea how you can live in today's world without a checking accoun t, but I think that would be a fruitless conversation knowing the extremes you go to driving an EV with only 50 mile range or something like that. No t criticizing, just saying I should not be surprised.

d file form 8109 first time for a while. Instead of cashing the incoming st imulus check, can i just void it and return it with form 8109? Google shows lots of hit for getting the check, but not for returning it.

long enough to avoid the short term capital gains and will only need to pa y long term capital gains. I have no idea what you are talking about with r eturning the check with form 8109??? The two are not in any way connected.

check for payment? If you send them their check back you won't have proof you sent them anything. If you send them your check you will have a cancele d check as proof.

py of the void stimulus check as proof. I might still need to send them a b ank check later.

. I was able to stop it but I never keep a checking account since then.

r that they got it. If you send them a check it will be cashed proving they got it and were paid. If you don't have a checking account, how do you hav e your checks cashed? Yeah, fraud can happen on any account. I would say I have no idea how you can live in today's world without a checking account, but I think that would be a fruitless conversation knowing the extremes you go to driving an EV with only 50 mile range or something like that. Not cr iticizing, just saying I should not be surprised.

If i can prove that i never cash the stimulus check, i can claim it as tax credit. They should have record of the stimulus check. I use cash and eCh eck (from saving account) only, no physical check or ATM.

I'm puzzled. In the UK you would only be liable for CGT in the year where you actually *sold* shares at a profit above their book cost more than the annual personal CG allowance.

You can hold onto shares here without any tax penalty. And put them in ISAs where all gains are tax shielded up to an annual investment limit.

Same with houses. It is only when you sell that the capital gain is realised here. Hence bed & breakfasting of shares before the end of a tax year to crystallise some of the gains up to the CGT allowance limit.

Do you really pay CGT on shares you own if they go up? Do you get a refund next year if they go down again?

Is capital gains tax really that different in the USA?

and file form 8109 first time for a while. Instead of cashing the incoming stimulus check, can i just void it and return it with form 8109? Google sho ws lots of hit for getting the check, but not for returning it.

ck long enough to avoid the short term capital gains and will only need to pay long term capital gains. I have no idea what you are talking about with returning the check with form 8109??? The two are not in any way connected .

ur check for payment? If you send them their check back you won't have proo f you sent them anything. If you send them your check you will have a cance led check as proof.

copy of the void stimulus check as proof. I might still need to send them a bank check later.

rd. I was able to stop it but I never keep a checking account since then.

or that they got it. If you send them a check it will be cashed proving th ey got it and were paid. If you don't have a checking account, how do you h ave your checks cashed? Yeah, fraud can happen on any account. I would say I have no idea how you can live in today's world without a checking account , but I think that would be a fruitless conversation knowing the extremes y ou go to driving an EV with only 50 mile range or something like that. Not criticizing, just saying I should not be surprised.

x credit. They should have record of the stimulus check. I use cash and eCh eck (from saving account) only, no physical check or ATM.

Is an eCheck the same as online banking? They either send the payment elec tronically or by paper? I pay all my bills that way. I only use my check book when sending money to the government that won't take electronic transf ers... yeah, there are still those around.

No, it's the same. I am paying CGT on decade old stocks that more than double last year, sold last month. So, i didn't have time to plan the tax payment.

uble last year, sold last month. So, i didn't have time to plan the tax pay ment.

I like to hold my stocks for a year to avoid the higher tax, but I'm not ce rtain of the economy. This virus isn't going away any time soon. The vacc ine will not make an impact on the disease until late next year. In the me antime I keep wondering if the hammer will drop on the economy and stocks. The stock market tends to be a leading indicator of the economy and unempl oyment a trailing indicator... but the roles can be reversed in a scenario like this where it is all about non-economic factors stomping on the system .

Ed, btw, you may have been right about the Alibaba guy. I read no one has seen him publicaly for a month.

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double last year, sold last month. So, i didn't have time to plan the tax p ayment.

certain of the economy. This virus isn't going away any time soon. The vacc ine will not make an impact on the disease until late next year. In the mea ntime I keep wondering if the hammer will drop on the economy and stocks. T he stock market tends to be a leading indicator of the economy and unemploy ment a trailing indicator... but the roles can be reversed in a scenario li ke this where it is all about non-economic factors stomping on the system.

My decade old stock problem might only happen once in my lifetime, so i sol d. If i am wrong, i can buy them back later.

s seen him publicaly for a month.

Yes, he is worth 50B. Either he keep the money or his life.

No, no, no!! It MIGHT work out in the end, but you will have a serious go-round with the IRS. Just put the stimulus check in your savings account and pay your taxes as usually. I.e., separate the transactions, do not mix!