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J. C. Penney Company, Inc. Message Board

jimmyz1970 9 posts  |  Last Activity: 6 hours ago Member since: Feb 19, 2009
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  • Reply to

    Any ideas

    by hiker200055 7 hours ago
    jimmyz1970 jimmyz1970 6 hours ago Flag

    I believe tomorrow KR will up big. Look at FOSL yesterday and today. Big guys are manipulating!. Good luck!

    Sentiment: Strong Buy

  • Reply to

    tax forms help

    by jimmyz1970 Mar 28, 2016 11:53 PM
    jimmyz1970 jimmyz1970 Mar 29, 2016 11:31 AM Flag

    Do you know which forms TurboTax generated? Without K-1, I was ok with old forms in previous years. But for this K-1, not sure which new forms I really need. Is there some way LINN distribution can offset my LINE loss? Thanks!

  • jimmyz1970 by jimmyz1970 Mar 28, 2016 11:53 PM Flag

    Thank you first for all the help.

    I did my tax filing by myself in the past but K-1 is new to me this year for 2015 due to LINE. It's for individual margin account with big margin interest and loss carryover, not IRA or others. I only traded LINE in 2015. Some new threads here mentioned 990-T and 8582 that I never used. I got distribution in K-1 for LINE but I lost bigger for LINE trading. Is there some way I can offset loss with distribution instead of just max $3000 deduction since my loss carryover was already bigger than $3000? Also what forms do I need to use for filing with this K-1 nightmare? I got some names from K-1, are they all needed? Your suggestions are greatly appreciate.
    1040
    Schedule A,
    Schedule B,
    Schedule D,
    4952
    8949
    8863
    Schedule E
    form 4797
    form 6251
    form 8960
    form 8903
    990--T
    8582

    Thank you again!

  • Reply to

    help about tax filing

    by jimmyz1970 Feb 19, 2016 3:37 PM
    jimmyz1970 jimmyz1970 Mar 28, 2016 9:43 PM Flag

    Thank you first for all the help.

    I did my tax filing by myself in the past but K-1 is new to me this year for 2015 due to LINE. It's for individual margin account with big margin interest and loss carryover, not IRA or others. I only traded LINE in 2015. Some new threads here mentioned 990-T and 8582 that I never used. I got distribution in K-1 for LINE but I lost bigger for LINE trading. Is there some way I can offset loss with distribution instead of just max $3000 deduction since my loss carryover was already bigger than $3000? Also what form lists do I need to use for filing with this K-1 nightmare? I got some names from K-1, but your suggestions are greatly appreciate.
    1040
    Schedule A,
    Schedule B,
    Schedule D,
    4952
    8949
    8863
    Schedule E
    form 4797
    form 6251
    form 8960
    form 8903
    990--T
    8582

    Thank you again!

  • jimmyz1970 by jimmyz1970 Mar 25, 2016 5:19 PM Flag

    LINE and LNCO announced on 1/18/16 that all distributions are Qualified Dividends. I have received K-1 from LINE. There is no place telling it's qualified dividend, How can I indicate it as qualified dividends in my 1040 filing? Also for LNCO dividends, my broker uses "Substitute Payments" category. How can I process it as qualified dividends in form 1040? My 1099 DIV Qualified Div portion doesn't include these 2 distributions at all. Many thanks

  • Reply to

    help about tax filing

    by jimmyz1970 Feb 19, 2016 3:37 PM
    jimmyz1970 jimmyz1970 Mar 25, 2016 5:12 PM Flag

    I received 1099 DIV but the qualified div port doesn't include both LINE and LNCO div at all. not sure where to get help. This should be a common issue for these 2 stocks. If any one knows, please share. Thanks!

  • Reply to

    help about tax filing

    by jimmyz1970 Feb 19, 2016 3:37 PM
    jimmyz1970 jimmyz1970 Mar 25, 2016 1:19 AM Flag

    Thank you very much for the info.

    the 1/18/16 announcement is for both LINE and LNCO. Don't know how to use it. I didn't find any useful info on their web site regarding this. A real nightmare! If any one has experience, please share.

  • Reply to

    help about tax filing

    by jimmyz1970 Feb 19, 2016 3:37 PM
    jimmyz1970 jimmyz1970 Mar 25, 2016 12:29 AM Flag

    LINE and LNCO announced on 1/18/16 that all distributions are Qualified Dividends. I have received K-1 from LINE. There is no place telling it's qualified dividend, How can I indicate it as qualified dividends in my 1040 filing? Also for LNCO dividends, my broker uses "Substitute Payments" category. How can I process it as qualified dividends in form 1040? Many thanks!

  • Reply to

    help about tax filing

    by jimmyz1970 Feb 19, 2016 3:37 PM
    jimmyz1970 jimmyz1970 Feb 29, 2016 6:12 PM Flag

    So which turboTax version to process LINE K-1? there are Deluxe, Premier and Home & Business versions.

    For LNCO, 1099 uses SUBSTITUTE PAYMENT. Do I need to wait K-1 to process too?

    thanks a lot!

JCP
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