CPA
Copa Holdings, S.A.
stock NYSE

Understand. If you have a CPA or tax advisor, I would ask this question to them as well. Ensure their aren't tax issues or issues signing US paperwork without a US address.
I maintain a US house & address, albeit currently on long visit outside US.
Just my $.02... I am NOT an expert, but have persoanl experience.
Personally interested in what you learn here.

Don't rely on tax software. You need a human that knows how to read your statements and transaction history. "Basis" is kinda a hidden number but it's completely valid when calculated correctly. Back in the dark ages, I just used spreadsheets to do the calculations and the carry-forwards. Call the IRS plus write a letter to them - do both - document all communication. Tell them your CPA is in the process of calculating potential basis and carry-forwards. Many, many people never calculate "basis" and miss out on tax savings. Most so-called tax-preparers never calculate it. Basis is a pain in the ass to calculate but you'll be very glad you did.

CPA's don't automatically do this ... insist they calculate your BASIS from day one of buying. Use that term specifically. Provide them with all your statements and transactions. If they need to go back and file amended returns, so be it. Your BASIS then rolls over from year to year. The same theory of "basis" is also applicable in real estate, stocks etc.

Schwab doesn't give tax advice. OP needs to talk to a CPA.

I also feel incredibly privileged thanks to a two-month course taught in my HS history class from a local CPA. Not only did he tell us how to do our own taxes, he also taught us about dollar cost averaging, something I remembered vividly when I started contributing to my Roth IRA at 22yo. I'll probably make a post about it one day, because I owe that guy my entire financial life at this point.

I think I'm good to do a backdoor Roth without pro-rata rule affecting me at all but I wanted to check. Maybe I'll try to find a CPA to consult but not sure if it's worth it for such a simple situation.
I have a 401k with Empower where I put all my contributions into Roth and my company's matching contributions are in pre-tax money. The total for both amounts is shown under "Roth 401k" but if I open brokerage accounts in the same Empower portal (pretty sure they're SDBAs in the same plan) I have to open Roth brokerage account to access my contributions and non-Roth brokerage account to access my employer's funds.
Aside from 401k, I only have a taxable brokerage account and normal bank account (checking, savings, credit card).
Seems like my situation is very straightforward in that I have no IRAs right now and have never had them and all employer pre-tax money is in a 401k plan (either the Roth account or a non-Roth brokerage account), so if I transfer $7k after-tax money into a newly created Traditional IRA and transfer to a newly created Roth IRA, there should be no problems.
What do you guys think?

Yes, you can just pay all taxes in the trust and the beneficiary gets a K1 with zero income. (Or a small amount of income but below the threshold where they have to file an income tax return).
The trust is at the level where administrative expenses are significant compared to income and the taxes due. The tax savings from the beneficiary getting a K1 and paying taxes on their income may be canceled out by the cost of preparing that return.
Initially the taxes, and choices of how to distribute income, may seem hard to understand but after the first couple of years it will make more sense.
You should find a CPA that is used to dealing with Form 1041, income tax return for estates and trusts.

It's not clear how you are paid, but if you are a 1099 earner or otherwise self employed you should be looking at solo 401k options, which can be pretty good if you want to save a lot for retirement. If your situation is simple then you may be able to DIY everything but if you are new to this then you should get a CPA to help you out, especially if you are in high earner terrority

Yes, definitely. In my opinion, (CPA) is more important than the CFP. She handles taxes and recommends pre-tax accounts for retirement. She’s the last gatekeeper I checked.

They’re not. Ask any actual fiduciary (CFP, CFA, CPA) they’re a tool. For some ppl they fit their plans others not. Recently they’ve been a good way to get a fixed rate of return higher than CDs and treasuries with same risk or you can use them to make a self funded pension and reduce longevity risk.
The knee jerk reaction “bad” is from insurance salesman that ONLY sell annuities and don’t use it as a tool but a one size fits all.

People don't need to believe me or my recommendations. But I think they ought to invest in line with what the Morningstar research shows.
Or this [Morningstar Mind The Gap Report ](https://docs.google.com/spreadsheets/d/1QzHOIh9KBw73wVVGsu2_e_pJMKfE7TMQdIbTkhAOi50/edit?usp=drivesdk) that shows US Equity Index funds had the highest returns for the 10 year period ending in 2024 and had the highest percentage of market returns.
For the record, retired CPA (passed exam in 1979), did bond portfolio analysis for about 10 years for what is now a S&P 500 financial services company, been investing since around 1990, started an investment club in the 1990's, and been sharing my OPINIONS here for a couple of years. Not everyone agrees, but at this point according to Reddit metrics this post has 34K views, so at least some people have found it worthwhile.
Lots of people don't agree with my opinions. But I try to provide what I believe to be accurate and useful information, so Reddit users can be better investors.

Hi u/Clear_Medium_5858, We understand how challenging it can be to see a tax bill higher than your profits. This can happen due to factors like short-term gains taxed at higher rates, airdrops/rewards taxed as income, year-by-year taxation, or errors in tax tools (e.g., double-counting trades or transfers).
To address this:
1. Review your tax reports for errors like missing cost basis or double-counted transactions.
2. Use a reliable crypto tax tool.
3. Consult a crypto CPA for expert guidance.
4. Offset losses to reduce your tax liability.
For more details, check this article: [Understanding Crypto Taxes](https://www.coinbase.com/learn/crypto-basics/understanding-crypto-taxes). Let us know if you need further assistance!
^SM

Stop shredding checks. The transfer agent for each stock (often firms like Computershare or Equiniti) can reissue them if you contact them directly. You do not need a lawyer or advisor for $25k; you just need patience. Call the transfer agent for each company to request the forms for removing a deceased custodian. You will need a “[Medallion Signature Guarantee](https://www.computershare.com/us/what-is-a-medallion-guarantee)” to process these, which is a special stamp available only at a bank where you are an existing customer, not the post office. Regarding taxes, ask a CPA about a “step-up in basis.” While custodial gifts typically do not receive this tax break, an exception often applies if the donor was also the [custodian when they died](https://tlcplanning.com/utma-accounts-estate-planning-blind-spot/) (which appears to be your situation). This would reset the asset’s value to the date of his death, potentially eliminating taxes on years of gains. Verify this before selling, as it could save you thousands.

I've been using GreenTraderTax for the past 4 years and they are way too expensive. They force me to pay for / use their TradeLog services (they're partnered with them) even though I am already MTM and therefore don't need that service, nor does IRS require trade logs. I'm not entirely sure if they are doing this as a cash grab or actually have a legit reason. In any case, I'm feeling robbed - I had to pay them nearly $4k for 2024 when, aside from my trades, I have a rather boring married-filing-jointly situation. Can you recommend a solid CPA that's familiar with MTM traders?
Secondly, for holding periods, I know the majority of my trades need to be short term to qualify for Trader Tax Status every year, but I have several bagged positions where I'm just waiting for the chance to get out. Have you ever been in this situation and got flagged or TTS-disqualified?

CPA

Those guys pay a lot of income taxes?
Not my problem. I am not a CPA.

It’s worth noting you have attorney-client privilege with a licensed tax attorney. Not with a CPA.

CPA here. The logic tracks, but the IRS has seen this movie before.
**The problem: IRC §2036**
If you give someone an asset but plan to get it back when they die, the IRS may say it wasn’t a true gift. The asset gets pulled back into the decedent's estate at *your original basis* — not stepped up. You'd owe tax on the full $99k gain.
This is exactly the kind of arrangement that gets flagged. "Gift to friend → friend dies → asset comes back to you" seems like a round-trip deal meant to create a step-up.
**Other issues:**
* Gift over $18k (2024) / $19k (2025) requires Form 709 filing, even if no tax is owed
* You're betting on your friend dying before you, which is... a strategy
* If the friend keeps the Bitcoin in specific irrevocable trusts, it might not get a step-up anyway.
* The IRS has increased crypto audit activity — this would invite scrutiny
**When this actually works:**
Genuine gifts with no strings attached are great. If you happen to be named in someone's estate later, that's fine too. It's the *prearrangement* that kills it.
Short version: Legal on paper, but structured this way it's basically a "please audit me" sign.

When your RSUs vest, the value at vesting is already taxed as ordinary income. That means the cost basis of your shares is whatever they were worth on vest day. When you sell, you only owe capital gains tax on the difference between the vesting price and the sale price, not on the whole $53k. So if the stock hasn't moved much since vesting, the tax hit from selling may be smaller than you expect.
Your options are basically:
* **Sell everything now:** pay any capital gains this year, but remove all concentration risk immediately.
* **Sell in chunks over multiple years:** spreads the tax impact out and keeps you in lower brackets, as long as you’re comfortable holding the stock longer.
* **Offset with losses elsewhere:** if you have investments at a loss, you can use tax-loss harvesting to reduce the gains from selling RSUs.
What you can’t do**:** move RSUs into an IRA, avoid tax entirely, or roll them into anything tax-sheltered. Once vested, they're just regular taxable shares.
If your goal is diversification, spreading sales across 1–2 years is totally normal, just avoid dragging it out so long that you’re stuck holding a big chunk of employer stock that could drop. For large amounts or tight income brackets, you can consider a quick talk with a CPA or a tax advisor. But yeah, chunking it out is a very normal way to handle this.

The reporting on $10k is an anti-money laundering thing, not a tax report. The taxable event is the realized gain on the asset. If you fail to report the gain and are audited by the IRS, you will be responsible for not only the taxable gain, but you can get hit with penalties. You can also offset gains with a realized loss. But for more information on that you really should talk to a CPA or Licensed Tax Attorney.
[Taxes on Physical Gold and Silver Investments: What You Need to Know](https://www.investopedia.com/articles/personal-finance/081616/understanding-taxes-physical-goldsilver-investments.asp)