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Re: Turbo Tax keeps prompting me to pay estimated quarterlie

djs05101985 wrote:I can't specify additional withholding on my W4 for the state, does this mean that if I wanted to pay additional tax to the state I'd have to use estimated state tax quarterlies?

Virginia has its own W-4 called a VA-4. Contact your employer for a copy to change your state withholding.
by Duckie
Sat Mar 28, 2015 8:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax keeps prompting me to pay estimated quarterlies!
Replies: 3
Views: 423

Re: First time 401k/404c, need suggestions

7Rays , welcome to the forum. I can technically put any fund into the 401k (404c) but it costs an additional $500/year to self-direct beyond the DIA. Early on, that $500 fee seems high. Perhaps later down the road it may be worth doing. Any advice would be greatly appreciated, particularly on fund ...
by Duckie
Sat Mar 28, 2015 7:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: First time 401k/404c, need suggestions
Replies: 2
Views: 187

Re: Vanguard Web Site [How do I research funds by category?]

boater07 wrote:I used to be able to research funds by category. ie bonds,stocks whatever.
What happened to this ability?

Do you mean this page? It certainly was buried.
by Duckie
Sat Mar 28, 2015 6:14 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Web Site [How do I research funds by category?]
Replies: 10
Views: 536

Re: Introduction and Investment comments

BlackSails wrote:8k would be fine for 3-6 months. I can add back 2k per month until i'm back up to around 15k while maxing out my retirement accounts.

In that case I'd go for it.
by Duckie
Sat Mar 28, 2015 5:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Introduction and Investment comments
Replies: 3
Views: 345

Re: Recurring bills - How do you pay?

Watty wrote:Other, the bank where my checking account is at has online bill paying that I use to manually pay my bills each month.

Same for me.
by Duckie
Fri Mar 27, 2015 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Recurring utility bills - How do you pay?
Replies: 39
Views: 2227

Re: need advice on 403b --> Roth IRA

hockey1592 , welcome to the forum. During tax year 2015, should I move this money from my old employer 403b into a Roth IRA and take the tax hit now, knowing that my future tax bracket in 2016 and beyond will be higher?....Or should I roll it into my current employer 403b? Rolling to your current e...
by Duckie
Fri Mar 27, 2015 10:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: need advice on 403b --> Roth IRA
Replies: 1
Views: 188

Re: Introduction and Investment comments

BlackSails , welcome to the forum. Over the last few years I've managed to pay off all my cc debt, max my 401k and Roth backdoor contributions and start a taxable investment account through Vanguard. Good for you. My 401k options are not the greatest so the above is what I believe to be the best op...
by Duckie
Fri Mar 27, 2015 9:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Introduction and Investment comments
Replies: 3
Views: 345

Re: Help with accountants on Backdoor Roth tax liability

uvaflyer , welcome to the forum. I am aware that I will owe tax on the JPM backdoor, but I did not expect to have a tax liability on the Vanguard backdoor. Would you be able to help with any advice on this? The JP Morgan conversion is not a backdoor Roth. It's just a normal conversion. What you did...
by Duckie
Fri Mar 27, 2015 9:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with accountants on Backdoor Roth tax liability
Replies: 2
Views: 331

Re: Improving English Language Proficiency- Please suggest B

As we are on the topic of the English language, I am curious what's behind using they/them/their when the gender of a person is known from the context. I frequently see statements such as, for example, "I've met this girl and I liked their smile." This phrasing is common among recent grad...
by Duckie
Fri Mar 27, 2015 5:08 pm
 
Forum: Personal Consumer Issues
Topic: Improving English Language Proficiency- Please suggest Books
Replies: 41
Views: 2404

Re: Estate Tax for Married Couple?

When spouse A dies there is an estate and possibly estate taxes. There are exclusions such as the charitable or marital deduction and if all assets are left to spouse B there shouldn't be taxes. But if some assets are left to children those assets would be potentially taxable depending on the size o...
by Duckie
Thu Mar 26, 2015 5:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Tax for Married Couple?
Replies: 5
Views: 583

Re: New here: Help with 401k, IRA, first taxable account

Any feedback on what to select out of the 401k funds to achieve a 70/30 stock/bond mix? If you're going to be rolling the IRA into the 401k then the easiest choice is a mix of ( VTTVX ) Vanguard Target Retirement 2025 Fund (0.17%) and ( VTTHX ) Vanguard Target Retirement 2035 Fund (0.18%). Between ...
by Duckie
Wed Mar 25, 2015 10:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: New here: Help with 401k, IRA, first taxable account
Replies: 9
Views: 702

Re: what is 770 plan?

mz5077 wrote:can any one tell me what this 770 plan is that sounds like an insurance product?

It's a permanent or whole life insurance product. Just type "770 plan" into google and you'll get lots of information.
by Duckie
Wed Mar 25, 2015 10:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: what is 770 plan?
Replies: 2
Views: 263

Re: Portfolio rebalance help - something simple and low cost

From what I remember reading in the Boglehead's Guide to Investing, isn't it advantageous to have more international stocks in the taxable account so that you can deduct the international taxes you payed? I might be remembering it incorrectly, but I appreciate your thoughts Putting international in...
by Duckie
Wed Mar 25, 2015 10:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio rebalance help - something simple and low cost
Replies: 4
Views: 634

Re: Tax Question: Who is wrong, vanguard, me or Taxact

So does Vanguard issue me a wrong 1099-R ? Does Taxact representative give me wrong instruction to fill out the information? or my understanding of my tax liability is wrong? Thank you for your help. The 1099-R is correct. It is only concerned with the conversion. You need to look at Form 8606. Tha...
by Duckie
Wed Mar 25, 2015 9:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: Who is wrong, vanguard, me or Taxact
Replies: 7
Views: 1338

Re: 401(K)/DCP rollover options at new job with no 401(K)

Existing employer 401(k) - This is offered by my employer and seems to be Fidelity Custodian plan looking at mix of investment options offered. Here are investment options: These are the best options: SPTN 500 INDEX INST (FXSIX) 0.05% SPTN EXT MKT IDX ADV (FSEVX) 0.07% <-- Roughly 80% large caps (5...
by Duckie
Wed Mar 25, 2015 8:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401(K)/DCP rollover options at new job with no 401(K)
Replies: 5
Views: 343

Re: T-IRA to Roth IRA conversion question

I transferred the balance of my T-IRA at Vanguard (all contributions were made with non-deductible, post taxed funds) to a Roth IRA at Vanguard. I've now received a 1099-R which shows this total amount as a distribution. How do I communicate and what form do I use, to prevent being assessed taxes a...
by Duckie
Wed Mar 25, 2015 7:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: T-IRA to Roth IRA conversion question
Replies: 1
Views: 232

Re: Improving English Language Proficiency- Please suggest B

I like thrillers/mysteries. Any suggestions? Start with the classics, books by: Dashiell Hammett Agatha Christie Rex Stout Raymond Chandler Dorothy L. Sayers Ellery Queen Robert B. Parker These authors not only write very good mystery stories, they are also throughly grounded in the english languag...
by Duckie
Wed Mar 25, 2015 6:24 pm
 
Forum: Personal Consumer Issues
Topic: Improving English Language Proficiency- Please suggest Books
Replies: 41
Views: 2404

Re: Portfolio rebalance help - something simple and low cost

Current total portfolio: mid 6 figures (according to Mint.com - factoring in the value of my house and cars into my net worth) We're not concerned with your net worth. By portfolio we mean the long-term assets in your taxable and tax-sheltered accounts. And the 529 plans are not part of your retire...
by Duckie
Tue Mar 24, 2015 10:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio rebalance help - something simple and low cost
Replies: 4
Views: 634

Re: Transfering Mutual Fund shares to broker

investor1000 , welcome to the forum. Any tips or things to know before I make this move? How should i deal with cost basis data? Check with Fidelity to make sure they can take the funds (they probably can). Get the entire cost basis information from the current custodians before you make the move. ...
by Duckie
Tue Mar 24, 2015 9:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Transfering Mutual Fund shares to broker
Replies: 1
Views: 169

Re: Company Savings plan-was Riffed, Now what

don't understand the back door into the Roth your talking about. I'll have to Google it to see if I understand what your doing. People who earn too much to contribute to a Roth IRA directly can get their money into a Roth using the two-step 
 Backdoor Roth IRA 
 method. Assets in non-Roth IRAs will...
by Duckie
Tue Mar 24, 2015 9:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company Savings plan-was Riffed, Now what
Replies: 14
Views: 1913

Re: Bonds in Taxable for Massachusetts Resident

Should I just do VMATX, or some bonds fund that is subject to Mass. taxes but not Federal, or move more bonds out of taxable account (giving up on keeping AA in taxable independent of AA in tax-advantaged), or something else? If you have room in tax-sheltered accounts I would put the bonds there an...
by Duckie
Tue Mar 24, 2015 8:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bonds in Taxable for Massachusetts Resident
Replies: 2
Views: 305

Re: backdoor roth and IRA rollover - timing question

Does it matter when this roll over / roll back occurs? Since I am already into 2015, and let's say I roll these back into a 401k in the next month or two - does the value of them count against me for my 2015 taxes? fund is correct. As long as all of your non-Roth IRA accounts are empty as of Decemb...
by Duckie
Tue Mar 24, 2015 8:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: backdoor roth and IRA rollover - timing question
Replies: 3
Views: 392

Re: IRAs

I think most of their mutual funds have 2 options, either 6% load with 0.7% expense ratio or no load with a 1.7% expense ratio. My employer offers a 3% match. I was thinking of contributing up to the 3% match in the simple ira then I think I can also contribute $5500 max if I open my own roth ira? ...
by Duckie
Mon Mar 23, 2015 6:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRAs
Replies: 4
Views: 586

Re: IRA Issue - Need Advice

For the tax year 2014, I have exceeded the Income limits to contribute to Roth IRA. Do you expect to exceed the limits in 2015 and beyond? If I want to contemplate Roth IRA Contribution through back door for 2014, do I need to convert the past TIRAs to Roth IRA?? You'll have to do something with th...
by Duckie
Mon Mar 23, 2015 5:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA Issue - Need Advice
Replies: 6
Views: 458

Re: Newbie - roth IRA question

I have never contributed to or opened a traditional IRA account. Would this account have needed to be opened by Decemeber 31, 2014 in order to be on this year's taxes? No. You are allowed to open and contribute to an IRA for 2014 if done by April 15, 2015. Are you sure you need to use the 
 Backdoo...
by Duckie
Mon Mar 23, 2015 4:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newbie - roth IRA question
Replies: 3
Views: 367

Re: Roth IRA to TIRA to Roth IRA

I have some dividends and capital gains in my Roth account now. Will I incur taxes or penalties at any point during these two conversions? When you recharacterize the Roth IRA contributions to non-deductible TIRA contributions there are no taxes or penalties. When you convert the TIRA to a Roth IRA...
by Duckie
Sun Mar 22, 2015 5:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roth IRA to TIRA to Roth IRA
Replies: 1
Views: 238

Re: Some guidance/recommended reading for my retired parents

Can some folks recommend books, wiki articles, reading, etc. geared towards a retired couple looking to establish a low cost, relatively hands off, moderately aggressive portfolio? If they move their assets to Fidelity they could invest in the inexpensive Spartan index funds. They could have three ...
by Duckie
Sat Mar 21, 2015 6:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Some guidance/recommended reading for my retired parents
Replies: 3
Views: 388

Re: need help with 401K

pravsharma , welcome to the forum. I need advice on how best to reallocate my 401K, which I feel is invested in higher ER and not producing any better returns. This is guesswork without knowing your AA or if you have other retirement assets, but at your age and low risk tolerance I would make it si...
by Duckie
Sat Mar 21, 2015 5:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: need help with 401K
Replies: 4
Views: 379

Re: Contributed to Roth, then exceeded income limits. Now Wh

We are usually in the 25% tax bracket (around $150K), except for this year with the additional condo sale income ($76K). Are you sure the condo sale is taxable? Was it her home for two of the last five years? What is our best choice? What questions should I ask myself? What additional info would so...
by Duckie
Sat Mar 21, 2015 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Contributed to Roth, then exceeded income limits. Now What?
Replies: 4
Views: 580

Re: A Common Sense portfolio makeover

average[joe] , welcome to the forum. Debt: Auto 1.89% Home Improvement Loan 3.0% Mortgage 3.85% Student Loan 2.8% Student Loan 4.625% We see the interest rates. What about the amounts? Even "good" debt can be a problem. Age: 35, 35 Desired Asset allocation: 90% stocks / 10% bonds 10% bond...
by Duckie
Fri Mar 20, 2015 6:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: A Common Sense portfolio makeover
Replies: 2
Views: 434

Re: Really confused about Roths

We've already filed our 2014 taxes. Does that mean it's too late to make a non-deductible 2014 contribution to an IRA? No, it's not too late. Since the contributions will be non-deductible there is no need to amend anything. You will need to fill out and file IRS Form 8606 to track your basis. You ...
by Duckie
Fri Mar 20, 2015 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Really confused about Roths
Replies: 16
Views: 2465

Re: Help with Form 8606 (Roth IRA Recharacterization)

Line 1 of Form 8606 asks for "nondeductible contributions to traditional IRAs for 2014, including those made for 2014 from January 1, 2015, through April 15, 2015 (see instructions)" Am I correct in assuming that I should enter the amount of my original contribution ($5,500 in my case), N...
by Duckie
Thu Mar 19, 2015 7:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Form 8606 (Roth IRA Recharacterization)
Replies: 7
Views: 679

Re: Several options Listed for my Vanguard Taxable Investing

[W]ould you say that I should change my Roth from Target Retirement Fund fund to 30% Bonds and then for my taxable account as (35%/35%) Total Stock and/or Total International Stock? You look at all retirement accounts as a whole, not each account separately. If your retirement AA is 35/35/30 and th...
by Duckie
Thu Mar 19, 2015 3:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Several options Listed for my Vanguard Taxable Investing
Replies: 8
Views: 1222

Re: Roth 401k Rollover + Switch to SEP

Is it critical to recharacterize my $1,000 contribution now, or wait for a few months when I can anticipate my year end income? There's no rush on this as long as the contribution was for 2015. Are there any disadvantages for picking a solo 401k over a SEP IRA? It seems to be a no brainer from what...
by Duckie
Wed Mar 18, 2015 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth 401k Rollover + Switch to SEP
Replies: 13
Views: 819

Re: Time For A Checkup

PocketChangePension wrote:Is there any rhyme or reason to why you picked 13% for the Small/Mid-Cap fund?

Roughly 80% large caps plus 20% mid/small caps makes up the total US stock market. 13% is roughly 20% of 63%.
by Duckie
Wed Mar 18, 2015 9:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time For A Checkup
Replies: 5
Views: 533

Re: Several options Listed for my Vanguard Taxable Investing

I recently had the chance to max out my 401(k) and Roth accounts and am now looking into taxable investing through Vanguard. Taxable bonds such as Total Bond, Long-Term Bond, and the bond portion in the LifeStrategy funds, do not belong in a taxable account. Put the bonds in your 401k and Roth IRA ...
by Duckie
Wed Mar 18, 2015 9:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Several options Listed for my Vanguard Taxable Investing
Replies: 8
Views: 1222

Re: Need Help on Portfolio

So how would structure your fixed income portion of a three fund portfolio if you did not want Total Bond? I don't object to having more than one bond fund, so it might end up being a four or five fund portfolio with several bond funds. Assuming this is a tax-sheltered account then: ( BIV ) Vanguar...
by Duckie
Wed Mar 18, 2015 9:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help on Portfolio
Replies: 1
Views: 252

Re: Time For A Checkup

Here are the non-linked details: ⋅ Large Cap Stock Fund (0.01%) = BlackRock Equity Index Fund (S&P 500 Index) ⋅ Small/Mid Cap Stock Fund (0.05%) = BlackRock Russell 2500 Index Fund ⋅ International Stock Fund (0.06%) = BlackRock MSCI World ex-US Index Index Fund &sdo...
by Duckie
Wed Mar 18, 2015 8:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time For A Checkup
Replies: 5
Views: 533

Re: Really confused about Roths

Huckleberry , welcome to the forum. It looks like you are the one with the TSP. If that is correct you can roll your $99K over to your TSP. That will allow for future 
 Backdoor Roth IRA 
 contributions. As for which is better, pre-tax or Roth, it depends on your situation. For most people pre-tax ...
by Duckie
Wed Mar 18, 2015 6:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Really confused about Roths
Replies: 16
Views: 2465

Re: Roth 401k Rollover + Switch to SEP

bfizz , welcome to the forum. Your situation: ⋅ You have a Roth IRA at Vanguard with $13K. ⋅ You have an old 401k with $29K, half pre-tax, half Roth. ⋅ You are now self-employed and expect to surpass the income limits for direct Roth IRA contributions. ⋅ You ...
by Duckie
Wed Mar 18, 2015 6:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth 401k Rollover + Switch to SEP
Replies: 13
Views: 819

Re: New 401(k) time - should I use BrokerageLink or VIIIX?

You're meaning to use VIIIX at 0.02% for the amount that my employer forces me to leave in the non-BrokerageLink account? Yes. It sounds like I should use VIIIX for my after-tax contributions until I roll them into my Roth IRA as well, especially since I'll put them into Vanguard Total Stock Market...
by Duckie
Mon Mar 16, 2015 6:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401(k) time - should I use BrokerageLink or VIIIX?
Replies: 4
Views: 474

Re: New 401(k) time - should I use BrokerageLink or VIIIX?

If I roll my pre-tax Old 401(k) into my new 401(k), then I can roll my Roth Old 401(k) into my Roth IRA. Yes. Would it be better to use the 0.02% Vanguard Institutional index fund? Yes. I would use VIIIX at 0.02% instead of PIMCO at 0.27%. (That's a great price for PIMCO Total Return. I've never se...
by Duckie
Mon Mar 16, 2015 5:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401(k) time - should I use BrokerageLink or VIIIX?
Replies: 4
Views: 474

Re: Hidden Fees

martiassr , welcome to the forum. Besides the nornmal fees ie: front end loads, high expense ratios, 12B-1 fees, etc, what other hidden fees do brokerages such as Edward Jones, T R Price, and others charge. This friend is mostly in advisory services at EJ and sees that charge on the monthly activit...
by Duckie
Mon Mar 16, 2015 5:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Hidden Fees
Replies: 2
Views: 357

Re: Mistake led to 1099-R - Tax Filing Question

jsullivan , welcome to the forum. the first is what should I have done to correct the mistake? Thinking about it now, I probably should have gone through a complete roll over type process to avoid the 1099-R being issued but I'm not sure. You should have contacted the custodian to do a trustee-to-t...
by Duckie
Mon Mar 16, 2015 3:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mistake led to 1099-R - Tax Filing Question
Replies: 3
Views: 498

Re: AA Recommendation and Update Portfolio

Hunter24 , welcome to the forum. Desired Asset allocation: 90-100% stocks / 0-10% bonds Desired International allocation: 0-15% of stocks Picking 10% bonds, and 15% of stocks in international (and I think both should be higher), that breaks down to 81% US stocks, 9% international stocks, and 10% bo...
by Duckie
Sat Mar 14, 2015 7:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA Recommendation and Update Portfolio
Replies: 3
Views: 372

Re: Looking for advice in cleaning up my portfolio

andersr , welcome to the forum. Stop contributing to the Ameriprise accounts. Do you have an employer plan? If so list the names, ticker symbols, and expense ratios. Where are the Rollover IRA, Roth IRA, and Vanguard funds held? Fidelity, Vanguard, Ameriprise, or somewhere else? Are the Vanguard fu...
by Duckie
Sat Mar 14, 2015 6:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Move funds out of a broker-managed acct?
Replies: 2
Views: 359

Re: Advice for New Investor w/ Tons of Graduate Debt

I have edited the original post to include the available funds in my 401K. Any suggestions on modifying my AA? The best options in the 401k are: SPTN 500 INDEX INST (FXSIX) (0.05%) SPTN EXT MKT IDX ADV (FSEVX) (0.07%) VANG TOT BD MKT ADM (VBTLX) (0.08%) With MULTI MANAGER INTL EQUITY FUND (0.7404%)...
by Duckie
Fri Mar 13, 2015 9:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for New Investor w/ Tons of Graduate Debt
Replies: 33
Views: 2918

Re: Backdoor Roth IRA Advice

Do I create the new Traditional IRA with Vanguard, transfer the Traditional from Fidelity, then transfer the Roth from Fidelity, and then convert the Traditional IRA at Vanguard to a Roth IRA? The process would be: ⋅ Open TIRA at Vanguard. ⋅ Transfer TIRA from Fidelity. ⋅&n...
by Duckie
Fri Mar 13, 2015 7:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Advice
Replies: 4
Views: 552

Re: Guidance Kindly Requested (Portfolio Review)

scottienj wrote:I have added my expense ratios for all funds.

In your 401k you listed four funds you own. Does your plan have any other options? If so, list them.
by Duckie
Fri Mar 13, 2015 6:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Guidance Kindly Requested (Portfolio Review)
Replies: 11
Views: 1218

Re: Funding my Retirement

I will have to ask if I can go straight from post tax 401 to IRA. Very likely I can, just didn't consider that there would be an advantage of going to IRA over 401k for Roth money. The only advantage of moving the after-tax funds to a Roth IRA would be if the options in the 401k are not very good. ...
by Duckie
Fri Mar 13, 2015 6:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Funding my Retirement
Replies: 4
Views: 835
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