Bogleheads.org

retiredjg wrote:Any possibility you have a spouse with earned income?

Nope, I'm single.

Ok, so all of my income came from sports betting this year. I entered all my wins and losses under "Gambling Winnings" in Turbo Tax. Then, I started fooling around with the Roth IRA deductions and credit part, because I was planning on contributing the max for the 2012 year here in a coup...

Ok, so all of my income came from sports betting this year. I entered all my wins and losses under "Gambling Winnings" in Turbo Tax. Then, I started fooling around with the Roth IRA deductions and credit part, because I was planning on contributing the max for the 2012 year here in a coup...

Ok, so all of my income came from sports betting this year. I entered all my wins and losses under "Gambling Winnings" in Turbo Tax. Then, I started fooling around with the Roth IRA deductions and credit part, because I was planning on contributing the max for the 2012 year here in a coupl...

Perfect. I already have good record keeping, so that won't be an issue. Thanks for the help everyone.

bueller? bueller ?

Quick question: I did not claim SE for 2012, but I will be for 2013. Is there any paperwork or anything that needs to be done ahead of time to show I'll be SE in 2013, or do I just file as SE come tax time? Been looking all around the net, just can't find anything. I will be SE as a professional gam...

At the end of the day you are going to do what you are going to do, but I would just suggest this: if you are going to put money into Lending Club do it outside of an IRA. Use the tax-advantaged space for traditional investment vehicles. If you are only 25 you are counting on Lending Club being aro...

My situation is unique. I'm a 25 yr old professional sports bettor, so I have no 401k, or anyone matching anything. I'll actually have to set up a Traditional and convert it into a Roth, because of my income this year. Why are you doing the Roth conversion? Since you don't have an employer plan, yo...

Also, keep in mind that Lending Club charges some pretty big fees unless you're willing to put $5,000 in this year and then $5,000 more next year. To qualify for a No-Fee IRA through SDIRA Services you must have an initial minimum balance of $5,000 or more in Lending Club Notes and maintain this mi...

My situation is unique. I'm a 25 yr old professional sports bettor, so I have no 401k, or anyone matching anything. The money going to LC will be a very small portion of my total assets and net-worth. I'm willing to take the risk. I know of a few guys who have a successful strategy in dealing with t...

First off, is it to late to set up a Roth IRA and make a contribution for 2012? I know you can still make contributions until 4/15, but what about starting one up? Is that any different? Not sure if that would make the contribution go towards 2013. I actually have a Roth already at some bank, that I...