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Re: Question about filing amended return

But it wasn't a waste. Look at all we have learned! Thanks for getting us started on the road to knowledge. :) Thanks for the positive outlook (and help)--haha, oye, well, I hope this thread at least spares someone else hours and hours of delightful tax amendment preparing time at some point... :P
by Hastibe
Mon Feb 17, 2014 3:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

So, I just need to secure the approval of the Secretary, eh? *sigh* See my links above, too (that I edited into my previous post). From the first link: "Rev. Rul. 55-655 The election provided by section 454 of the Internal Revenue Code of 1954 for a taxpayer to treat as income in a taxable year...
by Hastibe
Mon Feb 17, 2014 3:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

I also posted this question on this thread in the Fairmark forum, and someone wrote back saying that "So sorry, you can only change from a tax deferred status to paying annually on savings bonds in a timely filed return." Foo--I would be so bummed if this is the case, but -a ton of Google ...
by Hastibe
Mon Feb 17, 2014 2:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

sscritic wrote:Where did you read to write all over your Schedule B with a confession of the error of your previous ways? :)

Haha, okay, I guess that looks like it's unnecessary--I got this silly idea from this thread: viewtopic.php?f=1&t=116975
by Hastibe
Mon Feb 17, 2014 2:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

While I was working on putting together my amended tax return today, I realized that if I took the Lifetime Learning Credit, instead of the Tuition and Fees Deduction (it didn't make a difference before), I wouldn't owe any additional tax, after all! :D ...Now, I know it will probably take about a c...
by Hastibe
Mon Feb 17, 2014 1:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

That's for certain reimbursements of hurricane-related losses. Here is IRS Notice 2008-95, referred to in the instructions to Form 1040X: http://www.irs.gov/irb/2008-44_IRB/ar09.html. The Notice refers to the applicable statute, section 3082(a) of the Housing and Economic Recovery Act of 2008. Oh, ...
by Hastibe
Sun Feb 16, 2014 11:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Question about filing amended return

Thank you so much for our helpful responses, damjam and MarkNYC! No penalty, but isn't there interest on the unpaid balance? Bruce I was assuming that there would be, but I just read this on page 4 of the Instructions for 1040X , which implies that there might not be, in this case ( whoops, the quot...
by Hastibe
Sat Feb 15, 2014 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Question about filing amended return

I recently realized that it would ultimately save me several hundred dollars of taxes if I filed an amended 2012 income tax return in order to report the accrued interest on U.S. savings bonds that I have (this is because I am now in a higher tax bracket, so reporting the accrued interest in 2013 or...
by Hastibe
Sat Feb 15, 2014 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about filing amended return
Replies: 20
Views: 788

Re: Hobby or Self-Employment on Income Tax Return?

mptness wrote:What if you deduct the loss from selling the personal items and call it a wash?

That'd be nice, but "you may deduct capital losses only on investment property, not on property held for personal use" (see here), unfortunately.
by Hastibe
Fri Sep 13, 2013 7:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hobby or Self-Employment on Income Tax Return?
Replies: 17
Views: 1534

Re: Hobby or Self-Employment on Income Tax Return?

Get a grip on yourself man. I woudn't mention this to anyone. You sold something to someone at sometime somewhere and made a little money? And you want to report it as income. What you need an audit in your future or something? Don't mention this as anything to anyone --cchobby or whatever you want...
by Hastibe
Thu Sep 12, 2013 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hobby or Self-Employment on Income Tax Return?
Replies: 17
Views: 1534

Re: Hobby or Self-Employment on Income Tax Return?

stingray5688 wrote:the worst part is that this post is now saved on the internet forever :oops:

Wait... What? :confused
by Hastibe
Thu Sep 12, 2013 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hobby or Self-Employment on Income Tax Return?
Replies: 17
Views: 1534

Hobby or Self-Employment on Income Tax Return?

I occasionally sell items on Amazon and Ebay--in the past, these items have been personal-use property (which I sell for less than what I bought them for and thus have no tax liability). I enjoy selling items on Amazon and Ebay, because it's nice to get rid of an item that I'm not using, which someo...
by Hastibe
Thu Sep 12, 2013 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hobby or Self-Employment on Income Tax Return?
Replies: 17
Views: 1534

Re: Two Capital Gains Questions (selling on Amazon / Ebay)

Aptenodytes wrote:I can't tell if this is a troll or sincere, but the answer is "don't worry about it."

What can I say? I like doing things by the book, I guess. :P Well, thanks for the advice and for humoring me!
by Hastibe
Thu Sep 12, 2013 11:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Capital Gains Questions (selling on Amazon / Ebay)
Replies: 4
Views: 356

Re: Two Capital Gains Questions (selling on Amazon / Ebay)

On question 1, try this link . :wink: My first search result was this: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Tax-Tips-for-Online-Auction-Sellers Okay, very funny... :shock: I actually have done that Google search already, and have already read a lot of the articles on t...
by Hastibe
Thu Sep 12, 2013 9:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Capital Gains Questions (selling on Amazon / Ebay)
Replies: 4
Views: 356

Two Capital Gains Questions (selling on Amazon / Ebay)

Hello everyone! I've been selling some personal-use property on Amazon and Ebay, and related to that I have two questions about capital gains (below)--any help would be much appreciated! 1. As an example, one of the items I sold was an old Walkman of my dad's (he gifted it to me)--I sold it for $13 ...
by Hastibe
Thu Sep 12, 2013 9:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Capital Gains Questions (selling on Amazon / Ebay)
Replies: 4
Views: 356

Re: USAA to Geico for auto insurance?

I've found that AAA rivals (and sometimes beats) Geico for car insurance premiums, too--just a FYI.
by Hastibe
Thu Jul 11, 2013 11:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: USAA to Geico for auto insurance?
Replies: 19
Views: 1701

Re: Need Advice for Newbie Investor-18 Year Old Son

Anyone else with votes on good brokerage accts for our son? Simple flexible, low costs for MFs and ETFs, etc...? I have accounts with TD Ameritrade, and I've been very pleased with their customer service and online interface (and the fact that they have no account fees or minimum balances). They ha...
by Hastibe
Mon Jul 01, 2013 12:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Need Advice for Newbie Investor-18 Year Old Son
Replies: 12
Views: 739

Re: VIG OK In Taxable?

Check out the second part of this post (and the subsequent posts) in this thread. Hope this helps answer your question!
by Hastibe
Sun Jun 30, 2013 6:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: VIG OK In Taxable?
Replies: 2
Views: 492

Re: New member seeking investment advice

Welcome to the forum! :happy I highly encourage you to check out the Getting Started page on the Bogleheads Wiki, as well as the Bogleheads investment philosophy --I think these two pages, and the wiki pages they link to, will answer a lot of the questions that you have. Also, you might consider edi...
by Hastibe
Sun Jun 30, 2013 11:09 am
 
Forum: Investing - Help with Personal Investments
Topic: New member seeking investment advice
Replies: 3
Views: 192

Re: Portfolio review and advice - update 2

If I understand the principle, the benefit of having international funds in the taxable account is to take advantage of the foreign tax credit; however, the international funds seem to have greater tax implications...does this cancel out the benefit of the foreign tax credit and therefore make sens...
by Hastibe
Sun Jun 30, 2013 12:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio review and advice - update 2
Replies: 5
Views: 905

Re: What parameters do you track in your portfolio spreadshe

Wow, I think it's really interesting to see how everyone has designed their portfolio spreadsheet--in case other people are also finding it interesting, here's what mine looks like, just to add another:

Image
by Hastibe
Thu Jun 27, 2013 4:02 pm
 
Forum: Investing - Theory, News & General
Topic: What parameters do you track in your portfolio spreadsheet?
Replies: 89
Views: 14260

Re: Portfolio review and advice - update 2

Additionally my wife and I have this week finished paying off her $180,000 ($160,000 in principle, only $20,000 in interest) @6.8% med school loans in only 20 months! :beer Congrats! That's terrific! I'm jealous--my wife has almost exactly the same amount of med school loans as your wife originally...
by Hastibe
Tue Jun 25, 2013 8:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio review and advice - update 2
Replies: 5
Views: 905

Re: 27 year old Roth IRA advice please!!!

Welcome to the forum! It would be helpful to have some more information, to help ensure that you get the most informed advice. If you could edit your post to include the information specified here, that would be very helpful!
by Hastibe
Tue Jun 25, 2013 8:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: 27 year old Roth IRA advice please!!!
Replies: 2
Views: 294

Re: Portfolio Review (& Handling School Debt)

If anyone else has any more feedback/ideas/suggestions, etc. regarding my two questions in my first post, that would be much appreciated!
by Hastibe
Tue Jun 25, 2013 8:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review (& Handling School Debt)
Replies: 5
Views: 669

Re: MUB a decent ETF for Muni exposures

I'm looking to build an ETF portfolio in my taxable account using ETFs. For equities, I'm looking to allocate 35% VTI, 15% VEU, but I'm in a quandary for the 50% allocation to bonds. Just curious if there's a reason that you've chosen VEU instead of VXUS . Other discussions on this forum have made ...
by Hastibe
Tue Jun 25, 2013 8:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: MUB a decent ETF for Muni exposures
Replies: 5
Views: 616

Re: Why is Morningstar's chart so different from Yahoo's?

In my experience, you can only trick Morningstar into showing a "Growth of $10k" chart for ETFs if you start with a mutual fund on the chart, then add ETFs separately. Otherwise, you are stuck with a NAV chart. I can't speak to what is shown on Yahoo or Google. Thanks for all the replies!...
by Hastibe
Tue Jun 25, 2013 3:58 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Morningstar's chart so different from Yahoo's?
Replies: 12
Views: 1097

Re: Bond reassurance.... Anyone?

HonoluluGator wrote:I know the Bogleheads philosophy well now, and know I need to stay the course. I just need reassurance... If appropriate!!!

I found this thread on the Boglehead forum and this blog post by Oblivious Investor to be insightful and reassuring.
by Hastibe
Mon Jun 24, 2013 11:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bond reassurance.... Anyone?
Replies: 23
Views: 2177

Re: Why is Morningstar's chart so different from Yahoo's?

Is there any way to verify that? (I couldn't find anything...) You really think that explains the differences? Also, what would explain the differences between Yahoo's chart and Google's chart, then? I'm so confused!
by Hastibe
Mon Jun 24, 2013 11:40 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Morningstar's chart so different from Yahoo's?
Replies: 12
Views: 1097

Why is Morningstar's chart so different from Yahoo's?

Just as an experiment, I was using charts to compare the past performance of Vanguard's Total U.S. Stock Market ETF (VTI) to the stocks of Verizon (VZ), Fidelity Information Services (FIS), Cisco (CSCO), and Intel (INTC). I was really surprised to see Morningstar's chart differ so much from Yahoo's ...
by Hastibe
Mon Jun 24, 2013 10:55 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Morningstar's chart so different from Yahoo's?
Replies: 12
Views: 1097

Re: Asset Allocation Critique

Sounds and looks like a great start--congrats and best of luck! Definitely feel free to check back in and let us know how things are going. :happy
by Hastibe
Sat Jun 22, 2013 12:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation Critique
Replies: 16
Views: 1338

Re: Portfolio Review (& Handling School Loans)

I'm not sure what your specialty is (i.e. earning potential), but... So if working in an environment that allows you to receive the loan repayment is something you inherently want, go for it. But don't do it just for the money. Thanks for the response, zebrafish--it's actually my wife who will be t...
by Hastibe
Thu Jun 20, 2013 9:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review (& Handling School Debt)
Replies: 5
Views: 669

Re: Portfolio Review & Advice for Young Investor

Also check out the Boglehead Wiki and the page on it about the Bogleheads investment philosophy. I found these resources to be very helpful when I was just starting to learn about all of this.
by Hastibe
Thu Jun 20, 2013 2:04 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review & Advice for Young Investor
Replies: 4
Views: 395

Re: Portfolio Review & Handling School Loans

Oh, and also a few explanations about our reasoning about some parts of the portfolio, in case people are wondering: ⋅ In the calculations I've done about holding bonds in our Roths versus holding bonds in taxable, my calculations have indicated that over the long-term we would pay less ta...
by Hastibe
Wed Jun 19, 2013 8:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review (& Handling School Debt)
Replies: 5
Views: 669

Portfolio Review (& Handling School Debt)

Emergency funds: 8 months in an online savings account @ 0.9% APY Debt: $215K @ 6.8%, 2.4K @ 1.8%, $2.3K @ 5% - all med school loans (we are still in school, and we haven't been repaying them yet--we are thinking of pursuing Income Based Repayment + Public Service Loan Forgiveness ) Tax Filing Stat...
by Hastibe
Wed Jun 19, 2013 8:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review (& Handling School Debt)
Replies: 5
Views: 669

Re: How to Change Beneficiary of IRA from Trust to Person?

It worked! American Century Investments changed the title of the beneficiary Roth IRA from the trust to the trust's beneficiary! :sharebeer Thank you so much for all of your help!
by Hastibe
Mon Jun 17, 2013 7:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Change Beneficiary of IRA from Trust to Person?
Replies: 25
Views: 1442

Re: Help with portfolio, fiduciary hourly advisor

tacomainvestor wrote:I don't necessarily prefer actively managed funds at this point, but that is all I have had in my life.

When you have a little time, I'd also point you towards Taylor Larimore's excellent review of The Three Fund Portfolio--it may provide answers to some of the questions/doubts that you have.
by Hastibe
Sun Jun 16, 2013 6:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with portfolio, fiduciary hourly advisor
Replies: 139
Views: 5792

Re: novice physician investor, please help

1) I am a novice so any general investment tips regarding asset allocation and minimizing costs would be appreciated. In the meantime, I will read the classic Western philosophers like Bogle, Ferri and Bernstein. Have you checked out the Boglehead Wiki and the Bogleheads investment philosophy page ...
by Hastibe
Sun Jun 16, 2013 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: novice physician investor, please help
Replies: 33
Views: 2835

Re: Let's talk cash

I personally wouldn't worry about laddering, since the early withdrawal option provides the alternative to reinvest at higher rates if rates rise. Aren't early withdrawal abilities not necessarily guaranteed, though? I remember reading a discussion on another thread here earlier this year, and a po...
by Hastibe
Sun Jun 16, 2013 3:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Let's talk cash
Replies: 41
Views: 5509

Re: Let's talk cash

I don't need the money right now--- or maybe ever. I'm blessed with a very large cushion. So...was thinking CDs...read up on them. Seem like a good idea. Do I trust on-line backs like GE Capital or Ally? Do I trust their high ratings that I see published @ Bankrate.com? Any recommendations? Obvious...
by Hastibe
Sun Jun 16, 2013 3:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Let's talk cash
Replies: 41
Views: 5509

Re: Article about young americans not using credit cards

It's difficult to rent a car or a hotel room without a credit or debit card. I would be hesitant to use the latter in those situations unless you use a dedicated account with very little in it and no overdraft. Haha, I do have a debit card--why should I not use a debit card to rent a car or hotel r...
by Hastibe
Sun Jun 16, 2013 2:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Help with portfolio, fiduciary hourly advisor

The only problem with that BL is that I have yet to even find an hourly advisor who sells actively managed funds, they want to sell index funds. I am willing to try index funds to see if I can still survive on them and save money on advisor costs. I don't think you've said, and I'm curious--why do ...
by Hastibe
Sun Jun 16, 2013 2:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with portfolio, fiduciary hourly advisor
Replies: 139
Views: 5792

Re: Article about young americans not using credit cards

Also keep in mind that some of these young folks, while they may not have credit cards, have significant student loan debt that needs to be paid off. As one of the more than 37 million people with student loan debt, I agree. The overwhelming majority of my friends (whom are aged 24-30) cannot affor...
by Hastibe
Sat Jun 15, 2013 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Article about young americans not using credit cards

Managing your finances when you're using only cash, checks, and debit cards is basically a Level 0 understanding of finances. Money in must be > money out for this system to work. Using credit cards is Level 1, where you have to think into the future. I really disagree with this--responsible manage...
by Hastibe
Sat Jun 15, 2013 11:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Help with portfolio, fiduciary hourly advisor

Welcome to the forum, tacomainvestor! If it's possible, I would suggest that you try to edit down your first post as much as possible to contain just the essential information --this should result in more responses, as the block-o-text you got there is a bit intimidating. :happy Here is what I would...
by Hastibe
Sat Jun 15, 2013 11:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with portfolio, fiduciary hourly advisor
Replies: 139
Views: 5792

Re: Article about young americans not using credit cards

Looks like Millennials, don't drive, don't use credit cards, don't go to college... I don't think they are gonna get well paying jobs either. Hope the Chinese will have pity on them... Regarding Millennials, at least, I don't think you're right about the college part (not that it's necessarily help...
by Hastibe
Sat Jun 15, 2013 8:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Article about young americans not using credit cards

If you apply for a mortgage together, then yes. Well, foo. So, if I had a credit history and score, in addition to my wife, it could result in us paying a lower interest rate? It's difficult to rent a car or a hotel room without a credit or debit card. I would be hesitant to use the latter in those...
by Hastibe
Sat Jun 15, 2013 7:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Vanguard Brokerage Account

I'm only familiar with TD Ameritrade (which I've had a really great experience with--I just wish they add VXUS to their commission-free ETF list!), but I ran across this website recently (http://www.brokerage-review.com/), which looked like it provided fairly accurate reviews (though I did notice so...
by Hastibe
Sat Jun 15, 2013 6:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Brokerage Account
Replies: 12
Views: 1250

Re: Asset Allocation Critique

Glad this has been helpful, bobloblaw! When I was researching this fund and the trailing returns and it's performance over 1,3,5,10,15 years it seemed to always under perform compared to the Total Stock Market Index? I can understand why you'd want to have international funds, but didn't we see duri...
by Hastibe
Sat Jun 15, 2013 5:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation Critique
Replies: 16
Views: 1338

Re: Article about young americans not using credit cards

I'm in my late 20s, and I've never had a credit card nor ever been in debt, so I have no credit history or score. I've never had a need for credit, and the idea of choosing to manage something that I don't need hasn't made any sense for me (that said, I have no doubt that I would be able to manage i...
by Hastibe
Sat Jun 15, 2013 2:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 4873

Re: Asset Allocation Critique

Additionally, beyond saving for retirement, for which it looks like you've got a pretty good plan, are there other major expenses that you and your wife are saving for (like a house down payment, a replacement car if you have a current one that will eventually bite the dust, your child's education--...
by Hastibe
Sat Jun 15, 2013 3:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation Critique
Replies: 16
Views: 1338
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