Bogleheads.org

Turbotax acknowledged the bug. Hope it is fixed in desktop and online version soon.

http://turbotax.intuit.com/support/iq/R ... 66002.html

Thanks grabiner, that's what I was thinking of.

While the amount may be small, I would avoid the extra accounting if possible. Especially if you had reinvested dividends. Just wanted to point that out to OP should OP actually be near the 6 month mark.

I thought that tax-exempt dividends lose their tax-exempt status if you hold the security for less than 6 months. And that the Vanguard cost basis does NOT take this into consideration. If this is true, then it does make a difference which one is taken out (if you wait a couple more months). Can any...

Bad news folks. Seems it was a mistake and Fidelity/Turbotax disabled it. My account was showing a charge of $49.99 just now whereas yesterday it showed $0. The good news is I chatted with Turbotax support online and they gave me a single-use code to still get premier for free. If you still want it ...

Free Turbotax Premier Online (with e-filing) for people that have accounts at Fidelity. This is federal only. State is 36.99 extra. I believe this will also work for those with 401k at Fidelity. This would be another reason for people to use Turbotax. You will need to login. https://www.fidelity.com...

See, you should have insisted on finalizing the price and going to get a cashier's check for it, WITHOUT filling out the credit application form. Once you sign that form, it doesn't matter that you left the SSN blank or told them you didn't want to have your credit run. The fine print of the form a...

Did you buy the car? If so, did you finance elsewhere, pay with a cashiers check, a personal check, or something else happened? I did buy the car and paid with a cashier's check. Filled out the "credit application" as they said (or rather implied, I can't remember now) it was required. Pu...

I can confirm no SSN is required for the dealer to pull credit report. Dealer just did this to me, and it was a hard pull. Not happy

I received a letter with the new fee schedule today, as well. Unless I'm misreading, it would appear that Wellstrade accounts linked to a PMA Package will still not incur any annual fees. However, the balance requirements to waive the $30 monthly service fee for the PMA Package have increased. Prev...

I've done this before. You do not have to go to Ally to do this. Any place that offers a medallion signature will work. For example, I went to a wells fargo branch and the branch manager has a medallion stamp. I added my ING account to treasury direct this way. You can call your BoA branch and ask i...

Can anyone please explain me..who can do after tax 401K... 1) Called Vanguard and they said..it is only self employed or business owners 2) I see that here some people who work in mega corps...are able to do so..how so... I do not work for mega corp but would like do after tax 401K...is there any w...

This page lists the order of the distributions from roth IRA. http://fairmark.com/rothira/distrib.htm Regarding "Thanks cliffe. Does that mean there is no place (or need) to report a 401k --> roth conversion while filing taxes?" The conversion/taxable amounts go on line 16ab but other than...

For 2010, I got a 1099-R and the info went into Form 8606 part 3.

I just did my taxes for 2011 and the 1099-R info did NOT go anywhere on 8606. Similar as xerty24 mentioned, I also did not see any place in the 2011 8606 to hold this information.

Does one immediately rollover the after tax contributions, or are the scenarios here stating at end of year? For me, I would have to call Fidelity after every pay check and manually alert them to roll it over, hopefully directly to Roth IRA. (I have no other IRA's, just an empty Traditional IRA). I...

From the idea of the PP, can you still rollover a 401K while you are still employed with the company and contributing to it? This relies on the "in-service withdrawal". Allowed by the IRS but not all 401k plans allow it. And not all types of money in the 401k are eligible. Check your plan.

Check if your plan allows post-tax contributions. You already know it does not take Roth 401k contributions. I believe you should be able to make post-tax contributions without pre-tax contributions, but it may depend on the plan. If so, then you want to check if it allows in-service withdrawals so ...

Has anyone tried doing their taxes with the 1099R from after-tax 401k to Roth IRA using Turbotax? As described above, my 1099-R seems correct to me. However, when I put in the numbers, my total income is jumping by the COMBINED value of box 1 (gross distribution) and box 5 (employee contributions/de...

Since the after-tax check was made out to you, I'm guessing they could not put a G as it was not truly a direct rollover. The taxable amount is 0, and box 5 is the entire after-tax amount right? Gains part should be ok even though Box 2a (taxable amount) is 0. Since it was directly rolled over, it s...

Is this 1099R from vanguard or the other institution ? I thought if there's any problem in this, it would be from the sending institution.

wellmoneyed wrote:EDIT:Read more: I guess the hope/point is Step2 DOES NOT incur additional taxes.

Step 2 DOES NOT incur taxes on money that has already been taxed.

Strategy 2 and 3 both try to get the earnings into a Trad/Rollover IRA and the after-tax contributions into a Roth IRA. The difference seems to be in the exact steps to accomplish this. So are you saying that quadz42 steps sound like strategy 2 ? If so, that's where we differed. I was referring to i...

Sounds like you are looking to do something similar to strategy #2, which may not have the tax consequences you want. http://fairmark.com/rothira/09030801-401k-basis.htm I'm of the opinion that what quadz42 wants to do is ok and will not have any adverse tax consequences. I thought this scenario is...

Great point xerty24. The table in the link provided by quarterstock seems to put it fairly well. Watch out for the penalty for the taxable conversion part if under 59.5 and 5 year conversion holding. from http://fairmark.com/forum/read.php?2,54159 UNDER AGE 59.5 FIVE YEAR CONVERSION HOLDING PERIOD N...

Jumping in here. If I do have money in a tIRA(previous employer), but my 401(k) accepts rollovers, could I just roll the tIRA into the 401(k), and then have an empty tIRA and avoid problems with the prorata rule? Yes, that's what others have suggested as well. see http://thefinancebuff.com/the-back...

Thanks for looking into it BruceM and jpsfranks. I think I'll just treat it as a regular investment and not as an ESPP sale. The Turbotax ESPP guide is unable to take into consideration wash sales. (I'm using the Home & Business version) So the ESPP guide is useless in this regard. Going ahead w...

In my ESPP, we get a discount of 15% on the lower of the offering date and purchase date price. This link can show you some examples, though they don't explicitly show example of disqualifying disposition with capital loss. http://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Employee-Stock...

Looking for some advice here regarding reporting an ESPP wash sale in TurboTax. Sold around 12/28/2010. New lot came in 1/3/2011. The sell was above my buy price, but below the FMV on the purchase day, so there was +W2 income but also some short term capital loss. I tried to input it into Turbotax b...

Will I get the full company match for the year, or will I only get six months of match ($800) since I will only participate in my 401k for six months (even though I will have $11,000 witheld for the year)? Would a better strategy be to participate in my company 401k for the entire year, but lower t...

Aha, thanks! So even holding a tax efficient ETF, like SPY, and holding forever, it will still throw off some taxable dividends annually I suppose, which can be significant as the portfolio grows? and some of those dividends may be taxed at higher tax bracket than the 15% is the moral of the story?...

I see, well that leads me to ask another question. My Roth 401k is on vanguard (and has the total int stock fund). If I want to just use vanguard for everything is there any reason to not just increase my contribution to the roth 401k (currently only 2.25% of salary) and just not even contribute to...

It's not really that complicated. The key there is a special rule that only permits taxable money to be rolled from an IRA into a qualified plan. It's an explicit exception to the pro-rata rule. So you roll into a TIRA, then roll back the taxable portion. Then do a conversion of the remainder. Some...

My 401k plan also only let me do an in-service withdrawal of after-tax + associated earnings. I rolled it all into a Roth IRA and will pay taxes on the earnings part. Some have suggested a way to avoid paying the taxes by rolling the earnings into a trad IRA and then back into the 401k, but that was...

Regarding ML: True you get 30 free trades/month if you have 25K in your deposit account. Watch out for the maintenance fee if you don't have 50K: CMA account maintenance fee $25 per quarter, per household. Waived if the client meets just one of the following criteria: Has total combined balances of ...

********************************** Let's assume for the moment that I'm wrong in what I've said above. (It happens regularly :oops: ) Let's suppose that your employer lets you make the maximum of $49,000 of annual contributions (no employer match here). If you're under age 50, you get a $16,500 ann...

I just called my plan to ask... They said, the after tax 401K contributions are limited only to the 49K total plan limits including all my pre tax, post tax, and employer match. They also said this in no way affects me being able to put an additional 5K into an IRA outside this plan every year. Las...

It is my understanding that you may "save up" your qualified expenses that are not deducted on your tax return and reimburse yourself for them in a later year from your HSA with no tax consequence. Thanks FrugalInvestor and Cliffedelgado, and I'm glad to hear that one can withdraw from an...

Someone in the other thread said they will waive transfer fees. I have yet to get the notice in the mail. I may use this chance to move my Roth IRA to Vanguard. What do you guys think ? I've got less than 10k in this account. Good points about keeping at Wells Fargo: Balance in IRA counts toward 25k...

Here is another question on HSA Accounts. Assume that one pays for a qualified expense out of pocket, and the deductible has not been met. Can one withdraw that amount from their HSA only for that tax year, or can the expense be carried to a future year and withdrawn? I understand that expenses wit...

Ouch, I have some of PIMCO Total return in my 401k as well. (PTTRX)

Looks like it is due to capital gains distribution.

No texting on my plan. I turned it off so I can't receive texts at all. This way, they also can't charge me. They still charge the sender of the text though...

bearwolf - This is kind of what I'm getting at. So the deductible is with the HDHP, so if my deductible is $3,500, I have to spend $3,500 on medical expenses such as broken legs, car accidents, etc. that would require me to go to a doctor. OTC drugs, chiropractors, etc. all come out of my HSA, but ...

Thanks. From your previous post, it seems like whatever amount you convert to Roth is treated as taxable income. So, if I made a contribution to a traditional IRA with after-tax dollars, and then converted to Roth, would I essentially be paying taxes twice on that money? No, there won't be double t...

There are at least 2 possible options for getting money into a Roth IRA. 1) As you mentioned, open up a traditional IRA and contribute non-deductible money. Convert that to a Roth IRA 2) This is not as common as it depends on your employer 401k. Some allow you to contribute after-tax money to the 40...

I may have an engineering degree, but I am not good at this sort of thing. Since the conversion has to be done by Dec. 31, 2010, and I won't get all of my 1099s until early 2011, how does one go about knowing how much to convert? The same technique of estimating/extrapolating your remaining months ...

I believe the Roth conversion counts as ordinary income, so you would not be able to offset more than $3K of it using loss carryovers.

I'm not certain I understand. My wife and I can contribute $5000 each, every year since we are both less than 50. Our prior IRAs are fully converted . Am I missing anything? Everything else is in profit sharing plans, 401Ks and of course taxable accounts. Venkat Looks like the pro-rata rule doesn't...

Looks like the limit is 167k for full amount to roth IRA. Phase out between 167k and 177k. It all depends on your modified AGI.

And yes, contributing to the 401k reduces it and can make you eligible. I do this myself as well

+1 on looking into if in-service withdrawal of after-tax money is allowed by your company's plan The article posted above has some good discussion. Just wanted to point out it seems more geared toward distribution after leaving a job rather than in-service withdrawal. Not saying it's not applicable ...

does not seem like it has been announced yet.

was asked previously but can't post a link since i'm a newbie. search for "Maximum Contributions for 2011?"

This doesn't answer your question, but could be another advantage of the after-tax 401k.

Check if your plan allows in-service withdrawals prior to age 59. You may be able to roll over the after-tax 401k amounts into a Roth IRA while still employed.