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Re: Can you put after tax RMD withdrawals into ROTH?

Wizard's timing sequence is a very good. However, before you take your RMD I would go ahead and estimate my income taxes for the year, including any extra income tax required for a planned Roth conversion. I would then have my IRA custodian withhold all the income taxes from the RMD in mid December....
by earlyout
Fri Apr 18, 2014 5:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can you put after tax RMD withdrawals into ROTH?
Replies: 25
Views: 1132

Re: Taxes owed in taxable account

Deleted. Incorrect information. See next post. .
by earlyout
Thu Apr 17, 2014 8:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes owed in taxable account
Replies: 18
Views: 1020

Re: SS Strategy Metric

I considered two factors, both mentioned elsewhere in this thread. First was the income floor while we are both alive as well as the income floor for the surviving spouse. The second value was the size of the investment portfolio at age 75. By delaying SS until 70 we were able to convert a substanti...
by earlyout
Wed Apr 16, 2014 9:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy Metric
Replies: 55
Views: 3126

Re: Suggestions - Postpaid to Prepaid & Porting to VOIP prov

I'm trying to understand your goals here. Have you moved and want your old numbers to follow you to your new location/new numbers? Do you just want to have new telephone numbers and not miss calls from your old numbers? If you do not need new numbers, it would be much simpler just to port the number...
by earlyout
Thu Apr 03, 2014 8:21 am
 
Forum: Personal Consumer Issues
Topic: Suggestions - Postpaid to Prepaid & Porting to VOIP provider
Replies: 6
Views: 404

Re: Amended Taxes and Payment

But you still have to decide if you include the original refund on your amended return or on your wife's amended return. Or do you split it between the two returns?
Speaker phones are not expensive.
by earlyout
Tue Apr 01, 2014 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Amended Taxes and Payment
Replies: 8
Views: 450

Re: Roth IRA question

Fairmark.com has good answers to a lot of IRA and tax questions I'll quote from the Fairmark site regarding your question: http://fairmark.com/retirement/roth-accounts/contributions-to-roth-accounts/modified-adjusted-gross-income/ "Q: What if I contribute to a Roth IRA, and later find out that ...
by earlyout
Sat Mar 29, 2014 5:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roth IRA question
Replies: 4
Views: 440

Re: Buying Condo where I'm renting in DC suburbs (Montgomery

You compare only the HOA and mortgage costs against your current rent. As an owner you will also have property tax and your homeowners insurance will be higher. You will also have to budget for maintenance costs which you do not have as a renter.
by earlyout
Thu Mar 27, 2014 8:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying Condo where I'm renting in DC suburbs (Montgomery)
Replies: 10
Views: 800

Re: State taxes and out of state rental property

Which MLPs would those be? Probably 90% of MLPs have negative income in the states where they operate. A real estate MLP that I was sold by a "financial advisor" 15 years ago has properties in Colorado and in Wisconsin. Both states require the MLP to withold state income tax. Fortunately ...
by earlyout
Sat Mar 22, 2014 11:06 am
 
Forum: Investing - Theory, News & General
Topic: State taxes and out of state rental property
Replies: 25
Views: 1236

Re: State taxes and out of state rental property

Do I really have to fill out a non-resident state income tax return if I have a rental property in another state? Need to review state tax website to see if you have to file a tax return. Most states excuse taxpayers whose income is below a certain amount from filing a tax return. That's how most n...
by earlyout
Sat Mar 22, 2014 10:15 am
 
Forum: Investing - Theory, News & General
Topic: State taxes and out of state rental property
Replies: 25
Views: 1236

Re: Residency Tax Question

Thanks pshonore. I am on a federal government TDY to my headquaters in Washington DC from my NY office. My understanding from my agency is that my home of record is NJ and that I don't have to file in DC. They said that my TDY is not taxable unless it exceeds 24 months. I'm not paying the rent in D...
by earlyout
Fri Mar 21, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Residency Tax Question
Replies: 20
Views: 957

Re: Understanding the LT Cap Gains Tax

If you had a LT gain of $5500 and had only $4500 of carry over loss, your net LT gain is $1000. If the $1000 did not push you into the 25% bracket,; it would be taxed at 0%.
by earlyout
Thu Mar 20, 2014 1:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Understanding the LT Cap Gains Tax
Replies: 11
Views: 666

Re: Understanding the LT Cap Gains Tax

When you added the LT gain, your carry over losses offset the new LT gain rather than offsetting other income. The LT gain was not taxed so you made a gift of the loss carryover. The net result is that there is more regular income being taxed and the refund is less.
by earlyout
Thu Mar 20, 2014 1:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Understanding the LT Cap Gains Tax
Replies: 11
Views: 666

Re: Curious on tax return for mom and dad..

Since they did have earned income, you could increase their refund significantly by giving them the funds to make their IRA contributions for 2013. At their low income, the saver's credit (which is a refundable credit) would be worthwhile. EDIT: This is not correct. This is NOT a refundable credit.
by earlyout
Mon Mar 17, 2014 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Curious on tax return for mom and dad..
Replies: 22
Views: 1840

Re: 2013 tax filing issues

A penalty will be shown on line 77 or your form 1040. What does it show?
by earlyout
Mon Mar 17, 2014 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: 2013 tax filing issues
Replies: 33
Views: 1007

Re: LED lights currently worth it personal financewise?

Isn't this supposed cost savings just a a way to rationalize a decision to try new technology? It doesn't make any difference if the LED bulbs last 10 years or 20 years. Are you going to take all these LED bulbs with you when you move in 5 years?
by earlyout
Sat Mar 15, 2014 6:11 pm
 
Forum: Personal Consumer Issues
Topic: LED lights currently worth it personal financewise?
Replies: 55
Views: 2499

Re: Vanguard Brokerage Corrected Statements and Turbotax

I purposely waited to file my taxes hoping that the corrected 1099's were final. Yesterday's mail had a second set of corrected 1099's from VBS. The good news is my taxes will decrease $83. My questions are: 1. Can I efile again with Turbotax for free? Do I file an amended return? You have already ...
by earlyout
Sun Mar 09, 2014 9:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard Brokerage Corrected Statements and Turbotax
Replies: 6
Views: 549

Re: Reporting RMD on Turbo Tax

I think the answer is b since the question asks whether she received all of her RMD in 2013. It doesn't hurt to experiment and try a and then try b and see what Turbo Tax does with each. You can always go back and try the other answer.
by earlyout
Sat Mar 08, 2014 12:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reporting RMD on Turbo Tax
Replies: 26
Views: 1537

Re: Retirees: About your retirement

chaz wrote:A natural development.

It just happened. I really enjoyed my job and had done well. We knew we probably had enough money to support ourselves and with a decent early retirement offer at 59 I found myself retired. Never really had a "goal" to retire or planned for it in any big way.
by earlyout
Fri Mar 07, 2014 4:55 pm
 
Forum: Investing - Theory, News & General
Topic: Retirees: About your retirement
Replies: 55
Views: 5496

Re: Tax confusion & Questions...

Wouldn't it be a lot easier just to keep your residence in GA and file taxes as a GA resident? If your only objective for "living" in TN is to avoid GA income tax on your TN income you should run a simulation with tax software to see how much the tax will actually be? Is it worth it? Your ...
by earlyout
Sun Feb 16, 2014 9:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax confusion & Questions... [Residence in multiple states]
Replies: 11
Views: 486

Missing indicator that thread has been read

I use bogleheads.org to access the forum. In the past if a thread had been opened and closed, the title of that thread would appear in a different color until a new post was added to the thread. For the past 3 or 4 days this color change no longer occurs. Any clues as to what I did to mess up this c...
by earlyout
Sat Feb 15, 2014 2:30 pm
 
Forum: Forum Issues and Administration
Topic: Missing indicator that thread has been read
Replies: 5
Views: 393

Re: Marginal tax rate: statutory 15%, effective 30%

Don't overlook the fact that a Roth conversion can be reversed. It is not uncommon to convert an excess amount during the calendar year and then in February or March when you know your exact tax bill, recharacterize the excess amount of the conversion that would put some of your income into the next...
by earlyout
Mon Feb 10, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Marginal tax rate: statutory 15%, effective 30%
Replies: 100
Views: 6872

Re: Phone Porting Issues

I've not had a problem with porting (yet) but it could be helpful if we knew the names of the voip provider and the telecom that you have. Knowing who the providers are would be worthwhile information to others moving to voip. Have you tried the support people at OBi or the ObiTalk Forum? Both have ...
by earlyout
Sat Feb 01, 2014 11:45 am
 
Forum: Personal Consumer Issues
Topic: Phone Porting Issues
Replies: 4
Views: 349

Re: How to drop advisor from Schwab acct?

When you call Schwab to have them drop the advisor you should make clear that they understand how you want to handle the account. Go over the options with the Schwab Customer Service rep. Do you want to reinvest dividends or hold as cash? Electronic or hard copy reporting? Format of report? I went t...
by earlyout
Mon Jan 27, 2014 12:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to drop advisor from Schwab acct?
Replies: 11
Views: 1093

Re: Cheap Flights to Europe, where do you find them?

It is usually interesting when looking for flights to try google.com/flights. After you enter your origin and destination, click on the little bar graph icon below and to the right of the return date. You can then look at the fares for various dates shown graphically. Very easy and quick to check fo...
by earlyout
Wed Jan 22, 2014 4:02 pm
 
Forum: Personal Consumer Issues
Topic: Cheap Flights to Europe, where do you find them?
Replies: 43
Views: 3065

Re: Cost of connecting older condo to outside cable?

The most important consideration is the quality of your internet connection. With poor bandwidth, connecting the VOIP device directly to your cable modem will provide better voice quality since the telephone conversation will then have priority. The second network connection on the Ooma could then b...
by earlyout
Tue Jan 21, 2014 12:13 pm
 
Forum: Personal Consumer Issues
Topic: Cost of connecting older condo to outside cable?
Replies: 16
Views: 820

Re: If Not TurboTax, What?

Turbotax shows a 23502 on line 7. I did not round the w-2 entries.
by earlyout
Sun Jan 19, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: If Not TurboTax, What?
Replies: 143
Views: 11832

Re: Which Year Is Expense Deductible?

I copied the sentence from your post and entered it in Google. The second item found includes the following:

"In terms of timing, the deduction is available in the tax year in which the bill was paid, not when services were rendered. "
by earlyout
Sun Jan 19, 2014 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which Year Is Expense Deductible?
Replies: 9
Views: 679

Re: Airline "oversize" luggage -- how to measure?

Just a suggestion, but I think you should check the American Airlines baggage restrictions. It had been 50 pounds for a number of years and when I checked just now, my reading of their regulations is that the weight limit is still 50 pounds per bag for travel to South America.
by earlyout
Sat Jan 18, 2014 8:51 pm
 
Forum: Personal Consumer Issues
Topic: Airline "oversize" luggage -- how to measure?
Replies: 13
Views: 831

Re: Dividend withdrawals and RMD

fourniks wrote:...

So I could start taking dividends and Capital gains at 59.5 but still not have to take RMDs until 70.5?


Yes, but the dividends and capital gains, since they come from the IRA, will be taxed as regular income.
by earlyout
Wed Jan 15, 2014 11:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Dividend withdrawals and RMD
Replies: 27
Views: 935

Re: Question on Water Meter in Pit

I agree, you would not want the meter right behind the wall. Could you leave it at the current depth and move it in front of the wall?
by earlyout
Fri Jan 10, 2014 10:48 am
 
Forum: Personal Consumer Issues
Topic: Question on Water Meter in Pit
Replies: 12
Views: 663

Re: Question on Water Meter in Pit

The dirt is an insulator on top of any buried object. Make sure the meter pit is at least 4 feet in back of the retaining wall.
by earlyout
Fri Jan 10, 2014 9:42 am
 
Forum: Personal Consumer Issues
Topic: Question on Water Meter in Pit
Replies: 12
Views: 663

Re: Question on Water Meter in Pit

Does anyone know anything about water meter pits? Before my house was built, there was another house on the lot. That house had a 4 foot meter pit. (The frost depth is 4 feet in my area.) When that house was demolished and my house was built, the land around the pit was built-up by 4 feet (to add a...
by earlyout
Fri Jan 10, 2014 9:30 am
 
Forum: Personal Consumer Issues
Topic: Question on Water Meter in Pit
Replies: 12
Views: 663

Re: Bogleheads.org Homepage

The format of bogleheads.org and diehards.org follows the format that was created initially as an index to the bogleheads forum on Morningstar. It is the format many of us have used for many years. Many readers, including myself, find it very useful and thinkit is the most efficient way to access th...
by earlyout
Sun Jan 05, 2014 5:40 pm
 
Forum: Forum Issues and Administration
Topic: Bogleheads.org Homepage
Replies: 76
Views: 4240

Re: Net Worth Survey, 2014 Edition

Just tried to enter my data and it would not accept a reasonable number for total portfolio?????? Someone mentioned earlier not to use a commas. If that's not the issue can you please send me a PM with the value you tried to enter? I did put upper and lower bounds on some of the fields. When I stop...
by earlyout
Sun Jan 05, 2014 3:42 pm
 
Forum: Investing - Theory, News & General
Topic: Net Worth Survey, 2014 Edition
Replies: 149
Views: 18687

Re: Net Worth Survey, 2014 Edition

Just tried to enter my data and it would not accept a reasonable number for total portfolio??????
by earlyout
Sun Jan 05, 2014 2:49 pm
 
Forum: Investing - Theory, News & General
Topic: Net Worth Survey, 2014 Edition
Replies: 149
Views: 18687

Re: 2013 TurboTax: Which Product? New Rules?

Interesting. Thanks. Won't be the first time I've wasted money.
by earlyout
Sat Jan 04, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2013 TurboTax: Which Product? New Rules?
Replies: 302
Views: 28958

Re: 2013 TurboTax: Which Product? New Rules?

I just ordered TT Deluxe w/ State CD for 34.99 and free shipping at this url:
[link removed by admin LadyGeek]
by earlyout
Sat Jan 04, 2014 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2013 TurboTax: Which Product? New Rules?
Replies: 302
Views: 28958

Re: Investors beware... account security IS important!

Perhaps these are the limits on passwords for ESA accounts. I use Schwab for IRAs and taxable accounts and have 16 character passwords, lower case, upper case and numbers. Schwab will also provide a random number password token device (whatever they are called) if you request same. Furthermore, Sch...
by earlyout
Sat Jan 04, 2014 11:53 am
 
Forum: Personal Consumer Issues
Topic: Investors beware... account security IS important!
Replies: 89
Views: 7411

Re: Investors beware... account security IS important!

Perhaps these are the limits on passwords for ESA accounts. I use Schwab for IRAs and taxable accounts and have 16 character passwords, lower case, upper case and numbers. Schwab will also provide a random number password token device (whatever they are called) if you request same. Furthermore, Schw...
by earlyout
Fri Jan 03, 2014 8:43 pm
 
Forum: Personal Consumer Issues
Topic: Investors beware... account security IS important!
Replies: 89
Views: 7411

Re: Anyone use the Obi VOIP device?

The numbers look good for inbound (DID) and outbound calling. The base of 2.49 plus the 300 minutes I mentioned above gives my total of $5.50. The nice thing is if you are away or don't use the phone very much, the price goes down.
by earlyout
Thu Jan 02, 2014 10:10 pm
 
Forum: Personal Consumer Issues
Topic: Anyone use the Obi VOIP device?
Replies: 28
Views: 2135

Re: Anyone use the Obi VOIP device?

I need to correct my monthly cost. Using voip.ms, e911, 200 minutes of outgoing calls, and 100 minutes of incoming calls (DID) are $5.50 / month. Additional calls, in or out, are 1 cent per minute. With voip.ms you make an initial deposit and they just deduct your monthly charges. How does it work? ...
by earlyout
Thu Jan 02, 2014 9:06 pm
 
Forum: Personal Consumer Issues
Topic: Anyone use the Obi VOIP device?
Replies: 28
Views: 2135

Re: Anyone use the Obi VOIP device?

runner, Most of the VOIP service providers like voip.ms, anveo and callcentric allow you to get a new number for your incoming calls. The selection of new numbers is limited so it may be difficult to get a number with the area code you would like. The providers each have different billing schemes fo...
by earlyout
Thu Jan 02, 2014 4:02 pm
 
Forum: Personal Consumer Issues
Topic: Anyone use the Obi VOIP device?
Replies: 28
Views: 2135

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

Should be another good year. 1982
by earlyout
Wed Jan 01, 2014 4:36 pm
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 525
Views: 10655

Re: Which tax bracket? Any suggestions for my year end?

Given the information presented, your short term gains will be taxed at 25% (regular income) and your long term gains will be taxed at the capital gain rate of 15%.
by earlyout
Thu Dec 26, 2013 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which tax bracket? Any suggestions for my year end?
Replies: 3
Views: 345

Re: 2013 TurboTax: Which Product? New Rules?

Is Vanguard aware of this change in TT products? We should all complain to Vanguard and try to convince them to support another product. Intuit would lose their free advertising. It may be too late to change what happens for 2013 taxes but a loud protest from the Bogleheads to Vanguard may help conv...
by earlyout
Fri Dec 06, 2013 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2013 TurboTax: Which Product? New Rules?
Replies: 302
Views: 28958

Re: Cash flow in retirement. What's your system?

Our SS checks are deposited into the checking account and this is enough to cover routine monthly expenses. If there are large bills such as annual property taxes, a large purchase or travel expense, I'll transfer enough funds from our taxable investment account (selling whatever has done well recen...
by earlyout
Thu Dec 05, 2013 6:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cash flow in retirement. What's your system?
Replies: 24
Views: 2948

Re: Timing a ROTH Conversion

The only timing on a Roth conversion is that it must be done by the end of the year. How or when you invest the funds in the Roth is a separate decision. The suggested thing to do is to just recharacterize whatever is in the TIRA, in kind, to a Roth IRA. Your do not have to sell what is in the TIRA ...
by earlyout
Thu Dec 05, 2013 3:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Timing a ROTH Conversion
Replies: 10
Views: 546

Re: Stocks and bonds placement in retirement

Keep in mind that If you sell equities in your taxable account and have a net positive capital gain, although it may be taxed at 0%, it is still reported as income and will fill up part of the 15% tax bracket. In other words, any net positive capital gain will decrease the amount of tax advantaged f...
by earlyout
Sun Dec 01, 2013 4:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Stocks and bonds placement in retirement
Replies: 38
Views: 2182

Re: Why is the SS website closed?

I just looked at ssa.gov and it seems to be working fine.
by earlyout
Fri Nov 29, 2013 11:55 am
 
Forum: Investing - Theory, News & General
Topic: Why is the SS website closed?
Replies: 25
Views: 2051

Re: Weekend Trips with Young Children in Texas

Texas is a big state. Where are you starting from?
by earlyout
Thu Nov 28, 2013 6:06 pm
 
Forum: Personal Consumer Issues
Topic: Weekend Trips with Young Children in Texas
Replies: 4
Views: 409
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