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Re: Portfolio Check: 32 yrs old, going to rebalance to 78/22

If you're that set on moving to 78/22, why don't you up your contribution amount into the Fidelity Intermediate Bond until you reach the allocation you desire. Right, that's another way to do it. When it comes down to it, is it just a matter of personal preference? I mean, between making a conversi...
by icedtea
Tue Apr 22, 2014 9:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Check: 32 yrs old, going to rebalance to 78/22
Replies: 10
Views: 842

Re: Portfolio Check: 32 yrs old, going to rebalance to 78/22

Please post using the suggested format... we need to know what percentages you allocate to each account (not just current holdings), your tax rate, etc. First glance - you have a ton of your portfolio in taxable (including International which isn't recommended on this forum). You might want to bump...
by icedtea
Tue Apr 22, 2014 9:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Check: 32 yrs old, going to rebalance to 78/22
Replies: 10
Views: 842

Portfolio Check: 32 yrs old, going to rebalance to 78/22

I've broken down my portfolio and future contributions below. My current AA is 81/19. I've been thinking of exchanging some stocks to bonds in my old 401k to shift to 78/22. This would be in line with age-10 = bonds. I've been sticking to 81% stocks for the past 12m -- it was an impulse to get a lit...
by icedtea
Tue Apr 22, 2014 7:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Check: 32 yrs old, going to rebalance to 78/22
Replies: 10
Views: 842

Re: If you leave your job, can you use up your whole FSA?

Nothing about repayment, exactly, but it sounds like they would take the remaining amount out of your last check. I've read up on this also as I'm currently in the process of a job change...everything I've found says you can use it all up and the employer eats the cost. We just spent quite a bit on...
by icedtea
Fri Apr 18, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

Re: If you leave your job, can you use up your whole FSA?

OP here. Thanks for the posts. One more question. If you incur eligible FSA expenses such as contact lenses or an eye exam before your termination date, but it takes 2-3 weeks for the FSA company to process your claim, can your employer restrict the FSA from reimbursing you once you've terminated em...
by icedtea
Thu Apr 17, 2014 11:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

Re: If you leave your job, can you use up your whole FSA?

My employer says: "Options at End of Employment: You can have the remainder of your election taken pre-tax on your final paycheck(s); or You can continue your coverage and send payment directly to the [X]." Nothing about repayment, exactly, but it sounds like they would take the remaining...
by icedtea
Thu Apr 17, 2014 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

Re: If you leave your job, can you use up your whole FSA?

Yes you can; one caveat is that generally you must use up your FSA by your last day (or sometimes the last day of the month) of your employment. So a 4/20 term date means you need to have your receipts on or before 4/20. Etc. Right. What I'm wondering is if by law an employer can demand the employe...
by icedtea
Thu Apr 17, 2014 10:55 am
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

Re: If you leave your job, can you use up your whole FSA?

Yes you can; one caveat is that generally you must use up your FSA by your last day (or sometimes the last day of the month) of your employment. So a 4/20 term date means you need to have your receipts on or before 4/20. Etc. Right. What I'm wondering is if by law an employer can demand the employe...
by icedtea
Thu Apr 17, 2014 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

If you leave your job, can you use up your whole FSA?

My research shows that if you leave your job during the calendar year, you can use up all your FSA money, even though you haven't paid fully into the plan through regular paychecks. I've done this at two companies, actually, and never heard any complaints from my employers. My question is, if you do...
by icedtea
Thu Apr 17, 2014 12:27 am
 
Forum: Personal Finance (Not Investing)
Topic: If you leave your job, can you use up your whole FSA?
Replies: 29
Views: 1908

Re: Last Minute Help with Foreign Tax Paid and 1099R

If the foreign tax is < $300 (if filing single) or $600 (if filing married) you can enter the tax amount directly on the 1040 on line 47. Right, I know that. That doesn't answer my question #3. I really don't know what TA requires but if your foreign passive income is less than $20K you don't have ...
by icedtea
Tue Apr 15, 2014 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Last Minute Help with Foreign Tax Paid and 1099R

jebmke wrote:If the foreign tax is < $300 (if filing single) or $600 (if filing married) you can enter the tax amount directly on the 1040 on line 47.


Right, I know that. That doesn't answer my question #3.
by icedtea
Tue Apr 15, 2014 5:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Last Minute Help with Foreign Tax Paid and 1099R

I got some help from Tax Act, and this is what they told me. See my inserts in green. Does this all make sense? I was planning to file an extension since I was still waiting for a corrected 1099R but it came in the mail, so I'm filing today. Question 1: I contributed after tax to my 401k last year, ...
by icedtea
Tue Apr 15, 2014 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Last Minute Help with Foreign Tax Paid and 1099R

Thanks David.

I have two other questions in this thread I'm hoping I can get some help with. Anyone out there can give me a hand? See questions 1 and 2 at the top of the page.
by icedtea
Tue Apr 15, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Last Minute Help with Foreign Tax Paid and 1099R

Not knowing how much foreign tax was withheld from your distributions, I am going to punt and suggest completing form 1116. It looks scary but for passive investments in funds (RIC) it is really quite simple. The foreign tax $ listed in the Foreign Tax Paid form is small: $163.55 for one fund and $...
by icedtea
Tue Apr 15, 2014 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Should I be using standard or itemized deduction?

I am assuming you are not a homeowner, so no mortgage interest or property tax. Did you own a car and pay a tax based on value as part of your registration fee? Did you give to charity? There are other deductions that you can only take if they exceed 2% of your AGI. Tax preparation is one of them. ...
by icedtea
Tue Apr 15, 2014 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I be using standard or itemized deduction?
Replies: 10
Views: 694

Re: Last Minute Help with Foreign Tax Paid and 1099R

Bumping this post due to timeliness. I was planning to file an extension since I was still waiting for a corrected 1099R but it came in the mail, so I'm filing today. Question 1: I contributed after tax to my 401k last year, and then rolled over the money to my Vanguard Roth IRA. I entered the 1099R...
by icedtea
Tue Apr 15, 2014 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: Should I be using standard or itemized deduction?

Look at Schedule A Itemized Deductions to see what kinds of deductions you can itemize: http://www.irs.gov/pub/irs-pdf/f1040sa.pdf If your state income taxes are higher than the standard deduction amount, then you can itemize deductions. Take a look to see if you can itemize anything else. Schedule...
by icedtea
Tue Apr 15, 2014 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I be using standard or itemized deduction?
Replies: 10
Views: 694

Should I be using standard or itemized deduction?

I am reviewing my 1040 and line 40 says $7868. I thought I was taking the standard deduction, so why is this amount listed? How do I verify if this is correct? The Deduction Examiner in Tax Act shows: Standard Deduction: 6100 Exemption Allowance: 3900 Itemized deduction: Taxes you paid: $7868 Edit: ...
by icedtea
Tue Apr 15, 2014 11:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I be using standard or itemized deduction?
Replies: 10
Views: 694

Re: Last Minute Help with Foreign Tax Paid and 1099R

Not knowing how much foreign tax was withheld from your distributions, I am going to punt and suggest completing form 1116. It looks scary but for passive investments in funds (RIC) it is really quite simple. The foreign tax $ listed in the Foreign Tax Paid form is small: $163.55 for one fund and $...
by icedtea
Tue Apr 15, 2014 10:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Last Minute Help with Foreign Tax Paid and 1099R

I was planning to file an extension since I was still waiting for a corrected 1099R but it came in the mail, so I'm filing today. Question 1: I contributed after tax to my 401k last year, and then rolled over the money to my Vanguard Roth IRA. I entered the 1099R information in Tax Act but it says I...
by icedtea
Tue Apr 15, 2014 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Last Minute Help with Foreign Tax Paid and 1099R
Replies: 12
Views: 325

Re: A few Tax Act questions - nothing too complex

I was able to find answers to my first 2 questions. Any help with #3? 3. This is my first time filing for an extension. I'm aware I need to pay any taxes by April 15th to avoid penalties. I've completed my taxes aside from the questions above, and Tax Act says I'm getting refunds for $851 (federal)...
by icedtea
Sat Apr 12, 2014 5:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: A few Tax Act questions - nothing too complex
Replies: 3
Views: 194

Re: A few Tax Act questions - nothing too complex

I was able to find answers to my first 2 questions. Any help with #3? 3. This is my first time filing for an extension. I'm aware I need to pay any taxes by April 15th to avoid penalties. I've completed my taxes aside from the questions above, and Tax Act says I'm getting refunds for $851 (federal) ...
by icedtea
Sat Apr 12, 2014 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: A few Tax Act questions - nothing too complex
Replies: 3
Views: 194

A few Tax Act questions - nothing too complex

I'm filing for an extension due to some issues getting a corrected 1099R, but in the meantime I'm finishing up my taxes and had a couple questions. 1. When I am asked to enter my dividend income for foreign income, such as foreign source ordinary and qualified dividends, I need to indicate how the i...
by icedtea
Sat Apr 12, 2014 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: A few Tax Act questions - nothing too complex
Replies: 3
Views: 194

Re: Errors on 1099R, What happens?

We have a similar problem. Bu we file for an extension and will wait until the correction of the correction of the correction of the corrected 1099R gets to us. This is what I would do. OP, your tax return isn't due until October 15. You have plenty of time to sort this out with ING. Thanks, I'll f...
by icedtea
Fri Apr 11, 2014 8:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Errors on 1099R, What happens?
Replies: 4
Views: 283

Errors on 1099R, What happens?

I have been dealing with ING about a 1099R for 6 weeks. State Street, which handles the paperwork for my old 401k, issues the forms. The 1099R they first sent me had the incorrect dollar values in the form. The next version had the incorrect values and they were in the wrong boxes. They've sent me f...
by icedtea
Fri Apr 11, 2014 3:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Errors on 1099R, What happens?
Replies: 4
Views: 283

Re: Taxes question regarding cap gains on after tax 401k

Now when you eventually roll over the rest of the plan to an IRA, and if the plan continues to track your basis as the reps indicated, you could file an 8606 on your TIRA to add $110 of basis on line 2 to your TIRA. But the only way you would be reminded that you had basis in your 401k would come f...
by icedtea
Thu Apr 10, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes question regarding cap gains on after tax 401k
Replies: 2
Views: 234

Taxes question regarding cap gains on after tax 401k

I contributed after tax money to my 401k last year in addition to maxing my pretax contributions. During the year I executed an in-service withdrawal of the balance of my after tax and rolled the money over to my Roth at Vanguard. This is a technique which has been written about on the forum often, ...
by icedtea
Wed Apr 09, 2014 11:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taxes question regarding cap gains on after tax 401k
Replies: 2
Views: 234

Evaluating new 401k funds

I'm 32. I have an 81/19 AA. No debt. I'm a renter. I just got a new 401k (no match) and am planning on contributing 81% to Spartan Total Market Index and 19% to Fidelity Intermediate Bond. I figured I'd share my full list of funds and see if anyone has other suggestions. Sorry, the formatting is a b...
by icedtea
Fri Jan 17, 2014 4:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Evaluating new 401k funds
Replies: 1
Views: 154

Re: Buying iBonds in my early 30s: Wise or maybe not?

I first bought $5k in iBonds in 2012. I was considering buying another $5k in iBonds this year, at the end of this month. I'm 31. I live in NY where I pay fed/state/city tax. Here are my current thoughts to support these purchases. Does this make sense? - I hope to have children so I figure I could...
by icedtea
Mon Nov 11, 2013 7:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buying iBonds in my early 30s: Wise or maybe not?
Replies: 23
Views: 2320

Re: Should I leave my old 401k w/ JP Morgan or move 2 Vangua

umfundi wrote:Do you have a new 401k?

Other things being roughly equal, I would consolidate to fewer accounts.

Keith


I will have a new 401k in Feb once the waiting period ends.
by icedtea
Mon Nov 11, 2013 7:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I leave my old 401k w/ JP Morgan or move 2 Vanguard?
Replies: 8
Views: 980

Re: Buying iBonds in my early 30s: Wise or maybe not?

I first bought $5k in iBonds in 2012. I was considering buying another $5k in iBonds this year, at the end of this month. I'm 31. I live in NY where I pay fed/state/city tax. Here are my current thoughts to support these purchases. Does this make sense? - I hope to have children so I figure I could...
by icedtea
Mon Nov 11, 2013 6:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buying iBonds in my early 30s: Wise or maybe not?
Replies: 23
Views: 2320

Buying iBonds in my early 30s: Wise or maybe not?

I first bought $5k in iBonds in 2012. I was considering buying another $5k in iBonds this year, at the end of this month. I'm 31. I live in NY where I pay fed/state/city tax. Here are my current thoughts to support these purchases. Does this make sense? - I hope to have children so I figure I could ...
by icedtea
Mon Nov 11, 2013 3:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buying iBonds in my early 30s: Wise or maybe not?
Replies: 23
Views: 2320

Re: Should I leave my old 401k w/ JP Morgan or move 2 Vangua

Thanks both. Just curious, is the reason to move it to Vanguard only to simplify things? Does this outweigh the lower ERs at JP Morgan? I'm just trying to understand the rationale, not questioning it per se. More for my own learning...

Iced Tea
by icedtea
Wed Nov 06, 2013 2:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I leave my old 401k w/ JP Morgan or move 2 Vanguard?
Replies: 8
Views: 980

Should I leave my old 401k w/ JP Morgan or move 2 Vanguard?

I recently switched jobs and I'm evaluating whether to leave my old 401k with JP Morgan or move the funds to my Rollover (Tradtl) IRA with Vanguard. Can you weigh in on this? JP Morgan funds and expenses: BlackRock NS US Debt Index-W 0.06 ER BlackRock Russell 1000 Index NL-W 0.03 ER BlackRock Russel...
by icedtea
Mon Nov 04, 2013 10:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I leave my old 401k w/ JP Morgan or move 2 Vanguard?
Replies: 8
Views: 980

How do you compare the value of a 401k match with salary?

If you're negotiating compensation at a new job, how do you compare the value of a 401k match with your salary? For example, if an employer pays a match of up to 6% of your gross salary, and you earn $100,000 per year in salary, do you value the 401k match at $6,000? Or is the match worth more than ...
by icedtea
Mon Nov 04, 2013 6:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do you compare the value of a 401k match with salary?
Replies: 16
Views: 1745

Re: Evaluating my new 401k w/ no match - still worth it?

Thanks all for the posts. I figured the tax savings would make it well worth it, plus the low cost index funds available to me. Ya know, I was really good in terms of negotiating with the new company, but only up to a point. I felt I was already asking for quite a bit between a sign-on bonus and a s...
by icedtea
Thu Oct 31, 2013 8:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Evaluating my new 401k w/ no match - still worth it?
Replies: 12
Views: 1229

Re: Evaluating my new 401k w/ no match - still worth it?

You can contribute to a ROTH first if you desire post-tax contributions. But I see no reason why you wouldn't want to contribute to a Fidelity 401k that offers the standard Spartan funds at the standard expense ratios. A match is nice but it's not the end all be all of retirement savings. Thanks. R...
by icedtea
Wed Oct 30, 2013 3:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Evaluating my new 401k w/ no match - still worth it?
Replies: 12
Views: 1229

Evaluating my new 401k w/ no match - still worth it?

I just started a new job, and while I knew there'd be a 401k, I didn't no there wouldn't be a match until now. It's a bummer but I'm getting treated very well in terms of salary and bonus so I'm still coming out ahead compared to my last job and I'm happy about that. The change of scenery and new ch...
by icedtea
Wed Oct 30, 2013 3:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Evaluating my new 401k w/ no match - still worth it?
Replies: 12
Views: 1229

Re: Help with vacation accrual policy at job

Being "in your third year of service" may not be the same as "once a person gets to three years of service". Have you completed three years of service as of the first of this year? The way the policy is written, you get a boost in vacation days to 15 once you begin your 3rd year...
by icedtea
Sat Oct 26, 2013 9:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with vacation accrual policy at job
Replies: 4
Views: 705

Help with vacation accrual policy at job

I have a question about my company's vacation accrual policy. I called our new HR rep about this but she didn't know the details, so I'm still trying to find another person in the company who can help. In the meantime, I'm curious what you think. The policy itself reads as: "Vacation is accrued...
by icedtea
Fri Oct 25, 2013 8:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with vacation accrual policy at job
Replies: 4
Views: 705

Saved 2012 fed and state returns, do I need anything else?

I received an email from TaxAct indicating that my access to my 2012 returns expires on 10/31, so I saved PDFs of my federal and state (NY). Just to be certain, do I need to save anything else from Tax Act in order to handle 2013 taxes? I have hard copies of all my interest statements, work earnings...
by icedtea
Thu Oct 24, 2013 6:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Saved 2012 fed and state returns, do I need anything else?
Replies: 6
Views: 599

Re: Help with W-4: how many allowances?

You could use the IRS's withholding calculator to figure this out: http://apps.irs.gov/app/withholdingcalculator/. You'll need pay stubs to enter year-to-date taxes paid along with estimates of any itemized deductions and a few other items like education tax credits, etc. Off hand, I would say that...
by icedtea
Thu Oct 24, 2013 6:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with W-4: how many allowances?
Replies: 2
Views: 463

Help with W-4: how many allowances?

I'm switching jobs, and I'm completing a new W-4 and IT-2104 (NY state). For 2012 taxes, I owed NY $566 so this year I am a single zero on my IT-2104 and I've been withholding an additional $42 per pay period. I think that should help. For 2012 taxes, I received a $588 refund from the feds. I've bee...
by icedtea
Wed Oct 23, 2013 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with W-4: how many allowances?
Replies: 2
Views: 463

Re: May be switching jobs, 401k question

OP again. Another idea I just had... The new company wants me to start in 2 weeks, but the nicer thing to do to my current company would be give them 3 weeks. This would also mean I'd get a larger final paycheck and thus more money in my pretax 401k. The new job pays about $5k more annually in base ...
by icedtea
Tue Oct 08, 2013 12:04 am
 
Forum: Investing - Help with Personal Investments
Topic: May be switching jobs, 401k question
Replies: 6
Views: 443

Re: May be switching jobs, 401k question

One may not be eligible for 401(k) contributions right away at a new employer. If that is the case, then 2 things: (1) Get in with current employer while the gettin' in is good. (2) During salary & perks negotiations make sure one at least asks for a sign-up bonus to cover the loss of 401(k) el...
by icedtea
Mon Oct 07, 2013 10:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: May be switching jobs, 401k question
Replies: 6
Views: 443

Re: May be switching jobs, 401k question

If I switch companies I'll have one more paycheck coming along with the unused vacation days. I'm pretty sure the vacation pay will be combined with my regular pay so it'll be a large check. Not necessarily. When I quit I received a final paycheck just for the pay period. It was a couple of weeks l...
by icedtea
Mon Oct 07, 2013 10:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: May be switching jobs, 401k question
Replies: 6
Views: 443

May be switching jobs, 401k question

A while ago I wrote a post asking for input about jobs where you have to travel a lot. Well, I ended up passing on that job opportunity. I think that was for the best. But I just found another job that looks really good, has much less travel than the other one I considered, and is overall a solid fi...
by icedtea
Mon Oct 07, 2013 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: May be switching jobs, 401k question
Replies: 6
Views: 443

Re: In-service withdrawals of after tax 401k for rollover 2

Alan S. wrote:The loss should erase your former gain. The 1099R should consolidate all your distributions for the calendar year as if you did only one total distribution.


That's good to know. Where can I find that in the tax law?
by icedtea
Tue Sep 10, 2013 8:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: In-service withdrawals of after tax 401k for rollover 2 Roth
Replies: 7
Views: 644

Re: Considering new job. How much value is a 401k to you?

Retired now, but if I was still in the job market in-service withdrawals wouldn't be a big concern for me. The 401K is a tool for saving for retirement and the easier it is to get the money out the more tempted I might be to do it. Regarding the value of a 401K, it is part of the total compensation...
by icedtea
Tue Sep 10, 2013 12:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Considering new job. How much value is a 401k to you?
Replies: 16
Views: 1543

Considering new job. How much value is a 401k to you?

I have a very good 401k plan that allows me to invest in index funds, and lets me make after tax contributions and do in-service withdrawals, so I can roll the after tax $ to my Roth IRA and let it grow tax free (just having to pay tax on any gains at the time of the withdrawal from my 401k...). I'v...
by icedtea
Mon Sep 09, 2013 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Considering new job. How much value is a 401k to you?
Replies: 16
Views: 1543
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