Search found 3047 matches

Return to advanced search

Re: HSA not reflected on W2

You should definitely ask your payroll folks about it, especially if this is the first year that your employer has offered HDHP/HSA. This is a good suggestion and I would emphasize to the OP that livesoft is recommending you ask PAYROLL , not Human Resources. I agree with this. HR personnel often d...
by jebmke
Fri Jan 30, 2015 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA not reflected on W2
Replies: 15
Views: 599

Re: HSA not reflected on W2

We do not have a code W on box 12 on our W2. We were making contributions every paycheck yo HSA and this was being reflected on our paystubs. So should the W2 be corrected? It depends. If the contributions were made by the employer (out of their pocket, not yours) then yes. If they were deducting i...
by jebmke
Fri Jan 30, 2015 9:17 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA not reflected on W2
Replies: 15
Views: 599

Re: minor Roth did indirect rollover, but not filing taxes

Unfortunately a 1040 isn't definitive either. An amount on line 7 for Wages doesn't necessarily correspond to compensation which qualifies for IRA purposes. In most cases it does but not all.
by jebmke
Fri Jan 30, 2015 8:50 am
 
Forum: Investing - Help with Personal Investments
Topic: minor Roth did indirect rollover, but not filing taxes
Replies: 10
Views: 342

Re: HSA not reflected on W2

The portion of the HSA that was paid by the employer should be in Box 12, code W. If your employer made a payment to your HSA and did not report it on your W2, they need to issue a corrected W2. You should not file your taxes until you receive it. If the payment was made by you, it will not appear o...
by jebmke
Fri Jan 30, 2015 8:25 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA not reflected on W2
Replies: 15
Views: 599

Re: turbotax: foreign bank interest ?

This is why I hate retail tax software and their interviews. Go to forms view (somewhere in the menu will take you to the actual forms). There will be something that may be called Interest Worksheet or something similar. Or, pull up Schedule B - there is probably a link on one of the lines of Schedu...
by jebmke
Wed Jan 28, 2015 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: turbotax: foreign bank interest ?
Replies: 13
Views: 637

Re: What Book Are You Currently Reading? Part VI

Looks like we have movies blended in with books.
by jebmke
Tue Jan 27, 2015 2:18 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 442
Views: 57386

Re: What Book Are You Currently Reading? Part VI

The Secret Place by Tana French
by jebmke
Tue Jan 27, 2015 2:17 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 442
Views: 57386

Re: Refund from the IRS? Why?

Also, sometimes the forms are more clear than the interview questions. Form 8889 for example is pretty straightforward. I have screwed up my own HSA reporting in preliminary runs through on Turbotax in interview mode. When I use Taxwise for my actual return, which requires forms mode, I get it right...
by jebmke
Tue Jan 27, 2015 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Refund from the IRS? Why?
Replies: 45
Views: 4271

Re: Refund from the IRS? Why?

How is your tax return prepared? You aren't one of us do-it-yourselfers I gather. If software or a CPA prepares it, do you not read it before signing it? I'm willing to bet that many e-filers who use retail software do not review the actual return. They answer the questions and keep answering quest...
by jebmke
Tue Jan 27, 2015 11:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Refund from the IRS? Why?
Replies: 45
Views: 4271

Re: Snow on Gas Meter?

Speaking of blast from the past, … I recall a house on my street blowing up when I was in the 7th grade due to a gas explosion. The front door still in the frame with some attached brickwork almost made it to the street. It was the first time I saw melted silverware. Happened near us years ago. Wom...
by jebmke
Mon Jan 26, 2015 9:07 pm
 
Forum: Personal Consumer Issues
Topic: Snow on Gas Meter?
Replies: 13
Views: 1496

Re: New car safety features

A friend of mine has a new van with all kinds of features (side cameras, line tracking ...). He finally shut everything off except the backup camera. He said it was so distracting he was afraid he was going to kill someone. I am really worried about the on board built in smartphone equivalents being...
by jebmke
Mon Jan 26, 2015 4:52 pm
 
Forum: Personal Consumer Issues
Topic: New car safety features
Replies: 70
Views: 3622

Re: Reporting 1098-T on Tax Return

You report this on your return -- form 8863.
by jebmke
Mon Jan 26, 2015 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reporting 1098-T on Tax Return
Replies: 2
Views: 397

Re: Need to retain original tax documents?

I've been audited twice and also submitted supporting docs for numerous taxpayers who have had inquiries regarding entries. In all cases, copies or printed PDFs were accepted.
by jebmke
Sat Jan 24, 2015 11:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Need to retain original tax documents?
Replies: 2
Views: 379

Re: Malware problem on new PC

Some malware disables Windows Restore and erases all the back points. You can't get the old restore points back and it was a nuisance trying to figure out how to get Restore working again, it required a change to the registry which can be tricky. Other malware prevents malwarebytes from running in ...
by jebmke
Fri Jan 23, 2015 4:23 pm
 
Forum: Personal Consumer Issues
Topic: Malware problem on new PC
Replies: 42
Views: 2624

Re: What Book Are You Currently Reading? Part VI

The Burning Room by Michael Connelly. Typical Harry Bosch story.
by jebmke
Wed Jan 21, 2015 5:23 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 442
Views: 57386

Re: HSA... any receipt savers?

Yes, I have. They requested all documents supporting all entries on Schedule A and Form 8889. Interesting, and they were OK with the receipts you provided for HSA withdraws? Anything that caught you by surprise (in terms of HSA)? No, they were OK. I provided a reconciliation for the qualified expen...
by jebmke
Wed Jan 21, 2015 5:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA... any receipt savers?
Replies: 188
Views: 8347

Re: HSA... any receipt savers?

I'm curious, has anyone actually been audited, or had to provide receipts? This may warrant a separate thread, but I'm wondering when/if this happens, what are they going to expect? I'm just assuming the worst, so I save everything I can think of. Yes, I have. They requested all documents supportin...
by jebmke
Wed Jan 21, 2015 5:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA... any receipt savers?
Replies: 188
Views: 8347

Re: HSA... any receipt savers?

We do this for any medical bill > $100. We initially did it for all bills, but there were just too many $4 prescription receipts to keep track off. After paying out of pocket, I scan a copy of the receipt and store with the credit card statement showing the purchase and the EOB (if applicable). Thi...
by jebmke
Wed Jan 21, 2015 4:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA... any receipt savers?
Replies: 188
Views: 8347

Re: HSA... any receipt savers?

packet wrote: periodically scanning and saving/printing them?

Too much work. You might consider instead having your doctors provide an annual statement like the pharmacies do for scripts. Unless you have a lot of different providers that will cut down on the paper.
by jebmke
Wed Jan 21, 2015 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA... any receipt savers?
Replies: 188
Views: 8347

Re: HSA... any receipt savers?

I saved them for a while and then changed my strategy and now flush them through every year. I decided that this is one less thing to deal with when I become feeble or for my spouse to deal with when I keel over. Plus some of the receipts were starting to fade. I still keep them for a few years -- t...
by jebmke
Wed Jan 21, 2015 4:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA... any receipt savers?
Replies: 188
Views: 8347

Re: 1099-DIV error(?)

rob wrote: I wait until the dust settles anyway before lodging the return anyway but it does seem confusing at BEST

Right. By April it should be close enough to file for an extension. By the end of summer there is a good chance everything is correct.
by jebmke
Tue Jan 20, 2015 3:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: 1099-DIV error(?)
Replies: 14
Views: 1455

Re: Be careful: Turbo Tax and Foreign Tax Credit

1116 appears complicated because it covers a range of activities. For most passive investors (especially if only in RICs) it is quite simple actually. The key for forms like this is to read through the IRS instructions and cross out all the sections that don't apply. Usually what is left isn't that ...
by jebmke
Mon Jan 19, 2015 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Be careful: Turbo Tax and Foreign Tax Credit
Replies: 13
Views: 1555

Re: Be careful: Turbo Tax and Foreign Tax Credit

You should be able to verify the calculations by following line by line on Form 1116. This is an example of why I really think that interview mode in tax software is bad. A good interview should get to the same (correct) answer every time given a set of facts. IMO interview mode is a crutch and a po...
by jebmke
Mon Jan 19, 2015 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Be careful: Turbo Tax and Foreign Tax Credit
Replies: 13
Views: 1555

Re: Non-Cash Donations More than 50% of Adjusted Gross Incom

Audits aren't that big a deal but they do take some time. Be aware that if they decide to audit you, they will probably do a complete Schedule A audit. I have had two of these, each triggered by a single large entry on Schedule A. One year was a large non-cash donation but in both cases they request...
by jebmke
Mon Jan 19, 2015 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Non-Cash Donations More than 50% of Adjusted Gross Income
Replies: 9
Views: 986

Re: laptop reccommendations

I would look at Asus or Lenovo. With Windows 8.1 you can install Classic Shell and the system will behave pretty much the same as Windows 7. So I wouldn't be concerned about finding Windows 7 machines. If you are mainly using word processing and browsing, you don't need the top end processor - havin...
by jebmke
Sat Jan 17, 2015 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: laptop reccommendations
Replies: 7
Views: 1015

Re: HSA contribution question

Correct
by jebmke
Tue Jan 06, 2015 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA contribution question
Replies: 3
Views: 280

Re: Paper Statements

Just logged into my bank online and got a message on the screen: "1099-Int Not Mailed" Less than $10 interested was earned. Paper 1099 will not be generated."
by jebmke
Mon Jan 05, 2015 3:29 pm
 
Forum: Personal Consumer Issues
Topic: Paper Statements
Replies: 68
Views: 3397

Re: Last year before retirement more about spending than sav

One thing we did do during the last year before retirement is fund 10 years of charitable donations by opening a donor advised fund and donating appreciated securities. That definitely popped our spending in the last year but it was purely a tax rate arbitrage move. The timing worked out well since ...
by jebmke
Fri Jan 02, 2015 12:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 1928

Re: Buying daughter an apartment. From where to take funds?

Isn't the lifetime exclusion over $5 million? So what you are really talking about is avoiding filing a gift tax return. The lifetime exclusion can be applied here I think. Others with more knowledge on gift taxes will chime in I am sure.
by jebmke
Fri Jan 02, 2015 12:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying daughter an apartment. From where to take funds?
Replies: 13
Views: 1564

Re: Electronic Financial Documents/Banking

Anything I need for tax purposes that is not already in e-format I scan. That isn't very much. I think property tax bill is the only thing I get on paper. The PDF bank statement has a copy of the canceled check so really, I am covered even if I didn't scan the tax bill.
by jebmke
Fri Jan 02, 2015 11:57 am
 
Forum: Personal Consumer Issues
Topic: Electronic Financial Documents/Banking
Replies: 6
Views: 608

Re: Last year before retirement more about spending than sav

Try this. Suppose you are planning to retire 12/31/15. The roof is due to be replaced in 2017 and will cost $25K. So this year, put the $25K you need for a roof aside (CD if you want to do mental accounting, otherwise, just put it into your portfolio). Then when the roof needs to be replaced, replac...
by jebmke
Fri Jan 02, 2015 11:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 1928

Re: Last year before retirement more about spending than sav

So you see no value in buying an item like a car that will last 10 years for cash before retirement Not if my existing car is in good shape and doesn't need to be replaced, no. In fact, if I were going to try to "time" a car purchase, I'd wait until the next big recession to get a better ...
by jebmke
Fri Jan 02, 2015 11:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 1928

Re: Last year before retirement more about spending than sav

Large items need to be part of your retirement budget -- if not, you probably can't afford to retire anyway. I certainly wouldn't buy a car or paint the house unless it was needed. Retirement date would have nothing to do with it.
by jebmke
Fri Jan 02, 2015 11:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 1928

Re: How do I protect my mutual fund accounts from hacking?

Older Vanguard customers without the text feature Age may have nothing to do with it. Cell service is very weak in our area. In the house, there is only one spot that you even have a slight chance that a voice call will work. Text is 50/50 that it will get through. Don't have to drive too far to ge...
by jebmke
Fri Jan 02, 2015 11:03 am
 
Forum: Investing - Theory, News & General
Topic: How do I protect my mutual fund accounts from hacking?
Replies: 44
Views: 2534

Re: Charitable Deductions - Valuation of Clothing

receipts might be required on audit I have had two audits involving Schedule A. One was A-only and another was A and Form 8889. In both cases the service requested documentations for every line on the form. In both cases I knew which entry triggered the audit. I asked a friend of mine who is a reti...
by jebmke
Thu Jan 01, 2015 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Charitable Deductions - Valuation of Clothing
Replies: 3
Views: 441

Re: Accessing Bank from someone else's Wifi

Quickfoot wrote:holy encrypt your hard drive

This can be done by your priest?

Seriously, I agree. Should not carry data around not encrypted.
by jebmke
Wed Dec 31, 2014 4:26 pm
 
Forum: Personal Consumer Issues
Topic: Accessing Bank from someone else's Wifi
Replies: 10
Views: 1633

Re: Withdrawel

I know a lot of retirees. None of them use a fixed percentage method. Most use "earnings only" (pension, dividends and interest) or just judgement.
by jebmke
Tue Dec 30, 2014 4:23 pm
 
Forum: Investing - Theory, News & General
Topic: Withdrawal
Replies: 12
Views: 1257

Re: Using Wash Sale Rule to avoid Capital Gains

c_b is correct. Wash sale rule only applies to losses.
by jebmke
Tue Dec 30, 2014 2:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Using Wash Sale Rule to avoid Capital Gains
Replies: 2
Views: 308

Re: Index funds suffer greater losses in a market decline?

I skimmed the article and didn't spot any empirical data supporting his hypothesis. Did you?
by jebmke
Tue Dec 30, 2014 1:21 pm
 
Forum: Investing - Theory, News & General
Topic: Another silly anti-index article
Replies: 42
Views: 4089

Re: Tax Loss Harvesting- But Not Buying Back Immediately?

There are good substitutes that are worth holding forever if the value goes up (or at least until they go negative again). I don't see any reason to wait.
by jebmke
Tue Dec 30, 2014 1:15 pm
 
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting- But Not Buying Back Immediately?
Replies: 31
Views: 2216

Re: Roth conversions in excess of normal retirement tax brac

You didn't say where you are now but if in 15% bracket and have significant amounts of QDIV/LTCG you might find that you run into a 30% marginal tax bracket as you increase income into the 25% bracket. Again the tax software can help you see this. That pesky 30% "bracket" is tricky. Not s...
by jebmke
Tue Dec 30, 2014 12:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth conversions in excess of normal retirement tax bracket
Replies: 4
Views: 565

Re: Protecting your Windows system from malware

Windows Defender comes with Windows 8. It works beautifully. Windows Defender is below-average in all respects. There is no way I would rely on it as my sole protection against malware. Keep in mind that your machine can get infected and you'll never know it. Windows Defender and Malwarebytes faile...
by jebmke
Tue Dec 30, 2014 11:14 am
 
Forum: Personal Consumer Issues
Topic: Protecting your Windows system from malware
Replies: 44
Views: 5176

Re: Do you read online reviews?

I look at negative reviews but don't pay much attention unless there is something specific described in the review. One person's "bug" is another person's "feature."
by jebmke
Tue Dec 30, 2014 9:02 am
 
Forum: Personal Consumer Issues
Topic: Do you read online reviews?
Replies: 26
Views: 1659

Re: New Amex Chip & Signature Card: Chip & PIN?

tfb wrote:Chances are those unattended, or even attended, railroad ticket machines that require a chip & PIN don't accept AmEx cards to begin with, PIN or no PIN. Get a MasterCard or Visa card.

Then a lot has changed since I lived there from 2003-2006. I used my corporate AMEX with C&P everywhere.
by jebmke
Sat Dec 27, 2014 8:03 am
 
Forum: Personal Finance (Not Investing)
Topic: New Amex Chip & Signature Card: Chip & PIN?
Replies: 7
Views: 807

Re: How to use a HSA (health savings account)?

You do need to keep receipts and records until the expense flows through the tax return (which could be years later) and the return has cleared the audit window. They will ask for the documentation in an audit (I know this from experience).
by jebmke
Fri Dec 26, 2014 8:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to use a HSA (health savings account)?
Replies: 3
Views: 724

Re: Excel question

lululu wrote:The question is, what does Round do with 1/2. Is it 0 or 1? I'm too lazy to experiment.

OK, I experimented. It rounds up, at least in my version of Excel.

There are two additional functions "roundup" and "rounddown". The first one does nothing for weeds though.
by jebmke
Fri Dec 26, 2014 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Excel question
Replies: 18
Views: 2010

Re: Excel question

=round(a1,2)-round(a2,2)
by jebmke
Fri Dec 26, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Excel question
Replies: 18
Views: 2010

Re: Do you have or recommend a Financial Only PC?

Three zero cost solutions. (1) Bootable USB flash drive with a non-persistent Linux installation. (2) Dual boot your existing PC with another OS (Linux is free), (3) Install VirtualBox or another free VM software and run Linux in a VM. (1) and (2): Booting Linux on a Windows PC containing a Windows...
by jebmke
Mon Dec 22, 2014 9:23 pm
 
Forum: Personal Consumer Issues
Topic: Do you have or recommend a Financial Only PC?
Replies: 84
Views: 7326

Re: Snow blower maintenance and repair

Once you get it fixed, at the end of the season, run the engine until it runs out of gas. Don't save gas in the can for another season.
by jebmke
Mon Dec 22, 2014 11:38 am
 
Forum: Personal Consumer Issues
Topic: Snow blower maintenance and repair
Replies: 26
Views: 2378

Re: Do you have or recommend a Financial Only PC?

Three zero cost solutions. (1) Bootable USB flash drive with a non-persistent Linux installation. (2) Dual boot your existing PC with another OS (Linux is free), (3) Install VirtualBox or another free VM software and run Linux in a VM. I actually go the Linux Virtual Machine route with Virtual Box....
by jebmke
Mon Dec 22, 2014 10:58 am
 
Forum: Personal Consumer Issues
Topic: Do you have or recommend a Financial Only PC?
Replies: 84
Views: 7326
Next

Return to advanced search