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

Should also consider the free AARP Foundation Tax-Aide program (right Jim?) for getting their returns prepared. They have more experienced and higher qualified people than many VITA sites.
by tomd37
Thu Apr 17, 2014 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Curious on tax return for mom and dad..
Replies: 21
Views: 1603

Re: Irrigation system question

Not wanting to take the chance of having the backflow preventer freeze, I have them remove it at the union joints on each side and I place the piece in a heavy duty plastic bag and place it in the walk-in crawl space. My system is due for reactivation next Thursday and I will bring it out of the cra...
by tomd37
Sat Apr 12, 2014 5:45 pm
 
Forum: Personal Consumer Issues
Topic: Irrigation system question
Replies: 28
Views: 1156

Re: somoene filed a return with my spouses SSN?

If your identity was stolen and a false federal tax return submitted using that SSN, you will be extremely fortunate if the situation is resolved in six months. Most likely to be twelve to sixteen months in resolution. Plan your taxes so you don't have a refund coming as has been suggested by severa...
by tomd37
Sun Apr 06, 2014 4:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: somoene filed a return with my spouses SSN?
Replies: 22
Views: 1757

Re: Windows XP

I have to agree with Victoria. In the past month we have purchased a new laptop for my wife and a new desktop for myself, both with Windows 7 Professional. We are both in our late 70's, don't speak computereeze, and find Windows 7 more comparable to Windows XP. Have not had any issues with the conve...
by tomd37
Sun Apr 06, 2014 4:18 pm
 
Forum: Personal Consumer Issues
Topic: Windows XP
Replies: 23
Views: 1478

Re: Happy fifth birthday!

How does one figure annualized returns for these five years when you are in the distribution phase (i.e., RMDs)? I know my balances in March of 2009 and 2014, but I have taken out RMDs during those five years and also invested some of the excess back in a taxable account via the TSM fund. "a&qu...
by tomd37
Sun Mar 09, 2014 3:03 pm
 
Forum: Investing - Theory, News & General
Topic: Happy fifth birthday! [since the 2008-2009 market crash]
Replies: 54
Views: 3343

Re: Total Market Bond Fund vs Intermediate Term Fund

McNewton - What is the symbol for the I-T bond fund to which you refer? There are several such funds.
by tomd37
Sun Mar 09, 2014 11:06 am
 
Forum: Investing - Theory, News & General
Topic: Total Market Bond Fund vs Intermediate Term Fund
Replies: 27
Views: 2247

Re: H&R block taxes

Don't recognize Form 1099D. Can you elaborate and also advise with other Forms and Schedules were involved with your income and expenses.
by tomd37
Sat Mar 08, 2014 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: H&R block taxes
Replies: 8
Views: 584

Re: The dealership wants my 2 year old car back?

Somebody wants my wife's car. In our case it is several of the mechanics at the local Lexus dealership. She has a 2001 Lexus ES300 with only 62,000 miles on it. It has been maintained at that dealership since its purchase there and is in excellent shape. Every time she takes it in one of more of the...
by tomd37
Fri Mar 07, 2014 10:03 am
 
Forum: Personal Consumer Issues
Topic: The dealership wants my 2 year old car back?
Replies: 46
Views: 4271

Re: Tax Bracket -vs TaxTable what am I missing?

Reminds me of I sign posted in the Chief Engineer's office on board a Navy ship some 47 years ago"

"At first I could not spell In Jun Eer and now I are one!" :wink:
by tomd37
Thu Mar 06, 2014 10:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Bracket -vs TaxTable what am I missing?
Replies: 14
Views: 869

Re: How Much of Tax Refund Do You Save/Spend..??

Our 2013 $26 refund isn't going to go very far towards anything. Maybe I should have applied it to my expected amount owed for 2014 of $50. :moneybag
by tomd37
Mon Mar 03, 2014 6:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Much of Tax Refund Do You Save/Spend..??
Replies: 68
Views: 2419

Re: Girl Scout Cookies - why not tax-deductible?

hq38sq43 hit the nail "in your coffin" square on its head according to IRS rules.
by tomd37
Sat Mar 01, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Girl Scout Cookies - why not tax-deductible?
Replies: 25
Views: 1805

Re: any objective studies on how long CFL bulbs last?

While we are on this discussion, how and where are CFL's disposed of? :idea:
by tomd37
Thu Feb 27, 2014 9:38 pm
 
Forum: Personal Consumer Issues
Topic: any objective studies on how long CFL bulbs last?
Replies: 26
Views: 936

Re: any objective studies on how long CFL bulbs last?

I am in the process of changing out my CFLs to LEDs and as a matter of fact just changed three outside bulbs within the hour. These are bulbs associated with outside security lighting and used quite a bit each night. Had previously thought CFL was the way to go, but my mindset has been changed to go...
by tomd37
Thu Feb 27, 2014 7:49 pm
 
Forum: Personal Consumer Issues
Topic: any objective studies on how long CFL bulbs last?
Replies: 26
Views: 936

Re: Vacuum cleaner advice

I love our Miele "Jazz" upright and am about to buy the Miele "Titan" canister. We have personal preferences for both an upright and canister type vacuum. Excellent quality and great performance. Bought through local dealer and vacuum service company and they matched the online p...
by tomd37
Tue Feb 25, 2014 10:30 pm
 
Forum: Personal Consumer Issues
Topic: Vacuum cleaner advice
Replies: 34
Views: 1895

Re: Bond Question for Dr. Bernstein

Thanks for the confirmation Lady Geek. I was asking that question of myself.
by tomd37
Sun Feb 23, 2014 3:51 pm
 
Forum: Investing - Theory, News & General
Topic: Bond Question for Dr. Bernstein
Replies: 55
Views: 5151

Re: Disabled Taxpayer

Huey,
Thanks for your help with this. That is exactly what I was looking for. :oops:
by tomd37
Wed Feb 19, 2014 11:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disabled Taxpayer
Replies: 2
Views: 231

Disabled Taxpayer

Taxpayer (TP) age 56 is receiving disability payments through the SSA. TP takes a distribution from 403b account and receives a 1099-R with code 1 in box 7. This indicates to me the TP took an early distribution from the 403b and the distribution is subject to a 10% early distribution penalty in add...
by tomd37
Wed Feb 19, 2014 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disabled Taxpayer
Replies: 2
Views: 231

Re: What are reliable refrigerator brands these days?

I know nothing about their refrigerator/freezer products, but a look a Miele (a German company) might be worthwhile. My experience with their vacuum cleaners, both upright and cannister, has been outstanding. Google Miele.
by tomd37
Mon Feb 17, 2014 10:24 pm
 
Forum: Personal Consumer Issues
Topic: What are reliable refrigerator brands these days?
Replies: 51
Views: 3653

Re: Taxable Investment Acct - Cost Basis

I am using Vanguard's average cost basis (ACB) method and, as I understand that method, each subsequent purchase, or each divided payment, affects the cost basis. Using ACB how can I specify which ones I am selling at any given date. This is a bit complicated for this aging mind to comprehend. Can y...
by tomd37
Thu Feb 13, 2014 9:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taxable Investment Acct - Cost Basis
Replies: 4
Views: 256

Taxable Investment Acct - Cost Basis

We have a joint taxable investment account with Vanguard investing in the total stock market index fund (VTSAX) with all dividends being reinvested. The only three purchases were made last year in each of the last three quarters of 2013. When/if we decide to sell any portion of this investment how d...
by tomd37
Thu Feb 13, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taxable Investment Acct - Cost Basis
Replies: 4
Views: 256

Re: Tax Return-Pay off loan or invest?

Simple answer - the one that guarantees the best result :oops:
by tomd37
Thu Feb 13, 2014 6:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Return-Pay off loan or invest?
Replies: 9
Views: 447

Re: USAA Auto Insurance?

Have been with USAA for 53 years for all my insurances; auto, home, umbrella, personal effects floater, term life, etc. Did an apple-to-apple comparison with AMICA last year for the exact coverages and rebates. USAA was still a bit cheaper. You get a lot of discounts with USAA when you have multiple...
by tomd37
Tue Feb 11, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: USAA Auto Insurance?
Replies: 53
Views: 2986

Re: I received my federal tax refund this morning

Federal return e-filed and accepted on January 28th and $26 refund deposited in bank account on February 7th. Filed my own return using AARP Tax-Aide program. No state return here in TN. Next year will owe about $50 according to my calculation.
by tomd37
Mon Feb 10, 2014 9:29 am
 
Forum: Personal Finance (Not Investing)
Topic: I received my federal tax refund this morning
Replies: 13
Views: 2411

Re: How long does it take to do your taxes?

We are a retiree couple with one military pension, two SS benefit statements, three IRA distribution documents, two interest statements, and one dividend statement. We do not itemize deductions normally, but I did attempt to do so because of certain larger medical expenses and combining of two years...
by tomd37
Sun Feb 09, 2014 10:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: How long does it take to do your taxes?
Replies: 53
Views: 2762

Re: I'm feeling old today

Fortunately at age 77 I can still remember a lot! :wink:
by tomd37
Fri Feb 07, 2014 6:53 pm
 
Forum: Personal Consumer Issues
Topic: I'm feeling old today
Replies: 97
Views: 6634

Re: Missed 1099-INT on 2012 Taxes...need help!

Why not ask the IRS for a printout of their records (i.e., W-2, 1099-R, 1099-INT, etc.) and see how it compares with your documents. As you say the 1099-INT appears to be the culprit so that's all you will have to look at.
by tomd37
Mon Feb 03, 2014 5:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Missed 1099-INT on 2012 Taxes...need help!
Replies: 6
Views: 581

Re: AARP Tax-Aide Return Acceptance

Thanks for that detailed explanation.
by tomd37
Fri Jan 31, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: AARP Tax-Aide Return Acceptance
Replies: 10
Views: 493

Re: Good sources on doing taxes?

The Volunteer Resource Guide (Pub 4012) is "the bible" for those of us in the AARP Tax-Aide program and covers all of the within scope items in the program including the complicated issues presented by our senior clients.
by tomd37
Thu Jan 30, 2014 9:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good sources on doing taxes?
Replies: 51
Views: 2164

AARP Tax-Aide Return Acceptance

Have any of you Tax-Aide ERO volunteers received IRS acceptances on returns submitted? I received acceptance of my personal return two days ago. I thought the IRS would not process returns until January 31st, but the acceptance is there. I had all my required documents by Monday so I submitted my re...
by tomd37
Thu Jan 30, 2014 8:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: AARP Tax-Aide Return Acceptance
Replies: 10
Views: 493

Re: Good sources on doing taxes?

Chessmaster, Based on your comments to all responses provided you, I suggest you go to your local library and pick up IRS Form 1040 along with its instructions booklet and do your own return on paper. Any other forms you might need in following the 1040 instructions are available at http://www.irs.g...
by tomd37
Thu Jan 30, 2014 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good sources on doing taxes?
Replies: 51
Views: 2164

Re: Retired folks yearly, quarterly or monthly withdrawal?

I take an annual RMD whenever I desire and that is usually around the 1st of December each year. I usually don't wait much past that date so as to ensure that the request is received and processed prior to year end. The 50% penalty for failure to take the RMD is quite stiff, although the IRS is very...
by tomd37
Thu Jan 30, 2014 6:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retired folks yearly, quarterly or monthly withdrawal?
Replies: 11
Views: 1328

Re: Keeping internet provider without price hikes

steelerfan - Exact experience I go through. I will see what happens in February
by tomd37
Mon Jan 27, 2014 4:25 pm
 
Forum: Personal Consumer Issues
Topic: Keeping internet provider without price hikes
Replies: 53
Views: 3902

Re: Keeping internet provider without price hikes

I am interested in seeing the responses. I am in the same situation with Comcast next month. I just dislike calling a pleading with their "retention" manager.
by tomd37
Mon Jan 27, 2014 3:56 pm
 
Forum: Personal Consumer Issues
Topic: Keeping internet provider without price hikes
Replies: 53
Views: 3902

Re: Declaring cash income

Oh so true! 5 more days to go for TCE here.
by tomd37
Mon Jan 27, 2014 1:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Declaring cash income
Replies: 31
Views: 1675

Re: Declaring cash income

Another issue here in addition to Schedules C and SE. Can the child be claimed as a dependent on his parent's tax return. If so, he has to ensure he does not claim a personal exemption for himself when filing his own tax return. All income has to be reported, regardless whether or not there is a sou...
by tomd37
Sun Jan 26, 2014 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Declaring cash income
Replies: 31
Views: 1675

Re: Education tax credit for Spring 2013 class but paid in 2

jcw, As jebmke says, the educational credit can only be claimed in the tax year the qualified expense was actually paid. Therefore, tax year 2012 in your case. But you might want to take another look at your 2012 tax return and see if you would benefit by filing an amended tax return for that year. ...
by tomd37
Sun Jan 26, 2014 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Education tax credit for Spring 2013 class but paid in 2012
Replies: 18
Views: 840

Re: Good sources on doing taxes?

You will need the form 1098-E from the institution that holds your loan. The amount of interest paid is entered on Form 1040, line 33 subject to a limitation of $2500 for tax year 2013.
by tomd37
Sun Jan 26, 2014 6:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good sources on doing taxes?
Replies: 51
Views: 2164

Re: Vanguard REIT Index Fund 1099-DIV

Livesoft,
Totally forgot that I also have the same REIT Index fund in a Roth IRA which resulted from a partial conversion of the tax-advantaged account about nine years ago. I don't think that affects your answer as any distributions would not be taxable. Comment please if you will.
by tomd37
Sat Jan 25, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard REIT Index Fund 1099-DIV
Replies: 3
Views: 408

Re: Good sources on doing taxes?

If doing your tax return for the first time, I would order Publication 17 from the IRS website at http://www.irs.gov and the Form 1040 Instructions booklet from the same site (it is usually available at local libraries also). You cannot go wrong using those two documents along with Form 1040. If you...
by tomd37
Sat Jan 25, 2014 8:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good sources on doing taxes?
Replies: 51
Views: 2164

Vanguard REIT Index Fund 1099-DIV

The flyer accompanying the 1099-DIV for the VG Total Stock Market Index fund (in a taxable account) indicates the 1099-DIV for the REIT Index Fund will be mailed sometime in February. Am I correct in assuming that since my REIT index fund is held within a traditional IRA account I will not be receiv...
by tomd37
Sat Jan 25, 2014 6:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard REIT Index Fund 1099-DIV
Replies: 3
Views: 408

Re: New Home Owner - Tax Questions

jimb,
Not familiar with and cannot quote tax code, but pages 26 and 32-35 of the 2013 Publication 17 have more information.
by tomd37
Thu Jan 23, 2014 12:12 am
 
Forum: Personal Finance (Not Investing)
Topic: New Home Owner - Tax Questions
Replies: 48
Views: 2376

Re: New Home Owner - Tax Questions

Yep! I have this same situation every year where the non-related person qualifies as a dependent, but the taxpayer qualifies for only single filing status.
by tomd37
Wed Jan 22, 2014 8:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: New Home Owner - Tax Questions
Replies: 48
Views: 2376

Re: Navy Fed CU follows the lead of PenFed CU [CD rates]

As a member of NFCU for 53+ years I am not too impressed by their lower interest rates on CDs :annoyed so I make other investments with my extra monies accepting the additional risks.
by tomd37
Tue Jan 21, 2014 6:35 pm
 
Forum: Investing - Theory, News & General
Topic: Navy Fed CU follows the lead of PenFed CU [CD rates]
Replies: 9
Views: 1399

Re: When to take RMD

dbr - As with all RMDs, the established and desired asset allocation ratio would be maintained.
by tomd37
Wed Jan 15, 2014 11:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: When to take RMD
Replies: 20
Views: 1112

Re: File Married Separate or Joint

I know it is a recent marriage, but are there any children involved on the tax return? There are a number of tax credits lost or reduced when using MFS filing status. As already mentioned you are better off using MFJ status in almost all cases.
by tomd37
Wed Jan 15, 2014 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: File Married Separate or Joint
Replies: 5
Views: 415

When to take RMD

We are a retired couple in mid to late 70s who normally take our RMD near the end of each year (i.e., late November). We only use about forty percent of the RMD to supplement our pensions in order to meet budegtary needs each year and the rest gets invested in taxable account. We have more than suff...
by tomd37
Wed Jan 15, 2014 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: When to take RMD
Replies: 20
Views: 1112

Re: Help with Form 1096

You might want to edit your initial post to correct the subject line to Form 1099 if it can be edited.
by tomd37
Wed Jan 15, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with Form 1099
Replies: 3
Views: 214

Re: Good tax man?

Working2,
Are you talking about federal energy credits for a new construction home or for an existing home? As I remember the federal tax credit is limited to $500 cumulative total for the period starting in 2006 and it is not applicable to new construction homes.
by tomd37
Thu Jan 09, 2014 10:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good tax man?
Replies: 42
Views: 2192

Re: Good tax man?

Working2, I'd be curious to know what type of federal tax energy credits you might be looking for. There aren't too many available at the federal tax level in the past couple of years. More state tax or local energy company credits might be available, but not knowing what you did or are thinking abo...
by tomd37
Wed Jan 08, 2014 9:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good tax man?
Replies: 42
Views: 2192

Re: Credit Reporting

BFG - Being married, what I do is call every other month and order a credit report for one of us. I order mine every other month the first six months of the year from a different agency and then order my wife's every other month for the last six months of the year from a different agency. That way w...
by tomd37
Sat Jan 04, 2014 4:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Reporting
Replies: 19
Views: 917
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