Search found 8053 matches

by Epsilon Delta
Wed Mar 13, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Basis - Need to track?
Replies: 40
Views: 5634

Re: Roth IRA Basis - Need to track?

After age 59.5 can the Form 5498 documents be disposed? I'd keep 1 that is at least 5 years old unless your assets are at a place that shows transactions for at least 5 years. Please explain second point in more detail. There are two requirements for a qualified distribution (which is tax and penalty free). You are 59.5 years old (or disabled, or dead) Your Roth is more than 5 years old. [more or less]. If you are audited, the first can be proved with your birth certificate. Retiredjg is suggesting keeping documentation about the second. I think that's probably a good idea. Although 5 years ago is fairly recent history and I would expect you could find some evidence from custodians etc if push came to shove even if you don't keep it yourse...
by Epsilon Delta
Wed Mar 13, 2019 1:43 pm
Forum: Personal Consumer Issues
Topic: Backyard sport court, turf, etc
Replies: 12
Views: 1399

Re: Backyard sport court, turf, etc

Are you committed to an artificial surface?

If you fix the drainage and even the surface rain wet grass should be perfectly serviceable, nicer to play on and easier to disguise as a "lawn" if the neighbors complain or you sell the house. The main reason to use artificial surfaces is for very heavy use, since you can only use grass so many hours a week, since it needs time to grow.
by Epsilon Delta
Tue Mar 12, 2019 11:07 pm
Forum: Personal Investments
Topic: Merging Roth IRAs and dealing with a tiny t-IRA
Replies: 20
Views: 1426

Re: Merging Roth IRAs and dealing with a tiny t-IRA

Thanks for your interest! Yes, I am over 59 1/2. Yes, my first Roth contribution occurred so long ago, my broker no longer has an online record of it. Online statements go back ten years, so clearly my first Roth contribution meets the five year test. However, not all my Roth IRAs are made of contributions. r-IRA (1) is contributions. Most recent 2017, first one more than ten years ago. r-IRA (2) is a Roth conversion that happened more than ten years ago r-IRA (3), r-IRA (4) were created in 2017 by converting a t-IRA to two r-IRAs. r-IRA (5) is created in 2018 by rolling my aftertax 401K contributions and earnings into an r-IRA. It is clear to me that I can combine r-IRA (3) and (4) because they share the five year clock that started in 20...
by Epsilon Delta
Tue Mar 12, 2019 10:09 pm
Forum: Personal Investments
Topic: Roth IRA 2018 Contribution
Replies: 12
Views: 932

Re: Roth IRA 2018 Contribution

You both should be using nominal growth instead of real. Deflate back to current dollars afterward. The basis for capital gains is not indexed.
by Epsilon Delta
Tue Mar 12, 2019 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Basis - Need to track?
Replies: 40
Views: 5634

Re: Roth IRA Basis - Need to track?

megabad wrote: Tue Mar 12, 2019 7:52 pm It is my opinion that what I call 1st generation tax documents hold the most weight in the IRS (original paper W2s, 1099s, 5498s).
There is at least a little bit of irony in that these are forms the IRS already has, so they shouldn't tell the IRS anything they don't already know.
by Epsilon Delta
Tue Mar 12, 2019 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: How many companies have you worked for?
Replies: 125
Views: 10753

Re: How many companies have you worked for?

Does it count if you stay at the same desk and they keep changing the name on the door?

If not 8, if it does about 17, depending on how you count names that only existed while I was on vacation :shock:, and temporary names during mergers.
by Epsilon Delta
Tue Mar 12, 2019 7:32 pm
Forum: Personal Consumer Issues
Topic: How to get Vanguard to stop recognizing my laptop?
Replies: 13
Views: 1901

Re: How to get Vanguard to stop recognizing my laptop?

quantAndHold wrote: Tue Mar 12, 2019 5:20 pm There are several ways to store data on the client side that are more efficient, and arguably more secure than cookies. I assume Vanguard is using one of those.
What's the argument for more secure?

It seems to me that cookies are well understood and have reasonable management tools in all browsers. All the other types of persistent objects were conceived as ways to avoid those management tools. Ethical companies should use cookies -- to do otherwise is to normalize being a jerk. Much the same as ethical companies should not send emails that say click on this link.
by Epsilon Delta
Tue Mar 12, 2019 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Why do MM funds at brokerages get more interest than MM accounts at banks?
Replies: 12
Views: 1993

Re: Why do MM funds at brokerages get more interest than MM accounts at banks?

While they differ from each other they share a lot more than a name. I'd hazard that many of us are happy to consider bank Money Market accounts and Money Market Funds to be similar enough to both be considered "cash", and very different from things we consider "stocks".
by Epsilon Delta
Tue Mar 12, 2019 4:40 pm
Forum: Personal Investments
Topic: Buying ETF shares one at a time with rewards - bad idea?
Replies: 7
Views: 2688

Re: Buying ETF shares one at a time with rewards - bad idea?

Single share purchases will be a nuisance but are not unmanageable. These should be "covered shares" so the broker should do a much of the work. However I'd suggest you also keep your own records just in case. Record keeping will also give you some idea of whether you are willing to put up with the nuisance.

I'd also suggest that you consider selling one or two of those shares, if you have never sold any. You can learn a lot filling out a Sched D & associated forms with small amounts that don't matter that much.
by Epsilon Delta
Tue Mar 12, 2019 4:19 pm
Forum: Investing - Theory, News & General
Topic: What theory has changed, since you last took Economics/Finance courses in college?
Replies: 69
Views: 7418

Re: What theory has changed, since you last took Economics/Finance courses in college?

4nwestsaylng wrote: Tue Mar 12, 2019 4:01 pm I would say that Economics Departments have become much more political/ideology driven,
You have got to be joking.

Adam Smith and Karl Marx were doing economics long before you were born.

If you don't think your economics department was political way back when it is either because you think politics is something bad only other people do, or because the department was not dealing with anything important.
by Epsilon Delta
Tue Mar 12, 2019 4:10 pm
Forum: Personal Investments
Topic: Roth IRA 2018 Contribution
Replies: 12
Views: 932

Re: Roth IRA 2018 Contribution

You can make a 2018 non-deductible contribution to a traditional IRA file and report that on a stand alone 2018 Form 8606, without amending. Then you can do the conversion which will be reported for 2019 (using the carry forward from line 14 of the 2018 form 8606).
by Epsilon Delta
Tue Mar 12, 2019 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Filing 8606 - Complex case
Replies: 16
Views: 1455

Re: Filing 8606 - Complex case

FiveK wrote: Tue Mar 12, 2019 3:18 pm
Epsilon Delta wrote: Tue Mar 12, 2019 2:30 pm
FiveK wrote: Tue Mar 12, 2019 1:45 pm Or make a $6000 contribution to the tIRA for 2019, and leave it and the $5500 2018 contribution in the tIRA until there has been $600 of growth. Then convert everything to Roth.
This is no better than converting immediately and deliberately ignoring the carry over of the excess basis.
Huh?

What's wrong with tax free growth in the tIRA and tax free conversion from the tIRA to Roth?
Nothing, but if you convert earlier without waiting for growth you get the same $600 of growth tax free in the Roth instead, and some leftover basis.
by Epsilon Delta
Tue Mar 12, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Basis - Need to track?
Replies: 40
Views: 5634

Re: Roth IRA Basis - Need to track?

lostdog wrote: Tue Mar 12, 2019 2:43 pm I had to go through my statements and some 5498 forms to find out my basis for contributions.

If I take out the distributions, I don't have all of the 5498 forms but have statements. If I get audited, I guess I'll have to pay the penalties because I don't have all of the 5498 forms.
I'm not so sure about that. If audited you have to provide evidence. The statutes are silent over the exact type of evidence. There is probably regulations and precedence about what is required. If audited you could at least provide the statements and see what happens.
by Epsilon Delta
Tue Mar 12, 2019 3:05 pm
Forum: Personal Investments
Topic: Roth or tIRA for 25 y/o Daughter?
Replies: 16
Views: 1813

Re: Roth or tIRA for 25 y/o Daughter?

Also when and who is she marrying?

If she is marrying this year she will be filing married rather than single this year.

You also need to consider the couples joint future. If she is marrying an MD or investment banker then Roth contributions and conversions would be in order if this will be her last year to file single. If she is marrying another teacher then perhaps traditional is better.
by Epsilon Delta
Tue Mar 12, 2019 2:57 pm
Forum: Personal Consumer Issues
Topic: Need online doc access - small amount
Replies: 13
Views: 762

Re: Need online doc access - small amount

By passing work computer rules is not a good idea. And you probably don't want to do something that is not against the rules only because they haven't thought of banning it yet. Setting up a wifi hot spot in a secure zone or tethering a work computer are that type of thing.

If the update is work related get corporate IT to white list it. If it is not work related either do it on a completely separate personal device (e.g. a smart phone) or don't do it. Email the info to your personal account and update it later from home.
by Epsilon Delta
Tue Mar 12, 2019 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Filing 8606 - Complex case
Replies: 16
Views: 1455

Re: Filing 8606 - Complex case

FiveK wrote: Tue Mar 12, 2019 1:45 pm Or make a $6000 contribution to the tIRA for 2019, and leave it and the $5500 2018 contribution in the tIRA until there has been $600 of growth. Then convert everything to Roth.
This is no better than converting immediately and deliberately ignoring the carry over of the excess basis.

There has been some disagreement as to what happens to the excess basis in various circumstances. Almost everybody agrees that if you leave a few bucks in traditional at all times it should carry forward. However I bet that if you do not pay strict attention and let somebody or something else (e.g. TurboTax) prepare your returns then sooner or later you will come across a situation where they drop the excess.
by Epsilon Delta
Tue Mar 12, 2019 2:18 pm
Forum: Personal Consumer Issues
Topic: Apple TV - Remote Unpairing
Replies: 17
Views: 717

Re: Apple TV - Remote Unpairing

The Apple TV, like all Apple products, is working perfectly and is completely intuitive. Adjust your expectations. :twisted:
by Epsilon Delta
Tue Mar 12, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Two-Factor ID for my Bank
Replies: 24
Views: 2021

Re: Two-Factor ID for my Bank

You could also set up a second email account and not have thunderbird remember the email password. That way you can get your grandma's pie recipes without the inconvenience of having to type a password every time and still protect the 2FA.

Personally I think it is presumptuous for banks to assume that any email address I give them is secure, it's particularly galling when I give it to them for one reason, such as to confirm an appointment and they escalate to send very sensitive info. But they also do the same with phone numbers. I once had a call back at my parents house and it took a long time to convince a bank that I had not given blanket authorization for anybody at that phone number to make transactions.
by Epsilon Delta
Tue Mar 12, 2019 1:46 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1481

Re: Using Roth IRA funds for first-time home purchase

krylon80 wrote: Tue Mar 12, 2019 1:13 pm OK, so if this is how it would be calculated, then a First-In, First-Out policy is not employed.
That's probably a good take away.

But note that FIFO does come back as a secondary sort, particularly within the "conversion" category it can matter a lot.

Unfortunately the rules are complex and in general can't be simplified. However many situations do not need the full rules. But the only way to know if you've over simplified for your situation is to compare your result to the the full rules. That's what I'm trying to do here, I hope it's not too discouraging. :beer
by Epsilon Delta
Tue Mar 12, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax Return Question (Moved to NJ work in NYC)
Replies: 8
Views: 856

Re: State Tax Return Question (Moved to NJ work in NYC)

There is an assumption that you moved at the same time you took the new job. This is probably true, but it is possible to commute from MA to NYC. If the move was a couple of months before or after the job change things get a little messier. (e.g. some of income earned in NY could also be MA income.)
by Epsilon Delta
Tue Mar 12, 2019 12:55 pm
Forum: Personal Consumer Issues
Topic: Vizio TV Remote Issue
Replies: 10
Views: 893

Re: Vizio TV Remote Issue

IR remotes do not always have to be pointed at the TV. Mine works more reliably when pointed at the ceiling, letting the reflection reach the sensors.

Different remotes may have different beam patterns. A remote with a narrow beam (so the direct beam only hits one TV) and a weak beam (so reflections are too weak activate the TV) could help. For most uses that would be a rotten remote, but if it meets your needs it's better for you.

I can't tell you how to find such a remote, but if you have several you could test them to see if some suit your purposes better than others. If that's the case hide the ones that cause more problems.
by Epsilon Delta
Tue Mar 12, 2019 12:27 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1481

Re: Using Roth IRA funds for first-time home purchase

Regarding the federal FIFO guidelines Alternatively, if i made an initial contribution of $2,500 on Jan 1st, which earned $500 by June 1st, followed by a subsequent contribution of $2,500 on June 2nd, then my withdrawal of $5,000 would be considered a withdrawal of $4,500 from contributions and $500 from earnings, which would leave me with $4,500 in contributions and $0 in earnings, correct? Not correct. The $5000 would be a return of the two $2,500 contributions. It would be tax and penalty free and leave you with no contributions in the Roth. The ordering rules are: Contributions first. Conversions next. Finally earnings. This is not a complete statement of the rules, but it is accurate as far as it goes and you can add the details as ne...
by Epsilon Delta
Tue Mar 12, 2019 12:15 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1481

Re: Using Roth IRA funds for first-time home purchase

krylon80 wrote: Tue Mar 12, 2019 10:39 am according to the Roth IRA withdrawal rules (https://www.rothira.com/roth-ira-withdrawal-rules), the full amount of contributions can be withdrawn at any time tax and penalty free as long as the account has been open for 5 years,
That article does not say that. Contributions are available tax and penalty free at any time, which is what it says.

Details matter here. If you are going to read something and conclude it says something it doesn't you are going to have problems.

I'd suggest you go to part III of form 8606 and the instructions, particularly for line 20. Reading them and filling out dummy tax returns with a #2 pencil is the best way to figure this out.
by Epsilon Delta
Tue Mar 12, 2019 11:41 am
Forum: Investing - Theory, News & General
Topic: Is buying only assets with "tickers" a good Boglehead "rule"?
Replies: 23
Views: 1988

Re: Is buying only assets with "tickers" a good Boglehead "rule"?

I do not give a darn about "tickers" because I have a screen and a keyboard. I do not use a tiny little printer or news crawlers.

Now that we have overcome the technical limitations tickers are only useful as abbreviations for people who are checking things rather more often than is healthy.
by Epsilon Delta
Tue Mar 12, 2019 11:28 am
Forum: Investing - Theory, News & General
Topic: Brexit / VXUS
Replies: 24
Views: 2667

Re: Brexit / VXUS

What is priced in is some probability of May's deal being passed, some probability of a hard exit with no agreement, some probability of agreeing to an extension, ... .

As we get news the probabilities change and so does what is priced in. On March 29 a lot of probabilities will go to zero.
by Epsilon Delta
Tue Mar 12, 2019 11:11 am
Forum: Personal Consumer Issues
Topic: Experience with turbo >100,000 mi
Replies: 29
Views: 3356

Re: Experience with turbo >100,000 mi

I'm surprised that the computer doesn't monitor the turbo and give you a warning if you try to turn off too quickly. "Do you want to destroy the engine? Abort Continue". Maybe they think that would ruin the true sports car experience.
by Epsilon Delta
Tue Mar 12, 2019 1:47 am
Forum: Non-US Investing
Topic: Leveraged ETF from Europe?
Replies: 19
Views: 3060

Re: Leveraged ETF from Europe?

TedSwippet wrote: Tue Mar 05, 2019 1:41 pm
Sinsji wrote: Tue Mar 05, 2019 12:22 pmAm I supposed to be happy with the EU regulations?
I don't think anyone is. They make little or no sense in the context of index ETFs.
They make as much sense for index ETFs as they do for any other funds. There is nothing that says that an index has to be sane. If you exempt index fund it almost guarantees that many of them won't be.
by Epsilon Delta
Mon Mar 11, 2019 5:14 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth: Vanguard ETFs Or Mutual Funds
Replies: 20
Views: 1894

Re: Allan Roth: Vanguard ETFs Or Mutual Funds

livesoft wrote: Mon Mar 11, 2019 4:51 pm
jeffyscott wrote: Mon Mar 11, 2019 4:43 pmYes, I would like to know who is subsidizing all the ETF holders, particularly at Vanguard's brokerage.
I hold a lot of shares of Vanguard ETFs, but I hold no ETF shares of any kind at Vanguard at all. So Vanguard is not getting hit with my brokerage costs and record keeping of my ETF shares.

Brokerages can make money by paying a lower interest rate on cash sweep accounts than the interest rate that the money actually earns. This is a well-known way that brokerages make money. I keep my cash sweep accounts total to a minimal amount, say less than $50.
Brokerages make money in lots of different ways. Just because you spot one doesn't mean there aren't more.
by Epsilon Delta
Mon Mar 11, 2019 4:58 pm
Forum: Personal Consumer Issues
Topic: Not allowed to reserve multiple United flights departing at different times from same destination on same day?
Replies: 40
Views: 5499

Re: Not allowed to reserve multiple United flights departing at different times from same destination on same day?

Airlines and others are very fond of blaming every stupid or annoying thing they do on the Patriot Act. If everything that has been blamed on the Patriot Act was actually in the Patriot Act the US Code would be several encyclopedias longer.
by Epsilon Delta
Mon Mar 11, 2019 4:27 pm
Forum: Personal Consumer Issues
Topic: Are Password Managers Really Necessary?
Replies: 200
Views: 21097

Re: Are Password Managers Really Necessary?

zaplunken wrote: Mon Mar 11, 2019 4:10 pm Copy and paste seems dangerous even though I set the time out to keep it in the clipboard for 10 seconds cuz it is there for those 10 seconds. This is why I thought click, drag and drop was safer but that may be putting it into the clipboard too and I don't know that.
I think you need to reevaluate your threat model.

Essentially you are worrying about how to safely use a password manager on a machine that may have malware installed. At some point you should put your effort into making sure that malware is not installed. I think that point is long before you start worrying about obfuscated versions of cut and paste. The obfuscation is worth doing if it's free, but it's not worth worrying about.
by Epsilon Delta
Mon Mar 11, 2019 2:59 pm
Forum: Personal Investments
Topic: Merging Roth IRAs and dealing with a tiny t-IRA
Replies: 20
Views: 1426

Re: Merging Roth IRAs and dealing with a tiny t-IRA

Also if your withdrawal from Roth from 2015 conversion is large enough part of it gets matched with the 2018 conversion. This can get very confusing the next time you take a withdrawal from Roth from 2018 conversion . When you say "if withdrawal from Roth from 2015 conversion is large enough, part of it gets matched with the 2018 conversion.", how can this be? If I have, for example, $1000 in Roth from 2015 conversion , surely my custodian will not allow me to withdraw $1100, the same as my bank doesn't allow me to take $1100 from a $1000 checking account? If you converted $1000 in 2015 hopefully there is some growth so the account is now worth say $1500. In that case the custodian will let you withdraw $1100. When you do your ta...
by Epsilon Delta
Mon Mar 11, 2019 2:30 pm
Forum: Personal Investments
Topic: Merging Roth IRAs and dealing with a tiny t-IRA
Replies: 20
Views: 1426

Re: Merging Roth IRAs and dealing with a tiny t-IRA

2. Each conversion has a different 5-year clock so that has to be tracked by conversion which could be harder perhaps in a single account. This is correct but I think it's easier if everything is in one account. While each conversion has a 5-year clock this does not trace to a particular account. Using the ordering rules for withdrawals, a withdrawal from any account can be associated with a contribution or conversion in any account -- perhaps a different account, possibly several transactions in several different account. To match things up using the ordering rules you need a chronological list of all contributions, conversions, recharacterizations and withdrawals. If I have only one account that list is (a sub set of) that account's stat...
by Epsilon Delta
Mon Mar 11, 2019 2:19 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth: Vanguard ETFs Or Mutual Funds
Replies: 20
Views: 1894

Re: Allan Roth: Vanguard ETFs Or Mutual Funds

https://www.etf.com/sections/index-investor-corner/vanguard-etfs-or-mutual-funds?nopaging=1 ETFs are cheaper to run because record tracking expenses for mutual funds are incurred by the asset manager while they are incurred by brokerages for the ETFs. Also VG does not have to field the phone calls regarding VG ETFs held at non VG brokerages. There are still record tracking expenses for ETFs, and there are still web sites and phone calls. These expenses have been removed from the ETF expense ratio, so where are they? The assumption appears to be that brokerage accounts are and always will be free. My assumption is that brokerages are a profitable business and brokerages will be better at hiding fees than I will be at finding and avoiding th...
by Epsilon Delta
Mon Mar 11, 2019 1:30 pm
Forum: Personal Investments
Topic: Merging Roth IRAs and dealing with a tiny t-IRA
Replies: 20
Views: 1426

Re: Merging Roth IRAs and dealing with a tiny t-IRA

2. Each conversion has a different 5-year clock so that has to be tracked by conversion which could be harder perhaps in a single account. This is correct but I think it's easier if everything is in one account. While each conversion has a 5-year clock this does not trace to a particular account. Using the ordering rules for withdrawals, a withdrawal from any account can be associated with a contribution or conversion in any account -- perhaps a different account, possibly several transactions in several different account. To match things up using the ordering rules you need a chronological list of all contributions, conversions, recharacterizations and withdrawals. If I have only one account that list is (a sub set of) that account's stat...
by Epsilon Delta
Mon Mar 11, 2019 1:08 pm
Forum: Personal Consumer Issues
Topic: Not allowed to reserve multiple United flights departing at different times from same destination on same day?
Replies: 40
Views: 5499

Re: Not allowed to reserve multiple United flights departing at different times from same destination on same day?

rich126 wrote: Mon Mar 11, 2019 8:41 am Sounds like a bug in their system they need to fix. And that sucks.
I think it's a feature, not a bug. The airlines want to make it inconvenient to use the lowest fares. Apparently nonsensical rules and poor implementation are their business model. It's supposed to suck.
by Epsilon Delta
Mon Mar 11, 2019 12:41 pm
Forum: Personal Investments
Topic: Will I be able to do a backdoor ROTH?
Replies: 15
Views: 1799

Re: Will I be able to do a backdoor ROTH?

Thanks. I do believe I have been confusing the two and need to reread the wiki. For either to occur I would need to roll the tIRAs into my current 401K. Is that correct? For a ROTH conversion, I would need to wait until 2020 when I have no earned income and before I take SS or my pension. Would having a small ROTH already cause any issues? There are no income limits on Roth conversions. Earned income in particular is irrelevant. Anybody with a tIRA who is willing to pay the taxes can do a conversion. However since the conversions is taxed as ordinary income people with a lot of taxable income (not just earned income) will find that the taxes are high and they are not willing to pay them. So typically people should convert in low income yea...
by Epsilon Delta
Mon Mar 11, 2019 12:21 pm
Forum: Personal Investments
Topic: Vanguard IRA contribution 7 day hold (intended as back door roth)
Replies: 9
Views: 1115

Re: Vanguard IRA contribution 7 day hold (intended as back door roth)

If the contribution was for 2018 it is reported on your 2018 tax return.

The conversion happened in 2019 so it is reported on your 2019 tax return.

It is not clear you understand this since you ask if the $2 or so of interest is reported in 2019. It is but so is the entire conversion.
by Epsilon Delta
Mon Mar 11, 2019 12:14 pm
Forum: Personal Investments
Topic: Vanguard IRA contribution 7 day hold (intended as back door roth)
Replies: 9
Views: 1115

Re: Vanguard IRA contribution 7 day hold (intended as back door roth)

retiringwhen wrote: Mon Mar 11, 2019 6:26 am Do a full transfer (full balance of the settlement account) and the interest will be credited and transferred at the same time. I did this last year. I ended up with $1.65 interest and a lonely 1 on the taxable distribution entry on my 8606 form :-)
$1.65 should round to $2.
by Epsilon Delta
Mon Mar 11, 2019 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax? Excess Roth contribution
Replies: 8
Views: 870

Re: Turbo Tax? Excess Roth contribution

The withdrawn earnings are taxed and have a 10% penalty in 2018, the year of the contribution. If you wait until you get the 1099-R from Vanguard in Feb 2020 you will have to amend the 2018 return. Nothing carries forward to 2019 except the 1099-R where the transaction should be coded as prior year (i.e. 2018) and ignored when filing for 2019.

The transaction conformation or next monthly statement from Vanguard should show the value of the earnings. The earnings are the amount withdrawn less the amount you requested to be withdrawn (i.e. $6,500) if they don't break it out explicitly.

The contribution and withdrawal should also be reported on an attached statement.
by Epsilon Delta
Mon Mar 11, 2019 12:59 am
Forum: Personal Investments
Topic: Cost basis of Series E US Saving Bonds redeemed in 2013
Replies: 8
Views: 718

Re: Cost basis of Series E US Saving Bonds redeemed in 2013

I believe that the last Series E Savings Bond stopped paying interest in 2010.

First, what ever the OP is trying to do the formula for cost basis needs to take into account some years of no interest. Also I am pretty sure that 4% was a floor and that at some times some E bonds earned more.

Second if they were cashed in 2013 then this was not taxable interest in 2013. Most likely it should have gone on the return when they stopped earning interest, in any case in 2010 or earlier. Fortunately all these tax years are closed and should be of no interest to the executor (or his agents).
by Epsilon Delta
Sun Mar 10, 2019 11:51 pm
Forum: Personal Investments
Topic: Hard copies
Replies: 12
Views: 1227

Re: Hard copies

longleaf wrote: Sun Mar 10, 2019 8:43 pm Paper certificates are a HUGE pain to deal with.
And they aren't really proof of ownership. Which is why you could get them reissued if you lost them. And why I have a bunch of them in a draw that I know are no good even though there is nothing on the certificates that says "cancelled".
by Epsilon Delta
Sun Mar 10, 2019 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Getting an electronic copy of my legal docs and switching attorneys
Replies: 13
Views: 1645

Re: Getting an electronic copy of my legal docs and switching attorneys

Electronic documents can contain a great deal of metadata. You never know what's lurking in a .docx file. I would expect a non-somnolent attorney to strongly resist handing over documents in electronic form.
by Epsilon Delta
Sun Mar 10, 2019 7:09 pm
Forum: Investing - Theory, News & General
Topic: Why diversification is not a viable strategy?
Replies: 252
Views: 17567

Re: Why diversification is not a viable strategy?

nisiprius wrote: Sun Mar 10, 2019 1:42 pm
the total income to date... has amounted to approximately one and a half million pounds starling ....
Clearly a fowl plot to corner the guano market.
by Epsilon Delta
Sun Mar 10, 2019 6:44 pm
Forum: Personal Investments
Topic: Leaving Roth to children?
Replies: 16
Views: 2446

Re: Leaving Roth to childREN?

Don't leave an IRA to a minor unless it can't be avoided. My kids were left one and we, as parents, can't even assume guardianship without going to court, posting a bond, and paying an attorney to justify our handling of the money EVERY YEAR. It's such a mess that it's almost not worth it, and we actually had to consider abandoning the money (which was almost 6 figures) and letting the money go to unclaimed property for the next 12 years, as the least costly option available. I am not a lawyer and people should consult one. Many years ago I was told that if you will money to a minor without further instructions the courts get very protective as you describe. I was told that if I appointed a guardian/trustee and give reasonable instructions...
by Epsilon Delta
Sun Mar 10, 2019 1:34 pm
Forum: Personal Investments
Topic: Terminology: "Retirement" funds
Replies: 29
Views: 1985

Re: Terminology: "Retirement" funds

IRA -individual retirement account 401k - defined contribution pension plan account. Pension indicates retirement. Not everyone who saves for retirement has an IRA nor a 401K. I do have an IRA but most of my "retirement" money is in a taxable account. As I take RMDs the balance moves more and more to the taxable account. It's still all "retirement" money. I am also "in charge" of non-retirement money that I manage for relatives. When someone says "retirement" or "non-retirement" it is not always clear what the context is. I simply pointed out the names on the account type indicates it’s purpose. You sounded confused. The purpose of each account is in the mind of the owner. Congress can set ...
by Epsilon Delta
Sun Mar 10, 2019 12:46 pm
Forum: Personal Consumer Issues
Topic: Home answering machine that only kicks in after many rings?
Replies: 56
Views: 3793

Re: Home answering machine that only kicks in after many rings?

cheese_breath wrote: Sun Mar 10, 2019 11:12 am And I don't either. I can't see paying muchos dolares for smart phones and subscriptions when a cheap flip phone does everything I need.
A cheap flip phone can text. Usually for free but I suppose somebody out there is still charging $0.10 per text.

I don't text much either, but I do in situations where the other person prefers texts and I care more about the communication than they do.
by Epsilon Delta
Sun Mar 10, 2019 12:31 pm
Forum: Personal Investments
Topic: Leaving Roth to children?
Replies: 16
Views: 2446

Re: Leaving Roth to childREN?

earlywynnfan wrote: Sun Mar 10, 2019 10:02 am
So I don't have to worry about, say, the oldest being in charge and [stealing from] her sister? If they are 50/50 beneficiaries, Vanguard will do the splitting for them?

That makes it easier!
If one is a minor you should appoint a trustee or financial guardian whose duty is to ensure no foul play. If you don't name one the courts will appoint somebody, it could in theory be the older sister which might be bad. If they are both adults and you still worry about foul play you may need a trust. Or an education program for the naif.
by Epsilon Delta
Sun Mar 10, 2019 12:11 pm
Forum: Personal Consumer Issues
Topic: My lamp exploded - can I re-wire it so that it will work with different voltages?
Replies: 49
Views: 4146

Re: My lamp exploded - can I re-wire it so that it will work with different voltages?

boomer_techie wrote: Sun Mar 10, 2019 3:08 am Lamp manufacturers only want to spend a few pennies for a bulb socket.
For a consumer Edison sockets are more expensive than many LED light bulbs. Probably not quite true for lamp manufacturers. Sockets are also less reliable than bulbs. I have a lamp that is now on it's third socket with the same LED bulb. Which is kind of perverse.

If we were starting from scratch we would not have Edison sockets, the bulb would be mechanically mounted with proper threads (or glue) and use screw terminals as found on better plugs and the backs of wall sockets.
by Epsilon Delta
Sun Mar 10, 2019 11:52 am
Forum: Personal Consumer Issues
Topic: My lamp exploded - can I re-wire it so that it will work with different voltages?
Replies: 49
Views: 4146

Re: My lamp exploded - can I re-wire it so that it will work with different voltages?

Auto switching is the wrong description for most universal power supplies. Most of them simply have a wide input range. They will be marked something like 100V - 250V AC. Which means they can run on anything between those limits. Many of them will run on DC as well. An auto-switching power supply will be marked something like 110V / 220V. It will run on nominal 110V or 220V, but if is not designed to work with on say 170V. This is usually not a problem because it is hard to find 170V coming out of the wall. There are older designs with a manual switch to select 110V/220V. It is the users job to set the switch before plugging it. Note that a "switching power supply" and an "auto-switching power supply" are not the same th...
by Epsilon Delta
Sat Mar 09, 2019 10:26 pm
Forum: Personal Consumer Issues
Topic: Home answering machine that only kicks in after many rings?
Replies: 56
Views: 3793

Re: Home answering machine that only kicks in after many rings?

But as you said, probably as many of the calls are spam calls and don’t deserve to be answered. It’s just hard to know in advance, alas. I’m beginning to think it might be better to just remove their answering machine. I suppose it’s those handful of calls with important information (medical appointments, etc.) that we want to know about. Also, as we expect to have a live-in caregiver stay with my parents in a couple of months, perhaps this will help to alleviate things. I do not understand what the problem is. What's wrong with letting the answering machine take the call after two rings and calling back a minute or five later if needed? AFAICT everybody who I want to speak to will leave a message. I know that all of my medical contacts wi...