Search found 1548 matches

by Chip
Wed Nov 15, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Funding Fidelity DAF
Replies: 1
Views: 206

Re: Funding Fidelity DAF

The minimum to fund the Fidelity DAF is $5K. Does that mean after that threshold is met, there is no additional minimum? E.g. I fund my DAF with $5k this year and next year put in say 2K or less? Is there a minimum balance? thanks No additional minimum contribution, no minimum balance. I have had t...
by Chip
Wed Nov 15, 2017 6:19 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

Perhaps Code 7 would avoid a notice. The point is, if a taxpayer does a backdoor Roth, it's a good idea to take the time to prepare the Form 8606 accurately, by completing lines 1-15 AND 16-18, rather than taking a shortcut by leaving the conversion lines blank, figuring the IRS may not catch the e...
by Chip
Tue Nov 14, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

Code 2 on the 1099-R will almost always be an indication of a Roth conversion. Other than conversions prior to 59 1/2, Code 2 is only used (1) to show a distribution forced by an IRS levy, or (2) to show a distribution that is part of a SEPP (series of substantially equal periodic payments). Those ...
by Chip
Tue Nov 14, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

susa wrote:
Tue Nov 14, 2017 9:59 am
What about lines 8 and 11?
MarkNYC wrote:...lines 8 and 11 will indicate that a conversion took place..
Lines 8 and 11 only come into play if you have made non-deductible contributions. And often not even then if the worksheet in Pub 590-B is used by your tax software instead of filling out Lines 6-12.
by Chip
Tue Nov 14, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

On Part 1 of Form 8606, lines 8 and 11 will indicate that a conversion took place, in which case lines 16-18 must be completed. I appreciate your willingness to stick with this. TurboTax often doesn't even fill out Lines 6-12 of 8606. It instead uses the Taxable IRA Distribution worksheet in Pub 59...
by Chip
Tue Nov 14, 2017 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

I confess to reading just now the Form 8606 Instructions ( 2016 version online today ) and NOT fully understanding them. On one hand several directions are given but exceptions nullify them with directions to leave boxes empty. As a rough oversimplification, as we have otherwise no income, only tha...
by Chip
Tue Nov 14, 2017 4:38 am
Forum: Personal Consumer Issues
Topic: Costco for tires and car insurance?
Replies: 75
Views: 5228

Re: Costco for tires and car insurance?

When does everyone replace? I'm at 4/32" and considering 'winter is coming' I'm thinking it's probably best to do it now even though they have some life left (in dry conditions atleast). Recent thread on that topic here . I thought there was a surprising amount of consensus in that thread that 4/32...
by Chip
Tue Nov 14, 2017 4:13 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

Yes. When you do a Roth conversion, you MUST complete lines 16-18 of Form 8606 for the form to be complete and accurate. (unless it was fully recharacterized) Line 18 shows the "taxable amount" of the conversion. If left blank, the IRS will assume the conversion is fully taxable. Thanks. I don't se...
by Chip
Mon Nov 13, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

I don't believe the information on Form 5498 is included in the IRS tax document matching program that generates the CP2000 notice. If it was included, then the IRS could easily detect RMDs that are omitted, and excess Roth contributions due to AGI being too high. I have never seen the IRS catch ei...
by Chip
Mon Nov 13, 2017 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

Maybe I'm missing something: If somebody does a Roth conversion but fails to report it with F8606, why would they be surprised to have the IRS to come knocking later on? I'm not sure where the 5498 even comes in, unless people are relying on the IRS to cross-reference that form to infer what the F8...
by Chip
Mon Nov 13, 2017 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

But generally a ROTH conversion isn't a non-taxable distribution. You'd have to have basis to have an amount that wasn't taxable. This would require an 8606 but my experience is that if you stare long enough at the obscure Q&A in most retail tax packages you can figure out how to answer their mangl...
by Chip
Mon Nov 13, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Form 5498 or 1099R (IRA to Roth Conversion)
Replies: 40
Views: 1634

Re: Form 5498 or 1099R (IRA to Roth Conversion)

The 5498 establishes the fact that the money ended up in the ROTH. This sets up this up to be properly reported in future years when you take a distribution from the ROTH. The custodian of the ROTH IRA, which may not even be the same one as the Traditional IRA, will report the distribution as a ROT...
by Chip
Mon Nov 13, 2017 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Bunching Deductions property state
Replies: 5
Views: 519

Re: Bunching Deductions property state

I suggest searching for past discussions here (search term = "bunching deductions"). There are quite a few. My experience with trying to pay future year state withholding is that you have to be very careful to avoid the state making a mistake that will come back to haunt you. For example, one year m...
by Chip
Mon Nov 13, 2017 6:20 am
Forum: Personal Consumer Issues
Topic: Worth changing 40 gal. to 30gal. hot water tank?
Replies: 90
Views: 4638

Re: Worth changing 40 gal. to 30gal. hot water tank?

You can argue the facts, but wholesale pricing isn't useful data. This is the nub of it. You can't use wholesale price data to talk about retail prices. US wholesale natural gas price went from something like $16 to $2.50 (I remember the price, but not the units used). So yes, say 1/7th. EIA publis...
by Chip
Sun Nov 12, 2017 2:22 pm
Forum: Investing - Theory, News & General
Topic: Fidelity year end fund estimates now available
Replies: 0
Views: 267

Fidelity year end fund estimates now available

For those who have Fidelity funds, year-end distribution estimates are now available here:

https://www.fidelity.com/mutual-funds/i ... n/year-end
by Chip
Sun Nov 12, 2017 2:10 pm
Forum: Personal Consumer Issues
Topic: Worth changing 40 gal. to 30gal. hot water tank?
Replies: 90
Views: 4638

Re: Worth changing 40 gal. to 30gal. hot water tank?

Average residential price of natural gas in Aug 2017 was $18.09 per thousand cu ft. In Aug 2007 it was $16.71. So the price is 8% higher than it was 10 years ago. Your statement isn't even remotely close to reality. Opinion is one thing, but I find it amusing how opinions appear as "facts" on these...
by Chip
Sun Nov 12, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Use or Lose $850 from Limited Expense FSA
Replies: 36
Views: 1626

Re: Use or Lose $850 from Limited Expense FSA

Backup pair of regular glasses. Stock up on disposable contact lenses if either of you wears them.

I don't know if this is legal or not, but if it is perhaps you could prepay the dentist for the eventual root canal/crown.
by Chip
Sun Nov 12, 2017 6:47 am
Forum: Personal Consumer Issues
Topic: Costco for tires and car insurance?
Replies: 75
Views: 5228

Re: Costco for tires and car insurance?

Does Costco have the ability to perform alignments? I don’t see an alignment rack at ours and can’t imagine why one would buy tires without getting an alignment. I am pretty sure they have no alignment capabilities. But I disagree with your premise. Most modern vehicles hold their alignments very w...
by Chip
Sun Nov 12, 2017 6:03 am
Forum: Personal Finance (Not Investing)
Topic: ACA MAGI planning
Replies: 52
Views: 3741

Re: ACA MAGI planning

Personally, I'm not going to execute any post-Dec 31 strategies as this is my first year ACA and I want to keep it all as simple as possible [code for "I don't want to screw anything up"]. You obviously have a very good handle on the ACA PTC complexities. So it surprises me that you wouldn't want t...
by Chip
Fri Nov 10, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: NUA (Net Unrealized Appreciation) and Tax Returns
Replies: 9
Views: 465

Re: NUA (Net Unrealized Appreciation) and Tax Returns

More challenging is the reporting of the share sales on Form 8949 when you sell the NUA shares [...]. You could have a mix of ST and LT gains on the same share if you sell in the first year. Alan, do you have any guidance on how you would actually enter this ST/LT mix in tax software? Or even manua...
by Chip
Fri Nov 10, 2017 2:46 pm
Forum: Personal Consumer Issues
Topic: Maximizing use of electrician - outlet repair/upgrades
Replies: 20
Views: 1400

Re: Maximizing use of electrician - outlet repair/upgrades

Best guess is that the housecleaner flipped the switch when looking for a light or an outlet for the vacuum. But I am curious about GYI outlets. It's been mentioned that electrocution is the risk of not having a GYI outlet. Can that risk be mitigated by simply turning off an appliance before unplug...
by Chip
Fri Nov 10, 2017 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: NUA (Net Unrealized Appreciation) and Tax Returns
Replies: 9
Views: 465

Re: NUA (Net Unrealized Appreciation) and Tax Returns

I am not planning to do a lump sum distribution. I was going to do a trustee to trustee roll-over of the index funds and move the company stock into a taxable brokerage account. I have been told that I do need to close out the full 401K account with my previous employer but that I could do so in tw...
by Chip
Fri Nov 10, 2017 11:37 am
Forum: Personal Finance (Not Investing)
Topic: NUA (Net Unrealized Appreciation) and Tax Returns
Replies: 9
Views: 465

Re: NUA (Net Unrealized Appreciation) and Tax Returns

I think you have the process mostly correct. You are going to completely empty the 401k in a lump sum distribution, correct? And you have had a qualifying event that allows you to take a distribution under NUA rules? And haven't made a disqualifying distribution since that qualifying event? I believ...
by Chip
Fri Nov 10, 2017 8:56 am
Forum: Personal Consumer Issues
Topic: Spam calls to cell phone...
Replies: 87
Views: 6039

Re: Spam calls to cell phone...

I have a low-end cell phone with a small, pay-per-minute plan [...] I don't want to let the calls go to voice vail because I later have to go there to check them out and delete them, a time-consuming PITA and it costs me money to call my VM. It's still a pain, but you can avoid the cost of calling ...
by Chip
Fri Nov 10, 2017 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Transitioning from ACA to medicare
Replies: 25
Views: 1064

Re: Transitioning from ACA to medicare

A related question. Does the medicare in the second part of the year inherit the deductible accumulation and the accumulation towards annual OOP from the ACA in the first part of the year? My wife went from a retiree plan to Medicare. No deductible accumulations carried over. She started over again...
by Chip
Fri Nov 10, 2017 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Bogleizing Widowed Mom's Portfolio (tax considerations)
Replies: 25
Views: 1653

Re: Bogleizing Widowed Mom's Portfolio (tax considerations)

Your suggestion is along the general line of thinking I was considering which I believe would minimize taxes, reduce expense ratios and increase diversification. Selling all high cost etfs would generate $19K in capital gains. Selling all stocks worth less than 1% as well as stocks with losses woul...
by Chip
Fri Nov 10, 2017 6:59 am
Forum: Personal Finance (Not Investing)
Topic: ACA coverage for Live-in Mother-in-law
Replies: 8
Views: 628

Re: ACA coverage for Live-in Mother-in-law

Does she have any money in a traditional IRA? If so she could convert a few thousand dollars to a Roth IRA, creating income that will work for ACA purposes.
by Chip
Thu Nov 09, 2017 1:13 pm
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19276

Re: [Yahoo Finance no longer works - Alternatives to download securities quotes]

I no longer have a download or export link on my Yahoo portfolio page. The link I was using to get a csv file stopped working last week. What url are you using to view your portfolio? https://finance.yahoo.com/portfolio/pf_5/view/v1 I think the pf_5 means it's the 5th portfolio on Yahoo I've create...
by Chip
Thu Nov 09, 2017 10:08 am
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19276

Re: [Yahoo Finance no longer works - Alternatives to download securities quotes]

Very similar to my workaround process, except I simply "Open" for the "quotes.csv" file rather than "Save Link As..." It opens the file automatically in Excel, combining your #2 and #3. I also use INDEX/MATCH to pull in the pasted values rather than VLOOKUP, but that's not a substantive difference....
by Chip
Thu Nov 09, 2017 7:48 am
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19276

Re: [Yahoo Finance no longer works - Alternatives to download securities quotes]

Using Google Finance and Google Sheets you can create a live link to your Excel or LibreOffice spreadsheet. That means that quotes get updated dynamically during the trading day at some interval like every minute. Once set up there's no need to download/import .CSV files every time you want to see ...
by Chip
Thu Nov 09, 2017 4:47 am
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19276

Re: [Yahoo Finance no longer works - Alternatives to download securities quotes]

My workaround has been to set up a "My Watchlist" for my mutual funds on Yahoo Finance. It doesn't provide much info other than NAV. But it has an "Export" button which opens up a simple .csv file in Excel. I then copy/paste the NAVs into my main Excel spreadsheet. I tried it about 7:30 EST tonight...
by Chip
Wed Nov 08, 2017 4:04 pm
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3290

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

I looked at all our previous monthly usages for the last year and 500 minutes, 1000 texts, and 300mb on each line will more than cover our typical usage. We have never gone over one of those in the last year. We don't stream on data, only WIFI, and our data usage is very very low. USMobile bills $2...
by Chip
Wed Nov 08, 2017 4:37 am
Forum: Investing - Help with Personal Investments
Topic: Asset allocation and placement critique/feedback
Replies: 13
Views: 966

Re: Asset allocation and placement critique/feedback

Hi, and welcome! I agree with previous comments about asset location/choices. You're off to a very good start. Have you considered paying off the student loan vs. investing in taxable? A 5.25% guaranteed return is hard to beat. While I agree that holding international funds in taxable can be a good ...
by Chip
Tue Nov 07, 2017 4:48 pm
Forum: Personal Consumer Issues
Topic: Furnace Issues
Replies: 30
Views: 1783

Re: Furnace Issues

You can guesstimate that a new furnace would save you around 20% on your gas bill-- modern furnaces (gas) run efficiencies of over 90% and yours is probably doing around 70%-- it might even be possible to look that up (Energy Information Agency has a calculator on one of its web pages). [...] I wou...
by Chip
Tue Nov 07, 2017 3:51 am
Forum: Personal Consumer Issues
Topic: Furnace Issues
Replies: 30
Views: 1783

Re: Furnace Issues

I have a gas furnace of a similar age. It's a Trane 80XL. The usual startup sequence for mine is that first the inducer blower starts up. It's a small blower that creates a slight negative pressure ("induced draft") in the combustion chamber. After a few seconds of run time, IF a sensor determines t...
by Chip
Mon Nov 06, 2017 5:00 pm
Forum: Personal Consumer Issues
Topic: Climate controlled cars - Useful or Useless?
Replies: 49
Views: 2085

Re: Climate controlled cars - Useful or Useless?

I don't completely hate the Honda auto system that I have, but the ergonomics are lousy. Sometimes I know better than the system what settings I want. For example, on a cold, dry day with a defog need I'd rather not run the A/C compressor with the system set to recirc (Honda default if defrost is se...
by Chip
Fri Nov 03, 2017 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in Roth-Rules
Replies: 2
Views: 286

Re: Investing in Roth-Rules

Hey all, I just had a quick question relating to IRS rules with Roth IRAs. I have some liquid cash (about 10 grand) that I wanted to throw into a Vanguard Roth IRA in addition to the small 401k that I have through my employer. I know the IRS limit per year is 5500 (depending on your income, lets ju...
by Chip
Fri Nov 03, 2017 10:59 am
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19276

Re: Excel Macro using Yahoo Finance- not working

Peculiar_Investor wrote:
Thu Nov 02, 2017 9:39 am
A follow-up that I've also posted on FWF.
Randy Harmelink wrote:
Oh my. That name is a blast from my past; on a forum in a galaxy far, far away. :beer
by Chip
Fri Nov 03, 2017 8:17 am
Forum: Investing - Help with Personal Investments
Topic: Help with estimating income taxes I will owe in 2017
Replies: 10
Views: 1053

Re: Help with estimating income taxes I will owe in 2017

You're doing it correctly if you only have W-2 or other ordinary income. Qualified dividends or LT capital gains would complicate the calculation.

Nitpick: The personal exemption for 2017 is 4,050. 5*4050 = 20,250, not 20,500.
by Chip
Fri Nov 03, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Should I decline Grand Prize trip because of taxes on winnings?
Replies: 87
Views: 7075

Re: Should I decline Grand Prize trip because of taxes on winnings?

Financially we can easily afford to do this. However we don't typically travel a lot, and have built up a significant net worth by being frugal . Like my husband said, “if you were going to spend $4000 on a trip, would this be it?” And the answer is no, this is not my “dream trip”. I think you have...
by Chip
Fri Nov 03, 2017 7:39 am
Forum: Investing - Theory, News & General
Topic: Have TIPS truly been tested yet?
Replies: 34
Views: 2606

Re: Have TIPS truly been tested yet?

Can one really put 25-50% of their bond portfolio into TIPS comfortably? Sure. I have. I agree with Aloha Joe's comments. A couple of things to think about. Your personal inflation rate will almost certainly not match the CPI. Could be higher, could be lower. That doesn't mean the CPI is "wrong" or...
by Chip
Fri Nov 03, 2017 6:41 am
Forum: Investing - Help with Personal Investments
Topic: Please critique tax efficiency of my portfolio
Replies: 18
Views: 1637

Re: Please critique tax efficiency of my portfolio

1) Should I shift bond holdings from taxable to tax deferred accounts for tax efficiency? Specifically, within the taxable account I was considering whether I should sell the muni funds and buy domestic stock funds. And in the Tax deferred accounts, sell domestic stock funds and buy bond funds to r...
by Chip
Tue Oct 31, 2017 5:21 am
Forum: Investing - Theory, News & General
Topic: Should I switch from a muni bond ladder to a bond fund?
Replies: 12
Views: 1753

Re: Should I switch from a muni bond ladder to a bond fund?

Do you own any stock funds in your tax-deferred accounts? If so, it might make sense to swap them out for taxable bond funds and buy stock funds in taxable with the money that's in the muni bonds. Keeping your overall allocations the same, of course.
by Chip
Sun Oct 29, 2017 6:46 am
Forum: Personal Consumer Issues
Topic: Heavy Duty Boxes for long term storage
Replies: 6
Views: 507

Re: Heavy Duty Boxes for long term storage

Here's some more info from a thread with the same title that you started two months ago:

viewtopic.php?t=225113
by Chip
Sun Oct 29, 2017 5:41 am
Forum: Personal Consumer Issues
Topic: No true pay as you go [cellphone plan]
Replies: 63
Views: 5157

Re: No true pay as you go [cellphone plan]

mouses wrote:
Sat Oct 28, 2017 5:25 pm
I think you mean virtual memory, developed circa the 1960s. :D
Yeah, that. I guess it was such old technology that Microsoft skipped putting it in MS-DOS. :D
by Chip
Sun Oct 29, 2017 5:37 am
Forum: Personal Finance (Not Investing)
Topic: VG free turbo tax?
Replies: 26
Views: 2183

Re: VG free turbo tax?

Fido did not have free TT for tax year 2016. I called Fido up back in Feb or so, and they said no free TT, only $20 off, although I am Fido Private Client. If you trade a lot at Fido, I think you were eligible, but I don't trade much. This is weird. I got it for free from Fido for TY2016. I definit...
by Chip
Sat Oct 28, 2017 9:41 am
Forum: Personal Consumer Issues
Topic: No true pay as you go [cellphone plan]
Replies: 63
Views: 5157

Re: No true pay as you go [cellphone plan]

Thanks for sharing. Any short-comings with the 2 GB? None so far, but my usage is pretty light and I haven't had it that long. Plus I'm pretty good at closing apps after use. Eyeballing the memory listing in Settings it looks like Android system stuff uses roughly 1 GB, though I don't know if that'...
by Chip
Sat Oct 28, 2017 3:46 am
Forum: Personal Consumer Issues
Topic: No true pay as you go [cellphone plan]
Replies: 63
Views: 5157

Re: No true pay as you go [cellphone plan]

I bought one of these and just returned it this morning. It is very uncomfortable. It feels cold (I got the "gold" one maybe the other color(s) are different.) Also the charger is hard to plug into the phone, It felt like I had to jam it in. I'm not sure how long it would last with that going on. T...
by Chip
Wed Oct 25, 2017 7:54 am
Forum: Personal Consumer Issues
Topic: Honda Accord LX with no transmissin dipstick
Replies: 31
Views: 2428

Re: Honda Accord LX with no transmissin dipstick

tibbitts wrote:
Wed Oct 25, 2017 7:47 am
Transmission fluid changes on almost all cars are extremely complicated. Of all the cars I've ever owned only one had a drain plug.
This may be true in general, but in this specific case the Accord CVT has an easily accessible drain plug.
by Chip
Wed Oct 25, 2017 7:12 am
Forum: Investing - Theory, News & General
Topic: Do Investors really underperform their investments
Replies: 45
Views: 3764

Re: Do Investors really underperform their investments

It's mentioned in Pfau's article, but let's remember that it was Bogleheads member tfb (Harry Sit - The Finance Buff) who first explored the problems with Dalbar's calculations and conclusions.