Search found 3660 matches

by HueyLD
Thu Feb 11, 2016 9:04 am
Forum: Personal Finance (Not Investing)
Topic: IRS 1095-C gap in coverage
Replies: 1
Views: 202

Re: IRS 1095-C gap in coverage

I had a three month period with a gap in coverage (between completion of a residency where I had health coverage and starting a full-time position at the same site where my coverage was dropped). Your statement is somewhat confusing. You said you had insurance while you were in residency. What were...
by HueyLD
Mon Feb 08, 2016 3:22 pm
Forum: Investing - Theory, News & General
Topic: VSS Spreads and TLH [FTSE Small Cap ex-US and Tax Loss Harvesting]
Replies: 29
Views: 1266

Re: VSS Spreads and TLH

rrppve wrote:Also a lesson for me that with Vanguard unless the ETFs are highly liquid, you're better off sticking with Admiral mutual fund shares.

Yes indeed.
by HueyLD
Sun Feb 07, 2016 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Huge Federal Tax Return
Replies: 16
Views: 2609

Re: Huge Federal Tax Return

Part of my compensation during the year is via a bonus. It's taxed at the highest rate so I suspect that's where most of my return comes from, but not sure if I can do anything to reduce the taxes taken from the bonus at the time of payment? You can change your withholding to xx for the bonus check...
by HueyLD
Sun Feb 07, 2016 7:27 am
Forum: Investing - Theory, News & General
Topic: [Vanguard Brokerage Services] 1099Bs Issued at the End of Feb
Replies: 28
Views: 2126

Re: [Vanguard Brokerage Services] 1099Bs Issued at the End of Feb

JoMoney,

If your holdings were that simple, why did you bother to convert to VBS? Was the conversion mandatory?
by HueyLD
Sat Feb 06, 2016 9:31 am
Forum: Personal Consumer Issues
Topic: Foreign Transaction Fee for Skype Payment on New Fidelity VISA
Replies: 8
Views: 569

Re: Foreign Transaction Fee for Skype Payment on New Fidelity VISA

There is a Skype forum and there are lots of complaints about the unexpected foreign transaction fees. Most people thought that they bought the service thru Microsoft, an U.S. company but Skype is a foreign subsidiary of an U.S. company. :shock:
by HueyLD
Fri Feb 05, 2016 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D IRMAA incorrectly assesed
Replies: 4
Views: 366

Re: Medicare Part D IRMAA incorrectly assesed

Part D is voluntary.

However, if you do not purchase Part D when you first become eligible, there will be a penalty for late enrollment. And Part D premium is subject to IRMAA if you choose to have this coverage.
by HueyLD
Fri Feb 05, 2016 10:26 pm
Forum: Investing - Help with Personal Investments
Topic: 5-year rule necessary? Inherited IRA, estate
Replies: 14
Views: 1367

Re: 5-year rule necessary? Inherited IRA, estate

I checked the IRA disclosure statements from two banks I have accounts with and they all say the same thing about IRA distribution options if an IRA owner dies without naming a beneficiary. Basically, if the deceased IRA owner did not designate a beneficiary, the account would become part of the est...
by HueyLD
Fri Feb 05, 2016 12:49 pm
Forum: Investing - Theory, News & General
Topic: Take the Verb Tense Pledge!
Replies: 69
Views: 3779

Re: Take the Verb Tense Pledge!

I want to thank Nisi for his important public service request. However, please forgive my bad spelling, poor sentence structure and sub-par grammar in some of my posts. I will take the pledge, but the failure rate may be high. Note: Past performance may or may not be a good indicator for future perf...
by HueyLD
Fri Feb 05, 2016 10:12 am
Forum: Personal Consumer Issues
Topic: Charities for Bogleheads?
Replies: 25
Views: 1387

Re: Charities for Bogleheads?

At the moment we support two charities. One is the local food pantry. They have very limited storage for perishables, so during the time they are open I make a run to a supermarket and pick up some fresh produce and bring it to the food pantry. I know that everyone at the food pantry is a volunteer...
by HueyLD
Fri Feb 05, 2016 9:22 am
Forum: Personal Finance (Not Investing)
Topic: IRS 1095 equivalent for short term health coverage?
Replies: 16
Views: 853

Re: IRS 1095 equivalent for short term health coverage?

The above statement needs clarification from the IRS. Am I charged interest on the money I owe? Yes, interest will continue to be added if you don’t pay the full amount you owe by the date on the payment coupon. Will I receive a penalty if I can't pay the full amount? No. The law prohibits the IRS f...
by HueyLD
Thu Feb 04, 2016 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1515

Re: Taxation of fellowship

Not Bob,

One more issue for you to ponder....

If you report the taxable fellowship (if it is taxable) on line 21, it will be considered "unearned" income and your little princess dependent will be subject to the kiddie tax.
by HueyLD
Thu Feb 04, 2016 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: IRS 1095 equivalent for short term health coverage?
Replies: 16
Views: 853

Re: IRS 1095 equivalent for short term health coverage?

If you had three months of coverage that wasn't qualified, you will be subject to the penalty tax for those three months, which on tax forms is called the shared responsibility payment . Two months of such coverage would not be subject to the payment, because Congress included a grace period of up ...
by HueyLD
Thu Feb 04, 2016 8:05 am
Forum: Personal Finance (Not Investing)
Topic: IRS 1095 equivalent for short term health coverage?
Replies: 16
Views: 853

Re: IRS 1095 equivalent for short term health coverage?

A COBRA is not considered a MEC unless you actually enroll in the COBRA coverage.
by HueyLD
Thu Feb 04, 2016 7:37 am
Forum: Personal Finance (Not Investing)
Topic: IRS 1095 equivalent for short term health coverage?
Replies: 16
Views: 853

Re: IRS 1095 equivalent for short term health coverage?

You need to ask Health Partners if the coverage it provided for July thru Sep qualified as a minimum essential coverage (MEC). If the answer is "yes," you were considered covered by MEC for all months except June and you can claim the short gap exemption for June. This hopefully is the ans...
by HueyLD
Wed Feb 03, 2016 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Child Support and taxes
Replies: 29
Views: 1235

Re: Child Support and taxes

I know of situations where the father couldn't get the exemption that he is legally entitled to because the mother refused to sign form 8332.

And the father couldn't afford to take her to court.
by HueyLD
Wed Feb 03, 2016 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Child Support and taxes
Replies: 29
Views: 1235

Re: Child Support and taxes

You are right, but I suspect that the father had in mind getting both the EIC and ACTC by claiming that he had the custody of the child. That maybe the real life situation and hopefully the IRS has stepped up the enforcement of such action. Anyway, back to the OP's question. The OP can certainly neg...
by HueyLD
Wed Feb 03, 2016 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Child Support and taxes
Replies: 29
Views: 1235

Re: Child Support and taxes

Sorry, I meant to say every other year.

However, there are many versions to child dependency claims in the real life situation.

I think the father wants the EIC and ACTC money.
by HueyLD
Wed Feb 03, 2016 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Child Support and taxes
Replies: 29
Views: 1235

Re: Child Support and taxes

Is there a clause in the divorce decree that allows the father to claim the child as a dependent as long as he pays court-ordered child support?

Claiming a child could mean big bucks for him in EIC and ACTC.
by HueyLD
Wed Feb 03, 2016 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1515

Re: Taxation of fellowship

Not Bob, The following is my interpretation of the tax treatment for your daughter's situation. Based on what you indicated in prior posts, the fellowship qualifies as tax-exempt because all requirements were met and no past, present or future services were required. However, she received a 1099-MIS...
by HueyLD
Wed Feb 03, 2016 12:10 am
Forum: Investing - Theory, News & General
Topic: Would you cash in a 6 month and 9 month CD early to invest in this market or wait?
Replies: 7
Views: 972

Re: Would you cash in a 6 month and 9 month CD early to invest in this market or wait?

Would you cash in a 6 month and 9 month CD early to invest in this market or wait? Will the amount be a significant portion of your portfolio? What does your IPS say about asset allocation? If the market should go down further than you expect after you move the money from CDs to stocks, will you ha...
by HueyLD
Tue Feb 02, 2016 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: IRS 1095 equivalent for short term health coverage?
Replies: 16
Views: 853

Re: IRS 1095 equivalent for short term health coverage?

It appears that the Health Partners plan did not qualify as "minimum essential coverage." So, here is an extremely important question: What were the coverage begin date and end date for your each of your two employers' coverage (one before and one after the gap)? Your ability to claim a &q...
by HueyLD
Tue Feb 02, 2016 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable donations as a percentage of AGI?
Replies: 12
Views: 575

Re: Charitable donations as a percentage of AGI?

livesoft wrote:Up to 30% of AGI.

UP TO 30% could mean 0%. :shock:
by HueyLD
Tue Feb 02, 2016 9:00 am
Forum: Personal Finance (Not Investing)
Topic: I think my W2 has a mistake - doublecheck me?
Replies: 13
Views: 1281

Re: I think my W2 has a mistake - doublecheck me?

Make sure you bring all the documentation with you, including your last pay stub for 2015 and the instructions for box 12 of W-2.

As is reported right now, it will cost you a lot of tax penalty.
by HueyLD
Mon Feb 01, 2016 9:41 pm
Forum: Investing - Theory, News & General
Topic: Anyone have Fidelity? [Fund availability for trades - any restrictions?]
Replies: 8
Views: 1139

Re: Anyone have Fidelity? [Fund availability for trades - any restrictions?]

As with many things at Fido, you may be allowed to trade with zero cash balance and none in pending transfer even as a non-margin customer. For example, you want to purchase an IPO today but don't want to transfer money right away because the IPO won't settle until one month later. You can call Fido...
by HueyLD
Mon Feb 01, 2016 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Is Federal Reserve Employment PLSF Eligible?
Replies: 4
Views: 537

Re: Is Federal Reserve Employment PLSF Eligible?

A friend of mine used to work as an examiner for the FRB. He said that they could only ask for "corporate" rate, not "government" rate whenever they booked hotel rooms.

I think the op should ask the FRB for a clarification.
by HueyLD
Mon Feb 01, 2016 5:33 pm
Forum: Investing - Theory, News & General
Topic: Anyone have Fidelity? [Fund availability for trades - any restrictions?]
Replies: 8
Views: 1139

Re: Anyone have Fidelity?

It depends on the margin feature. If you have margin on your account, you can place trade even with zero balance in your core cash as long as the total marginable security value exceeds the trade amount. If you do not have margin on your account, here is what Fido says on their website: Cash Availab...
by HueyLD
Mon Feb 01, 2016 2:01 pm
Forum: Personal Consumer Issues
Topic: Dual-military couple relocating to Vilseck, Germany :)
Replies: 23
Views: 1677

Re: Dual-military couple relocating to Vilseck, Germany :)

Foreign earned income rules do not apply to those working for the U.S. Government or military.
by HueyLD
Sun Jan 31, 2016 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: Do you buy a SPIA from an IRA account?
Replies: 15
Views: 1243

Re: Do you buy a SPIA from an IRA account?

I am wondering if one can buy a SPIA from an IRA? Yes. Can one also purchase it from a taxable account? Yes. If one can purchase it from an IRA, are the proceeds taxed? Yes if all your IRA money is pre-tax. What happens if one purchases it from a taxable account? Payments representing your own afte...
by HueyLD
Sun Jan 31, 2016 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Muni bond ladder vs fund for large $$$$
Replies: 42
Views: 3137

Re: Muni bond ladder vs fund for large $$$$

underwood wrote:The question is will the actively managed ladder pay back the extra expense through superior performance?

That's the question you should ask the prospective wealth management firms. Ask them to show the proof that they have delivered a better risk adjusted return net of AUM fees.
by HueyLD
Sun Jan 31, 2016 3:28 pm
Forum: Personal Consumer Issues
Topic: Which app/plan do you use to make calls to overseas?
Replies: 40
Views: 1635

Re: Which app/plan do you use to make calls to overseas?

You can buy calling cards online. For example, keepcalling.com offers very good rates and local access numbers for many locations throughout the country. You can check out their website.

Too bad your friends do not have Apple products because you can call them using FaceTime free of charge.
by HueyLD
Sun Jan 31, 2016 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: Muni bond ladder vs fund for large $$$$
Replies: 42
Views: 3137

Re: Muni bond ladder vs fund for large $$$$

Maintaining an active bond ladder requires analytical skills and a lot of work. How much time do you plan to spend on finding replacements for matured/called bonds? How about re-investments of income not needed for current consumption? Are you comfortable with reading official offering statements to...
by HueyLD
Sun Jan 31, 2016 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Bank bonus issued 1099-misc, how to proceed
Replies: 3
Views: 649

Re: Bank bonus issued 1099-misc, how to proceed

It looks like an incorrect reporting of banking bonuses. They should be reported as either interest income on 1099-INT or in box 3 of 1099-MISC. You can ask the bank for an explanation. Should they be unwilling or unable to explain, the instructions on the back of your 1099-MISC tells you one of you...
by HueyLD
Sun Jan 31, 2016 5:57 am
Forum: Investing - Theory, News & General
Topic: Correct TIPS Auction Price
Replies: 9
Views: 664

Re: Correct TIPS Auction Price

The Fidelity confirmation page as shown by saltcaper has all the correct information.

However, TD may have $25 commission on this purchase and they can either show this $25 as a separate line or embed it in the market price.

This latest auction appears to be a good one.
by HueyLD
Wed Jan 27, 2016 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Savings Bond Interest: year matured or year 1099 sent?
Replies: 7
Views: 404

Re: Savings Bond Interest: year matured or year 1099 sent?

I can think of several scenarios where one has to adjust the amount reported on 1099-INT. So, it is no big deal to have a reported taxable amount that is different from the 1099-INT amount.

The key is to show the 1099-INT amount first, followed by appropriate adjustments.
by HueyLD
Wed Jan 27, 2016 8:49 am
Forum: Personal Finance (Not Investing)
Topic: CD Maturing
Replies: 8
Views: 407

Re: CD Maturing

If you don't have a checking or savings account at both banks, it is virtually impossible to do ACH transfers because such transfers require both a routing number and an account number and CDs typically cannot receive ACH transfers. A wire transfer is a possibility but it will cost you some money at...
by HueyLD
Wed Jan 27, 2016 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Savings Bond Interest: year matured or year 1099 sent?
Replies: 7
Views: 404

Re: Savings Bond Interest: year matured or year 1099 sent?

In that case, follow the following instructions from the IRS Pub 550 for your year 2016 taxes which you will prepare in early 2017: U.S. savings bond interest previously reported. If you received a Form 1099-INT for U.S. savings bond interest, the form may show interest you do not have to report. On...
by HueyLD
Tue Jan 26, 2016 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes for Resident Aliens
Replies: 11
Views: 518

Re: Taxes for Resident Aliens

BL,

Friar wants to teach his student to learn how to prepare her own tax returns. :)
by HueyLD
Tue Jan 26, 2016 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Bond Interest: year matured or year 1099 sent?
Replies: 7
Views: 404

Re: Savings Bond Interest: year matured or year 1099 sent?

If not reported annually, interest is reported in the year of redemption. Just wait until you receive the 1099 next year. Here is what TD site says: Reporting the interest all at once at the end Most people defer reporting the interest, putting it off until they are filing a federal income tax retur...
by HueyLD
Tue Jan 26, 2016 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes for Resident Aliens
Replies: 11
Views: 518

Re: Taxes for Resident Aliens

I ... I don't see anything about her status as a resident alien that changes the tax process from what it would be if she were a US citizen. For tax purposes, whether or not one is a "resident alien" only depends on how long one has been in the states, and whether meet the Substantial-Pre...
by HueyLD
Tue Jan 26, 2016 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes for Resident Aliens
Replies: 11
Views: 518

Re: Taxes for Resident Aliens

Was 2015 her first year on H1B visa? If so, what was her previous visa status? I'll find out for sure on Thurs (next tutor session.) Good idea. Keep in mind that resident aliens for tax purpose are different from resident aliens for immigration purpose. Since you are into teaching, you may want to ...
by HueyLD
Tue Jan 26, 2016 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: TaxACT and TurboTax difference in NIIT (Form 8960)
Replies: 14
Views: 963

Re: TaxACT and TurboTax difference in NIIT (Form 8960)

Kurmudjon wrote:I think the OP understands how to get the correct answer and is only wondering why the two tax programs don't get the same result. If Tax Act is not doing this calculation correctly one could wonder what else might be missing.

Exactly!
by HueyLD
Tue Jan 26, 2016 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes for Resident Aliens
Replies: 11
Views: 518

Re: Taxes for Resident Aliens

Was 2015 her first year on H1B visa? If so, what was her previous visa status?
by HueyLD
Tue Jan 26, 2016 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: TaxACT and TurboTax difference in NIIT (Form 8960)
Replies: 14
Views: 963

Re: TaxACT and TurboTax difference in NIIT (Form 8960)

It is obvious that someone at your income level is better served with TT.
by HueyLD
Sat Jan 23, 2016 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: penalties for early closing of CDs
Replies: 12
Views: 812

Re: penalties for early closing of CDs

Thanks, Carl.

They moved the IRA EWPs out of the CD opening form. It is very confusing.
by HueyLD
Sat Jan 23, 2016 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: penalties for early closing of CDs
Replies: 12
Views: 812

Re: penalties for early closing of CDs

Not every financial institution offers penalty free withdrawals for RMDs. As an example, PenFed used to have such an exception, but no longer.

Ally bank currently offers such an exception, but they only waive the EWP up to the RMD amount on their CD.
by HueyLD
Sat Jan 23, 2016 4:17 pm
Forum: Investing - Help with Personal Investments
Topic: Moving IRA money from Vanguard to Navy Fed, and back?
Replies: 3
Views: 248

Re: Moving IRA money from Vanguard to Navy Fed, and back?

You will fill out a similar form at Vanguard to transfer the money from NFCU. Here is the link https://www.vanguard.com/pdf/s258.pdf

The NFCU's direct transfer form doesn't look too complicated. You can visit a branch, send them an eMessage, or contact them at 1-888-842-6328.

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