Search found 10 matches

by Reilyx
Fri May 19, 2017 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

Anyone who was curious the end of the saga: Was able to piece together cost basis from expense reports from my father in law. Will be able to sell up to my IRA contribution max this year and next and stay beneath federal capital gains taxes. I'll likely sell the last bit and place into a more divers...
by Reilyx
Mon May 15, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

By the way, the default cost basis for tax purposes is zero. That would mean the current value is all CG. So it would be good to do some research for an estimate of cost. Google, contact her father and brokerages as well as the company to get what you can. There is a surprising amount of informatio...
by Reilyx
Sun May 14, 2017 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

I don't have access to the Schwab calculator, but it might not be accurate if you moved the account to Schwab after reinvesting for a few years. The good news is that if you have good records you can pretty easily reconstruct the total cost basis. You'll need: Original purchase price (including com...
by Reilyx
Sun May 14, 2017 6:48 am
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

If you're SURE about that, then you can sell immediately with no tax cost. And should sell. But calculating basis on shares that have been owned a long time can be tricky if there were stock splits and/or dividends reinvested. So, some additional questions: How long has your wife owned the original...
by Reilyx
Sat May 13, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

Your portfolio total value is $40,000. Your target asset allocation was 70% stock / 30% bond. That works out to be $28k in stock funds, and $12k in bond funds. You can put your bond portion in your Roth IRA accounts. Vanguard fund selections are generally less costly compared to Schwab. Granted the...
by Reilyx
Sat May 13, 2017 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

Yes. I agree with BL's suggestions if you are in the 15% bracket. Sell what you can at 0% gain each year and fund Roth IRAs for both of you. Do you know the cost basis of the XOM stock? I have it for about the first 15% of the shares purchased (+$360). The information isn't listed from then on at l...
by Reilyx
Sat May 13, 2017 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

That is something I had not fully thought of, to just sell up to the IRA contribution for both over the next two years. I think I was mostly stuck on just making the taxable account diversified and more efficient.

That is very good food for thought, thank you!
by Reilyx
Sat May 13, 2017 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

Ahh, very good. Still relatively new to an adults understanding of taxes...thanks for the clarification. Definitely nowhere near that bracket then. Does that change your opinion or does my lack of understanding run deeper? If I don't have to pay taxes on the gains while still in the lower bracket is...
by Reilyx
Sat May 13, 2017 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Re: Questions to Start

Thanks for the reply, That's honestly where I was leaning regarding the Schwab accounts, just wanted some other opinions. That is a good point regarding the potential to save via losses in the future and just stick it out for now. I got the 25% from 2016 jointly filed which I thought was 75,301. We ...
by Reilyx
Sat May 13, 2017 10:13 am
Forum: Investing - Help with Personal Investments
Topic: Questions to Start
Replies: 19
Views: 1403

Questions to Start

Background: I am a medical resident with another two years until I am finished with my training. My current saving ability is low, but I have tried to get into the practice of putting something away with regularity. Obviously, I am at the beginning of the race, but I want to start strong so I can en...