Search found 1812 matches

by dmcmahon
Wed Apr 20, 2016 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Where to enter CRUT donation in TurboTax?
Replies: 7
Views: 860

Re: Where to enter CRUT donation in TurboTax?

I was able to trick TT into producing a mostly correct tax return, except for that one form. What I did is lie to TT about the property - I said yes to the question about transferring 100% of the interest in the property, but then entered the deductible value calculated by my attorney as if it were ...
by dmcmahon
Wed Apr 20, 2016 6:57 am
Forum: Investing - Theory, News & General
Topic: A new kind of a roth back door.
Replies: 7
Views: 1620

Re: A new kind of a roth back door.

I'm not sure it's a new idea and it's not limited to Roth accounts so it's more of a general retirement savings back door. I first heard the idea that's at the core of your proposal in the context of a company 401k plan. Basically the idea was to take a loan and then pay it back, thus adding the loa...
by dmcmahon
Mon Mar 28, 2016 9:58 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19377

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

I think this discussion is focusing on the wrong part of the interview. The point isn't that there's some hearsay about some people who got audited and reversed it. Kitces provides valuable information about the grounds that the IRS would use to object to the practice, as well as how to avoid runni...
by dmcmahon
Tue Mar 15, 2016 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Throw away turbo tax disk?
Replies: 16
Views: 1693

Re: Throw away turbo tax disk?

Doesn't work. Too many updates needed which are no longer available on line. Save PDFs for all your returns, the old tt files will no longer be useful after about 5 years even if you keep the install disks. I generally agree with this, and personally keep PDFs of both my submitted return and all th...
by dmcmahon
Tue Mar 15, 2016 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Throw away turbo tax disk?
Replies: 16
Views: 1693

Re: Throw away turbo tax disk?

The only reason I can think of for keeping them is if for any reason you might have to reprint an old tax return. Doesn't work. Too many updates needed which are no longer available on line. Save PDFs for all your returns, the old tt files will no longer be useful after about 5 years even if you ke...
by dmcmahon
Tue Mar 15, 2016 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Throw away turbo tax disk?
Replies: 16
Views: 1693

Re: Throw away turbo tax disk?

The only reason I can think of for keeping them is if for any reason you might have to reprint an old tax return. Doesn't work. Too many updates needed which are no longer available on line. Save PDFs for all your returns, the old tt files will no longer be useful after about 5 years even if you ke...
by dmcmahon
Sun Mar 13, 2016 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Where to enter CRUT donation in TurboTax?
Replies: 7
Views: 860

Re: Where to enter CRUT donation in TurboTax?

Nope, that doesn't work. If you "retained an interest in the property transferred" it says you can't use TT. I didn't really retain any interest in the property, but I have an interest in the trust, which seems like it's the same idea. Sign - another call to my attorney. The needed form is...
by dmcmahon
Sun Mar 13, 2016 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Where to enter CRUT donation in TurboTax?
Replies: 7
Views: 860

Re: Where to enter CRUT donation in TurboTax?

I had an accountant prepare 5227 for the trust. It's been filed with the IRS. California has it's own form, also prepared by the accountant and filed. The trust issued a K1 to me for the 2015 unitrust amount, which I'll report this year. TT has a place for me to enter that. So far so good. The issue...
by dmcmahon
Sun Mar 13, 2016 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Where to enter CRUT donation in TurboTax?
Replies: 7
Views: 860

Where to enter CRUT donation in TurboTax?

I set up a Charitable Remainder Unitrust last year, using appreciated stock. I have a letter from my lawyer with the details regarding the allowable deduction based on actuarial calculations. Problem is, I have no idea where or how to enter this amount in TurboTax. 100% of my past experience with TT...
by dmcmahon
Tue Mar 08, 2016 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Handling of K1 income [from trust income]
Replies: 3
Views: 356

Handling of K1 income [from trust income]

I have a question related to K1 income. Suppose that person A receives income from trust T. The income is paid in arrears after the calendar year. That is to say, in 2016, A received income from T that was computed on the trust's 2015 income. The trust paid 100% of its income to A, so it doesn't owe...
by dmcmahon
Fri Feb 26, 2016 1:10 am
Forum: Investing - Theory, News & General
Topic: Where does the money go when stocks and bonds are in the red ?
Replies: 34
Views: 4377

Re: Where does the money go when stocks and bonds are in the red ?

Although some shares are actually entering (IPOs) and leaving (buyouts, share repurchases) the market in exchange for cash, this isn't most of the swings you're seeing. Rather, you are seeing the changing estimates of the value of the businesses represented by the shares. The market makes its judgem...
by dmcmahon
Fri Feb 26, 2016 12:31 am
Forum: Investing - Theory, News & General
Topic: personal savings rate vs the general population
Replies: 69
Views: 8918

Re: personal savings rate vs the general population

Throughout the rest of the article, he argues generally that the ratio of workers to retirees will remain the same and that the means of exchange will devalue to naturally enforce that ratio. I'm not sure I agree that the ratio needs to remain the same. He already admits that when social security f...
by dmcmahon
Fri Feb 26, 2016 12:23 am
Forum: Investing - Theory, News & General
Topic: How has market regulation changed since 2008 Financial Crisis?
Replies: 17
Views: 1103

Re: How has market regulation changed since 2008 Financial Crisis?

One more thought. There is a "heads I win, tails you lose" proposition at the heart of most financial institutions. All things being equal, the company that has the most leverage will have the highest return on investment for the investors. Unless the bank goes bust, where the diversified...
by dmcmahon
Mon Feb 01, 2016 9:12 pm
Forum: Investing - Theory, News & General
Topic: Arguments against small-caps
Replies: 10
Views: 1477

Re: Arguments against small-caps

One could argue they're (more) overvalued (than the general market) by most metrics.

Despite thinking this, I own the market weight via the total market ETF.
by dmcmahon
Sat Dec 05, 2015 7:22 pm
Forum: Investing - Theory, News & General
Topic: [Vanguard Federal Money Market Fund Reopened - MUST USE]
Replies: 77
Views: 6567

Re: Vanguad Brokerage settlements

...and this account will be exposed to fluctuating valuation... I have not seen that stated anywhere . This says: https://personal.vanguard.com/pdf/VGMMR.pdf ... U.S. government money market funds will be permitted to retain the stable $1.00 per share NAV and may be offered to institutional investo...
by dmcmahon
Sat Dec 05, 2015 3:41 pm
Forum: Investing - Theory, News & General
Topic: [Vanguard Federal Money Market Fund Reopened - MUST USE]
Replies: 77
Views: 6567

Vanguad Brokerage settlements

[Thread merged into here, see below. --admin LadyGeek] Well, so much for the new rule about floating-value MM funds only affecting institutions. I just got a letter from VBS and if I'm reading it right, I'll be required to use a new MM fund as the settlement account for any transactions, and this a...
by dmcmahon
Sun Nov 01, 2015 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: CRUT - need some help [Charitable Remainder UniTrust]
Replies: 2
Views: 408

Re: CRUT - need some help

I guess I'll have to re-read it. Re. the payout, 5% is required I believe. The less than lifetime term is so that the charitable donations will hopefully occur while I'm still around.
by dmcmahon
Sat Oct 31, 2015 10:41 am
Forum: Personal Finance (Not Investing)
Topic: CRUT - need some help [Charitable Remainder UniTrust]
Replies: 2
Views: 408

CRUT - need some help [Charitable Remainder UniTrust]

I set up a Charitable Remainder UniTrust (CRUT) in July of 2015. The trust is to run for 15 years, paying me 5% of the assets annually, with the balance going to various charities at the end of that term, or if I die before the 15 years are up. I decided to be my own trustee, and I'm looking for an ...
by dmcmahon
Sat Jul 25, 2015 2:07 pm
Forum: Investing - Theory, News & General
Topic: [Original Research] The Failure of PE Market Timing Models
Replies: 50
Views: 4049

Re: [Original Research] The Failure of PE Market Timing Models

What happens if you factor in taxes? From what I can see its very difficult to overcome the tax drag from the trading required.
by dmcmahon
Wed Jul 22, 2015 6:29 pm
Forum: Investing - Theory, News & General
Topic: Pros and cons of adding Roth Option to 401K Plan
Replies: 103
Views: 6906

Re: Pros and cons of adding Roth Option to 401K Plan

As an employee, the Roth 401k is of little benefit to me at the moment due to my tax situation. However, it's existence means that in retirement I'll be able to convert funds into a Roth without first moving them to an IRA, which is a plus. So the employees who'll benefit may be a larger group than ...
by dmcmahon
Tue Jul 21, 2015 9:46 pm
Forum: Investing - Theory, News & General
Topic: TIPS - Did you give up?
Replies: 169
Views: 19800

Re: TIPS - Did you give up?

All of mine are individual bonds with long dates. I still think inflation's inevitable and so they're a cheap hedge. I did refuse to buy them at negative yields, though. At present I'm no longer adding to my position until I have more space in tax deferred and the real yields are more attractive.
by dmcmahon
Wed Jun 24, 2015 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard ETF dividends?
Replies: 13
Views: 1658

Re: Vanguard ETF dividends?

Thanks. Um...what exactly is a "declaration date"?
by dmcmahon
Wed Jun 24, 2015 9:45 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard ETF dividends?
Replies: 13
Views: 1658

Vanguard ETF dividends?

Anyone know when they're supposed to be paid? I need to buy some shares but don't want to buy a distribution.
by dmcmahon
Tue Jun 16, 2015 10:03 pm
Forum: Forum Issues and Administration
Topic: Forum software upgrade bug reports and change requests
Replies: 254
Views: 33091

Re: Forum software upgrade bug reports and change requests

Woohoo! The forum looks "right" again on my iPad!
by dmcmahon
Tue May 12, 2015 11:08 pm
Forum: Forum Issues and Administration
Topic: What's new and changed in phpBB 3.1
Replies: 69
Views: 8444

Re: What's new and changed in phpBB 3.1

How do I change font size? I'm on an iPad as I write this, and the font size is a bit large, but on the home page it is unusable it's so large. Try holding the Apple key and - (Minus). Apple+ makes it larger if you go too far. Unless I'm missing it, there are no Apple (or Control) keys on the iPad ...
by dmcmahon
Wed May 06, 2015 9:42 pm
Forum: Forum Issues and Administration
Topic: UI issues (especially iPad)? please evaluate alternate styles
Replies: 41
Views: 5887

Re: UI issues (especially iPad)? please evaluate alternate styles

Thanks Gecko, this is exactly the issue - suddenly there is about half the information content visible on the pad's screen.

Fwiw the SE Square looks like the old format, of the choices on that demo site.
by dmcmahon
Wed May 06, 2015 3:06 pm
Forum: Forum Issues and Administration
Topic: UI issues (especially iPad)? please evaluate alternate styles
Replies: 41
Views: 5887

Re: UI issues (especially iPad)? please evaluate alternate styles

I'll check out the choices when I'm home and have access to the pad. Something definitely changed in the last week or two. I used to read the forum in landscape mode, and there were a lot more rows shown than I seem to see now. This is when looking at the board index or at a listing of topics within...
by dmcmahon
Tue May 05, 2015 7:55 pm
Forum: Forum Issues and Administration
Topic: Oh yuck, what just happened to the font?
Replies: 65
Views: 7628

Re: Oh yuck, what just happened to the font?

No obvious toolbar on the iPad
by dmcmahon
Tue May 05, 2015 7:16 pm
Forum: Forum Issues and Administration
Topic: Oh yuck, what just happened to the font?
Replies: 65
Views: 7628

Re: Oh yuck, what just happened to the font?

I still seem to have a problem. I use an iPad and on my device the forum pages suddenly look super sized, even though the font looks like a scaled up version of the one I think it's always used. Things seem to be 1.5 spaced as well. It's not easy to selectively clear the cache on the pad - you get a...
by dmcmahon
Sat Apr 11, 2015 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Limit on IRA contributions?
Replies: 2
Views: 282

Limit on IRA contributions?

My sister is a retired teacher and she may earn some modest amounts of money working as a substitute teacher. What limits apply to IRA contributions in this situation? As an example, supposed she earns $10,000.00, can she still contribute $5,500.00 + $1,000.00 to an IRA, or is there some lower limit...
by dmcmahon
Fri Mar 27, 2015 7:02 pm
Forum: Personal Consumer Issues
Topic: Tesla X
Replies: 160
Views: 19989

Re: Tesla X

You really want the gull wing doors?
by dmcmahon
Fri Mar 27, 2015 9:28 am
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 760
Views: 117712

Re: Tesla S

You see them everywhere here in Silicon Valley. Someone told me it's the #1 seller in Atherton (a well-heeled mid-peninsula suburb). No question the cars are sexy as hell, and incredible to drive (so I'm told) with amazing acceleration. My thoughts for what they're worth: 1. Having owned an electric...
by dmcmahon
Wed Mar 25, 2015 10:03 am
Forum: Personal Consumer Issues
Topic: Flash Drive Data Recovery
Replies: 5
Views: 812

Re: Flash Drive Data Recovery

When mine failed, it was still readable, just not writable. Unfortunately Windows insists on trying to write something to it whenever it's mounted. Fortunately Linux does not, so I was able to copy it off without losing anything.
by dmcmahon
Tue Mar 24, 2015 11:44 pm
Forum: Personal Consumer Issues
Topic: Car buying services - recommendations?
Replies: 14
Views: 2505

Car buying services - recommendations?

Any reason to prefer Costco vs AAA vs. ______? Any experiences using them to buy a new car, good or bad?
by dmcmahon
Tue Mar 24, 2015 11:43 pm
Forum: Personal Consumer Issues
Topic: Building a new house. Any recommendations?
Replies: 53
Views: 6965

Re: Building a new house. Any recommendations?

Wiring - it's hard to retrofit if you leave something out so get those cable runs everywhere you might conceivably want them, and make sure you have high-speed Ethernet wiring with a central closet or similar into which you can bring your broadband.
by dmcmahon
Sat Mar 21, 2015 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA vs ACA
Replies: 35
Views: 3046

Re: COBRA vs ACA

In early retirement, my ACA insurance has been better than excellent. The coverage is wonderful; networks are complete. Customer service is professional, friendly and helpful. My current ACA is superior to the both Cadillac plan I had as a corporate employee and the deluxe plan I later had as a pub...
by dmcmahon
Sat Mar 21, 2015 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Newly retired teacher - tax questions
Replies: 5
Views: 764

Newly retired teacher - tax questions

My sister recently retired after teaching for 30 years. I help prepare her tax return with TurboTax and 2015 is going to be a significant change from prior years. Question 1: are health insurance premiums deductible? Now that she's retired, she pays the county out of her modest pension to continue i...
by dmcmahon
Mon Mar 09, 2015 9:33 pm
Forum: Investing - Theory, News & General
Topic: If you could send an investment message 10 years in the past
Replies: 62
Views: 5691

Re: If you could send an investment message 10 years in the

If you received a message from yourself from the future, would you actually act on it?? I don't think I would. I would include a component that would ensure it came from me. It's not in my message but 140 characters is more than enough to append it. Since the only possible sender is me, and my past...
by dmcmahon
Mon Mar 09, 2015 8:29 pm
Forum: Investing - Theory, News & General
Topic: If you could send an investment message 10 years in the past
Replies: 62
Views: 5691

Re: If you could send an investment message 10 years in the

Put all your money into AAPL and hold until 2015

I would debate the notion that lottery tickets are an investment message.
by dmcmahon
Sun Mar 08, 2015 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Lowering Taxable Income
Replies: 18
Views: 2273

Re: Lowering Taxable Income

Leif wrote:If you are self employed you may be able to set up a pension plan (defined benefit) for yourself.


+1 maybe show this to the other docs in your practice:

http://www.forbes.com/sites/ashleaebeli ... t-savings/
by dmcmahon
Sat Mar 07, 2015 7:35 pm
Forum: Investing - Theory, News & General
Topic: Why is there more (real) money in the market?
Replies: 8
Views: 1370

Re: Why is there more (real) money in the market?

In a capitalist society, a disproportional share of the GDP goes to the capital owners. Search forum for previous discussions on this. I think you are on the wrong track here. What you say may be correct, but you'll see evidence of that in the ratio of corporate profits to GDP, currently at record ...
by dmcmahon
Wed Mar 04, 2015 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard becominng more assertive with boards WSJ
Replies: 9
Views: 2074

Re: Vanguard becominng more assertive with boards WSJ

This is good news and I'm happy to hear it. I'm sure John C. Bogle will be pleased so, as he's made his views plain on many occasions--was this in The Battle for the Soul of Capitalism ? Any step in this direction, even symbolic, will have a salutory effect. Vanguard has claimed that they have, in ...
by dmcmahon
Tue Mar 03, 2015 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-MISC causes schedule C in TurboTax
Replies: 1
Views: 441

1099-MISC causes schedule C in TurboTax

My last problem is a 1099-MISC I recieved for a promotional reward. I enter this in TT and lo and behold it insists on reporting this on schedule C as business or self employment income. Ugh. I've tried a few different variants but it seems TT is hard wired to treat all 1099-MISC income as schedule ...
by dmcmahon
Tue Mar 03, 2015 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

Sounds like the $25 is likely the comission you paid - should show up in the transaction statement. Cashless stock option sales usually end up as a loss on schedule D for the amount of the commission (what you made is already included as part of you income on your w2 - but the commission deduction ...
by dmcmahon
Tue Mar 03, 2015 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

Sounds like the $25 is likely the comission you paid - should show up in the transaction statement. Cashless stock option sales usually end up as a loss on schedule D for the amount of the commission (what you made is already included as part of you income on your w2 - but the commission deduction ...
by dmcmahon
Mon Mar 02, 2015 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

I think I clicked an "ESPP" checkbox then a box that said something like "manually enter the data (I have all the data)" or something to that effect. Deleted the transations and re-entered them, this time using step-by-step. I dug out form 3922 from two years to get the bits and...
by dmcmahon
Mon Mar 02, 2015 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

When you are done - Column “e” on form 8949 will have the adjusted amount from your 1099-B which is likely to be a larger cost basis. Thanks, I'll check this but I think this is where it's gone wrong. To do this in turbotax “Step-by-Step” mode you can click the checkbox “Add More Details” under eac...
by dmcmahon
Mon Mar 02, 2015 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

Initially, I took the path where I said I had all the info and would enter manually. It didn't end well. I had better luck when I followed the TT recommendation to walk me through it. I then gave it all the "variables" it asked for and it calculated the compensation and gain/loss, which I...
by dmcmahon
Mon Mar 02, 2015 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

How would I know if the ESPP ordinary income was included in my w2? I've never really understood this, so it is possible I have been double counting income this whole time. On my W2, I see a line item in one of the boxes that has a figure exactly the same as the compensation element calculated by h...
by dmcmahon
Sun Mar 01, 2015 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax ESPP sale woes - help!
Replies: 17
Views: 2209

Re: Turbotax ESPP sale woes - help!

I never use the ESPP feature of TT. I just treat it as a normal stock sale. I sell ESPP shares immediately; therefore, I don't have to think about the tax rules for qualified dispositions. I enter the 1099-B with the incorrect cost basis. I then put in an adjusted basis, so I don't get double taxed...

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