Search found 5246 matches

by jebmke
Fri Feb 24, 2017 5:07 pm
Forum: Personal Consumer Issues
Topic: critique Italian itinerary
Replies: 15
Views: 511

Re: critique Italian itinerary

for 8-9 days I would limit my stays to two at the maximum. Note - I'd be hard pressed to justify the wear and tear of flying there and back for only 8-9 days to begin with though.
by jebmke
Fri Feb 24, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Filing For Extension?
Replies: 8
Views: 189

Re: Filing For Extension?

I think the automatic extension of time to file is great. I don't know why people get frantic if they can't quite make the deadline. I had to delay filing until January of the following year once. The IRS approved a second extension. They are pretty reasonable if you have a compelling reason and yo...
by jebmke
Fri Feb 24, 2017 4:01 pm
Forum: Investing - Help with Personal Investments
Topic: saving IRA 5498 statements - which file folder
Replies: 8
Views: 221

Re: saving IRA 5498 statements - which file folder

In case I'm not here - at least all the paper trails still are... Just make sure you dump what you no longer need. My wife still curses her brother for never throwing anything out. Clearing out his apartment and finding things amidst all the irrelevant stuff was a lot of work. If I left the same fo...
by jebmke
Fri Feb 24, 2017 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: saving IRA 5498 statements - which file folder
Replies: 8
Views: 221

Re: saving IRA 5498 statements - which file folder

You have discovered one (of several) weaknesses of physical records. Objects can't appear to be in more than one place. Photocopiers were invented a long time ago. That would be two separate objects. More file space. More work when it comes time to clean up. I'm trying to get rid of crap. Why would...
by jebmke
Fri Feb 24, 2017 3:44 pm
Forum: Investing - Help with Personal Investments
Topic: saving IRA 5498 statements - which file folder
Replies: 8
Views: 221

Re: saving IRA 5498 statements - which file folder

You have discovered one (of several) weaknesses of physical records. Objects can't appear to be in more than one place.
by jebmke
Fri Feb 24, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Filing For Extension?
Replies: 8
Views: 189

Re: Filing For Extension?

I am uncertain that I can complete my taxes prior to APR for Tax year 2016. If I file for an extension and subsequently succeed in being able to file normally, can I go ahead and file normally, even though I filed for the extension? Also, I paid estimated tax in the amount of 2015 tax for the safe ...
by jebmke
Fri Feb 24, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: saving IRA 5498 statements - which file folder
Replies: 8
Views: 221

Re: saving IRA 5498 statements - which file folder

I keep mine in an IRA folder and put a link in my tax folder. I think there is a way to use libraries to have the file appear in multiple places in Windows.
by jebmke
Thu Feb 23, 2017 5:45 pm
Forum: Investing - Theory, News & General
Topic: Taking profits
Replies: 12
Views: 997

Re: Taking profits

ruahoo2 wrote:I want to just sell the profits without lowering my shares, is this possible?
no
by jebmke
Wed Feb 22, 2017 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: I didn't report 1099-G?
Replies: 15
Views: 940

Re: I didn't report 1099-G?

so it already included it as income, no need to manually enter the 1099G. (I know this is the case for TurboTax since it applies to me, it may be the case for other tax preparation software as well). So before you go and file a 1099X, check to see if the amount is already reported on your filed 109...
by jebmke
Wed Feb 22, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: I didn't report 1099-G?
Replies: 15
Views: 940

Re: I didn't report 1099-G?

and here is a handy calculator to determine how much is taxable.

http://cotaxaide.org/tools/Refund%20Calculator.html

Make sure you complete the lines for 5a AND 5b
by jebmke
Wed Feb 22, 2017 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Differences between TurboTax and H&R Block
Replies: 15
Views: 1324

Re: Differences between TurboTax and H&R Block

I switched from TurboTax to HRBlock precisely because TT was being "too helpful" (in an incorrect manner) with respect to education tax benefits. This is my general gripe about "interview mode" with most retail software. You can get a return, it may be technically accurate but n...
by jebmke
Wed Feb 22, 2017 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Differences between TurboTax and H&R Block
Replies: 15
Views: 1324

Re: Differences between TurboTax and H&R Block

I'm using HRBlock for the second time this year, and although usable, I do think TurboTax does a few things better. One is the foreign tax credit, and the other is downloading 1099s from Wells Fargo Advisors (HRBlock shows only Wells Fargo Mutual Funds as a download option). Kevin In my opinion, th...
by jebmke
Tue Feb 21, 2017 5:46 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 2149
Views: 583922

Re: What Book Are You Currently Reading? Part VI

Love the TV show and have also read the first two books in the series, found another couple of books randomly at book sales but waiting to read them in order. I have read them all. The Poet books (there are two, I think) are the best of the bunch as I recall. I like the series but struggle a bit wi...
by jebmke
Tue Feb 21, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax payments
Replies: 9
Views: 582

Re: Estimated tax payments

fantasytensai wrote:I have a related question. I calculated my expected withholdings and tax liabilities and I have determined exactly how short I will be for 2017. Can I just mail IRS a check for that amount before Q1 ends and be done with it?

Sure
by jebmke
Tue Feb 21, 2017 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax payments
Replies: 9
Views: 582

Re: Estimated tax payments

why not have the custodian withhold taxes?
by jebmke
Tue Feb 21, 2017 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: "High conviction investing"
Replies: 26
Views: 1337

Re: "High conviction investing"

ERMD wrote:Am I correct in assuming that "high conviction investing" is a thinly veiled euphamism for active management?

or Ponzi schemes :P
by jebmke
Mon Feb 20, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Amended Tax Return Help
Replies: 4
Views: 250

Re: Amended Tax Return Help

Filing amended returns isn't difficult. In many ways they are easier than doing an original return. I did two of them last weekend for taxpayers. I do suggest that you wait to file the amended return, one, to make sure that the original is processed through the IRS and two, in case there are other c...
by jebmke
Sun Feb 19, 2017 1:32 pm
Forum: Personal Consumer Issues
Topic: Wifi Router Advice
Replies: 34
Views: 2634

Re: Wifi Router Advice

I am using one of the Buffalo DD-WRT routers. It is the best router I ever have (Tried Linksys, Western Digital ...). It can go month to month without dropping and usually the router was triggered a reboot whenever my ISP caused a drop on its end. When that happens, my router reboots by itself. I u...
by jebmke
Sat Feb 18, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Pre and Post Tax 401K dollars comingled in IRA
Replies: 13
Views: 565

Re: Pre and Post Tax 401K dollars comingled in IRA

I'm no accountant but it would seem to me you made an honest mistake in not rolling the post tax 401k funds into a Roth separate from the tax deferred funds. It would seem to me that there would be a legal way to correct the mistake and roll those funds out without paying tax. After all it's not a ...
by jebmke
Sat Feb 18, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from HSA to pay for medical bills is as simple as they say?
Replies: 13
Views: 753

Re: Withdrawing from HSA to pay for medical bills is as simple as they say?

Could you give us a few details on what happened? Was there a large withdrawal? Or other circumstances? What documentation did you send (EOBs + receipts)? Not to pry but I am curious as to what the IRS is looking for. They didn't explain what they were looking for. They may have just pulled my retu...
by jebmke
Sat Feb 18, 2017 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: HSA Receipts
Replies: 8
Views: 689

Re: HSA Receipts

My understanding is that you need to keep them in case of audit. Only if your use them to reimburse yourself from the HSA. I find that the small ones are either pharmacy receipts or doctor copays. My pharmacy provides an annual summary (I get it online) so I don't keep the receipts and use the annu...
by jebmke
Fri Feb 17, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from HSA to pay for medical bills is as simple as they say?
Replies: 13
Views: 753

Re: Withdrawing from HSA to pay for medical bills is as simple as they say?

Hi all, I have been researching how to withdraw funds from HSA to pay for medical expenses. From my research (and from what others have been telling me), this is as simple as transferring X dollars from your HSA account to a bank account, and be prepared to have receipts/invoices for medical servic...
by jebmke
Fri Feb 17, 2017 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: RMDs
Replies: 7
Views: 629

Re: RMDs

I am not yet taking RMDs, but it is my understanding that the RMD that you take in 2017 is calculated from your December 21, 2016 balance. So why are you concerned about a future dividend distribution? Also, when the distributions are made, the NAV of the fund shares drops proportionally -- it isn'...
by jebmke
Fri Feb 17, 2017 4:36 pm
Forum: Personal Consumer Issues
Topic: The russians are hacking me
Replies: 35
Views: 4957

Re: The russians are hacking me

Phineas J. Whoopee wrote:Wouldn't that be the Georgians, or more particularly, somebody in Tbilisi, Georgia?
PJW

Geography is a lost art.
by jebmke
Fri Feb 17, 2017 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from HSA to pay for medical bills is as simple as they say?
Replies: 13
Views: 753

Re: Withdrawing from HSA to pay for medical bills is as simple as they say?

fantasytensai wrote:Thanks for the help guys! It just boggles the mind that the IRS would make saving money simple...:P

This is no different than withdrawing money from an IRA. Just transfer it from one account to another.
by jebmke
Fri Feb 17, 2017 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Large capital gain in 2017 from estate, set money aside in CD now?
Replies: 9
Views: 693

Re: Large capital gain in 2017 from estate, set money aside in CD now?

I'm not sure where you got the idea that you won't need to make estimated taxes on the capital gain. Obviously you can't make a payment in the 1st quarter for some as-yet-unknown gain later in the year, but you will be expected to make an estimated payment for the quarter in which you have the gain...
by jebmke
Thu Feb 16, 2017 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: HR Block desktop software not doing foreign tax credit correctly
Replies: 5
Views: 354

Re: HR Block desktop software not doing foreign tax credit correctly

You have to go to the credits section and walk through step by step and fill the form out in the form view. I just did it yesterday. If you have less than $20,000 of foreign sourced income it should be pretty simple but I recommend reading the Form 1116 instructions which you can find on the IRS web...
by jebmke
Wed Feb 15, 2017 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Never-Ending Foreign Tax Credit Problem
Replies: 33
Views: 2389

Re: Never-Ending Foreign Tax Credit Problem

The generalized version of this is

livesoft wrote:But it doesn't hurt to read ..... the instructions
by jebmke
Wed Feb 15, 2017 9:14 am
Forum: Investing - Help with Personal Investments
Topic: Never-Ending Foreign Tax Credit Problem
Replies: 33
Views: 2389

Re: Never-Ending Foreign Tax Credit Problem

Now it is true that if one has more than $20,000 in foreign qualified dividend income, then it gets trickier. Trickier but not impossible. If one carefully follows the instructions for F1116, one can get to the right answer. It might be a little tedious but if you start at the end of February after...
by jebmke
Wed Feb 15, 2017 8:58 am
Forum: Investing - Help with Personal Investments
Topic: Never-Ending Foreign Tax Credit Problem
Replies: 33
Views: 2389

Re: Never-Ending Foreign Tax Credit Problem

The allowable foreign tax credit is only for the percentage of foreign income to total worldwide income. For example, if I have foreign income from my VG fund of $1000 and $10,000 in total income from my VG funds (the other $9000 from the US), that means only 10% (1000/10,000)of the foreign tax cre...
by jebmke
Wed Feb 15, 2017 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Tax document with amount in box 1d
Replies: 8
Views: 361

Re: Tax document with amount in box 1d

I am not familiar with Turbotax. There should be a section for entering capital gains and losses. These transactions normally go on Form 8949 (proceeds and cost basis). Most retail tax software has an interview mode for income that asks about sale of assets such as stocks and bonds. That's where I'd...
by jebmke
Wed Feb 15, 2017 1:01 am
Forum: Personal Finance (Not Investing)
Topic: Tax and Investment questions for recently married couple
Replies: 5
Views: 369

Re: Tax and Investment questions for recently married couple

Can we file jointly if we weren't married until January 2017? How do you determine if it's best to file jointly or separately? I've always used a CPA since my taxes are a little more difficult and she's always just used turbotax. For 2016 you must each file separately. Filing status would most like...
by jebmke
Tue Feb 14, 2017 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement
Replies: 21
Views: 2590

Re: Early Retirement

Don't assume that the medical benefits are a sure thing.
by jebmke
Tue Feb 14, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Short Term Capital Losses
Replies: 16
Views: 406

Re: Short Term Capital Losses

Your understanding was not correct. If you follow the arithmetic on Schedule D it should be clear.
by jebmke
Tue Feb 14, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken 2017 Deluxe - Amazon Price ($35) vs. Quicken ($65)
Replies: 4
Views: 327

Re: Quicken 2017 Deluxe - Amazon Price ($35) vs. Quicken ($65)

What edition are you using now? I am still using 2012 and it works fine.

I have bought my tax software from Amazon for the last two years. My 2012 Quicken was purchased from Amazon and I just re-downloaded it to install on a new computer in January.
by jebmke
Tue Feb 14, 2017 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth - tax reporting question - no 1099-R?
Replies: 6
Views: 277

Re: Mega Backdoor Roth - tax reporting question - no 1099-R?

When you call back, try to get them to route you to an IRA specialist. Often the first line CS people don't have deep knowledge on IRAs, especially the tax side. I have successfully done this with Fidelity and VG to get information on tax reporting.
by jebmke
Tue Feb 14, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Prep Software Getting Roth Conversion Worksheet Wrong
Replies: 19
Views: 953

Re: Tax Prep Software Getting Roth Conversion Worksheet Wrong

This is something to pay attention to if you review or reenter the 1099s. Somewhere it should ask if it's inherited. The only indication on the 1099R should be that the inherited IRA is titled "IRA of Jane Doe, (deceased) For benefit of John Roe" or similar. The software probably can't pa...
by jebmke
Tue Feb 14, 2017 8:36 am
Forum: Investing - Theory, News & General
Topic: Vanguard 1099s available - Other companies just as good for sending 1099s???
Replies: 63
Views: 5425

Re: Vanguard 1099s available - Other companies just as good for sending 1099s???

Does the 1099 consolidated form from Vanguard include the information on the 1099-DIV forms that were released last month? Or are both forms still needed to prepare taxes? They should be separate. But you will know for sure when you reconcile all your tax statements to your December 31 financial st...
by jebmke
Mon Feb 13, 2017 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Health Care Premium and Costs During Retirement (65+)
Replies: 20
Views: 1174

Re: Health Care Premium and Costs During Retirement (65+)

elaborate on when and why significantly more expensive choices in cataract surgery are indicated? I had severe astigmatism which could only be corrected with an upgraded (toric) lens and laser surgery. Insurance (and medicare I think) only covers what is medically necessary - replacing the clouded ...
by jebmke
Mon Feb 13, 2017 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Health Care Premium and Costs During Retirement (65+)
Replies: 20
Views: 1174

Re: Health Care Premium and Costs During Retirement (65+)

As I noted above, my wife changed to an Advantage plan in 2016. That also saved over $2000 in our medical costs last year. Our total medical costs including all insurance in 2016 was $7,866. We did not have any major expenses last year luckily. Important to note that you can rack up some significan...
by jebmke
Mon Feb 13, 2017 3:57 pm
Forum: Investing - Help with Personal Investments
Topic: Health Care Premium and Costs During Retirement (65+)
Replies: 20
Views: 1174

Re: Health Care Premium and Costs During Retirement (65+)

Does Medicare and a supplement plan usually cost less than typical health insurance as carried by a person less than 65 years old? Some employers who pay a portion towards health insurance for pre Medicare age retirees will subsidize their Medicare retirees into a "Medicare +" plan Except...
by jebmke
Mon Feb 13, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: IRS forms for 2017, when available ?
Replies: 4
Views: 312

Re: IRS forms for 2017, when available ?

susa wrote:Need immediately today the 2017 version of Form 941

has not been released yet. Last year released on 2/11 so should be out soon I would guess. Maybe today.
by jebmke
Mon Feb 13, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: When to Convert T-IRA to Roth and Pay Estimated Tax?
Replies: 8
Views: 494

Re: When to Convert T-IRA to Roth and Pay Estimated Tax?

Yes, 2210 is the form to handle irregular income and payments.
by jebmke
Mon Feb 13, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: IRS forms for 2017, when available ?
Replies: 4
Views: 312

Re: IRS forms for 2017, when available ?

susa wrote:Read this list but can not find final versions for 2017 - when does IRS issue final updates ?

https://apps.irs.gov/app/picklist/list/ ... Forms.html

Many 2017 forms won't be finalized until late December 2017 or January 2018.
by jebmke
Mon Feb 13, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: When to Convert T-IRA to Roth and Pay Estimated Tax?
Replies: 8
Views: 494

Re: When to Convert T-IRA to Roth and Pay Estimated Tax?

I pay quarterly in even amounts based on a conversion which I plan to do in December. When I get to December, I true it up.

I just lied. I actually follow the safe harbor rule. This ends up being mechanically the same as above.
by jebmke
Mon Feb 13, 2017 8:50 am
Forum: Personal Consumer Issues
Topic: Munich,Germany- advice on things to not miss
Replies: 34
Views: 1499

Re: Munich,Germany- advise on things to not miss

I took a side trip once out of Munich to Kloster Andechs. It is accessible by S-bahn, followed by a 15-20 min. hike uphill. It is a monastery which, like other monasteries in Bavaria, has it's own brewery and beer garden, where you can sit outside and enjoy a nice lunch with a view of the Alps off ...
by jebmke
Sun Feb 12, 2017 9:06 pm
Forum: Investing - Help with Personal Investments
Topic: Home Stretch – Withdrawal Strategy & Taxes
Replies: 5
Views: 725

Re: Home Stretch – Withdrawal Strategy & Taxes

I am trying to roughly achieve an after-tax annual spendable income that is not shifting significantly from year-to-year. Perhaps others just don't look at the problem this way? This assumes that your expenses will be level. I have found that not to be the case, even excluding the lumpiness of taxe...
by jebmke
Sun Feb 12, 2017 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: Home Stretch – Withdrawal Strategy & Taxes
Replies: 5
Views: 725

Re: Home Stretch – Withdrawal Strategy & Taxes

I focus mainly on cash flow and asset value. I treat taxes as a manageable expense just like other expenses. Expenses bounce around based on what we spend. I don't really try to level anything out. During the recession we actually increased our spending because prices were low for things like home i...
by jebmke
Sun Feb 12, 2017 1:02 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes - filing
Replies: 1
Views: 200

Re: Taxes - filing

I switched to HRBlock last year and was able to do all the forms for a rental property with no problem.
by jebmke
Sun Feb 12, 2017 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Late father appears not to have taken RMDs
Replies: 34
Views: 3762

Re: Late father appears not to have taken RMDs

I have submitted multiple waiver requests with form 5329 - one for my spouse and several for taxpayers at TaxAide. I have also discussed this with a former agent who works with us at TaxAide. He said normally what the IRS looks for is a reasonable explanation that demonstrates that the omission was ...

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