Search found 162 matches

by jtelwood
Sat Feb 24, 2018 2:43 am
Forum: Personal Finance (Not Investing)
Topic: Determining the cost basis for a home
Replies: 2
Views: 335

Determining the cost basis for a home

I purchased an older home in 1985 for $145,000. My intention was to rent the older home until the note was paid in full, then demolish the home and build a new house, which I did in 1992. The cost to build the new house was $275,000. Assuming the new house was rented but not depreciated and no impro...
by jtelwood
Thu Feb 22, 2018 12:01 am
Forum: Investing - Help with Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 3662

Re: Bond fund in a ROTH

Thanks for the clarification.
by jtelwood
Wed Feb 21, 2018 12:39 am
Forum: Investing - Help with Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 3662

Re: Bond fund in a ROTH

I would like some clarification on a point made in an earlier post/reply. A paragraph from that post is below. ' View everything as one portfolio. You rebalance so that your portfolio risk level matches your risk tolerance. But if the market crashes, it only matters how much you lose after tax. It d...
by jtelwood
Mon Feb 05, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 955

Re: IRS form 8606

thanks.
by jtelwood
Mon Feb 05, 2018 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 955

Re: IRS form 8606

Thanks.
by jtelwood
Tue Jan 23, 2018 2:28 am
Forum: Investing - Help with Personal Investments
Topic: Asset allocation and ROTH accounts
Replies: 2
Views: 303

Re: Asset allocation and ROTH accounts

If I needed to withdraw money from a ROTH and the stock market was down, I would withdraw from the bond fund.
by jtelwood
Tue Jan 23, 2018 12:20 am
Forum: Investing - Help with Personal Investments
Topic: Asset allocation and ROTH accounts
Replies: 2
Views: 303

Asset allocation and ROTH accounts

My portfolio consists of 2 stock funds (total stock market index and total international stock index) and several VG bond funds. I have both traditional and roth ira's as well as a small taxable stock fund in the portfolio. The asset allocation for the entire portfolio is 50/50. The total internatio...
by jtelwood
Thu Jan 18, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 955

IRS form 8606

Does anyone know when the IRS will provide the 2017 form 8606?

Tks
jte
by jtelwood
Tue Dec 19, 2017 3:43 pm
Forum: Investing - Theory, News & General
Topic: Back door ROTH
Replies: 2
Views: 560

Back door ROTH

Does the new tax legislaion repeal or alter the back door ROTH? The only information that I have seen about ROTH IRAs is repealing the recharacterization policy. Appreciate any information.

jte
by jtelwood
Fri Nov 17, 2017 1:51 am
Forum: Investing - Help with Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 3662

Re: Bond fund in a ROTH

Thanks to everyone who took time to respond. I retired about 10 years ago. My wife retired in May of this year but concluded it was too early for her and accepted employment in Daegu, Korea. We arrived here 3 weeks ago. Now that she has reentered the work force, she will be able to contribute to an ...
by jtelwood
Thu Nov 16, 2017 5:20 am
Forum: Investing - Help with Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 3662

Bond fund in a ROTH

Are there situations when it makes sense to hold a bond fund in a ROTH IRA?
Appreciate any thoughts.

jte
by jtelwood
Thu Jul 13, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: income taxes in Guam
Replies: 4
Views: 759

Re: income taxes in Guam

Es tut mir leid, dass f├╝r meinen Fehler.
jte
by jtelwood
Thu Jul 13, 2017 5:52 am
Forum: Personal Finance (Not Investing)
Topic: income taxes in Guam
Replies: 4
Views: 759

Re: income taxes in Guam

Thanks for taking the time to respond. The information that I was able to find on a Guam tax site is very similiar to what you provided. That site talked about adopting the US tax code, property taxes, sales taxes, etc. but nothing about a local (ie. state equivalent income tax) income tax so I conc...
by jtelwood
Tue Jul 11, 2017 7:08 am
Forum: Personal Finance (Not Investing)
Topic: income taxes in Guam
Replies: 4
Views: 759

income taxes in Guam

Good morning, My wife has accepted employment in Guam. She is a federal government employee (FERS). My understanding is that the territory of Guam has adopted the US Federal tax code. My question pertains to income tax at the local level, ie. state level. I have been unable to find any information a...
by jtelwood
Sat Apr 08, 2017 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1275

Re: Help for my nephew

Thanks for the responses.
by jtelwood
Sat Apr 08, 2017 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1275

Re: Help for my nephew

For flamesabers - yes, he is the sole beneficiary.
by jtelwood
Fri Apr 07, 2017 4:12 pm
Forum: Investing - Help with Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1275

Help for my nephew

Some background. My nephew is a single, 24 year old Lt in the Army and will be receiving a small inheritance in the very near future - about 30K from a ROTH IRA and 2.5K from a traditional IRA. He does not need the money now and would like to invest it for his retirement. It's my understanding that ...
by jtelwood
Fri Dec 30, 2016 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: social security question
Replies: 2
Views: 1063

Re: social security question

Thanks for your reply. I'm not sure I understand your last 2 sentences. Her birthday is June 29, 1950, so 66 is her full retirement age. According to the SS site provided in your reply, she can earn any amount and not her her SS reduced. Also not clear about the requirement to notify SS if she retur...
by jtelwood
Thu Dec 29, 2016 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: social security question
Replies: 2
Views: 1063

social security question

My wife retired earlier this year and decided to wait until 70 to take social security. I retired about 10 years ago and decided to take my social security early since it was such a small amount (windfall elimination provision). She filed a restricted application for a spousal benefit when she turne...
by jtelwood
Thu Jul 28, 2016 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security
Replies: 2
Views: 777

Re: Social Security

Thanks much for the information.

jte
by jtelwood
Tue Jul 26, 2016 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Social Security
Replies: 2
Views: 777

Social Security

Background. My wife is 66 and has decided to delay taking Social Security until she is 70 years old. She recently retired from the federal government and has a FERS retirement pension. Prior to working with the federal government she was employed in West Berlin, Germany in the 1980s and she was paid...
by jtelwood
Thu Mar 17, 2016 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Social Security [Filing strategy]
Replies: 2
Views: 792

Social Security [Filing strategy]

I'm following up an earlier post on filing a restricted application for spousal benefits. I want to be sure that any recent changes with social security have not changed the guidance provided earlier. Background. I will be 70 in a few months. My wife will be 66 in a couple of months. I am a CSRS ret...
by jtelwood
Sat Feb 13, 2016 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Bonds
Replies: 5
Views: 983

Re: Bonds

Thanks Saltycaper. I appreciate you taking the time to respond.
by jtelwood
Thu Feb 11, 2016 11:45 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds
Replies: 5
Views: 983

Re: Bonds

I dom't think my post was clear. I'm interested in hearing a discussion about whether I should be concerned about the risk of default that exists with the intermediate term investment grade bond fund, given the uncertainty of today's economic climate. I think exchanging this fund for the total bond ...
by jtelwood
Thu Feb 11, 2016 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds
Replies: 5
Views: 983

Bonds

The VG short term investment grade and VG intermediate term investment grade bond funds comprise about 60% my bond portfolio. The remainder is in series I and EE bonds, VG international bond fund, and the TSP G fund. To the extent practical, I want to minimize the risk to principal and am considerin...
by jtelwood
Thu Feb 11, 2016 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 58660

Re: Changes to Social Security

Thanks much W
by jtelwood
Thu Feb 11, 2016 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 58660

Re: Changes to Social Security

Thanks Mike. My wife needs to wait until she is 66 before filing - correct?
by jtelwood
Thu Feb 11, 2016 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 58660

Re: Changes to Social Security

My eyes begin to glaze over when I read about the various situations or possibilities. Our situation is below. I'm retired and will be 70 in a few months. I began drawing SS several years ago. I'm a CSRS retiree but do get a small monthly check, about $325 (I think the WEP takes about 2/3 which is u...
by jtelwood
Fri Jul 31, 2015 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Social security
Replies: 7
Views: 855

Social security

If I retire at 66, my full retirement age, and want to delay taking social security until 70, can i just wait until I'm 70 and then file; or must I convey my desire to wait (to the Social security administration)? The link below seems to imply that the government can force me to take the benefit bef...
by jtelwood
Sun Jun 07, 2015 10:25 am
Forum: Investing - Theory, News & General
Topic: Rebalancing
Replies: 41
Views: 5105

Rebalancing

While waiting to see the doctor, I read an article in the March edition of Money Magazine titled - Can you really beat the market. It was written by Campbell Harvey, a finance professor at Duke. He was asked a series of questions about the value of rebalancing. He did not support the concept, partic...
by jtelwood
Wed Feb 18, 2015 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Selling gold bars
Replies: 4
Views: 725

Re: Selling gold bars

Ops.

My son did not tell me he had posted the question on the forum.

Regret the inconvenience.

jte
by jtelwood
Wed Feb 18, 2015 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Selling gold bars
Replies: 4
Views: 725

Selling gold bars

My son's wife inherited some gold bars when her mother passed and they would like to sell them. I'm hoping that someone on the forum has experience or knowledge on how they should proceed and could outline the process - - I assume the first step would be to determine the value. Question - what is th...
by jtelwood
Sat Jan 31, 2015 12:43 am
Forum: Personal Finance (Not Investing)
Topic: tax question
Replies: 4
Views: 654

Re: tax question

Thanks for taking the time to provide a clear explanation. NC made major changes to the tax code for 2014. Prior to that, those who took the standard deduction could claim a tax credit for charitable contributions. I use a donor-advised fund to make charitable contributions and NC took issue with th...
by jtelwood
Fri Jan 30, 2015 11:06 am
Forum: Personal Finance (Not Investing)
Topic: tax question
Replies: 4
Views: 654

tax question

I am a NC resident and took the standard deduction on both my federal and state returns. The state held my refund for several months until I provided proof for my charitable giving. The matter was resolved favorably and my refund from the state included a small amount of interest. I received a form ...
by jtelwood
Thu Jan 08, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: new depreciation and amortization rules for rental property
Replies: 7
Views: 1596

Re: new depreciation and amortization rules for rental prope

Thanks Ned. I really appreciate you taking the time to respond.
by jtelwood
Thu Jan 08, 2015 12:11 am
Forum: Personal Finance (Not Investing)
Topic: new depreciation and amortization rules for rental property
Replies: 7
Views: 1596

Re: new depreciation and amortization rules for rental prope

Thanks for the information. After looking at the material, I intend to follow your recommendation and find a qualified tax preparer. I'm anticipating having difficulty finding one in Germany and wonder if this is something that can be done long distance. Any thoughts on this and where I might locate...
by jtelwood
Wed Jan 07, 2015 10:31 am
Forum: Personal Finance (Not Investing)
Topic: new depreciation and amortization rules for rental property
Replies: 7
Views: 1596

new depreciation and amortization rules for rental property

I have a vacation rental property. The IRS is apparently changing the depreciation and amortization method/rules for rental real estate. Prior to 2014, I completed a schedule E (form 1040) and form 4562 (depreciation and amortization). I have seen little information regarding the change for 2014 oth...
by jtelwood
Sun Jan 04, 2015 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: book for young savers
Replies: 5
Views: 1522

Re: book for young savers

Thanks Laura. He can use some of the concepts in the article now and introduce others as the kids get older.
by jtelwood
Thu Jan 01, 2015 11:41 am
Forum: Personal Finance (Not Investing)
Topic: book for young savers
Replies: 5
Views: 1522

Re: book for young savers

Thanks much. I'll pass the web site to him.
by jtelwood
Thu Jan 01, 2015 10:30 am
Forum: Personal Finance (Not Investing)
Topic: book for young savers
Replies: 5
Views: 1522

book for young savers

My son in law wants to begin teaching his 7 year old daughter money management skills, ie. budgeting, saving, investing, etc. Can anyone recommend a good book for him to use as a guide.

Thanks much.

jte
by jtelwood
Mon Mar 24, 2014 7:20 am
Forum: Investing - Help with Personal Investments
Topic: ROTH 401K
Replies: 5
Views: 646

Re: ROTH 401K

Thanks for your reply.

Do you know the IRS reasoning for treating the ROTH 401K differently from the ROTH IRA - ie. requiring the RMD for a ROTH 401K account if it remains a 401K account, but not for a ROTH IRA?
by jtelwood
Mon Mar 24, 2014 12:23 am
Forum: Investing - Help with Personal Investments
Topic: ROTH 401K
Replies: 5
Views: 646

ROTH 401K

I read an article that said one had to take the RMD at the age of 70 1/2 from a ROTH 401K. Is this correct - and if so, what makes the ROTH 401K different from the ROTH IRA vis-a-vis the RMD?

jte
by jtelwood
Sat Mar 01, 2014 10:16 am
Forum: Personal Finance (Not Investing)
Topic: [how to give share of house received in will to siblings]
Replies: 5
Views: 675

Re: legal document

Your assistance was greatly appreciated.

jte
by jtelwood
Fri Feb 28, 2014 10:09 am
Forum: Personal Finance (Not Investing)
Topic: [how to give share of house received in will to siblings]
Replies: 5
Views: 675

[how to give share of house received in will to siblings]

My son's wife and her 2 siblings are named co-beneficiaries on her mother's will. The remaining asset is her mother's house. There is some disagreement about whether to sell or rent the house. To avoid a family squabble, my son's wife would like to give her part of the house to her brother and siste...
by jtelwood
Thu Feb 13, 2014 10:32 am
Forum: Investing - Theory, News & General
Topic: Sensitivity to interest rate movements
Replies: 4
Views: 507

Sensitivity to interest rate movements

I see numerous articles that state a mutual fund holding Treasuries is more sensitive to an increase in interest rates than other bond funds of similar duration. What is the reason for this difference in sensitivity?

Tks. jte
by jtelwood
Fri Jan 31, 2014 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Noth Carolina state tax question
Replies: 4
Views: 372

Re: Noth Carolina state tax question

The question pertained to a tax credit that was missed in a previous year and carried forward. I could see a couple of ways to do it but since the instructions did not address this point, I wanted to get it right the first time . I have been able to contact a representative from the NCDOR since my e...
by jtelwood
Fri Jan 31, 2014 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Noth Carolina state tax question
Replies: 4
Views: 372

Noth Carolina state tax question

Before I post the question, does anyone on the forum have expertise with the North Carolina individual income tax system?

jte
by jtelwood
Wed Jan 29, 2014 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: tax question [1040 schedule E and 8582]
Replies: 5
Views: 931

Re: tax question

Thanks again. Your help was greatly appreciated.
by jtelwood
Wed Jan 29, 2014 9:59 am
Forum: Personal Finance (Not Investing)
Topic: tax question [1040 schedule E and 8582]
Replies: 5
Views: 931

Re: tax question

Thanks for the information.

Just to clarify, if I have only one rental property and take that out of service permanently (and have no other source for any passive income), then I would NOT be able to carry forward any unallowed loses from prior years -correct?
by jtelwood
Wed Jan 29, 2014 7:54 am
Forum: Personal Finance (Not Investing)
Topic: tax question [1040 schedule E and 8582]
Replies: 5
Views: 931

tax question [1040 schedule E and 8582]

RE: Forms - 1040 schedule E and 8582 (Passive Activity Loss Limitations) If one stops renting a property before all Unallowed losses on form 8582 can be taken, can these losses be taken in subsequent years when the property is not rented; or are they gone forever? I think the answer is obvious, but ...