Search found 4049 matches

by kaneohe
Thu Apr 27, 2017 7:46 pm
Forum: Investing - Help with Personal Investments
Topic: long term loss with postive 3,5 yr returns ??
Replies: 5
Views: 474

Re: long term loss with postive 3,5 yr returns ??

Since it sounds like you want to change some of these funds anyway, is this a TLH opportunity in disguise?
by kaneohe
Thu Apr 27, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: IRA rollover into 401k
Replies: 24
Views: 353

Re: IRA rollover into 401k

.......................... If I do this I would be forced to realize capital gains on the sale of the bonds. Does this make sense? Why can't I simply roll the pre-tax dollars in the trad IRA into pre-tax dollars in the 401k and keep the same stock/bond allocation and avoid the capital gains? Don't ...
by kaneohe
Thu Apr 27, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: IRA rollover into 401k
Replies: 24
Views: 353

Re: IRA rollover into 401k

I don't know why the advisor is telling you that . Did you ask why? Is it possible there are no bonds in the 401K......seems unlikely.
In any case , you would not realize any capitals gains since the funds are within the IRA so no taxable consequences.
by kaneohe
Wed Apr 26, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Estimated tax payment posting
Replies: 7
Views: 399

Re: Estimated tax payment posting

Jackbnimble wrote:......................... Or you can wring your hands for 3-4 weeks every quarter hoping the USPS does their job. :D


don't forget that OP is getting paid for hand wringing............maybe as much as $8 for 10K check :happy
by kaneohe
Wed Apr 26, 2017 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Estimated tax payment posting
Replies: 7
Views: 399

Re: Estimated tax payment posting

Within a week........mailed regular mail 4/17 and check cleared by 4/21. On the other hand state return and check sent certified mail 4/12, got to suburb of Tax Board by 4/13 , hung out somewhere until 4/19 when it was received by Tax Board and check cleared 4/25. Don't know if it hung around the 2n...
by kaneohe
Mon Apr 24, 2017 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: typical deductions for retirees
Replies: 27
Views: 2244

Re: typical deductions for retirees

Note that Qualified Charitable Distribuutions (QCDs) after age 70.5 cannot be use as tax deductions. They are already getting tax preference by not being considered as part of your income. (This will be flagged by the custodian by the "code" on the 1099-R so your tax software won't add it...
by kaneohe
Mon Apr 24, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: typical deductions for retirees
Replies: 27
Views: 2244

Re: typical deductions for retirees

................................................] Note that Qualified Charitable Distribuutions (QCDs) after age 70.5 cannot be use as tax deductions. They are already getting tax preference by not being considered as part of your income. (This will be flagged by the custodian by the "code&quo...
by kaneohe
Sat Apr 22, 2017 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: TLH question please. Doing my taxes.
Replies: 10
Views: 853

Re: Re:UPDATE. TLH question please. Doing my taxes.

............................. But about that 2.5K carryover for next year.... -.................................................... -Are carryovers first applied toward capital gains again or only ordinary income going forward? Thanks again! Check out Sch D https://www.irs.gov/pub/irs-pdf/f1040sd.p...
by kaneohe
Sat Apr 22, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: RMD for 2017?
Replies: 13
Views: 1239

Re: RMD for 2017?

jebmke wrote:I don't think the tables change from year to year, do they?


No, they don't. Just the user's age,so just use the next line now each yr.
by kaneohe
Wed Apr 19, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Does AMT erode value of suspended passive losses?
Replies: 5
Views: 534

Re: Does AMT erode value of suspended passive losses?

19 Passive activities (difference between AMT and regular tax income or loss) . Line 19 F6251 as shown above is not the passive income but the difference between AMT and regular income (for the passive activity). Do you know that they are different for regular income and AMT? The instructions for li...
by kaneohe
Tue Apr 18, 2017 7:13 pm
Forum: Investing - Help with Personal Investments
Topic: TaxAct not calculating capital gain harvesting properly?
Replies: 28
Views: 1669

Re: TaxAct not calculating capital gain harvesting properly?

Unless I have a severe misunderstanding of the way taxes are calculated you do see an increase of your 'regular' taxes anytime there are LT capital gains - they always get added to your taxable income. What you don't pay is the capital gains tax on top of that as long as you're in the 15% bracket. ...
by kaneohe
Mon Apr 17, 2017 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Determine Cost Basis (when 1 JT TEN dies)
Replies: 5
Views: 476

Re: Determine Cost Basis (when 1 JT TEN dies)

runner9 wrote:.....................$5.89 a share for X shares, but have no idea how many shares they owned in 2009.


If you know # shares today, you should be able to back-calculate that number by knowing the dividends/stock price each quarter and taking the split into account.
by kaneohe
Sun Apr 16, 2017 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Entering cost basis for non-covered 1099 entry
Replies: 1
Views: 153

Re: Entering cost basis for non-covered 1099 entry

from 8949 instructions for col e) :

Enter the correct basis of the property
in column (e) if:
No basis is shown on Form 1099-B (or
substitute statement), or
The basis shown wasn't reported to the
IRS.

know nothing about TT but this seems reasonable to me.
by kaneohe
Sun Apr 16, 2017 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Determine Cost Basis (when 1 JT TEN dies)
Replies: 5
Views: 476

Re: Determine Cost Basis (when 1 JT TEN dies)

Fair Market Value per share? I know the stock had a 2 for 1 split on 2/17/17 and is currently trading at $37.17. There have been dividends reinvested the whole time. Do I call, or have her call, and ask? Is there a way to figure this out on our own? As she'd "lost" this account for many y...
by kaneohe
Sun Apr 16, 2017 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: Can you rollover a Traditional IRA into a 401k if some of the funds were non-deductible?
Replies: 25
Views: 1366

Re: Can you rollover a Traditional IRA into a 401k if some of the funds were non-deductible?

........................... What's the best way to find an expert with solid advice on this? I talked to a CPA a while back, but I don't think they even knew the specifics of this kind of thing. And it seems like it's going to be hard to find someone this time of year to ask. You can hang here and ...
by kaneohe
Sun Apr 16, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6918

Re: Physician using Turbotax, owing 30K so far already...

Regarding the W4, I used to know what my tax would be before the tax year started and would put 99 allowances (to set my withholding to 0) PLUS an extra 1/12 of my calculated tax to be withheld each month. Yep, my withheld taxes ended up being within $100 of our liability. Then about 15 years ago t...
by kaneohe
Sat Apr 15, 2017 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes -Filing an Extension for Mother
Replies: 2
Views: 275

Re: Taxes -Filing an Extension for Mother

All you can do is a best guess. Sounds like IRS is willing to be fair in judging for these circumstances. https://www.irs.gov/businesses/small-businesses-self-employed/penalty-relief-due-to-reasonable-cause No way to get access to old tax returns or tax documents for 2016? Typically tax returns for ...
by kaneohe
Sat Apr 15, 2017 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: any tax benefit on paying parents for child care?
Replies: 5
Views: 393

Re: any tax benefit on paying parents for child care?

Don't forget Social Security and Medicare taxes would then have to be paid for them... gets complicated. Check out posts on nanny taxes. In many cases, no SS/Medicare taxes are due when paying parent. https://www.irs.gov/publications/p926/ar02.html#en_US_2017_publink100086735 Wages not counted. Don...
by kaneohe
Sat Apr 15, 2017 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Power of Attorney Question.....
Replies: 2
Views: 291

Re: Power of Attorney Question.....

[quote="Broken Man 1999"].............................................. Is this possible? For what it is worth, both the college POA forms and Vanguard POA forms ask specifically for account numbers. In my mind, that limits the action to just the account listed/identified on the respective...
by kaneohe
Sat Apr 15, 2017 11:14 am
Forum: Investing - Help with Personal Investments
Topic: Capital Gains on Real Estate Sale
Replies: 6
Views: 760

Re: Capital Gains on Real Estate Sale

from Taxcaster, federal taxes only.....assumes 80K of ordinary income Total Income ? $580,000 Total Deductions ? $12,600 Total Exemptions ? 0 Taxable Income ? $567,400 Regular Taxes ? $88,024 Alt. Minimum Tax ? $11,613.50 Additional Taxes ? $12,540 Tax Credits ? 0 Tax Payments ? 0 You Owe ? $112,177...
by kaneohe
Sat Apr 15, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Safe Harbor and Penalty
Replies: 2
Views: 298

Re: Safe Harbor and Penalty

My understanding is that the penalty is basically interest (used to be 3% , may be somewhat higher now) on the shortfall from the safe harbor and calculated separately for each "quarterly" payment so the average period of each installment is approximately 6mos. If you missed safe harbor by...
by kaneohe
Sat Apr 15, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Forgotten Carryover Losses Reportable?
Replies: 6
Views: 598

Re: Forgotten Carryover Losses Reportable?

........................................................ Also to keep the capital loss active even if you had no income, you would need to file a return to show the capital loss being carried forward to future years. Not sure that you actually need to file a return but you do need to be able to sho...
by kaneohe
Fri Apr 14, 2017 6:57 pm
Forum: Investing - Help with Personal Investments
Topic: Stock Loss carryover and Ownership
Replies: 2
Views: 221

Re: Stock Loss carryover and Ownership

https://www.ftb.ca.gov/forms/misc/1051A.pdf Perhaps you may want to decide if the property is community or separate. If it is community property, then I would guess the income is also and so the loss would be shared so each could deduct $1500 in addition to be used against capital gains. "Comm...
by kaneohe
Fri Apr 14, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax bug or is it me: state tax refund increasing NIIT?
Replies: 15
Views: 959

Re: Turbotax bug or is it me: state tax refund increasing NIIT?

from Pub 525: p.26 https://www.irs.gov/pub/irs-pdf/p525.pdf kinda sounds like what you did so your gut instinct about the refund not being taxable sounds right. "Subject to alternative minimum tax. If you were subject to the alternative minimum tax in the year of the deduction, you will have to...
by kaneohe
Thu Apr 13, 2017 8:00 am
Forum: Personal Finance (Not Investing)
Topic: How do I know if I am filing my taxes correctly?
Replies: 39
Views: 2752

Re: How do I know if I am filing my taxes correctly?

........... I have yet to review a self-prepared tax return by a landlord (someone with a residential rental property) that I didn't recommend amending. Just before this tax season I amended 2013-2015 for an intelligent, organized pharmaceutical sales executive. He had a rental property and had bee...
by kaneohe
Wed Apr 12, 2017 6:36 pm
Forum: Personal Consumer Issues
Topic: HMOs and Physical Therapy
Replies: 5
Views: 483

HMOs and Physical Therapy

Anyone w/ an HMO ever get physical therapy? Was it covered by your insurance. I have Medicare+ Supplement and had no trouble going to a PT place and never thought this was an issue. DW has Medicare Advantage HMO and nearly all places called say they don't accept the HMO insurance & they are out-...
by kaneohe
Mon Apr 10, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Stock spinoff tax reporting
Replies: 11
Views: 587

Re: Stock spinoff tax reporting

https://www.sec.gov/Archives/edgar/data/1129137/000119312515394470/d76691d6k.htm#tx76691_17 U.S. Federal Income Tax Considerations ........................................................ Consequences of the Spin-off Spin-off of Telesites Shares as a Taxable Dividend. .............................w...
by kaneohe
Sun Apr 09, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust.....Listing of Assets
Replies: 7
Views: 862

Re: Revocable Living Trust.....Listing of Assets

Sandtrap wrote:.............................................

fwiw: isn't "Kaneohe" . . . . as in Kaneohe Bay Drive. . . as in KMCAS . . . as in Kaneohe Zippy's ??


you got it, brah! loved whipping off the reefs there.
by kaneohe
Sun Apr 09, 2017 2:59 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Rules Question
Replies: 11
Views: 465

Re: Roth IRA Rules Question

The Wizard wrote:
kaneohe wrote:If you contribute to the Roth IRA when you are eligible, the contribution is an excess contribution subject to a annual penalty until removed...

You might want to review your wording here...


good catch....thanks! fingers in gear but not brain......corrected.
by kaneohe
Sun Apr 09, 2017 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Pay some Estimated Taxes?
Replies: 14
Views: 1351

Re: Should I Pay some Estimated Taxes?

I am seeking advice on whether I should pay one estimated tax payment this year (4/17/17). I did some partial Roth conversions in the first quarter of 2017. Then in March I started monthly tIRA payments (to me) with enough withholding taxes to cover both the Roth conversions and the tIRA payments f...
by kaneohe
Sun Apr 09, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: How do I know if I am filing my taxes correctly?
Replies: 39
Views: 2752

Re: How do I know if I am filing my taxes correctly?

I don't know about "paid preparers." But consider "free" preparers - like AARP TaxAide and VITA. These programs have IRS sponsorship, the preparers are trained, and pass a qualification exam. Additionally, each return is quality reviewed by a second trained counselor. The scope ...
by kaneohe
Sun Apr 09, 2017 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to report Box 10. Net Section 1231 Gain (Loss) from schedule K-1 to Form 4797?
Replies: 6
Views: 502

Re: How to report Box 10. Net Section 1231 Gain (Loss) from schedule K-1 to Form 4797?

https://www.taxact.com/support/1597/2016/schedule-k-1-1065-publicly-traded-partnership "If you have an overall loss (but did not dispose of your entire interest in the PTP to an unrelated person in a fully taxable transaction during the year), the losses are allowed to the extent of the income...
by kaneohe
Sun Apr 09, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Rules Question
Replies: 11
Views: 465

Re: Roth IRA Rules Question

Greetings, Situation: I rolled over a workplace Roth 401(k) to a Roth IRA based at Fidelity after leaving my employer last summer. Since then, I have established a new Roth 401(k) with my new employer and contribute to that from every paycheck. Fidelity keeps reminding me to contribute to it , but ...
by kaneohe
Sat Apr 08, 2017 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust.....Listing of Assets
Replies: 7
Views: 862

Re: Revocable Living Trust.....Listing of Assets

Thanks for the help, guys.
by kaneohe
Sat Apr 08, 2017 8:57 am
Forum: Investing - Help with Personal Investments
Topic: Question about long term capital losses
Replies: 6
Views: 372

Re: Question about long term capital losses

from Sch D.......right on the form: 16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 ............................................ • If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. .........................
by kaneohe
Fri Apr 07, 2017 11:27 pm
Forum: Investing - Help with Personal Investments
Topic: Question about long term capital losses
Replies: 6
Views: 372

Re: Question about long term capital losses

from Sch D.......right on the form: 16 Combine lines 7 and 15 and enter the result . . . . . . . . . . . . . . . . . . 16 ............................................ • If line 16 is a loss, skip lines 17 through 20 below. Then go to line 21. Also be sure to complete line 22. ..........................
by kaneohe
Fri Apr 07, 2017 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust.....Listing of Assets
Replies: 7
Views: 862

Re: Revocable Living Trust.....Listing of Assets

There is a list but it covers other stuff like IRAs, 401K along with the trust assets and jt. owned stuff. I know you can have stuff listed on the trust schedule and forget to title it properly , so merely being on the trust schedule does not make it a trust asset. ..........so it is not sufficient ...
by kaneohe
Fri Apr 07, 2017 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust.....Listing of Assets
Replies: 7
Views: 862

Revocable Living Trust.....Listing of Assets

When we initially set up our RLT, there was an Appendix A (or something) which was a listing of assets in the trust. The attorney initially requested that we update the list annually and send him that list. After some number of years, he requested that we not send that update anymore.......I assume ...
by kaneohe
Tue Apr 04, 2017 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Couple of questions about tax (qualified dividends + self-employment income)
Replies: 4
Views: 274

Re: Couple of questions about tax (qualified dividends + self-employment income)

............................................... 2. I see that self-employment tax is taxed once in your normal tax bracket as it's included in the "Income" section of the 1040 (line 12). Then I see that it's taxed by 15.3% in the "Other Taxes" section of the 1040 (line 57) and t...
by kaneohe
Tue Apr 04, 2017 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Couple of questions about tax (qualified dividends + self-employment income)
Replies: 4
Views: 274

Re: Couple of questions about tax (qualified dividends + self-employment income)

To understand this, you will need to go thru the QDIV/LTCG worksheet in the 1040 instructions. A nicer way is to think about things via a picture https://thefinancebuff.com/fiscal-cliff-deal-and-dividends-and-capital-gains.html . You first determine your AGI with the 9a number. Then you represent th...
by kaneohe
Tue Apr 04, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1355

Re: form 8606 basis question.

consider calling TT via a trusted number (not Google). Friend called them about a problem w/ FEIE. They somehow connected to his computer so they could see what he had done.......and found an input/status that caused the problem. They suggested something and problem was fixed.
by kaneohe
Tue Apr 04, 2017 8:25 am
Forum: Personal Finance (Not Investing)
Topic: withdrawal of Roth conversions made before 5 years ago vs. after
Replies: 5
Views: 681

Re: withdrawal of Roth conversions made before 5 years ago vs. after

Line 22 covers regular contributions. When those are exhausted,line 24 covers conversions and a table in the instructions for that line guides you through. Not sure what you mean by basis in Roth conversions........when you have basis in a TIRA (you already paid taxes on basis), when you convert to ...
by kaneohe
Tue Apr 04, 2017 12:27 am
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan F Increases
Replies: 37
Views: 2151

Re: Medigap Plan F Increases

AARP UHC Plan F.....typical increase over last five yrs.............averaging8.1%/yr for the last 5-6 yrs/
This includes the decreasing discount of-3%/yr so presumably the base increase is 5+%/yr.
by kaneohe
Mon Apr 03, 2017 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Doing taxes by hand -- what is "taxable compensation"?
Replies: 7
Views: 724

Re: Doing taxes by hand -- what is "taxable compensation"?

[url]https://www.irs.gov/individuals/international-taxpayers/individual-retirement-arrangements[/url Looks like the worst of both worlds......Use FEIE exclusion to determine funds available for contribution but don't use exclusion to determine if you are eligible to contribute to Roth or deduct TIRA...
by kaneohe
Mon Apr 03, 2017 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Withdrawing Early from Roth without Penalty
Replies: 5
Views: 594

Re: Withdrawing Early from Roth without Penalty

Spewin wrote:..................... You know you can withdraw contributions without penalty at any time (subject to some funky rules about having had a Roth account for 5 years).....................................


Original contribution can be withdrawn at any time w/o penalty .......no funky rules involved.
by kaneohe
Sat Apr 01, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Taxable SS Benefits
Replies: 28
Views: 2617

Re: Taxable SS Benefits

here's your fishing pole: google: tax calculator. Taxcaster and the HR Block calculator , among others. You can also search for the SS wksht
that will tell you how of of the SS is taxable.
by kaneohe
Fri Mar 31, 2017 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: AB Trust - Post American Taxpayer Relief Act of 2012
Replies: 7
Views: 448

Re: AB Trust - Post American Taxpayer Relief Act of 2012

I believe I have been to a number of seminars here in CA when the law changed where the speakers were trying to pitch something like what you proposing.........to have the surviving spouse have the flexibility to decide. I do not remember whether it was A/B by default if no action were taken or the ...
by kaneohe
Fri Mar 31, 2017 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Familiar w/ Uber/Lyft Taxation?
Replies: 7
Views: 850

Re: Anyone Familiar w/ Uber/Lyft Taxation?

Thanks Huey for that link. Here's another that I found and which was also suggested by another. http://www.idrivewithuber.com/uber-tax-filing-information/ It's kinda neat because it has pictures and arrows, etc. Perhaps I am making too much of the wording........... but the first line on the Tax Sum...

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