Search found 3721 matches

by kaneohe
Thu Dec 08, 2016 11:03 am
Forum: Investing - Help with Personal Investments
Topic: Quick backdoor Roth question
Replies: 2
Views: 123

Re: Quick backdoor Roth question

You should run thru your situation on form 8606 https://www.irs.gov/pub/irs-pdf/f8606.pdf You will see that your TIRAs are valued at a certain point in time (current yr end......see line 6) so as long as your other TIRAs are "invisible" (in the 401K) by yr end , you should be ok.
by kaneohe
Wed Dec 07, 2016 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mistakenly Penalized on Roth IRA withdrawal?
Replies: 12
Views: 853

Re: Mistakenly Penalized on Roth IRA withdrawal?

NORMALLY, withdrawals before age 59 1/2 and before it is open 5 years are subject to a 10% penalty While it is true that withdrawals before 59.5 and before the first Roth is open 5 yrs are not qualified distributions, it is not necessarily true that these withdrawals are subject to a 10% penalty. T...
by kaneohe
Wed Dec 07, 2016 12:27 pm
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

word of warning: Andrews e-mail messages within the online application center apparently vanish after awhile. I went back in to confirm my member
number before I fund the acct and couldn't find it. I have it written on a piece of paper but wanted to double check before I write the check.
by kaneohe
Wed Dec 07, 2016 11:11 am
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

Heads up for those depositing funds in Andrews for these CDs. I opened an account for my wife and per Andrews advice, I deposited a certified bank check into her Andrews savings account at a local affiliate CU yesterday. The money is in her Andrews savings account. I called Andrews last night to tr...
by kaneohe
Wed Dec 07, 2016 8:51 am
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

.............................................................. I'm waiting for the transfers to clear, but I intend to do just that. The rep I spoke with over the phone said that I could open as many CDs as I'd like. Just curious how long folks have to wait for transfers to clear and method of tran...
by kaneohe
Wed Dec 07, 2016 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Quick tax caster question
Replies: 5
Views: 423

Re: Quick tax caster question

...................................................] Refund keeps going down but I'm using tax harvesting losses of 3k, 401k, 457b, HSA, FSA, donations etc to lower taxed income. Being at 33% bracket and almost breaking even worries me because something may change a bit and I'll owe more tax next y...
by kaneohe
Tue Dec 06, 2016 11:44 pm
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

Opening up my account was a lot easier once I had a feel for how they work. 1. Submitted my application. 2. Waited until I saw the money to fund the account leave Ally (means my account was setup even though I received no notice at all from Andrews) 3. Called and got my account number. (With the ac...
by kaneohe
Tue Dec 06, 2016 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Quick tax caster question
Replies: 5
Views: 423

Re: Quick tax caster question

Taxcaster is an Income Tax calculator so you should only be inputting income tax withheld/paid, not SS/Medicare. Sounds like if your refund keeps going down, then you are withholding correctly so you end up near zero. If your refund were going up, you would have been withholding too much. There is t...
by kaneohe
Tue Dec 06, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with capital gains
Replies: 1
Views: 178

Re: Need help with capital gains

Would your former employer have that info.......at least the per share data?
by kaneohe
Mon Dec 05, 2016 10:40 pm
Forum: Investing - Theory, News & General
Topic: When is the five years up for Roth conversion
Replies: 7
Views: 1077

Re: When is the five years up for Roth conversion

Being 59.5 doesn't impact the 5 year clock, nor does the contribution question really. ................................................ They do if you are interested in withdrawing earnings w/o penalty as OP asked or at least wrote. If OP meant the conversion, that's a different story but I can't r...
by kaneohe
Mon Dec 05, 2016 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare part D and IRMAA
Replies: 6
Views: 582

Re: Medicare part D and IRMAA

Apparently, there is a sign-up loophole for 5 star rated Med Advantage plans and Part D drug plans. The Government is "rewarding " those 5 star plans by encouraging people to sign up with those plans. There is only 1 week out of the year when you can NOT sign up with a five star plan. Int...
by kaneohe
Mon Dec 05, 2016 10:07 pm
Forum: Investing - Theory, News & General
Topic: When is the five years up for Roth conversion
Replies: 7
Views: 1077

Re: When is the five years up for Roth conversion

I have a related question. If you transferred the Roth from Securian to Vanguard, does the clock on those 5 years reset? I'm assuming the OP is referring to the time you need to wait before you're permitted to withdraw contributions. don't know if the OP meant it but: "When does the five year ...
by kaneohe
Mon Dec 05, 2016 7:37 pm
Forum: Investing - Theory, News & General
Topic: When is the five years up for Roth conversion
Replies: 7
Views: 1077

Re: When is the five years up for Roth conversion

Will she be 59.5 y.o. by that date? When did she open her first Roth IRA?
by kaneohe
Mon Dec 05, 2016 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare part D and IRMAA
Replies: 6
Views: 582

Re: Medicare part D and IRMAA

.............................. So I now think I will skip part D and if I in the future developed a condition that required expensive meds that I would sign up with a 5 star drug plan (available immediately for 51 weeks of the year ) and pay the 1%/month penalty. Any thoughts about this ? Thanks! T...
by kaneohe
Fri Dec 02, 2016 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: tax loss harvesting question
Replies: 4
Views: 395

Re: tax loss harvesting question

Thanks for the clarification. With regards to "substantially identical" funds - would you say going from an actively managed sector fund from Vanguard to Fidelity would qualify? I would guess that even going from actively managed sector fund to another actively managed fund within VG woul...
by kaneohe
Fri Dec 02, 2016 1:26 am
Forum: Investing - Help with Personal Investments
Topic: tax loss harvesting question
Replies: 4
Views: 395

Re: tax loss harvesting question

................................. 1) When taking a loss, is the money you raise prohibited from being reinvested in a similar investment or fund? Or is it you, as an investor, that’s prohibited from investing in a similar investment or fund? 2)An example: Let’s say I have a healthcare sector fund a...
by kaneohe
Thu Dec 01, 2016 1:19 am
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

nalor511 wrote:So if you elected to open the account with $5, basically no way around getting a negative balance fee and having to call?


Why not put $10 there? You'll need it eventually to provide withdrawal activity to avoid the "no activity" monthly fee.
by kaneohe
Wed Nov 30, 2016 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: Reinvest Dividends from Taxable to Roth IRA
Replies: 8
Views: 668

Re: Reinvest Dividends from Taxable to Roth IRA

Thank you op for posting the question. One more everyone. I didn't think that dividends/capital gains are considered earned income, that can be used to fund a Roth IRA. Am I wrong? I am definitely interested in doing the same thing. Thank you, J They aren't earned income........but if you have earn...
by kaneohe
Tue Nov 29, 2016 8:41 pm
Forum: Investing - Theory, News & General
Topic: Great CD Promo! Andrews FCU 84 mo 3.01%
Replies: 109
Views: 11083

Re: Great CD Promo! Andrews FCU 84 mo 3.01%

[np81] [*]To qualify, you can join the American Consumer Council and use promo code "consumer" to have the $5 $8 (went up $3 in the last week, apparently) fee waived. You'll need your ACC membership # in order to create an Andrews account /quote] Thank you for this tip, you saved me $8. +...
by kaneohe
Tue Nov 29, 2016 1:24 am
Forum: Investing - Help with Personal Investments
Topic: Putting money in non-deductible Traditional IRA vs. Taxable account
Replies: 14
Views: 1154

Re: Putting money in Traditional IRA vs. Taxable account

...................................... I presume you cannot read the article’s author's minds but why would Betterment suggest moving funds from a taxable account TO ? a non-deductible Traditional IRA? I don’t see them financially incentivized to give such advice. ............................. I do...
by kaneohe
Tue Nov 29, 2016 1:01 am
Forum: Investing - Help with Personal Investments
Topic: Is a CD rate of 3.01% for 84mo a good deal?
Replies: 26
Views: 3022

Re: Is a CD rate of 3.01% for 84mo a good deal?

............................ One concern that I have is that with increasing interest rates around the corner am I locking in a rate that will be less and less spectacular as time goes on? .......................................... Note that there is a relatively short EWP so you aren't necessarily...
by kaneohe
Mon Nov 28, 2016 8:53 am
Forum: Investing - Help with Personal Investments
Topic: Unrealized losses in traditional IRA?
Replies: 10
Views: 663

Re: Unrealized losses in traditional IRA?

Be very careful about doing this. It seems highly unlikely that VG would know your "basis" in TIRAs since they don't know your other financial info......like whether your TIRA contributions were deductible or not. It is more likely that, like a taxable account, they simply know your cost w...
by kaneohe
Sat Nov 26, 2016 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Medicare billing question
Replies: 16
Views: 1703

Re: Medicare billing question

by kaneohe
Wed Nov 23, 2016 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: So I just received a letter from the IRS...
Replies: 10
Views: 1788

Re: So I just received a letter from the IRS...

This seems to be an occupational hazard w/ 529 plans but it seems generally to be sorted out ok in the end.

https://www.google.com/search?sitesearch=bogleheads.org&q=irs+notices+and+529+plans
by kaneohe
Mon Nov 21, 2016 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Synchrony vs Ally
Replies: 37
Views: 3220

Re: Synchrony vs Ally

If you ever plan on opening a Living Trust and fund the account to it -- use Ally. Synchrony does not support trust ownership at the moment. You might want to clarify what you mean. I have accts titled in living trust name at both. Don't know about online access at either since I don't do that. Syn...
by kaneohe
Thu Nov 17, 2016 10:01 am
Forum: Personal Finance (Not Investing)
Topic: HSA California: Has it been ruled on that deposits and capital gains are taxed immediately
Replies: 5
Views: 777

Re: HSA California: Has it been ruled on that deposits and capital gains are taxed immediately

......................... https://www.ftb.ca.gov/forms/2015/15_540cains.pdf Line 8 – Taxable Interest "Interest or other earnings earned from a Health Savings Account (HSA) are not treated as taxed deferred. Interest or earnings in a HSA are taxable in the year earned." and he says to me:...
by kaneohe
Thu Nov 17, 2016 8:24 am
Forum: Personal Finance (Not Investing)
Topic: HSA California: Has it been ruled on that deposits and capital gains are taxed immediately
Replies: 5
Views: 777

Re: HSA California: Has it been ruled on that deposits and capital gains are taxed immediately

https://www.ftb.ca.gov/forms/2013/13_1001.pdf p.10 Health Savings Account (HSA) • Contributions Federal law allows taxpayers a deduction for contributions to an HSA account. Contributions made on behalf of an eligible individual by an employer are excluded from W-2 wages. California does not confor...
by kaneohe
Wed Nov 16, 2016 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax credit question
Replies: 6
Views: 565

Re: Tax credit question

"Tax Credit Amount: 10% of cost (not including installation costs), up to $200 for windows and skylights; up to $500 for doors. (Cumulative maximum tax credits for windows, doors, and skylights for all years combined is $500) Requirements: Must be ENERGY STAR certified." https://www.energy...
by kaneohe
Tue Nov 15, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: MRD Question:
Replies: 7
Views: 811

Re: MRD Question:

The concern was wanting to avoid two distributions in one year but not wanting to be required to take a distribution during the September to December 31 time period for the first distribution. I believe that it is not a significant issue personally since we can take a first distribution between Mar...
by kaneohe
Mon Nov 14, 2016 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: MRD Question:
Replies: 7
Views: 811

Re: MRD Question:

..................... Another way to state the question is to ask whether it is ever possible for a withdrawal to count as the first distribution if taken after age 70 but before 70 1/2? Tim https://www.irahelp.com/forum-post/24776-rmd-rule-when-distribution-made-prior-age-70-12 The link above show...
by kaneohe
Sat Nov 12, 2016 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Basis question
Replies: 4
Views: 337

Re: Roth Conversion Basis question

Perhaps this table by kawill from the fairmark.com site will help. See if you can answer your own questions and then we can see if this table is useful w/o any prior background. It may help to know that there is a 5 yr clock on each conversion. Also that contributions come out first, then conversion...
by kaneohe
Sat Nov 12, 2016 9:37 am
Forum: Personal Finance (Not Investing)
Topic: HSA after-tax contributions and tax deduction
Replies: 1
Views: 222

Re: HSA after-tax contributions and tax deduction

see line 25 of the 1040 https://www.irs.gov/pub/irs-pdf/f1040.pdf The HSA contribution is an "above-the-line"deduction
which means you get to take it regardless of whether or not you itemize.
by kaneohe
Sat Nov 12, 2016 1:11 am
Forum: Investing - Help with Personal Investments
Topic: Submitted Form 8606 for Non-deductible IRA and IRS asks for 1040x
Replies: 24
Views: 1514

Re: Submitted Form 8606 for Non-deductible IRA and IRS asks for 1040x

I'm not aware of any written IRS policy that ever allowed the separate filing of Form 8606 for a prior year after the 1040 has been filed for that year, suggesting that an amended return is not required. For at least the last 15 years, the IRS instructions to Form 8606 have instructed the form to b...
by kaneohe
Thu Nov 10, 2016 8:21 pm
Forum: Investing - Help with Personal Investments
Topic: reverse rollover 1099-R
Replies: 3
Views: 298

Re: reverse rollover 1099-R

I haven't done the reverse rollover so can't tell you what is normal for that. However I have seen many 1099Rs and almost all that I have seen have the same number in boxes 1 and 2a and then the first box in 2b checked. This is not inconsistent with the instructions for the 1099R: "Box 2b. If t...
by kaneohe
Thu Nov 10, 2016 1:34 am
Forum: Investing - Theory, News & General
Topic: Checkwriting from IRA account for charitable contributions
Replies: 13
Views: 673

Re: Checkwriting from IRA account for charitable contributions

Cjon, I have been making QCDs out of my Vanguard IRAs for a number of years now. I have a very simple method that has worked very well for me and for my Flagship representative. Did ten of them back in late September and similar numbers in prior years. I make one list of the name of the charities (...
by kaneohe
Sat Nov 05, 2016 9:57 am
Forum: Personal Finance (Not Investing)
Topic: How to realize short term capital loss
Replies: 6
Views: 670

Re: How to realize short term capital loss

I'd suggest checking the IRS pubs (Pub 17 might discuss this but there should be a specific pub for investments as well). If I recall correctly, if you change from Average Cost to another method, the lots in existence prior to the change retain the average cost as their basis. New lots purchased ca...
by kaneohe
Wed Nov 02, 2016 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Community Rated Medigap Plans Price Increases
Replies: 5
Views: 464

Re: Community Rated Medigap Plans Price Increases

Your state insurance dept (google) possibly might have some data that would help you. My state has sample medigap premiums listed based
on company,plan type, age, zip code. Unfortunately their database does not seem to include the AARP UHC plans for some reason. ymmv.......
by kaneohe
Thu Oct 27, 2016 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Cost Basis and ER challenge
Replies: 4
Views: 328

Re: Cost Basis and ER challenge

.............................................. How does this sound: To get close to a reasonable (for IRS audit purposes) cost basis, I add up the dollar amount of all the years of reinvested dividends, add the initial purchase amount, then subtract the dollars redeemed (if I can find this info) an...
by kaneohe
Thu Oct 27, 2016 12:36 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Capital Gain Question
Replies: 4
Views: 430

Re: Long Term Capital Gain Question

I.............................. My understanding is if I wait until retired to sell and I can control my income to keep it in the 15% income tax bracket, I would not owe any LTCG tax. Is this correct? 2016 married filing jointly taxable income max is $75,300 to stay in the 15% bracket. My capital a...
by kaneohe
Thu Oct 20, 2016 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs, Deductible IRAs & Taxes
Replies: 4
Views: 562

Re: RMDs, Deductible IRAs & Taxes

I would change your steps 2 & 3 to: calculate non-taxable and taxable parts of RMD by using F8606. I believe you might want to review F8606. The value of the TIRAs is at the end of the current tax yr (not prior yr). To that value, you add your TIRA distributions and conversions following the ste...
by kaneohe
Thu Oct 20, 2016 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Details on taxable income with dividends
Replies: 11
Views: 806

Re: Details on taxable income with dividends

What I'm doing is trying to get a rough estimate of my total income in retirement. The $3000 is carryover losses from TLH years ago. That's supposed to go against ordinary income. The 40k would be a year's pension payout, with an estimated 10k dividends from the taxable portion of the portfolio. I ...
by kaneohe
Thu Oct 20, 2016 7:54 am
Forum: Personal Consumer Issues
Topic: Portable battery jumpers
Replies: 14
Views: 1295

Re: Portable battery jumpers

When you use a jump starter, be sure to follow the instructions exactly as written. Jump starting is usually a safe procedure, except when it isn't. ALWAYS wear eye protection when doing anything with a car battery. Good reminders.........refreshed my memory for old style jumper cables http://www.d...
by kaneohe
Tue Oct 18, 2016 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Income taxes and a nondeductible IRA
Replies: 11
Views: 791

Re: Income taxes and a nondeductible IRA

................................. Our tax software (HR Block Deluxe) knows the previous tax years basis so we just needed to put the 2015 1099 info in and the software took it from there. Next year the same. It's truly painless for us. .................................... JW Don't you need the yr e...
by kaneohe
Mon Oct 17, 2016 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can someone PLEASE help me (tax calc question)
Replies: 7
Views: 686

Re: Can someone PLEASE help me (tax calc question)

I got 11544 for HRB and 11550 for TaxAct vs 11538 IRS table. The tax calculators more naturally accept income rather than taxable income. Is it possible you are neglecting a std deduction or perhaps an exemption? For HRB, used wages 73,300; std ded 6300, exemption 4000 = taxable inc of 63000 e.g. if...
by kaneohe
Fri Oct 14, 2016 8:00 am
Forum: Investing - Help with Personal Investments
Topic: 529 Superfunding Rules
Replies: 3
Views: 451

Re: 529 Superfunding Rules

My impression is that you have to split each gift exceeding the annual limit into 5 yrs: Thus first gift of 55K each is considered 11K each in yrs 1-5; the second gift of15K each is consider 3K each in yrs 2-6 (assumes limit is still 14K/yr). Then you consider how much you have in each yr... yr 1:11...
by kaneohe
Fri Oct 14, 2016 7:47 am
Forum: Investing - Help with Personal Investments
Topic: So I just learned about the pro rata rule for Roth IRAs...
Replies: 9
Views: 1269

Re: So I just learned about the pro rata rule for Roth IRAs...

"A possible solution Isolating IRA Basis Since 2002, employer plans have been permitted to accept rollovers from traditional IRAs, provided that the amount rolled over doesn’t exceed the amount that would be taxable if you withdrew all the money from the IRA. You have to report this rollover o...
by kaneohe
Fri Oct 14, 2016 1:30 am
Forum: Investing - Help with Personal Investments
Topic: So I just learned about the pro rata rule for Roth IRAs...
Replies: 9
Views: 1269

Re: So I just learned about the pro rata rule for Roth IRAs...

..............................) I believe you can also roll-over the growth of the deductible contributions to the 401k (but not the growth of the non-deductible contributions). ...............................) celia, does this suggest that you can isolate the deductible (contribution and all growt...
by kaneohe
Thu Oct 13, 2016 1:00 am
Forum: Investing - Theory, News & General
Topic: IRA deduction if covered by 401k?
Replies: 9
Views: 626

Re: IRA deduction if covered by 401k?

Also, I'm a little confused. If I fund the IRA with income that has already been taxed, and then I'm taxed again when I withdraw the money from the IRA, where is the tax benefit?? Once we figure out if you're eligible in the first place, then yes you would claim the traditional IRA contribution on ...

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