Search found 600 matches

by markcoop
Thu Mar 10, 2016 10:34 am
Forum: Investing - Theory, News & General
Topic: Maxing Roth 401K vs Trad 401K
Replies: 47
Views: 4209

Re: Maxing Roth 401K vs Trad 401K

All things being equal (same rate, same fees, etc), the ROTH 401K should only be better. However, there are too many variables to always conclude that. The ability the control your AGI in retirement is very important. That may lead one to do some of both (Roth and non-Roth), or at least target a cer...
by markcoop
Fri Mar 04, 2016 3:39 pm
Forum: Investing - Theory, News & General
Topic: "Why IBM Moved to Indexing"
Replies: 22
Views: 4107

Re: "Why IBM Moved to Indexing"

I haven't moved my IBM 401K money to Vanguard yet but I probably will. I did not take advantage of the post-tax 401K because I didn't understand (and probably still don't) the benefit. 1) Why move your IBM 401K money to Vanguard? The 401K has Vanguard funds. The fees a lower in the 401K. You also h...
by markcoop
Fri Feb 19, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Playing Financial Defense- HELOC?
Replies: 11
Views: 907

Re: Playing Financial Defense- HELOC?

I have had a $100K HELOC open for the past decade. I feel it's not a replacement for a good emergency fund, but it is an awesome feeling knowing I have an extra $100K at my disposable if I ever needed it. Originally, I viewed it only as emergency type money, but it's purpose has grown over the years...
by markcoop
Tue Feb 16, 2016 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

So I finally got my 1099Bs and 1099DIV from VBS. I did end up filing my return and my child's return last week using values I figured out. The 1099DIV was correct to the penny. The 1099B was also correct in total, except VBS divided the long-term gains into two 1099Bs - Covered and non-covered share...
by markcoop
Fri Feb 12, 2016 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

livesoft wrote:
markcoop wrote:I did see the credit being applied. Just found that $300 is the threshold to file form 1116.

For a single person like your student.


Right again. $600 for me as married filing jointly.
by markcoop
Fri Feb 12, 2016 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

The amount is so low that you do not need to fill out Form 1116, but TT will give you the credit. Do you ever look at the forms that TT produces? If not, why not? Specifically, it will be on page 2 of Form 1040. I did see the credit being applied. Just found that $300 is the threshold to file form ...
by markcoop
Fri Feb 12, 2016 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

Note that if Foreign Tax is $2.83, then Foreign income is supposed to be $2.83 x 20.44601= $57.86 Box 1b of your 1099-DIV will be $2.83 x x 16.62346 = $47.04. 47.04 / 57.87 = 81.3%, but Vanguard previously estimated QDI to be 78%. I assume foreign income would be used if I filled out form 1116. I d...
by markcoop
Fri Feb 12, 2016 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

They can't truly be serious about the 15 Feb deadline, as there are inputs to the 1040 that aren't due until March 15 (e.g., Form 1120). Schools have different deadlines. I called one school that had a Feb 15 deadline and they said the deadline is to guarantee you receive your aid notification with...
by markcoop
Fri Feb 12, 2016 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

Complete the return and give it to the college but don't file it. Problem solved. Gill The colleges specifically say they want the returns submitted to the gov't. Some want me to print off the return, sign in (because I'm using Turbotax, there is no signature on the return) and then send it in. I h...
by markcoop
Fri Feb 12, 2016 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

I'm not sure I follow NOT knowing box 1a. In the non-VBS 1099DIV, that number matched the amount of dividends received for the year from the non-VBS time period. Wouldn't it also be the case when VBS holds the fund? Here are the values of the 1099DIV I have: 1a (total ordinary dividends): $226.58 1...
by markcoop
Fri Feb 12, 2016 11:49 am
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

I'm not sure I follow NOT knowing box 1a. In the non-VBS 1099DIV, that number matched the amount of dividends received for the year from the non-VBS time period. Wouldn't it also be the case when VBS holds the fund? Here are the values of the 1099DIV I have: 1a (total ordinary dividends): $226.58 1b...
by markcoop
Fri Feb 12, 2016 11:42 am
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

Re: 1099 DIV from VBS too late

Ticker symbol VTMGX

The total amount of the dividend is only $55.05
by markcoop
Fri Feb 12, 2016 10:49 am
Forum: Investing - Theory, News & General
Topic: Rebalancing bands, what is your CURRENT out-of-balance drift?
Replies: 47
Views: 2931

Re: Rebalancing bands, what is your CURRENT out-of-balance drift?

If there's one area I cheat my IPS, it's rebalancing bands. For some reason I can't help myself from buying on a big down day (only in my retirement accounts). So although I have embedded in my spreadsheet rules for bands (5% absolute or 25% relative), I tend to rebalance more frequently. I guess I ...
by markcoop
Fri Feb 12, 2016 10:04 am
Forum: Personal Finance (Not Investing)
Topic: 1099 DIV from VBS too late
Replies: 16
Views: 942

1099 DIV from VBS too late

I have one form holding up my taxes - VBS 1099DIV for Vanguard Developed Markets Index Fund Admiral fund. I want to complete my taxes so that I can send them to my son's colleges for financial aid (some schools have a deadline of Feb 15, although they will accept them afterwards). Vanguard says thes...
by markcoop
Thu Feb 11, 2016 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking About When to Tax Loss Harvest (TLH)
Replies: 14
Views: 1121

Re: Thinking About When to Tax Loss Harvest (TLH)

I've gone back and forth between Tot'l Intl and the FTSE ex-US fund already. In a couple weeks I may do it again. I do wonder if there is any limit to the number of times you can go back and forth.
by markcoop
Sun Feb 07, 2016 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

Got it. The year-end brokerage statement has it broken down by shares. Odd that the information is not available in an on-line format. Not that anyone else cares, but 19.199 shares were short-term.

Thanks for all the comments.
by markcoop
Sun Feb 07, 2016 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

...so the math is easily worked out for the number of long-term shares, short-term shares, and their respective cost basis. How do I know the number of shares that are short-term vs long-term? I had thought I can just add all shares that were bought within the last year to come up with the short-te...
by markcoop
Sun Feb 07, 2016 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

This should be pretty easy. I sold everything in the account. I use avg. cost basis. When I go to "cost basis" and then "Realized gain & losses" and select 2015 as the year, there is one line there for the transaction. Here is the info on the line (tried to paste an image, bu...
by markcoop
Sun Feb 07, 2016 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

Split the transactions and file your return. :happy I have no problems splitting the transaction myself and making the end capital gains the same. Especially, because my son will not be paying taxes on the capital gains anyway. My only issue is I believe the cost basis is reported to the IRS. There...
by markcoop
Sat Feb 06, 2016 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

But doesn't the Vanguard web site have what you need already under the "Realized Gains/Loss" tab? I showed a screen capture of that tab in this post: https://www.bogleheads.org/forum/viewtopic.php?p=2722308#p2722308 My sale has short and long term gains. On the screen you showed, they sho...
by markcoop
Sat Feb 06, 2016 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

Re: 1099B not coming till end of Feb but need info now

They do want the 2015 return. This is the last year that this will be true as FAFSA and CSS Profile will be using the previous year's return (called prior prior) in the future. I have already submitted the FAFSA and CSS Profile using estimated values. The next step is to submit your actual 2015 retu...
by markcoop
Sat Feb 06, 2016 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B not coming till end of Feb but need info now
Replies: 22
Views: 1798

1099B not coming till end of Feb but need info now

I had a UGMA account for my son. I had a sale last year from the account, so I'd like to file an income tax form for him. I have all the other information ( a couple of small W2s) except the 1099B for this sale. Vanguard tells me that VBS sales will have 1099Bs available at the end of Feb. However, ...
by markcoop
Sat Nov 28, 2015 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Too much in tax-advantaged accounts?
Replies: 115
Views: 12078

Re: Too much in tax-advantaged accounts?

I have had similar feelings in the past. At 49 years old, I feel my retirement savings and college savings have been funded at a nice pace to meet those long-term goals. However, I have wondered if that has come at the expense of some short term goals. In other words, have I made myself somewhat poo...
by markcoop
Fri Oct 16, 2015 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Please explain how this Tax Credit works (American Opportunity Credit)
Replies: 27
Views: 1964

Re: Please explain how this Tax Credit works (American Opportunity Credit)

Remember, taking out student loans for at least $4,000 would also qualify you for the full credit. When you take out a student loan, the college gets paid immediately. It's only the lender that has to wait. Unfortunately, taking out student loans does not qualify you for anything. The money must be...
by markcoop
Tue Aug 11, 2015 9:08 am
Forum: Personal Consumer Issues
Topic: Anti-smartphone [basic phone + paper planner & address book] anyone??
Replies: 42
Views: 3712

Re: Anti-smartphone [basic phone + paper planner & address book] anyone??

I just got my first smart phone 2 weeks ago (I'm 49 and work in the computer industry). I have and continue to believe that these phones have some wonderful technology but are a constant source of temptation away from things that matter in life. The same thing can also be said about laptops and tabl...
by markcoop
Mon Jun 29, 2015 11:45 am
Forum: Personal Finance (Not Investing)
Topic: What's your net worth break down? What's ideal?
Replies: 44
Views: 7589

Re: What's your net worth break down? What's ideal?

I have actually thought of this in the past. I feel very comfortable with my retirement savings but not as comfortable with my savings to get me to retirement. This is probably due to me constantly wanting to max out retirement benefits. I could always raid some of that money (like ROTH contribution...
by markcoop
Fri May 29, 2015 12:16 pm
Forum: Personal Consumer Issues
Topic: Best way to learn tennis for adult
Replies: 29
Views: 2745

Re: Best way to learn tennis for adult

I would visit a local tennis club and ask them what they have available. There are many programs/clinics at clubs for all levels. I disagree that tennis is not a "log-term" activity. First, I would say many tennis players who get hurt don't take proper care of themselves. Staying healthy i...
by markcoop
Wed May 13, 2015 12:25 pm
Forum: Investing - Theory, News & General
Topic: [Teens and Investing]
Replies: 17
Views: 1228

Re: TEENS AND INVESTING

I just talked to my 16-year old about how much I saved for college for him and how I did it. He was very interested because it actually had meaning to him. I doubt I can get him to read a book about it. I also opened a bank account for him and request he use it as often as possible. I find anything ...
by markcoop
Tue May 12, 2015 10:36 am
Forum: Investing - Help with Personal Investments
Topic: 529 plans- Are they part of your overall A.A?
Replies: 22
Views: 1568

Re: 529 plans- Are they part of your overall A.A?

I used to do both. I track my finances on a spread sheet. I had an overall AA that included the 529 plan. This was basically one table in my spreadsheet. I also had separate AA's for my retirement money and the college education money. Basically a couple more tables. So, when I made any moves, I too...
by markcoop
Tue May 05, 2015 9:40 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 988

Re: Roth vs Traditional 401k

Some points: 1) Although this probably does not apply to you, I chose to do a traditional 401K over a ROTH 401K due to the child tax credit. Every dollar that got switched from a regular 401K to ROTH 401K, meant I had more income that year. For my situation, the more income I had, the less of a chil...
by markcoop
Tue Apr 21, 2015 11:52 am
Forum: Investing - Help with Personal Investments
Topic: Another: retirement am I saving too much?
Replies: 18
Views: 3379

Re: Another: retirement am I saving too much?

You're aware you can access retirement accounts prior to age 59 1/2 without penalty, right? Here's a post I wrote a long time ago about it: http://whitecoatinvestor.com/how-to-get-to-your-money-before-age-59-12/ I believe if you retire from a company where you had a 401K type plan anytime after the...
by markcoop
Tue Apr 21, 2015 11:10 am
Forum: Personal Consumer Issues
Topic: Car for teenager
Replies: 52
Views: 3957

Re: Car for teen ager

I am wrestling with the same issue. Although I trust my children, I believe all people, especially young drivers, believe they are better drivers than they are. I also believe there are many bad drivers on the road today. It's hard to convey that it's better to be safe than right to a teenager. For...
by markcoop
Tue Apr 21, 2015 8:13 am
Forum: Investing - Help with Personal Investments
Topic: Am I saving too much for retirement?
Replies: 27
Views: 5213

Re: Am I saving too much for retirement?

If you're denying yourself anything today in order to meet those savings rates, then I believe you're asking a valid question. Clearly you want the match in the 401K/TSP, so I think you wouldn't change that. You have access to your contributions in a ROTH IRA, so at least you're not doing anything t...
by markcoop
Sun Apr 19, 2015 8:15 pm
Forum: Personal Consumer Issues
Topic: Car for teenager
Replies: 52
Views: 3957

Re: Car for teen ager

Livesoft - I always let my kids drive when it's just me and them in the car. I also try not to give too many driving tips, but limit what I say to a few good suggestions.
by markcoop
Sun Apr 19, 2015 7:59 pm
Forum: Personal Consumer Issues
Topic: Car for teenager
Replies: 52
Views: 3957

Re: Car for teen ager

I am wrestling with the same issue. Although I trust my children, I believe all people, especially young drivers, believe they are better drivers than they are. I also believe there are many bad drivers on the road today. It's hard to convey that it's better to be safe than right to a teenager. For ...
by markcoop
Wed Apr 15, 2015 7:50 pm
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

This raises the question of how much more does a hybrid Camry cost than a regular Camry. Edmunds indicates that a 2012 hybrid LE is valued at about $3,500 more than a regular LE, so $400 a year in fuel savings would take nearly 9 years to recover, and even longer at 12k miles per year. Does a hybri...
by markcoop
Tue Apr 14, 2015 9:26 pm
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

I'm pretty sure that I'm going to go with the Camry. I've slowly convinced myself that I'm wiling to pay a little more for a better car, as long as the little more is reasonable. 3-year old Camry Hybrid with low miles (around 30K) for $18K seems reasonable and Boglehead-ish. Both are excellent cars...
by markcoop
Tue Apr 14, 2015 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Rules on using IRA money for child's education?
Replies: 16
Views: 1485

Re: Rules on using IRA money for child's education?

Alan S. wrote:Payments on a student loan are NOT qualified expenses, but payments of qualified expenses with loan money IS.


Can you explain what you mean in the second half of this sentence?
by markcoop
Tue Apr 14, 2015 11:29 am
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

Thanks to all who have responded. Surfstar - I don't currently drive a ton of miles per year. I've been averaging about 11K per year. However, I anticipate that average going up with one kid starting college and another looking at colleges. My guess is about 15K/year going forward. sls - I hear you ...
by markcoop
Mon Apr 13, 2015 9:14 am
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

My life is too valuable to drive a car as light as a Honda Fit. At least the 2015 was an upgrade from the 2013 in crash testing. http://www.iihs.org The Camry was rated poor in small overlap, that year Prius wasn't tested, I'm sure it is poor as well. In 2014 the Prius received an upgraded structur...
by markcoop
Sun Apr 12, 2015 6:16 pm
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

Thanks for all the input. To answer why not just go with the car I thought drove better, it's simply a matter of cost. I think I have ruled out option 2. Spoke to some friends and the value add just isn't there. I don't use a GPS too often and I do own a TomTom for when I need it. So, let's narrow t...
by markcoop
Sat Apr 11, 2015 6:07 pm
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Re: Which 3 year old hybrid: Camry or Prius

DS - That's basically my opinion about Navigation systems as well. I have 3 kids (1 in college, 1 a junior in HS). We do have a minivan. That is used to move anything we need to move. So that's not such an issue. But flexibility is always good. One advantage of a sedan is my smelly gym clothes do no...
by markcoop
Sat Apr 11, 2015 5:10 pm
Forum: Personal Consumer Issues
Topic: Which 3 year old hybrid: Camry or Prius
Replies: 36
Views: 3621

Which 3 year old hybrid: Camry or Prius

I'm a big fan of buying 3 year old or so used cars. In general I'm always looking to get the best deal. I've decided to but a hybrid and have narrowed it down to these options: 1) 2012 Toyota Camry Hybrid with 30K miles for $18,000 2) 2012 Toyota Prius 3 with 28K miles for $17,000 (this model has a ...
by markcoop
Sat Apr 04, 2015 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Grantor trust taxable interest - where to report?
Replies: 4
Views: 518

Re: Grantor trust taxable interest - where to report?

I spent some time searching on the web. At this point I'm pretty sure that interest from such a trust (the company's name is PrePlan) is simply reported as interest income like a 1099INT. I found a few sources talking about taxes on these prepaid funeral trusts. Every source indicated it's paid as i...
by markcoop
Fri Apr 03, 2015 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Grantor trust taxable interest - where to report?
Replies: 4
Views: 518

Re: Grantor trust taxable interest - where to report?

Thanks RJ. There is an Income section and a deductions section. In the income section, under Gross Taxable Interest there's an amount and a comment that says "REPORT THIS AMOUNT ON YOUR TAX RETURN". Just doesn't say how to do it. Not being familiar with a K-1, I took a look. I guess I coul...
by markcoop
Fri Apr 03, 2015 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for childrens' college
Replies: 121
Views: 10000

Re: Paying for children college

Question, we work in public sector, when the time comes, can we borrow the money for them to go to college then apply for public service loan forgiveness program? To my knowledge, you cannot do that. Parents can borrow the money, but I am unaware that parents can apply for loan forgiveness. I may b...
by markcoop
Fri Apr 03, 2015 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Grantor trust taxable interest - where to report?
Replies: 4
Views: 518

Grantor trust taxable interest - where to report?

Hopefully a quick tax question. Helping family member with their taxes. Person has a prepaid funeral trust. They received a statement showing Gross Taxable Interest. This seems to be interest earned on the money in the trust. Where would this be entered on the taxes? It sounds like interest but it's...
by markcoop
Wed Mar 25, 2015 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Going over gift tax limits
Replies: 20
Views: 2144

Re: Going over gift tax limits

Let me slightly rephrase the question. Assuming a check was already cut for greater than $14K to one individual but the intention was to spread to gift among two married people, has the annual federal gift tax exclusion been exceeded (and therefore a gift tax return is needed)? I understand it is de...
by markcoop
Wed Mar 25, 2015 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Going over gift tax limits
Replies: 20
Views: 2144

Re: Going over gift tax limits

I have another question. If a parent wants to gift to her married child, I know she can gift $14K to the child and $14K to the spouse of the child. Does it need to be two separate gifts. For example, can the parent write a check for $28K made out to their child and the child just deposits the check ...

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