Search found 4761 matches

by pshonore
Wed Dec 07, 2016 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Mistakenly Penalized on Roth IRA withdrawal?
Replies: 12
Views: 792

Re: Mistakenly Penalized on Roth IRA withdrawal?

Is it possible he has a ROTH 401K (not a Roth IRA)?
by pshonore
Wed Dec 07, 2016 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax deluxe
Replies: 5
Views: 494

Re: Turbotax deluxe

coffeehubcap wrote:No capital gains.
All CD/download versions of TurboTax will do all personal tax returns (even Basic). The more advanced the version, the more hand holding and guidance. I think $35 for Deluxe (through Fido; even non-Fido customers, not sure if state is included) is reasonable.
by pshonore
Wed Dec 07, 2016 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 117
Views: 8997

Re: TaxAct pre-purchase discount

With respect to some posters' concerns about data security using the online version instead of the download version, would there be any difference? Even with the download version, wouldn't your information still pass through TaxAct's servers? It certainly would if you efile your return with them, b...
by pshonore
Tue Dec 06, 2016 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Informal probate in Massachusetts was easy
Replies: 12
Views: 1159

Re: Informal probate in Massachusetts was easy

Just for comparison, here's what it would cost in the neighboring state of Connecticut if you have an RLT for Probate Court fees. (payable by all estates, and RLTs and does not include Attoney's fees. There is a reduction if there is a surviving spouse) $ 500K assets - $1865 $ 2 Mill assets - $5615 ...
by pshonore
Mon Dec 05, 2016 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2016 HSA limit error
Replies: 9
Views: 1211

Re: Turbotax 2016 HSA limit error

Note that "values in red" will normally prevent e-filing a return. That just means you'll have to go back when the new version comes out and correct those. If you're not going to e-file, you can skip that although I would not recommend that approach. I'm certain TT will fix this very soon ...
by pshonore
Sat Dec 03, 2016 10:06 am
Forum: Investing - Help with Personal Investments
Topic: Walk me through donating appreciated shares (tax question)
Replies: 19
Views: 784

Re: Walk me through donating appreciated shares (tax question)

To answer your earlier question, this is where I found the minimums and ratios to be too high: https://www.bogleheads.org/wiki/Donor_advised_fund I do not consider 0.6% to be quite high. As for the fund expenses, one can use index funds in the DAF, so expense ratios would be extremely low. Also, I ...
by pshonore
Sat Dec 03, 2016 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Options for selling a house
Replies: 7
Views: 508

Re: Options for selling a house

Perhaps you should hire an appraiser to get a valid written estimate of what your house is worth. You may be able to con an agent into doing this but it probably won't be a formal written appraisal and will be worth what you pay for it.
by pshonore
Fri Dec 02, 2016 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 48
Views: 4256

Re: Not happy with my realtor

Is he helping you sell (in which case you probably have a signed listing contract). If you're buying, how many houses has he shown you?
by pshonore
Thu Dec 01, 2016 3:38 pm
Forum: Personal Consumer Issues
Topic: Covered by two health insurance policies....
Replies: 11
Views: 589

Re: Covered by two health insurance policies....

You may want to read the "Co-ordination of Benefits" clauses in both policies to see who pays how much when there is double coverage.
by pshonore
Wed Nov 30, 2016 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity DAF contribution experience
Replies: 14
Views: 556

Re: Fidelity DAF contribution experience

I've only transferred appreciated Fidelity shares to my Fidelity DAF, and it could not be easier. The process will even ask you if you want to transfer the most appreciated shares. It goes through that day. I've not transferred appreciated Vanguard fund shares to my Fidelity DAF, so I will be curio...
by pshonore
Tue Nov 29, 2016 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: SS COLA and CPI-W Revisions
Replies: 2
Views: 383

Re: SS COLA and CPI-W Revisions

While the COLA for 2017 has been announced at .3%, there could be some technical glitches. Per the BLS, there were errors made in prescription drugs costs including the period of time before and during the 3 month SS COLA calculation period (July-Sept, 2016). This comes from the BLS website: [b]NEW...
by pshonore
Mon Nov 28, 2016 10:28 am
Forum: Personal Finance (Not Investing)
Topic: From no state-tax to state-tax
Replies: 26
Views: 2317

Re: From no state-tax to state-tax

I grew up in NJ, and the majority of my relatives still live there, some across the Delaware in PA as well. My sister in PA tells me that PA, as well as possibly NJ does not allow deductions to IRA sort of things, but by the same token, they don't tax it when it comes out. Here in Illinois, they do...
by pshonore
Mon Nov 28, 2016 9:00 am
Forum: Investing - Help with Personal Investments
Topic: Unrealized losses in traditional IRA?
Replies: 10
Views: 663

Re: Unrealized losses in traditional IRA?

In order to deduct a loss in an IRA of any type, you need basis. Not a problem in a Roth (your contributions and conversions give you basis) but unless you made non-deductible contributions to a Traditional IRA you have no basis. And you must itemize deductions.
by pshonore
Sun Nov 27, 2016 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: Rent paid up front
Replies: 10
Views: 1077

Re: Rent paid up front

I think it would depend on whether the landlord is on a cash basis or accrual basis for paying taxes.
by pshonore
Sun Nov 27, 2016 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Reduce MAGI to capture full child tax credit?
Replies: 21
Views: 2042

Re: Reduce MAGI to capture full child tax credit?

Make sure not to get a state income tax refund. One year I got a small refund that added on my AGI the following year, and it swallowed $50 of a child tax credit which was an added tax of 17% on a $300 refund. Double taxation. :annoyed Also be aware once you are above $130K your tax rate goes down ...
by pshonore
Sat Nov 26, 2016 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Diminished Value: report through own or other party's insurance?
Replies: 5
Views: 495

Re: Diminished Value: report through own or other party's insurance?

Insurance rules and regulations vary widely by state. Your State Insurance Dept is one place to look for the right answer.
by pshonore
Sat Nov 26, 2016 10:07 am
Forum: Personal Finance (Not Investing)
Topic: From no state-tax to state-tax
Replies: 26
Views: 2317

Re: From no state-tax to state-tax

Another tip for those new to the peculiar world of NJ taxes: Unlike nearly all other states with income tax, capital losses can be deducted only against capital gains, and then only in the same year. No carry forwards, and no deductions against other income if losses exceed gains. It does put a cra...
by pshonore
Fri Nov 25, 2016 6:05 pm
Forum: Investing - Help with Personal Investments
Topic: Is it hard to reverse a Roth conversion in the same year?
Replies: 6
Views: 453

Re: Is it hard to reverse a Roth conversion in the same year?

You have until the due date of the return (including any extensions) So that would be Oct 15, 2017. At Fido, you can fill out the form and submit it online. Not sure about other brokers. Are you recharacterizing (reversing) the entire conversion?
by pshonore
Fri Nov 25, 2016 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 22
Views: 3986

Re: Fidelity free Turbotax

I checked my account and just a simple $20 off. It does not seem to include the "basic" edition, which is available for $30 from Amazon. From what I can see, the basic edition includes all the forms I would need, but doesn't include extras like state tax filing, TurboTax advice/suggestion...
by pshonore
Thu Nov 24, 2016 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: LTC Insurance
Replies: 13
Views: 1452

Re: LTC Insurance

Also note that while LTC medical deductions may be a shield from Federal tax, that won't work with a State like CT or other states that start with Federal AGI and have no itemized deductions.
by pshonore
Thu Nov 24, 2016 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 22
Views: 3986

Re: Fidelity free Turbotax

I checked my account and just a simple $20 off. It does not seem to include the "basic" edition, which is available for $30 from Amazon. From what I can see, the basic edition includes all the forms I would need, but doesn't include extras like state tax filing, TurboTax advice/suggestion...
by pshonore
Wed Nov 23, 2016 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Employer re-priced our ISO, what does it truly mean?
Replies: 12
Views: 1161

Re: Employer re-priced our ISO, what does it truly mean?

I seem to recall Apple got into a lot of trouble a few years back for just arbitrarily repricing options.

http://www.bizjournals.com/sanjose/stor ... rial4.html
by pshonore
Wed Nov 23, 2016 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Checking IRS refund applied to next year's return
Replies: 11
Views: 856

Re: Checking IRS refund applied to next year's return

As far as I know, having the refund applied to next year's taxes isn't any more effective than taking the refund and then paying an estimated tax. That is what I do. Since the OP filed late in the year for TY 2015, if the refund, once received, is paid toward this year's estimated tax, wouldn't it ...
by pshonore
Wed Nov 23, 2016 8:19 am
Forum: Investing - Help with Personal Investments
Topic: TLH CA Bond Funds?
Replies: 38
Views: 2109

Re: TLH CA Bond Funds?

I thought almost all bond funds accrue interest daily (TIPs ,Wellesley, Balanced, etc are exceptions). I thought the rule was funds had to DECLARE interest daily in order the avoid the six month rule. There is a difference.
by pshonore
Tue Nov 22, 2016 4:14 pm
Forum: Personal Consumer Issues
Topic: Replacement Sofa Cushions
Replies: 14
Views: 1102

Re: Replacement Sofa Cushions

Have you tired local "fabric/sewing" stores? Some carry decent foam products and will even cut it to size. Plus you can sit on it and judge for yourself how comfortable or if is a good replacement for the original.
by pshonore
Tue Nov 22, 2016 10:56 am
Forum: Personal Consumer Issues
Topic: Owning a Chromebook
Replies: 77
Views: 8234

Re: Owning a Chromebook

Chromebook owner since their inception. Using an Asus at the moment. Others have explained in detail all the good points. I use it all the time. If I could access quicken with it , I wouldn't need a windows machine. :happy You evidently can http://www.usatoday.com/story/tech/2016/08/20/google-opens...
by pshonore
Tue Nov 22, 2016 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Prepaying 2017 state/local taxes before end of 2016
Replies: 25
Views: 1917

Re: Prepaying 2017 state/local taxes before end of 2016

There are a lot of things people do that the IRS doesn't catch. Does this mean its ok? Of course not, it just means the IRS did not examine your return in detail. In order to be deductible, a tax must be imposed on the taxpayer. Since you haven't earned the income yet, how can the tax be imposed? W...
by pshonore
Tue Nov 22, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Prepaying 2017 state/local taxes before end of 2016
Replies: 25
Views: 1917

Re: Prepaying 2017 state/local taxes before end of 2016

Schedule A instructions for line 5 only indicate current or prior years are deductible in the example.. I would be cautious of future years and trying to defend that if audited. I don't read the instructions that way at all. The paragraph I see as relevant is: [You may deduct] State and local estim...
by pshonore
Mon Nov 21, 2016 6:24 pm
Forum: Investing - Theory, News & General
Topic: Tax loss BMBIX
Replies: 5
Views: 531

Re: Tax loss BMBIX

These kinds of questions can be answered by looking at the Prospectus:

http://content.rwbaird.com/BairdFunds/P ... pectus.pdf (page 104)
by pshonore
Mon Nov 21, 2016 11:47 am
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 117
Views: 8997

Re: TaxAct pre-purchase discount

https://www.taxact.com/tax-preparation/ Says that for the download version it is $28 for 5 federal/one state. Am I missing something? State e-file is extra, but you can mail it in for postage cost :) I think the $10.50 is for the Online version of Plus; $28 for the download version. Hopefully I am ...
by pshonore
Mon Nov 21, 2016 11:00 am
Forum: Investing - Help with Personal Investments
Topic: When to cash out state pension?
Replies: 16
Views: 1688

Re: When to cash out state pension?

She may have after tax contributions to her pension that should be considered. That means some portion of her pension will be federal tax free. It would also give a her a basis if she rolled the lump sum to an IRA. Just another complication.
by pshonore
Sun Nov 20, 2016 9:50 am
Forum: Personal Finance (Not Investing)
Topic: IRS quarterly estimated tax payments
Replies: 19
Views: 1728

Re: IRS quarterly estimated tax payments

Is this true in the case where a penalty was applied and a Form 2210 could demonstrate that no penalty was warranted? If the IRS computes an underpayment penalty and bills you for it, you can simply submit a letter of response that attaches a 2210 you filled out to show that you believe one of the ...
by pshonore
Fri Nov 18, 2016 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 52054

Re: Changes to Social Security

I believe if you turn 62 prior to 1/2/16, you can still do a deemed restricted filing (only for spousal) at FRA.(provided spouse is collecting their benefit) The intent of what I believe you are trying to say is correct but your terminology is not. I have corrected it in red above. Thanks, your cor...
by pshonore
Fri Nov 18, 2016 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 52054

Re: Changes to Social Security

I believe if you turn 62 prior to 1/2/16, you can still do a deemed filing (only for spousal) at FRA.(provided spouse is collecting their benefit)
by pshonore
Fri Nov 18, 2016 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 52054

Re: Changes to Social Security

I know that this is an old thread but I wanted to make sure my understanding is correct. We are still many years away from collecting social security (I'm 52 and hub is 58). We plan to wait until he is 70 to collect at which time I will be 64. Our amounts should be pretty much the same. Once he fil...
by pshonore
Fri Nov 18, 2016 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Help me to understand part-year resident state tax obligation
Replies: 34
Views: 2080

Re: Help me to understand part-year resident state tax obligation

Come on people...here I thought I had resolved everything and now I'm confused again. :annoyed He is not a part year resident of X, he is a non-resident. Two different reps of state X's dept. of revenue say he is a resident, according to their criteria. They said he should fill out a resident retur...
by pshonore
Fri Nov 18, 2016 9:52 am
Forum: Personal Consumer Issues
Topic: Hardwood Floor - purchasing options
Replies: 25
Views: 2592

Re: Hardwood Floor - purchasing options

Lumber Liquidators - wasn't there a problem with them a while ago? They did have problems with their laminates/engineered flooring made in China having levels of formaldehyde fumes way above recommended levels. Not much of their laminates/engineered stuff is made in the U.S. Their solid wood produc...
by pshonore
Fri Nov 18, 2016 9:09 am
Forum: Investing - Help with Personal Investments
Topic: Fidelity Index Fund - need help!
Replies: 14
Views: 1094

Re: Fidelity Index Fund - need help!

Have you considered the IXUS IShares ETF at Fidelity? No commission if your account is at Fido.
by pshonore
Fri Nov 18, 2016 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Help me to understand part-year resident state tax obligation
Replies: 34
Views: 2080

Re: Help me to understand part-year resident state tax obligation

He is not a part year resident of X, he is a non-resident. If he was part year resident, he would taxes to X for any income earned while he was living there, including investment income. He should only owe taxes to X for wages earned there. He also owes tax (as a resident) to Y and most states give ...
by pshonore
Thu Nov 17, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Tax Software recommendations?
Replies: 15
Views: 1377

Re: Tax Software recommendations?

What kind of K1 are we talking about? If, for example, you're investing in MLPs, TT (and not the online version) is by far the best choice. Which TT version to cover MLPs? How do you deal with the state taxation issue? (i am assuming you invest in MLP's) In the past I've used Basic and Deluxe. Ther...
by pshonore
Thu Nov 17, 2016 9:19 am
Forum: Investing - Help with Personal Investments
Topic: 1031 exchange - need feedback quickly
Replies: 33
Views: 2105

Re: 1031 exchange - need feedback quickly

I have never heard of or seen "1031"s or "DST"s mentioned here. Be afraid. But good luck. i am not familiar with DST's but 1031's are common: https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031 they are useful for realestate investors. my understanding of a common u...
by pshonore
Wed Nov 16, 2016 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Tax credit question
Replies: 6
Views: 561

Re: Tax credit question

I am eligible for a $1350 tax credit in 2016 because I had energy efficient Windows installed. So will I get $1350 back next year on my taxes. If I do then it is free money because it cost me 0 to install these windows. Is my thinking correct? How are you figuring $1350? My understanding is the max...
by pshonore
Wed Nov 16, 2016 10:00 am
Forum: Investing - Theory, News & General
Topic: Download quotes to excel spreadsheet
Replies: 26
Views: 1810

Re: Download quotes to excel spreadsheet

Here's a simple function to retrieve Price. Definitely works in Office 2007 and 2010 and here is also version for 2013

http://www.parago.de/blog/2009/01/07/up ... -2007.html
by pshonore
Wed Nov 16, 2016 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Tax Software recommendations?
Replies: 15
Views: 1377

Re: Tax Software recommendations?

What kind of K1 are we talking about? If, for example, you're investing in MLPs, TT (and not the online version) is by far the best choice.
by pshonore
Tue Nov 15, 2016 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Software recommendations?
Replies: 15
Views: 1377

Re: Tax Software recommendations?

I was in same position as you 3 years back and experimented with all the Tax Software on offer from free to paid. What I found was that the only one that made everything really really easy and simple was TurboTax Premier version. The reason was that when it comes to imputing the K1 details it was t...
by pshonore
Mon Nov 14, 2016 5:38 pm
Forum: Personal Consumer Issues
Topic: Hardwood Floor - purchasing options
Replies: 25
Views: 2592

Re: Hardwood Floor - purchasing options

A lot of carpet is installed over underlayment (a kind of particle board) which is nailed to the subfloor which is normally plywood or OSB. It's probably a good idea to remove the underlayment as its nail holding ability is not the best. That may cause gaps at the bottom of the doors. I bought pre-f...
by pshonore
Sun Nov 13, 2016 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: Paying for Healthcare: Questions regarding HSA, FSA etc
Replies: 4
Views: 672

Re: Paying for Healthcare: Questions regarding HSA, FSA etc

You can deduct unreimbursed health expenses, but only to the degree that they exceed 10% of your AGI. Also, in any year that you claim an expense deduction you can not make qualified HSA withdrawals. So if I have an HSA with 5K in it and I have 20K in medical expenses, I cannot withdraw the 5K from...
by pshonore
Sun Nov 13, 2016 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Software recommendations for form 1120S (S Corp)
Replies: 5
Views: 419

Re: Software recommendations for form 1120S (S Corp)

The Business versions of Turbo Tax (will do estates, trust, partnerships, etc) and Tax Act both can do this. Widely available in stores (TT) and online.
by pshonore
Sun Nov 13, 2016 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax 2016 purchase source
Replies: 35
Views: 3804

Re: Turbo Tax 2016 purchase source

All H&R software products include 5 federal e files. However, every state e filing costs extra and the cost is higher for online versions. https://www.hrblock.com/tax-software/index.html?otppartnerid=9007&campaignid=ps_mcm_9007_0048&omnisource=GGL%7CCAMPSitelink%7CADGPSitelink%7CKWRD%2B...
by pshonore
Sat Nov 12, 2016 5:11 pm
Forum: Personal Consumer Issues
Topic: paying medical premium with credit card
Replies: 16
Views: 1293

Re: paying medical premium with credit card

My electric company (Eversource) will not take a credit card. Most governments assess a service fee if you use one. Probably the credit card fees got too high for your insurance carrier.

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