Search found 153 matches

by radnor
Mon Mar 19, 2018 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Just received a K1 form, but already filed
Replies: 2
Views: 390

Just received a K1 form, but already filed

In 2017 I bought an ETF and sold it a few days later for a grand total of $3 in capital losses. I recently filed my taxes, using the 1099B from the brokerage, but just today got the K1 for that ETF in the mail (which I was not expecting, of course). I have heard that the K1 information is the same a...
by radnor
Fri Mar 16, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to keep track of Roth cost basis?
Replies: 13
Views: 2046

How to keep track of Roth cost basis?

I have four different ways that I contribute or have contributed to Roth accounts: Normal straight contributions to a Roth IRA ($5,500 every year) Mega-backdoor Roth contributions (i.e., make after-tax contributions to my 401k and then immediately roll them over into a Roth IRA at the same brokerage...
by radnor
Thu Mar 01, 2018 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Which banks are in Massachusetts?
Replies: 3
Views: 627

Re: Which banks are in Massachusetts?

Presumably related to interest income treatment? This page may help: http://www.mass.gov/dor/individuals/filing-and-payment-information/guide-to-personal-income-tax/massachusetts-income/interest-income-qualifying-as-massachusetts-bank-inte.html Thanks, but they don't define what "Massachusetts bank...
by radnor
Sun Feb 25, 2018 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Which banks are in Massachusetts?
Replies: 3
Views: 627

Which banks are in Massachusetts?

In filing my 2017 Massachusetts tax returns, I need to know which of my banks are "Massachusetts" banks. One of them is a national chain not based in MA but with physical MA branches, so I assume that this is considered a "Massachusetts" bank. The other two, I am not sure; Capital One: Based outside...
by radnor
Sat Feb 10, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to enter tax information for forms that I don't have?
Replies: 20
Views: 1551

Re: How to enter tax information for forms that I don't have?

I find it difficult to believe the bank did not send a 1099-Int to you for 300 bucks. 10.00 or less yes. I would contact them :happy https://ttlc.intuit.com/questions/2709531-if-i-received-less-than-10-of-interest-from-my-credit-union-do-i-need-to-declare-it-it-looks-like-they-are-not-required-to-s...
by radnor
Sat Feb 10, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to enter tax information for forms that I don't have?
Replies: 20
Views: 1551

How to enter tax information for forms that I don't have?

For example, I earned $300 interest from a bank, but they did not provide a 1099-INT. Do I "pretend" that I received it, and fill out the form as if I did, or should I list the amount as "other income?"
by radnor
Sat Feb 10, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about tax form 1099-G
Replies: 3
Views: 601

Confused about tax form 1099-G

I am doing my taxes using tax software, and it is asking for the amount in Box 2 on form 1099-G (state or local tax refunds you received from your state). I am assuming that this refers to the 2016 tax year. However, there are two problems: I never received a 1099-G I actually owed $20 in state taxe...
by radnor
Thu Feb 08, 2018 6:58 am
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay taxes on a bank checking account bonus?
Replies: 16
Views: 2378

Re: Do I have to pay taxes on a bank checking account bonus?

michaeljc70 wrote:
Wed Feb 07, 2018 11:44 pm
I wouldn't be surprised if you still got a 1099 from them in the next week or so. Was it a small bank?
No, it's a major national chain.
I guess I'll wait a couple of weeks just in case.
by radnor
Wed Feb 07, 2018 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay taxes on a bank checking account bonus?
Replies: 16
Views: 2378

Do I have to pay taxes on a bank checking account bonus?

In 2017, I opened a checking account at a bank and jumped through a few hoops to ultimately earn a $300 bonus paid from the bank directly into the account. Later in 2017, I withdrew all of the funds and closed the account. A few days ago, I visited a branch of the bank to ask about tax forms because...
by radnor
Mon Jan 01, 2018 6:53 pm
Forum: Investing - Help with Personal Investments
Topic: Can 401k contributions affect traditional IRA deductiblity limits?
Replies: 2
Views: 252

Re: Can 401k contributions affect traditional IRA deductiblity limits?

pobox2001 wrote:
Mon Jan 01, 2018 1:26 pm
Yes.

pobox2001
Thanks. Do you happen to have a link to the IRS documentation that says so?
by radnor
Mon Jan 01, 2018 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: Can 401k contributions affect traditional IRA deductiblity limits?
Replies: 2
Views: 252

Can 401k contributions affect traditional IRA deductiblity limits?

I have a friend who earns about $75K annually and wants to know if he can contribute to a traditional IRA (as opposed to a Roth IRA). According to this , the tax deductibility phase-out begins at $63,000 and finishes at $73,000, so this would appear to suggest that the answer is no. HOWEVER, my frie...
by radnor
Thu Dec 28, 2017 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Do Vanguard, Fidelity, and/or Schwab have an API?
Replies: 2
Views: 1051

Do Vanguard, Fidelity, and/or Schwab have an API?

I'd like to know if it is possible to programmatically log in to check account balances using something like a Python script. Does anyone happen to know?
by radnor
Tue Dec 26, 2017 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Placing majority of money in CDs soon before retirement?
Replies: 7
Views: 1377

Placing majority of money in CDs soon before retirement?

I'm asking for a friend, who is about 7 years from retirement. He currently has nearly all of his money in checking and savings accounts, and wants to switch to using mostly CDs. He's asked for my advice on whether this is a good idea, as opposed to something else (e.g. bonds, treasury bills, etc.)....
by radnor
Sun Dec 10, 2017 1:19 am
Forum: Investing - Theory, News & General
Topic: Tax reform and mega backdoor Roth
Replies: 4
Views: 895

Tax reform and mega backdoor Roth

Does anyone know how tax reform will affect one's ability to do this?
by radnor
Tue Dec 05, 2017 9:30 am
Forum: Personal Consumer Issues
Topic: Valuing today's money in terms of future invested value?
Replies: 6
Views: 365

Re: Valuing today's money in terms of future invested value?

lthenderson wrote:
Tue Dec 05, 2017 9:26 am
FV=PV(1+rate of return)^n (number of periods)

So in your case 4000(1.07)^39 = $55,979
Hah, I must have typed it in to my calculator wrong. Still, though...
by radnor
Tue Dec 05, 2017 9:16 am
Forum: Personal Consumer Issues
Topic: Valuing today's money in terms of future invested value?
Replies: 6
Views: 365

Valuing today's money in terms of future invested value?

I've been thinking about spending $4,000 on a luxury item / "toy" (e.g. a gaming PC). $4,000 is a relatively small portion of my income and I am already saving/investing more than 50%, so I can technically afford it. However, I am thinking about what it would be worth in around 40 years, when I reti...
by radnor
Sat Nov 11, 2017 6:42 pm
Forum: Investing - Help with Personal Investments
Topic: Mega backdoor Roth - do both employer contributions and matching count toward the annual limit?
Replies: 5
Views: 608

Re: Mega backdoor Roth - do both employer contributions and matching count toward the annual limit?

I am trying to maximize my mega backdoor Roth for 2017, and understand that the total combined 2017 IRS limit for all employee 401k contributions (including pre-tax, Roth, and, of course, after-tax) plus employer contributions/matching is $54,000 (by the way, I've never actually seen an official IR...
by radnor
Sat Nov 11, 2017 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: Mega backdoor Roth - do both employer contributions and matching count toward the annual limit?
Replies: 5
Views: 608

Mega backdoor Roth - do both employer contributions and matching count toward the annual limit?

I am trying to maximize my mega backdoor Roth for 2017, and understand that the total combined 2017 IRS limit for all employee 401k contributions (including pre-tax, Roth, and, of course, after-tax) plus employer contributions/matching is $54,000 (by the way, I've never actually seen an official IRS...
by radnor
Sat Nov 04, 2017 6:45 pm
Forum: Investing - Help with Personal Investments
Topic: How to keep track of Roth cost basis with regard to rollovers?
Replies: 3
Views: 693

How to keep track of Roth cost basis with regard to rollovers?

I may in the future withdraw some of my Roth contributions, as is allowed by IRS rules. In terms of actually knowing what percentage of my total Roth money is composed of contributions: * For regular/direct yearly contributions, this is trivial, as my broker (obviously) keeps the records of my contr...
by radnor
Wed Nov 01, 2017 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Switching to HSA health plan in middle of 2018 - can I open an HSA now?
Replies: 6
Views: 642

Switching to HSA health plan in middle of 2018 - can I open an HSA now?

I'll be turning 26 in August 2018, when I will switch from my parent's health plan to the HSA-based one being offered at my work (I believe that this is fine, since turning 26 is a "qualifying event," right?). My question is: can/should I open an HSA at some point before that? I just want to make su...
by radnor
Wed Oct 25, 2017 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Switching health insurance mid-year?
Replies: 6
Views: 700

Re: Switching health insurance mid-year?

2) Can you define what you mean by an "inferior" HDHP/HSA plan? Is the issue that the premiums aren't much less but that there's a much higher deductible, or just that it does have the very high deductible? Many people here like HDHP/HSA plans due to the HSA's ability to serve as a savings vehicle,...
by radnor
Wed Oct 25, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Switching health insurance mid-year?
Replies: 6
Views: 700

Switching health insurance mid-year?

I'm currently on my father's health insurance (that he receives through his job), but will turn 26 in August 2018, upon which point I will no longer be able to be on his plan. My own employer's benefits open enrollment period has started, and they only offer (inferior) high-deductible HSA-based plan...
by radnor
Fri Oct 20, 2017 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I apply for financial aid if my company reimburses tuition?
Replies: 10
Views: 978

Should I apply for financial aid if my company reimburses tuition?

I'll be going to grad school part time next year (hopefully...), and my company reimburses tuition. I was wondering if it would be the "right" thing to do to apply for financial aid so that the company doesn't spend as much money.
by radnor
Sun Oct 08, 2017 9:54 am
Forum: Personal Consumer Issues
Topic: Goldman Sachs Bank website always down?
Replies: 1
Views: 570

Goldman Sachs Bank website always down?

It seems to be "under maintenance" about 70% of the time. I was going to open a 2.45% CD with them, but this caused me to change my mind. I guess that I'm just venting.
by radnor
Mon Sep 25, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Was an authorized user on parent's credit card from 2012 to 2014 - should this show up on my credit report?
Replies: 6
Views: 1015

Was an authorized user on parent's credit card from 2012 to 2014 - should this show up on my credit report?

From 2012 to 2014, I was an authorized user on my father's credit card (he opened it in 2001 and it is still open). This doesn't show up at all on my Equifax or TransUnion credit reports, but it does show up as a "current" card (listed as opened in 2001) on my Experian report. My question is: should...
by radnor
Mon Sep 04, 2017 8:53 am
Forum: Investing - Theory, News & General
Topic: Do fund growth charts take into account distributions / dividends?
Replies: 3
Views: 471

Do fund growth charts take into account distributions / dividends?

Does a growth / historical value chart for a fund like Vanguard's Total Bond Market Fund (VBMFX) include only the price of the shares, or does it take into account the actual distributions as well? Similarly, what about charts for stock funds and dividends?
by radnor
Sat Sep 02, 2017 6:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vangard Index Fund through Merrill Edge
Replies: 26
Views: 2954

Re: Vangard Index Fund through Merrill Edge

Why not open a Vanguard IRA instead?
by radnor
Fri Sep 01, 2017 7:47 am
Forum: Investing - Help with Personal Investments
Topic: What happens if I over-contribute on a mega-backdoor Roth?
Replies: 2
Views: 424

What happens if I over-contribute on a mega-backdoor Roth?

I've maxed out my pre-tax 401k ($18k) and am currently contributing to a mega-backdoor Roth IRA (i.e., make after-tax 401k contributions, and then roll them over to a Roth IRA). What happens if I accidentally overrun the $54k total me+employer contribution limit for this year?
by radnor
Sat Aug 12, 2017 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Asset allocation and tax treatment
Replies: 5
Views: 709

Asset allocation and tax treatment

My current asset allocation is 60% U.S. stocks and 40% international stocks. However, I hold different parts of my portfolio in pre-tax, Roth, and taxable accounts. Since, for example, Roth money is "more valuable" (since it has already been taxed) than pre-tax money, should I try to take this into ...
by radnor
Tue Aug 01, 2017 7:37 pm
Forum: Investing - Help with Personal Investments
Topic: Any issues with rollovers from Fidelity to Vanguard?
Replies: 19
Views: 2042

Re: Any issues with rollovers from Fidelity to Vanguard?

The number one danger in any transfer is being forced to cash, and being out of the market. Transfer in kind whenever possible, but I realize sometimes it's just not possible, in which case you want to minimize time out, maybe break into smaller chunks, and try to forsee any screwups before they ha...
by radnor
Tue Jul 11, 2017 6:59 pm
Forum: Investing - Help with Personal Investments
Topic: So I found an ETF with an over-9% expense ratio...
Replies: 11
Views: 1238

Re: So I found an ETF with an over-9% expense ratio...

LiveSimple wrote:Dealing with Business development companies.

Sailing there are all these company yachts !!!

By the way, how do you land on this "Gold Mine" :oops:
I did a web search for "highest mutual fund expense ratios" out of sheer boredom. :D
by radnor
Tue Jun 27, 2017 7:50 am
Forum: Investing - Help with Personal Investments
Topic: Advice for relative with mostly cash and 7-10 years to retirement?
Replies: 25
Views: 2696

Re: Advice for relative with mostly cash and 7-10 years to retirement?

whodidntante wrote:What's the reason this person has so much cash? Is it ignorance of better options? Distrust of those options? Extreme risk aversion?
It's mostly distrust of the stock market in general and a high degree of risk aversion.
by radnor
Sat Jun 24, 2017 7:21 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for relative with mostly cash and 7-10 years to retirement?
Replies: 25
Views: 2696

Re: Advice for relative with mostly cash and 7-10 years to retirement?

I could not ethically encourage somebody to use a financial advisor if they were expressing interest in managing their own finances. That said, you are right to step out of the process. Give them the Bogleheads book, warn them about the consequences to their portfolio if the market crashes, etc. Te...
by radnor
Sat Jun 24, 2017 5:14 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for relative with mostly cash and 7-10 years to retirement?
Replies: 25
Views: 2696

Advice for relative with mostly cash and 7-10 years to retirement?

I have a relative who has about $400k, about 75% of which is cash. I've managed to successfully convince them that they need more stocks and bonds, and, roughly following the allocation of the relevant Vanguard target retirement funds, naively suggested something like $175K stocks, $175K bonds, and ...
by radnor
Fri Jun 23, 2017 8:01 pm
Forum: Personal Consumer Issues
Topic: Part-time computer science graduate schools in Boston area?
Replies: 26
Views: 3193

Re: Part-time computer science graduate schools in Boston area?

I took night and online classes at Harvard Extension, but it was >10 years ago. Most classes are not taught by Harvard faculty, but by a practicing professional rather than a professor. They are also more practical (less theoretical) than the classes you would take in an undergraduate or graduate C...
by radnor
Wed Jun 21, 2017 8:18 pm
Forum: Personal Consumer Issues
Topic: Part-time computer science graduate schools in Boston area?
Replies: 26
Views: 3193

Re: Part-time computer science graduate schools in Boston area?

Check out Georgia Tech's online Computer Science Master's program. If you're going to get a degree, it might as well be from one of the top CS schools in the country. The online master's is equivalent to the on campus version, there is no distinction in the diploma awarded, and you can even walk in...
by radnor
Wed Jun 21, 2017 7:58 pm
Forum: Personal Consumer Issues
Topic: Part-time computer science graduate schools in Boston area?
Replies: 26
Views: 3193

Re: Part-time computer science graduate schools in Boston area?

Oh, I should have mentioned that my employer does re-imburse tuition, so cost is not a factor.
by radnor
Mon Jun 19, 2017 5:45 pm
Forum: Personal Consumer Issues
Topic: Part-time computer science graduate schools in Boston area?
Replies: 26
Views: 3193

Part-time computer science graduate schools in Boston area?

I live near Boston and want to take evening and/or online classes for a computer science M.S. So far, I've looked at: Tufts Northeastern (College of Professional Studies) (which does not appear to have C.S. as a graduate major) Harvard (Extension School) (which apparently bills its degrees as "Maste...
by radnor
Mon May 15, 2017 6:49 pm
Forum: Personal Consumer Issues
Topic: Checking account bonus churning and security clearance?
Replies: 4
Views: 795

Checking account bonus churning and security clearance?

Let's say that I will be applying for a security clearance soon; should I abstain from checking account bonus churning (i.e., open account, perform required actions, receive bonus, close account), or do they not care? I realize that this is a very specific question, but am asking just in case anyone...
by radnor
Sat May 13, 2017 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Are bank test deposits taxable?
Replies: 22
Views: 3226

Re: Are bank test deposits taxable?

Earlier this year, I linked a second bank account with my main account, and my main bank made (but did not ever withdraw) two test deposits totaling $0.22. Will I need to report this on my 2017 taxes? They take it back so I would say no. Nope, my bank didn't (and even confirmed that they wouldn't).
by radnor
Fri May 12, 2017 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Are bank test deposits taxable?
Replies: 22
Views: 3226

Re: Are bank test deposits taxable?

douginct wrote:
Eagle4Life wrote:Is this thread a joke?
I sure hope so.
This thread is 95% joke.
by radnor
Thu May 11, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Are bank test deposits taxable?
Replies: 22
Views: 3226

Re: Are bank test deposits taxable?

Generally speaking companies aren't required to issue 1099's for payments to people under $600, and I doubt they report anything to the IRS that doesn't have a 1099 issued for. So basically you're on the honor system here. From a practical POV I believe everything on your taxes is rounded to the ne...
by radnor
Thu May 11, 2017 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Are bank test deposits taxable?
Replies: 22
Views: 3226

Are bank test deposits taxable?

Earlier this year, I linked a second bank account with my main account, and my main bank made (but did not ever withdraw) two test deposits totaling $0.22. Will I need to report this on my 2017 taxes?
by radnor
Wed May 10, 2017 5:54 pm
Forum: Investing - Help with Personal Investments
Topic: Is the expense ratio fee amount shown on my 401k statement?
Replies: 2
Views: 431

Re: Is the expense ratio fee amount shown on my 401k statement?

You're talking about the expense ratio of the fund that you chose to invest in, right? If so, yes, that would be "built-in" to the fund's share price and not listed separately.
by radnor
Sat May 06, 2017 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Should I pay my entire credit card balance if I have 0% APR?
Replies: 4
Views: 564

Should I pay my entire credit card balance if I have 0% APR?

I recently got a credit card that includes a 6-month 0% APR promotion. I definitely can (and always do) simply pay off the entire statement balance each month, but was wondering if, given the promotion, could I somehow benefit from only paying the minimum?
by radnor
Fri May 05, 2017 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for someone 5-10 years away from retirement?
Replies: 1
Views: 559

Advice for someone 5-10 years away from retirement?

I'm advising a friend on how to re-allocate their money from mostly cash to something resembling the Vanguard Target Retirement 2020 fund. Just as a sanity check, it's reasonable for me to suggest that they put nearly all their money into stocks and bonds (in proportions approximately equivalent to ...
by radnor
Tue May 02, 2017 6:00 pm
Forum: Investing - Theory, News & General
Topic: What do bond returns actually look like?
Replies: 19
Views: 3660

What do bond returns actually look like?

Does a bond fund just constantly spit out interest payments? What about an individual bond?
Does does price/NAV usually change significantly?
And is there a difference in what an investor sees in a 401k or IRA vs. a taxable account?

Thanks!
by radnor
Sat Apr 22, 2017 10:34 am
Forum: Personal Consumer Issues
Topic: Six pack for barbecue?
Replies: 77
Views: 7214

Six pack for barbecue?

I've agreed to buy a six-pack of beer for a friend's BBQ tomorrow, but I am not sure what exactly this means. Those who know, could you please help me out with this: Should I buy bottled or canned beer? What kind of beer should it be (Bud Light, or something higher-end/fancier)? There will be just a...
by radnor
Wed Apr 19, 2017 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: Can/should I contribute to an HSA if I already have health insurance?
Replies: 3
Views: 582

Can/should I contribute to an HSA if I already have health insurance?

I work for a company that offers an HSA, but am (still) on my father's PPO health insurance. Can, and if so, should, I contribute money to the HSA solely for retirement savings purposes?