Search found 28 matches

by schutzk21
Mon Jan 23, 2017 1:53 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

Thanks, everyone! That all helps a ton. When I get home tonight I am going to see if I can enter everything correctly this time.
by schutzk21
Mon Jan 23, 2017 1:08 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

I will try putting in the $273 when it asks what the basis is. If I didn't get your help on this, how would someone know what the basis is if it doesn't show on their tax form? The basis just basically means how much was contributed? Is it okay that I am putting the $273 amount in if was for the 201...
by schutzk21
Mon Jan 23, 2017 1:03 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

Is there a reason the 1099-R would have the X marked off for taxable amount not determined? Wouldn't this box be the $9?
by schutzk21
Mon Jan 23, 2017 12:48 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

So I just looked and ALL of my contributions to my ROTH were for 2015. This was done in 2016, though.
DSInvestor- All the HR Block software prompted me was to enter what the boxes show. Do I do anything with the 5498 form that is dated for the 2015 tax year?
by schutzk21
Mon Jan 23, 2017 12:41 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

Box 5 is empty.
by schutzk21
Mon Jan 23, 2017 12:40 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

The code for box 7 is a "J". I do not believe I checked off the money was returned in 2017. It was returned to me in the same year I deposited it, would that change anything? Does the box stating "taxable amount not determined" mean anything?
by schutzk21
Mon Jan 23, 2017 12:31 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

DSInvestor- I did not receive an 8606 form from Vanguard. The only forms I have received are the 1099-R for 2016 and 5498 form for 2015. pshonore- Yes, it does have the X in the Taxable amount not determined Box 2b. In the HR block software, it does not ask how much of the money is in capital gains....
by schutzk21
Mon Jan 23, 2017 12:09 pm
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

Re: ROTH IRA Early Withdrawal and taxes

This is interesting then. My tax form from Vanguard shows the full amount (contributions and gains) for taxable amount. I am being taxed on the FULL amount.
by schutzk21
Mon Jan 23, 2017 11:36 am
Forum: Investing - Theory, News & General
Topic: ROTH IRA Early Withdrawal and taxes
Replies: 33
Views: 1111

ROTH IRA Early Withdrawal and taxes

Hello everyone, I opened a Roth IRA in 2016 and contributed about $273. Over time, I made about $9 in capital gains. I then decided paying off debt was more important, so I sold my ETF shares in my Roth and put all the money I contributed plus the capital gains I made in my checking account. So my q...
by schutzk21
Fri Jan 13, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: What else can I do with my job experience
Replies: 14
Views: 1522

Re: What else can I do with my job experience

Wow, some great responses here. Thank you all for your advice and assistance. It is tough, I love what I do but I believe there isn't a huge industry for the type of work I am involved with. It would be nice to stay in the pension fund industry, but there isn't much out there. It would be ideal to s...
by schutzk21
Thu Jan 12, 2017 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: What else can I do with my job experience
Replies: 14
Views: 1522

Re: What else can I do with my job experience

We are a pension fund and we have members that contribute to the fund. When they are ready to retire, I pay their pension claim based on table factors created by actuaries. We use formulas to decide how much their monthly pension will be. I apologize for not bein clear on this.
by schutzk21
Thu Jan 12, 2017 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: What else can I do with my job experience
Replies: 14
Views: 1522

What else can I do with my job experience

Hello everyone. Hope you are all doing well. I had a question regarding my current position and was wondering if I can get some advice. I have been working for a pension fund for three years. My main job functions are analyzing member contributions and service, and then paying out their retirement c...
by schutzk21
Thu Jan 12, 2017 10:35 am
Forum: Personal Consumer Issues
Topic: Question regarding data mining
Replies: 9
Views: 846

Re: Question regarding data mining

fishboat- thank you so much for that response. That definitely helps a ton. Do you believe someone getting that type of masters degree or wanting to pursue it need to have a great understanding of statistics and coding? If there isn't a bunch of knowledge there, is it not worth trying to get into?
by schutzk21
Wed Jan 11, 2017 10:36 pm
Forum: Personal Consumer Issues
Topic: Question regarding data mining
Replies: 9
Views: 846

Question regarding data mining

Hello all, I hope this question fits this forum, so I apologize if it doesn't. I am looking to learn a specific skill with some free time, and after doing a little bit of research, I want to try to learn about data mining and data science. Does anyone have experience with this? If so, is there a pro...
by schutzk21
Wed Jan 11, 2017 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Ace$- Thank you for the advice. I will definitely take this into consideration. As far as refinancing, I would want to refinance to a 15 year loan and not start back up at 30. We have been in our house for about 2.5 years now so I am unsure if the value of our house has gone up enough to avoid the P...
by schutzk21
Wed Jan 11, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Saving$- this is VERY useful information. Thanks so much for that. My only question is, as I am new to Roth IRA's, you mention to put my EF into that. By simply transferring the EF money into the Roth, does that work? Do I have to invest that money in anything, or can it just sit in the money market...
by schutzk21
Tue Jan 10, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Carl- there is a chance that my salary can be bumped a bit, just because having a degree MAY open up some new jobs. I am currently waiting to hear back on a position that would pay 7-9K more yearly. I interviewed, and just waiting to hear from them. As far as my current employer, it opens up other j...
by schutzk21
Tue Jan 10, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Jack- you suggest not contributing to the Roth even though I have zero in that account now? Granted, I have my employer's pension fund with about 6K into that and my wife contributes to her 401(k). I can't wait for all of this to be gone!
by schutzk21
Tue Jan 10, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

I apologize for the double post, but does anyone know if there is a way I can get my PMI removed? I know some people are able to negotiate and not have the PMI at all before they get their mortgage. Is there a way you can do this after it has already been put into place? Or is the only way getting t...
by schutzk21
Tue Jan 10, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Another update- my wife and I have decided to hold the rest of our cash for now and start paying extra towards my student loan, PMI, and car payment number 1. After all my budgeting, we probably can take $1000 each month and put it towards debt and investments. Car payment 1: $255 + $45= $300 each m...
by schutzk21
Mon Jan 09, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

new2bogle- I understand your point here. I am just not sure what skills/training I can get towards investing in myself. It seems like employers want experience in a certain field before anything else. I currently work for a pension fund and would like to do something along the finance field, whether...
by schutzk21
Mon Jan 09, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

So would you recommend doing $300 on car loan #1, and then attack the student loan along with starting investing? I want to do 15% of my gross income, but I feel like I should at pay off my student loan and get my PMI out of the way before I do the full 15%.
by schutzk21
Mon Jan 09, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Carl, that is a great point. I never thought of that. *So just an update. I took everyone's advice into account, and it seems like the most common advice was to pay off the Best Buy card completely. I just made a payment for the full amount this morning, so that is now GONE and it feels great. I am ...
by schutzk21
Sun Jan 08, 2017 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

So my degree is in Business Administration with a Concentration in Finance. I have one more semester left and I will have my Bachelors Degree. My employer has been paying for all tuition the last two years. I have the $6250 loan from before I started with this employer. I plan on going further with ...
by schutzk21
Sat Jan 07, 2017 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

Novine- Our interest for the home loan is 4.375% and our PMI is about $95 each month.
by schutzk21
Sat Jan 07, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

First, set aside at least $1000 for EF. If you already have an EF, great. Debt order: Best Buy immediately. Student loan Start investing at this point if you haven't already*. Car loan 1- I would pay $300/month when above debt is done. Car loan 2- don't accelerate. Is there a reason why you reccomm...
by schutzk21
Sat Jan 07, 2017 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Re: Help with paying off debt

I totally failed to mention that we have about 19k in cash. We had about 8k in the bank until we recently received a life insurance benefit from a family member that passed. I think what we have in our account will be kept as our EF. I opened a Roth Ira on vanguard for myself a few months ago but ha...
by schutzk21
Sat Jan 07, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 3991

Help with paying off debt

Hello everyone, This is my first post. I have been floating around the forums on this site for quite a while, and I figured now is the time to see if I can get some help. My wife and I make about 88K per year- gross. This comes out to about $4700 take home pay each month. Our bills are as follows: M...

Go to advanced search