Search found 7584 matches

by tfb
Sun Apr 30, 2017 4:03 pm
Forum: Investing - Theory, News & General
Topic: Myopic Loss Aversion
Replies: 10
Views: 509

Re: Myopic Loss Aversion

Because people don't see your examples as a loss and therefore don't suffer from the myopic loss aversion?

People feel bad about paying taxes on Social Security benefits, forgetting that taxes fund Social Security and Medicare shortfalls to begin with.
by tfb
Sun Apr 30, 2017 3:55 pm
Forum: Investing - Theory, News & General
Topic: Can a custodian do "homecooked" dividend distribution?
Replies: 11
Views: 390

Re: Can a custodian do "homecooked" dividend distribution?

A custodian (e.g. a broker, 401k, HSA, 529 plan etc) may have thousands of account holders each holding thousands of dollars worth of one of these funds, but the custodian may actually just have this all in a single fund (with thousands*thousands=millions of dollars worth of it) and the custodian i...
by tfb
Sat Apr 29, 2017 1:48 pm
Forum: Personal Consumer Issues
Topic: [Southwest] Airlines Rapid Rewards Dining
Replies: 11
Views: 813

Re: [Southwest] Airlines Rapid Rewards Dining

Sounds interesting... if you are already eating at a restaurant and they are on the list might as well get a few points and in this case reset the 24 month clock. But then I started thinking..... how are they doing this? Easy. Participating restaurants send all charges to the program administrator ...
by tfb
Sun Apr 09, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

Note the 2016 Instructions for Form 8606 : Basis. Your basis in traditional IRAs is the total of all your nondeductible contributions and nontaxable amounts included in rollovers made to traditional IRAs minus the total of all your nontaxable distributions, adjusted if necessary (see the instructio...
by tfb
Sun Apr 09, 2017 2:48 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

If we follow that pattern we also know you have to deduct the capital loss up to the $3,000 limit every year. You don't get to choose to skip a year and save it for the future. Actually, you don't have to use any of the capital loss in a given year if your income is low enough. This is, unfortunate...
by tfb
Sun Apr 09, 2017 2:14 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

This seems not much different than a capital loss carryover, that one may use from one year to the next even though the equity that sustained the loss is now completely gone. If we follow that pattern we also know you have to deduct the capital loss up to the $3,000 limit every year. You don't get ...
by tfb
Sat Apr 08, 2017 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

As the OP showed just putting $86 on the previous year's form does not mean it's carried over to the following year. Except the IRS instructions seem unambiguous If you left something in the IRA I bet TurboTax carries it over just fine. It's not like they don't know how to carry it over. Someone we...
by tfb
Sat Apr 08, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Money software user & Chase Bank's discontinuance of its support
Replies: 9
Views: 572

Re: Money software user & Chase Bank's discontinuance of its support

I'm a holdover Money s.w. user. I just learned this morning from Chase's tech team that Chase will no longer support Money in downloading checking account transactions to Money s.w. You can download the Quicken format and import it into Money. With some tweaks you can make it automatic. I saw this ...
by tfb
Sat Apr 08, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

But TT did in fact carry over the basis by putting $86 on line 14 even though the IRA was completely drained. It's a conundrum, Harry. I consider you one of the brightest and most knowledgeable posters on the board, but I cannot seem to grasp your viewpoint on this issue. Its frustrating. And a lit...
by tfb
Sat Apr 08, 2017 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Money software user & Chase Bank's discontinuance of its support
Replies: 9
Views: 572

Re: Money software user & Chase Bank's discontinuance of its support

cjonblanchard wrote:I'm a holdover Money s.w. user. I just learned this morning from Chase's tech team that Chase will no longer support Money in downloading checking account transactions to Money s.w.

You can download the Quicken format and import it into Money. With some tweaks you can make it automatic.
by tfb
Sat Apr 08, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Free FICO score?
Replies: 16
Views: 1054

Re: Free FICO score?

Bank of America, Barclaycard, American Express. No extra signup when you already have a card with them.
by tfb
Sat Apr 08, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to get out of ACA limbo situation?
Replies: 12
Views: 1061

Re: How to get out of ACA limbo situation?

Bottom line question: Can I, in fact, buy through CoveredCA without any advance subsidy or premium reduction and still claim the full subsidy when filing 2017 taxes? Are there any traps I need to watch out for doing this? Yes. However, if you qualify for cost-sharing subsidy (low deductible, copay,...
by tfb
Sat Apr 08, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

I wish we knew the definitive answer to this. Some people say "yes" and some people say "no". And it appears from what has been reported here that different software may give different answers. TurboTax apparently also said "no." It's not a bug. I'd go with it, consist...
by tfb
Tue Apr 04, 2017 9:43 am
Forum: Investing - Help with Personal Investments
Topic: Can I open a traditional IRA (then convert to Roth) if I have a SEP?
Replies: 6
Views: 399

Re: Can I open a traditional IRA (then convert to Roth) if I have a SEP?

2016 was the first year I filed taxes as a 1099 independent contractor. Due to this, I qualified to open a SEP-IRA. I funded the amount I qualified for due to my income and it was a little over $2,000. My question is, can I still open a traditional IRA for the tax year of 2016 despite having a SEP-...
by tfb
Tue Apr 04, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1367

Re: form 8606 basis question.

Is the basis from a loss not allowed to be carried forward? I wish we knew the definitive answer to this. Some people say "yes" and some people say "no". And it appears from what has been reported here that different software may give different answers. TurboTax apparently also ...
by tfb
Sat Apr 01, 2017 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 304
Views: 48688

Re: Bank of America/Merrill Edge - Preferred Rewards

Where can I find the full list of what counts as travel ? https://www.bankofamerica.com/credit-cards/terms-and-conditions/?campaignid=4016361&productoffercode=AF&locale=en_US A travel credit is applied as a statement credit to your account to offset travel Purchases from qualifying merchant...
by tfb
Sat Mar 25, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing HDHP Versus Plan with No Premiums
Replies: 22
Views: 1383

Re: Choosing HDHP Versus Plan with No Premiums

Is it true that if your spouse is on her own employer provided health plan she can also be on your high deductible plan as secondary insurance and by doing so you qualify to contribute the family max rather than individual max to the HSA? Is this unique to your situation or generically true? I swit...
by tfb
Sat Mar 25, 2017 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America bogus late payment fee.[temporary software glitch, gone now]
Replies: 41
Views: 2288

Re: Bank of America bogus late payment fee.

Simply don't cut it too close. This type of automatic payment is supposed to have a guaranteed crediting date. This totally takes the whole timing issue out of the picture. There's no such thing as cutting it close in this kind of setup. Assuming the money is in the bank that I have permitted them ...
by tfb
Sat Mar 25, 2017 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America bogus late payment fee.[temporary software glitch, gone now]
Replies: 41
Views: 2288

Re: Bank of America bogus late payment fee.

They used to have a site choosedirectdebit.bankofamerica.com that would let you set up automatic payments from a checking account at another bank (like it works with a real credit card company)... but, unsurprisingly, they have broken/discontinued this page. It now directs you to log into online ba...
by tfb
Sat Mar 25, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America bogus late payment fee.[temporary software glitch, gone now]
Replies: 41
Views: 2288

Re: Bank of America bogus late payment fee.

Facts: I have a BoA credit card (actually a few). I use BoA's own Bill Pay* to automatically pay the BoA credit card (from another bank). This had been working fine, but this time even though it says $X payment "Processed" on the BoA Bill Pay, and the BoA credit card page has $X "pen...
by tfb
Sat Mar 25, 2017 2:34 pm
Forum: Investing - Theory, News & General
Topic: When can you transfer in kind?
Replies: 23
Views: 1464

Re: When can you transfer in kind?

So my question is, when the time comes, should I expect to be able to transfer out of my 401a, 403b, 457b in kind and not have to go to cash for the transfer? At best it can only be done within the same institution that manages your 401a, 403b, or 457b. I did it at Fidelity, from a Fidelity managed...
by tfb
Sat Mar 25, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing HDHP Versus Plan with No Premiums
Replies: 22
Views: 1383

Re: Choosing HDHP Versus Plan with No Premiums

Here is how I am looking at the benefit of staying on my company's HDHP: For two people: Plan costs $65/month ($780/year), and employer contribution to HSA is $2,200. 25% tax break on remaining $4,550 HSA contribution. Total HSA benefit = $2,200 + ($4,550*0.25) - $780 = $2,557.50 For individual: Pl...
by tfb
Sun Mar 19, 2017 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Paying $20 to E-File State Return
Replies: 75
Views: 12802

Re: Paying $20 to E-File State Return

Old thread, but same question: H&R Block software Deluxe + State - you have to pay $20 to e-file the State return through the program. How many folks here just pay it, file it electronically, and move on with life? how many 'print' the return and mail? Note: not looking for reviews of other pro...
by tfb
Sun Mar 19, 2017 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to report HSA gains in CA return? (H&R block software)
Replies: 19
Views: 1067

Re: How to report HSA gains in CA return? (H&R block software)

For dividends and interest, it's easy. Make a fake 1099DIV entry that is tax-free for federal but taxable for CA. It would basically be the equivalent of dividends/interest from a nationwide muni bond fund. For capital gains, TaxAct allowed me to update line 13 of the CA Adjustment form to make the...
by tfb
Sat Mar 18, 2017 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: How to report HSA gains in CA return? (H&R block software)
Replies: 19
Views: 1067

Re: How to report HSA gains in CA return? (H&R block software)

For dividends and interest, it's easy. Make a fake 1099DIV entry that is tax-free for federal but taxable for CA. It would basically be the equivalent of dividends/interest from a nationwide muni bond fund. For capital gains, TaxAct allowed me to update line 13 of the CA Adjustment form to make the...
by tfb
Sat Mar 18, 2017 1:05 pm
Forum: Investing - Theory, News & General
Topic: DALBAR report methodological flaws - Prof. Pfau
Replies: 29
Views: 2504

Re: DALBAR report methodological flaws - Prof. Pfau

As for me personally, I cannot recall ever having seen it discussed, including here on the forum, prior to Pfau's article. Conversely, I have seen lots of discussion of the point that TFB raised some years ago, which is that investor returns for a DCA'ing investor will be different from investment ...
by tfb
Thu Mar 16, 2017 8:48 am
Forum: Investing - Help with Personal Investments
Topic: Switching to Vanguard
Replies: 7
Views: 635

Re: Switching to Vanguard

Take a look and see if these calculations are correct- Current Portfolio- Initial Deposit 9-16-16 $59582.69 Current Balance 3-15-17 $63802.62 Rate of Return 7.08% Average of Expense Ratios 1.01% AUM Fee 1.0% Net Return 5.07% They don't look correct to me. Are these actual values from your account? ...
by tfb
Thu Mar 16, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Trying to transfer a Roth IRA and this Medallion Signature requirement is driving me nuts!
Replies: 67
Views: 4351

Re: Trying to transfer a Roth IRA and this Medallion Signature requirement is driving me nuts!

So I am at a loss... where do I go to get a Medallion Signature on this Vanguard paperwork, when neither the current brokerage nor the eventual future brokerage have local offices to me, and my local bank where I hold accounts can't do it either? If you have an account with another broker with a lo...
by tfb
Tue Mar 14, 2017 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Advertised jumbo loan from Wells Fargo vs quote from consignment lender
Replies: 3
Views: 283

Re: Advertised jumbo loan from Wells Fargo vs quote from consignment lender

What I want to know is: (a) Is she [lying to us --admin LadyGeek] ; (b) Is she right; and If she's right about the WF advertised rate (4.25%, 0 points, above) being "bait" — what could I realistically expect to get from Wells Fargo? Would the rate + points package I could reasonably expec...
by tfb
Tue Mar 14, 2017 8:25 pm
Forum: Investing - Theory, News & General
Topic: DALBAR report methodological flaws - Prof. Pfau
Replies: 29
Views: 2504

Re: DALBAR report methodological flaws - Prof. Pfau

Here is the older article that Prof. Pfau quoted in his own writeup, making a similar point: https://www.advisorperspectives.com/articles/2014/06/17/a-simple-explanation-for-dalbar-s-misleading-results The latest from Prof. Pfau is much different. I thought it was just an artifact of the sequence o...
by tfb
Sat Mar 11, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: checking account debit at the speed of light
Replies: 14
Views: 1585

Re: checking account debit at the speed of light

There are two types of debits, online debit and offline debit, which have nothing to do with whether you did it online or not. Online debit is immediate. Offline debit takes an authorization first, which you may see as pending, and then the pending becomes real. This provider did an online debit. Mo...
by tfb
Sun Mar 05, 2017 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 1099-R issues
Replies: 3
Views: 519

Re: TurboTax 1099-R issues

Goblue97 wrote:The problem is that I am faking out the software on the "partial recharacterization".

Did others that did this type of transaction on TurboTax handle it the same way?

You break the one 1099-R into two. One 1,696 with no basis to traditional. One 18,429 with the basis to Roth.
by tfb
Sat Mar 04, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: IRA trustee-to-trustee transfer
Replies: 3
Views: 247

Re: IRA trustee-to-trustee transfer

No 1099-R will be issued for transfers. No need to report either.
by tfb
Sat Mar 04, 2017 1:39 pm
Forum: Personal Consumer Issues
Topic: Bank of America vs Chase
Replies: 26
Views: 2271

Re: Bank of America vs Chase

I only use BofA as a conduit for employer direct deposit and paying bills, no mortgage/HELOC or anything. Their website is good IMO. In that case how does the lack of B of A ATMs and branches affect you? Direct deposit still works. Paying bills still works. With the right setup (see Preferred Rewar...
by tfb
Fri Mar 03, 2017 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: To move or not to move (employer sponsored HSA raising wrap fee)
Replies: 5
Views: 336

Re: To move or not to move (employer sponsored HSA raising wrap fee)

True. But I'd have to balance that with Saturna's calendar-year inactivity fee of $25. $12.50 if the account has only mutual funds. So make it one-time $15 vs $56 savings each and every year. That's what I'm afraid of. Thanks for the negative anecdote. That's more inspiration to stay put for a whil...
by tfb
Fri Mar 03, 2017 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: To move or not to move (employer sponsored HSA raising wrap fee)
Replies: 5
Views: 336

Re: To move or not to move (employer sponsored HSA raising wrap fee)

So I'm trying to decide whether the savings is worth the hassle to move my HSA and commit to a program of moving a year's worth of contributions each year. You don't have to move each year. After you build up $2,000 in the 5/3 HSA, you can invest the additional money as you do now. You are then bas...
by tfb
Fri Mar 03, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth tax question
Replies: 16
Views: 587

Re: Mega Backdoor Roth tax question

henry001 wrote:I over contributed $2200.23 in my 401k and requested a roll over of that amount including the capital gains of $90 into my roth IRA.

If you truly over contributed, not just contributed as non-Roth after-tax, excess contributions and earnings are not eligible for a rollover.
by tfb
Fri Feb 24, 2017 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Lousy Customer Service
Replies: 84
Views: 6217

Re: Vanguard Lousy Customer Service

I would move on. Nothing is worth stressing that much over. +1 probably the best thing to do to keep OP's sanity. The OP can't move on as long as the employer chooses to stay with Vanguard. I would offer OP these suggestions: Forget about managing contribution and distribution timing in order to ke...
by tfb
Wed Feb 22, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Alliant Credit Union CD early withdrawal?
Replies: 7
Views: 480

Re: Alliant Credit Union CD early withdrawal?

In light of that, it seems like if you simply opt to receive dividend withdrawals each month, your APY will be 1.835% instead of 1.85%, but there will never be any early withdrawal penalty at any point. Almost all bank CDs work like this. You can have the interest paid out to you. It doesn't count ...
by tfb
Wed Feb 22, 2017 3:51 am
Forum: Personal Finance (Not Investing)
Topic: Tax prep question: H&R Block More Zero
Replies: 6
Views: 634

Re: Tax prep question: H&R Block More Zero

On the 8949 the software produced for me:
- mark a box in line 1
- same contribution number repeated in lines 3, 5, 6, 8, 9, 11
- 0 elsewhere in Part I

That's it.
by tfb
Tue Feb 21, 2017 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Good Advice from Fidelity?
Replies: 7
Views: 1193

Re: Bad Advice from Fidelity?

It sounds like Fidelity gave you good advice. SIMPLE IRA is the best when your husband has two employees. Maybe change the title?
by tfb
Tue Feb 21, 2017 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: Tax prep question: H&R Block More Zero
Replies: 6
Views: 634

Re: Tax prep question: H&R Block More Zero

spencer99 wrote:B) Continue with the free software, but print and mail the return with a Form 8889 I complete on my own.

I would do this. Form 8889 is very simple to fill out in your case. Just remember the amount from your W-2 counts as employer contribution.
by tfb
Mon Feb 20, 2017 6:03 pm
Forum: Personal Consumer Issues
Topic: Cost of tax preparation
Replies: 43
Views: 3464

Re: Cost of tax preparation

For those who think that doing taxes is nothing more than data input, you don't have anything complicated. And that's the point. Reduce it down to nothing more than data input. Don't make it so complicated that you'd require $2,500 worth of professional help every year. Don't get into that K-1 situ...
by tfb
Mon Feb 20, 2017 3:26 pm
Forum: Personal Consumer Issues
Topic: Cost of tax preparation
Replies: 43
Views: 3464

Re: Cost of tax preparation

For those who think that doing taxes is nothing more than data input, you don't have anything complicated. And that's the point. Reduce it down to nothing more than data input. Don't make it so complicated that you'd require $2,500 worth of professional help every year. Don't get into that K-1 situ...
by tfb
Mon Feb 20, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Faith in Vanguard shaken after seeing wrong name on my 1099 & Statements
Replies: 28
Views: 3864

Re: Faith in Vanguard shaken after seeing wrong name on my 1099 & Statements

Vanguard rep wrote:Sorry for the inconvenience on this; I honestly have never seen this.

As we all know many Vanguard reps are relatively new. The account upgrade process is also relatively new. Having never seen this wouldn't be that unusual.
by tfb
Sun Feb 19, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k fidelity tax forms?
Replies: 3
Views: 196

Re: Solo 401k fidelity tax forms?

am wrote:I am responsible for my wife's solo 401k. Am I supposed to receive a tax form or summary of contributions for 2016? I could not find anything on line.

If you are required to file a 5500-EZ it isn't due until July. Fidelity sends out the necessary reports (not tax form) in April.
by tfb
Sun Feb 19, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Retire in my 30s?!
Replies: 34
Views: 5929

Re: Retire in my 30s?!

If the house is going to be mostly paid for and if I have a steady source of income, then what is the point of spending 11 hours a day (including the commute) doing things I don't have a passion for? If that source of income is indeed steady then no problem. As it's been asked in this thread, you s...
by tfb
Sun Feb 19, 2017 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is there ideal Asset LOCATION % as you get closer to retirement?
Replies: 45
Views: 2413

Re: Is there ideal Asset LOCATION % as you get closer to retirement?

An edge case - as you have written eloquently and intelligently on this topic, I am curious how common it is. Because of your excellent tax moves you have been paying 5 percent tax rate. Now that you are finally retired at 72 years old, your RMD pushed you into the 33 percent tax bracket I wonder i...
by tfb
Sun Feb 19, 2017 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Is there ideal Asset LOCATION % as you get closer to retirement?
Replies: 45
Views: 2413

Re: Is there ideal Asset LOCATION % as you get closer to retirement?

My question is, as you get closer to FI/retirement, is there an ideal or preferred asset location % among Tax-deferred / Roth / Taxable accounts? Given the same income and the same net after-tax money you spent versus saved, the ideal asset location is 100% in traditional . It means you have a larg...

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