Search found 7546 matches

by tfb
Fri Feb 24, 2017 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Lousy Customer Service
Replies: 36
Views: 2532

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: 396

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: 551

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: 1129

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: 551

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: 3240

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: 3240

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: 3667

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: 133

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: 5445

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: 2203

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: 2203

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...
by tfb
Sat Feb 18, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth with Fidelity - should there be a 1099-R?
Replies: 11
Views: 665

Re: Mega backdoor Roth with Fidelity - should there be a 1099-R?

noraz123 wrote:Thanks. Sounds like I do need a 1099-R, and will contact Fidelity.

Find it on the 401k side, not on the personal IRA side.
by tfb
Sat Feb 18, 2017 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-B doesn't match GainsKeeper
Replies: 1
Views: 142

Re: 1099-B doesn't match GainsKeeper

krick wrote:If I used my GainsKeeper info (which is more accurate) to do my taxes, am I setting myself up for an audit because my 1099-B info that was reported to the IRS doesn't match?

The tax form has a place to say the 1099-B isn't correct and for you to enter an adjustment.
by tfb
Sat Feb 18, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-R from mega backdoor transaction
Replies: 2
Views: 135

Re: 1099-R from mega backdoor transaction

There should be.
by tfb
Fri Feb 17, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to decisively determine HCE status
Replies: 27
Views: 1584

Re: How to decisively determine HCE status

From the above two texts, it appears to me that, Employee Stock Options (ESOP, non-qualified) when exercised and RSU (when vested in a year different than grant year) are not to be counted towards compensation for the purpose of determining HCE status. I thought the option exercise doesn't count bu...
by tfb
Fri Feb 17, 2017 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to decisively determine HCE status
Replies: 27
Views: 1584

Re: How to decisively determine HCE status

(1) Yes unless the employer elected the top 20% option.
(2) Yes, otherwise what's the point of putting out a definition.
(3) Nothing.
(4) No. It's based on the previous year's compensation.
by tfb
Fri Feb 17, 2017 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax only reading 1st page of 1099-INT
Replies: 14
Views: 1111

Re: Turbo Tax only reading 1st page of 1099-INT

tfb - I did import directly from Ally; didn't know you could do it any other way. I have the problem fixed - I was only trying to warn others who may be new to this. Because you don't get to see what's in the data stream it could be a problem created by Ally. Or you were expected to import separate...
by tfb
Fri Feb 17, 2017 11:17 am
Forum: Investing - Help with Personal Investments
Topic: Fee per purchase of an ETF? Vanguard ROTH
Replies: 5
Views: 205

Re: Fee per purchase of an ETF? Vanguard ROTH

I have about $62 left over and I was thinking about purchasing another VXUS ETF share, but I was wondering if I get charged a transaction fee per purchase. When you try to enter an order it will tell you whether there's a fee just like you will see tax and shipping when you buy something online. Tr...
by tfb
Fri Feb 17, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: 1099s Up for Brokerage
Replies: 5
Views: 389

Re: 1099s Up for Brokerage

JamesSFO wrote:I had my 1099 consolidated late last night at Vanguard for my new-style brokerage account, still waiting on Fidelity...

I guess it depends on what you have in your Fidelity account. I had mine from Fidelity on Jan. 27.
by tfb
Fri Feb 17, 2017 10:53 am
Forum: Personal Finance (Not Investing)
Topic: HR Block desktop software not doing foreign tax credit correctly
Replies: 5
Views: 360

Re: HR Block desktop software not doing foreign tax credit correctly

My complaint is that HR Block's software never told me to fill out form 1116. I noticed something was wrong when I compared this year's return to last's and noticed a missing entry. I can understand a business decision to not create an interview for form 1116. I don't understand leaving out a warni...
by tfb
Fri Feb 17, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2016 DELUXE with Schedule D - changes?
Replies: 4
Views: 429

Re: TurboTax 2016 DELUXE with Schedule D - changes?

chabil wrote:I also find the schedule D form (not the actual form, but the entry level form) is opaque. The form is different.

I guess you haven't had capital gains in the last few years. Some time ago the IRS changed Schedule D and added a Form 8949. Schedule D became a summary. The 8949 has details.
by tfb
Fri Feb 17, 2017 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax only reading 1st page of 1099-INT
Replies: 14
Views: 1111

Re: Turbo Tax only reading 1st page of 1099-INT

tfb - True that is just as easy to simply enter the data from the 1099-INT. I was basically testing the import feature since it was the first time I have actually used TurboTax. I tried the product one year and gave up on it but I thought I'd try it again. MisterBill - I have a savings account and ...
by tfb
Fri Feb 17, 2017 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax only reading 1st page of 1099-INT
Replies: 14
Views: 1111

Re: Turbo Tax only reading 1st page of 1099-INT

All my 1099-INTs have only one number. They are not worth importing.
by tfb
Wed Feb 15, 2017 11:30 am
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2593

Re: UPDATED: Confirmed H&R Block chokes on Line 29

Have you resolved the issue that the policies were not issued your wifes name (or business) and therefore not eligible for the SE health deduction? Maybe the software knows it doesn't count because it's not in the self-employed person's name? In that case don't add them up and say they are in the s...
by tfb
Wed Feb 15, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2593

Re: UPDATED: Confirmed H&R Block chokes on Line 29

I have not used the H and R Block software. But can't you just enter the 1095-a information all together? I mean just combine the information from the two 1095-A forms? The 1095-A is not like the W-2. It does not get sent to the IRS as part of your return. It is only used to properly fill out the t...
by tfb
Wed Feb 15, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax Premier Online Deal?
Replies: 18
Views: 1483

Re: TurboTax Premier Online Deal?

Everyone who's cheerleading for "saving" via the download version: how much did you actually pay? I went with the online Premier plus $20 discount via the USAA link I provided. Total: $76 for prep and e-file both federal and CA. Desktop deluxe version will do when you need online premier....
by tfb
Wed Feb 15, 2017 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Tax Prep Software Getting Roth Conversion Worksheet Wrong
Replies: 19
Views: 958

Re: Tax Prep Software Getting Roth Conversion Worksheet Wrong

H&R Block desktop asks whether the IRA was inherited and whether it was inherited from spouse. Only the H&R Block Online program can't handle it, and it even admits it. Try TurboTax. Because you file 1040A, it's also free. If you inherited it from your spouse and decided to treat it as your...
by tfb
Wed Feb 15, 2017 12:24 am
Forum: Personal Finance (Not Investing)
Topic: Tax Prep Software Getting Roth Conversion Worksheet Wrong
Replies: 19
Views: 958

Re: Tax Prep Software Getting Roth Conversion Worksheet Wrong

I'm starting to wonder if HRBlock, Tax Act, and TurboTax simply can't handle this situation. One of HRBlock's help pages says something to this effect: If you inherited a traditional IRA from anyone other than a deceased spouse, you cannot treat the inherited IRA as your own. This means that you ca...
by tfb
Tue Feb 14, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Prep Software Getting Roth Conversion Worksheet Wrong
Replies: 19
Views: 958

Re: Tax Prep Software Getting Roth Conversion Worksheet Wrong

Epsilon Delta wrote:This is something to pay attention to if you review or reenter the 1099s. Somewhere it should ask if it's inherited.

This. Make sure you answer yes or check the box to say it's inherited.
by tfb
Sun Feb 12, 2017 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: To those who avoid FICA with HSA payroll contributions
Replies: 32
Views: 2765

Re: To those who avoid FICA with HSA payroll contributions

camillus wrote:Has anyone thought about the comparative value of paying into social security?

I have. It's not worth it for me on the amount of the HSA contribution. Others may draw different conclusions. Where you are with regard to the bending points makes a difference.
by tfb
Fri Feb 10, 2017 6:24 pm
Forum: Personal Consumer Issues
Topic: What is a good laptop to buy?
Replies: 90
Views: 6799

Re: What is a good laptop to buy?

If it were me, I'd look for a machine that was designed to run without issue for years. This will land you in the designed for megacorp business-laptop arena. The Latitude is one example of a business-enterprise-only laptop that has a long history of running hard for years without issues. Thank you...
by tfb
Fri Feb 10, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax - which one? Small taxable account
Replies: 6
Views: 489

Re: Turbo Tax - which one? Small taxable account

Thank you both. I bought deluxe fed and state today from Costco for $40 which worked well. However, they ding you $20 if you want to efile the state return which I ended up paying. If it bothered you why not just print and mail? $40 for the whole thing with complex logic versus $20 for saving the t...
by tfb
Fri Feb 10, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Premier Online Deal?
Replies: 18
Views: 1483

Re: TurboTax Premier Online Deal?

If you have over $1m with assets at Fidelity, are you really going to be doing your own taxes with turbotax? What's wrong with that? Just because you have large assets doesn't make your taxes complicated. If you have your assets in tax advantaged accounts or if you just receive dividends, it can be...
by tfb
Fri Feb 10, 2017 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA for 2016 and 2017 in 2017
Replies: 15
Views: 1211

Re: Backdoor Roth IRA for 2016 and 2017 in 2017

As I understand, the conversions for a year should be reported for that year. So in either of the two strategies above, since the conversions are in 2017, I believe I would not report anything on my 2016 tax returns. Not true. From one of your links: You report on the tax return your contribution t...
by tfb
Fri Feb 10, 2017 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Premier Online Deal?
Replies: 18
Views: 1483

Re: TurboTax Premier Online Deal?

My only concern would be carrying over the data from online to CD. Is that pretty seamless? When I do returns online, it pulls everything from last year and pre-populates as needed. From Inuit help: Transfer last year's return into TurboTax for Windows Transfer last year's return into 2016 TurboTax...
by tfb
Fri Feb 10, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth Issue with Vanguard
Replies: 11
Views: 1114

Re: Backdoor Roth Issue with Vanguard

retiredjg wrote:If you are interested in tilting to value, you can find what you want on Fidelity's no-transaction-fee list of iShares ETFs. However, I don't know if ETFs can be used in their i401k or not.

ETFs can be used. It's just a brokerage account. Any funds or ETFs can be used.
by tfb
Fri Feb 10, 2017 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Premier Online Deal?
Replies: 18
Views: 1483

Re: TurboTax Premier Online Deal?

I used to get TT Premier Online for free through State Farm, but they stopped it. Vanguard doesn't have discounts anymore either. Does anyone know of the best offer currently available? I'd like to stay online and not do the download/CD option if possible. Not sure why you don't want the download/C...
by tfb
Thu Feb 09, 2017 9:33 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth Issue with Vanguard
Replies: 11
Views: 1114

Re: Backdoor Roth Issue with Vanguard

It seems like the only option here is to open up 2 new i401Ks with other banks, have the aforementioned money transferred into those i401Ks and then roll those funds back into the Vanguard i401Ks (which is allowed). This seems a bit ludicrous, but just wanted to see if this was correct, has been se...
by tfb
Wed Feb 08, 2017 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion/Recharacterization symantics
Replies: 22
Views: 1051

Re: Conversion/Recharacterization symantics

Alan S. wrote:He cannot recharacterize it back to a TIRA in this situation because he has already recharacterized his regular contribution once.

That's too bad. Getting a penalty for checking the wrong box.
by tfb
Wed Feb 08, 2017 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion/Recharacterization symantics
Replies: 22
Views: 1051

Re: Conversion/Recharacterization symantics

I recharacaterized my TIRA contribution to do a backdoor conversion. Obviously, I checked the wrong box and OF COURSE I did not realize this until after my taxes were filed. So as far as I can tell, the IRS will see this as though I had contributed to a Roth IRA when I am over the income limit to d...
by tfb
Wed Feb 08, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct still not importing stock data
Replies: 32
Views: 3054

Re: TaxAct still not importing stock data

It's February 8, and TaxAct still doesn't have a key piece of functionality working yet, the ability to import stock data. According to these help topics, it only imports directly from three places and you'd have to export CSV on your own from a few other places. They never promised they were able ...
by tfb
Wed Feb 08, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2593

Re: H&R Block chokes on Line 29

Anyway, during the H&R Block software interview, I told it what our premiums were and it gave a message that we are not eligible to take a self-employed health care premium deduction. No reason given . If I override the software and manually fill in Line 29, I get a message that I cannot e-file...
by tfb
Wed Feb 08, 2017 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2593

Re: H&R Block chokes on Line 29

My wife is the sole proprietor and she was on the exchange for 12 months. I was on the exchange for 10 months and then on medicare. My 10 months on the exchange are factored into the deduction. Can we add MY medicare and medigap premiums to the amount of HER self-employed healthcare deduction? Goog...
by tfb
Wed Feb 08, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Trouble with LMCU transactions coming in as "bill pay"
Replies: 7
Views: 790

Re: Trouble with LMCU transactions coming in as "bill pay"

I understand that Comcast would make the decision to process through NYCE and it is their prerogative, but I wonder why they do not do that when I did the partial payments on the Mastercard debit card? Who knows. Maybe Comcast doesn't know the MasterCard number could be processed through NYCE. Mayb...
by tfb
Wed Feb 08, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2593

Re: H&R Block chokes on Line 29

My wife is self employed sole proprietor. We bought health insurance on the exchange. We want to take a Line 29 self-employed health care premium deduction. For those that don't know... the deduction lowers the AGI. Lower AGI means more subsidy (premium tax credit) which lowers the premiums and the...
by tfb
Wed Feb 08, 2017 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Another Tax Question - Can I deduct TIRA contribution if my workplace has a 401k, but I choose not to contribute?
Replies: 29
Views: 1515

Re: Another Tax Question - Can I deduct TIRA contribution if my workplace has a 401k, but I choose not to contribute?

fantasytensai wrote:BIt's obviously too late for 2016, but I will give it a long and hard thought to going for it in 2017 to decrease tax liabilities.

For 2016, look at your W-2 and see if box 13 is checked. If it's not, you can deduct the traditional IRA contribution.
by tfb
Tue Feb 07, 2017 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Trouble with LMCU transactions coming in as "bill pay"
Replies: 7
Views: 790

Re: Trouble with LMCU transactions coming in as "bill pay"

Paying Comcast is making a partial payment toward your bill isn't it? It's marked as bill pay when Comcast processes it as a pinless debit through NYCE (look at the logo on the back of your card). It's Comcast's choice whether to use NYCE or Visa. LMCU can't stop them. To satisfy the debit card usag...
by tfb
Tue Feb 07, 2017 12:13 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software for 2016
Replies: 76
Views: 7594

Re: H&R Block Tax Software for 2016

What I was wondering is which H&R Block product(s) give you a 5% versus 10% bonus on the gift card, per the line I quoted above from the Amazon description for H&R Block software. I was potentially interested in the 10% if it requires the software level I'd purchase anyway, which I'm guessi...
by tfb
Mon Feb 06, 2017 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Sole Proprietorship & SEPs
Replies: 2
Views: 225

Re: Spousal Sole Proprietorship & SEPs

I had $2,500 in 1099-Misc income in my name for some data entry work we did. She helped out but the 1099 is in my name. It's too late for me to open up a solo 401k or a SIMPLE IRA. Is it possible for us both to open up a SEP and max them out for 2016? Because the contribution limit is a percentage ...

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