Search found 305 matches

by wrongfunds
Fri Apr 21, 2017 10:00 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

iamlucky13 wrote:That's part of why I like to leave the phone at home, where it belongs.


Yes, phone should be nailed down to the wall :-)
by wrongfunds
Fri Apr 21, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Filed form 8606 when not needed - should I amend?
Replies: 13
Views: 1712

Re: Filed form 8606 when not needed - should I amend?

We made non-deductible contribution like we do every year but this year I forgot to tell that to TurboTax. It did not generate the Form 8086 showing the updated basis when I e-filed. So I sent the paper copy of the filled out 8086 via postal mail.
by wrongfunds
Thu Apr 20, 2017 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Filed form 8606 when not needed - should I amend?
Replies: 13
Views: 1712

Re: Filed form 8606 when not needed - should I amend?

Don't worry, just to even the score, I forgot to file my 8606 :-) I actually went to ammend but TurboTax told me there was nothing to amend! So I just sent the missing forms and called it a day.
by wrongfunds
Thu Apr 20, 2017 2:25 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

Wow, those are really pictures! Are they all from the Fuji?
by wrongfunds
Thu Apr 20, 2017 7:11 am
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

Really and truly, if you want better pictures, the person taking the picture must have some notion of what they are doing. They don't have to be a pro. But they have to understand a few things about light and exposure, even with a super-awesome auto everything camera. Otherwise you'll get nice pict...
by wrongfunds
Wed Apr 19, 2017 2:20 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

I appreciate this discussion very much and I am in learning process. For "do it what I mean", I am thinking that since camera has already determine where the faces are in the picture, it could selectively brighten them up. As a matter of fact, the reason camera went through the HDR trouble...
by wrongfunds
Wed Apr 19, 2017 10:24 am
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

One of the biggest reason I have been staying away from Sony is that from my personal experience their reliability is NOT high. The customer service is also not easy to deal with. I had a TX5 which broke. Almost all Sony of that era suffered from the stabilization servo going bonkers and turning the...
by wrongfunds
Wed Apr 19, 2017 8:32 am
Forum: Personal Consumer Issues
Topic: Tesla Model 3 or Chevy Bolt?
Replies: 196
Views: 15312

Re: Tesla Model 3 or Chevy Bolt?

Remember digital cameras...the first ones were expensive and had low resolution....'real' photographers would scoff at the poor resolution...until they ceased having poor resolution. Then the digital cameras captured the high end (while still expensive) camera market and then gradually swept down i...
by wrongfunds
Wed Apr 19, 2017 7:20 am
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

I have decided that I will be willing to pay big money (from my perspective) to pick up either Sony RX100 or Canon EOS M10 kit. Both are around $450. Sony would be more pocketable but Canon has replaceable lenses. Both should handle low light situation and would provide good movies. I would love to ...
by wrongfunds
Tue Apr 18, 2017 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Carrying a mortgage into retirement
Replies: 39
Views: 4470

Re: Carrying a mortgage into retirement

I suspect for some majority of BHs in HCOL area, RE taxes would still end up being big fraction of their equivalent monthly outlay even when the house is paid for.,
by wrongfunds
Mon Apr 17, 2017 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7416

Re: How much money do you need to generate $50,000 per month?

50 unit luxury condominium in Honolulu for $10M ? Which becomes equivalent to only $200K per condo apartment in Honolulu? Or with monthly rent of only $1K each?

Sorry, your numbers are just not computing. Otherwise, every BH would have already purchased an apartment there :-)
by wrongfunds
Mon Apr 17, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: 'True' Cost Of A More Expensive House
Replies: 22
Views: 3642

Re: 'True' Cost Of A More Expensive House

Assuming that they are identical except for location, what other hidden costs exist between the two hypothetical houses?

Isn't the location the most important factor in deciding a hypothetical house?
by wrongfunds
Mon Apr 17, 2017 10:49 am
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7416

Re: How much money do you need to generate $50,000 per month?

8-12 million for an apartment high rise building in Honolulu, Hawaii will generate far north of $50,000 / month. No leveraging. No mortgage. Tax breaks. Appreciative value. Etc. That is 1 example. Please explain how does that work. My guess is that your example assumes I buy this apartment for $10M...
by wrongfunds
Mon Apr 17, 2017 10:10 am
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7416

Re: How much money do you need to generate $50,000 per month?

8-12 million for an apartment high rise building in Honolulu, Hawaii will generate far north of $50,000 / month. No leveraging. No mortgage. Tax breaks. Appreciative value. Etc. That is 1 example. Please explain how does that work. My guess is that your example assumes I buy this apartment for $10M...
by wrongfunds
Mon Apr 17, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Forgot to file updated 8606 for non-deductible tIRA
Replies: 3
Views: 299

Re: Forgot to file updated 8606 for non-deductible tIRA

I read (somewhere on the web) that technically IRS can charge late filing fee for submitting 8606 after deadline but usually they don't. So I just mailed it in rather than waiting for a month. Now the challenge for the next year is going to figure out how to convince the tax software that I filed 86...
by wrongfunds
Mon Apr 17, 2017 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Forgot to file updated 8606 for non-deductible tIRA
Replies: 3
Views: 299

Re: Forgot to file updated 8606 for non-deductible tIRA

Is it for my reference only i.e. only worksheets get updated? I completed From 8606 changes with the new information. After updating 8606 in the Forms view and adding 2016 contribution, Turbotax is telling me that it can NOT find any differences in the original and amended return and asking me why a...
by wrongfunds
Mon Apr 17, 2017 6:14 am
Forum: Personal Finance (Not Investing)
Topic: Forgot to file updated 8606 for non-deductible tIRA
Replies: 3
Views: 299

Forgot to file updated 8606 for non-deductible tIRA

Entirely my fault :-( I already efiled and the return has been accepted by IRS. Turbotax says amended returns can NOT be efiled and I have to mail it in. I understand Form 8606 will NOT change the tax to be paid. Can this form be skipped for this year and picked it up later next year or I need to pa...
by wrongfunds
Sun Apr 16, 2017 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Entering cost basis for non-covered 1099 entry
Replies: 1
Views: 150

Entering cost basis for non-covered 1099 entry

In TurboTax:- Do I need to put zero under 1e and then enter the corrected cost on the second screen? Since the cost was not provided to IRS by the broker, it would make sense to enter it directly as if I am correcting the 1099-B myself. I can understand the logic of putting the corrected cost basis ...
by wrongfunds
Sun Apr 16, 2017 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

Even if you enter it in TT (and assuming you did it correctly) it never goes out to the IRS. So your chances of IRS asking for clarification on 529 proceeds do not change whether you feed your 1099Q to TT or not. Why go through the convoluted path to enter this information?
by wrongfunds
Sun Apr 16, 2017 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

TT also defaults to obscure cases for answer rather than using most common case as the answer. The questions asked are in IRS jargon rather than in plain English.
by wrongfunds
Sun Apr 16, 2017 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

I know we get no educations credits etc. I also know that I paid more for qualifying educational expense than the gross proceeds from 529. So I know that the proceeds are NOT taxable. It is better NOT to let TT gets its grubby hands on 1099Q. I went through the software and cleared out the $10,000 e...
by wrongfunds
Sun Apr 16, 2017 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Code for column "f" on Form 8949 only "O" from TT?
Replies: 1
Views: 185

Code for column "f" on Form 8949 only "O" from TT?

After entering ESPP and NQSO same day sale information in TT, the code when present is always "O" regardless of if the compensation income is already included in W2 or was added to Line 7 1040. On the Web I have come across few pointers where they recommend putting BO anytime incorrect cos...
by wrongfunds
Sun Apr 16, 2017 11:19 am
Forum: Personal Finance (Not Investing)
Topic: When need and want take different paths.......
Replies: 30
Views: 2230

Re: When need and want take different paths.......

No, the moral is buy something which you will truly enjoy it rather than keeping it under the wraps and keeping it pristine for the next owner. If you need to keep the furniture wrapped in the plastic, what is the point of buying it? Having said all that, I do have managed to keep my lowly Acura din...
by wrongfunds
Sun Apr 16, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Wrong 1099-R issued!
Replies: 16
Views: 1163

Re: Wrong 1099-R issued!

I tried it via H&R block, it did not ask too many stupid questions but in the end it also put that information on Line 16 as ROLLOVER and taxable amount as 0. So Line 16 is indeed the correct one. I am wondering if switching to TurboTax was a wise choice but as far as I can see H&R does not ...
by wrongfunds
Sun Apr 16, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

OK; I had misunderstood. That income is not on the form 1040. The dire message which threw me in the loop was talking about not getting any educational credit. TurboTax would do everybody a favor if it would announce that the 1099Q income is not getting taxed once the qualified educational expenses ...
by wrongfunds
Sun Apr 16, 2017 12:24 am
Forum: Personal Finance (Not Investing)
Topic: Wrong 1099-R issued!
Replies: 16
Views: 1163

Re: Wrong 1099-R issued!

Please help! After entering the form in TurboTax, it asks confusing yes/no questions and regardless of the answers, it adds this amount to the line 16 (pension) on 1040 instead of on line 15 (IRA). I have answered the questions in many different combinations and I still can not get it to show up on ...
by wrongfunds
Sat Apr 15, 2017 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

Following is from Forbes article; for last few years this is exactly what I have done when I was using H&R tax software. ======================== Mistake #1: Believing that the 1099-Q amounts must be reported somewhere on your tax return. If none of your withdrawals are taxable—more on that dete...
by wrongfunds
Sat Apr 15, 2017 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Re: Please help me enter 1099-Q in TurboTax

If that distribution or part of it were taxed, which line on 1040 will it show up? May be I can look at the actual 1040 created to make sure it is not getting added to my income. I had started with 0 W2 income and then bumped it to 100K and later to 200K but every time, I added the 1098-T qualified ...
by wrongfunds
Sat Apr 15, 2017 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me enter 1099-Q in TurboTax
Replies: 16
Views: 777

Please help me enter 1099-Q in TurboTax

I took 529 distribution to pay for kid's college and I received 1099-Q If I add this via TurboTax, it just treats as if I have received that amount as income. It is adding the entire distribution to my income and does not even account for the basis. That is completely redicullous. Actually, it shoul...
by wrongfunds
Sat Apr 15, 2017 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6700

Re: Physician using Turbotax, owing 30K so far already...

I have never really understood AMT let alone master it. One thing is certain though, for W-2 earners there is very little wiggle room for legally tweaking your taxes.
by wrongfunds
Sat Apr 15, 2017 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Wrong 1099-R issued!
Replies: 16
Views: 1163

Re: Wrong 1099-R issued!

Can somebody walk me through how to handle the 1099-R [box 7 G is checked] which I presume happened because I did some after-tax 401K contribution last year? I am new to TurboTax and never used it before. For ESPP+company merger and other stuff, my friend pushed me to use TurboTax and I am not reall...
by wrongfunds
Sat Apr 15, 2017 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6700

Re: Physician using Turbotax, owing 30K so far already...

I know that I am in no position to challenge Taylor but if you have already taken advantage of all the vehicles that your employer offers for tax deferral, there is really nothing that CPA would do for you. But I do agree with Taylor that you should visit once so that you will hear it from somebody ...
by wrongfunds
Sat Apr 15, 2017 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6700

Re: Physician using Turbotax, owing 30K so far already...

One of the safe assumption that you can do is that in general IRS is NOT stupid. If one could have avoided paying more taxes by MFS instead of MFJ, everybody would have been doing that and the IRS would have already stopped it cold. You can also assume that there are many many households where there...
by wrongfunds
Sat Apr 15, 2017 5:43 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

Turn the flash on.
On iPhone7+? Does not make much difference!
by wrongfunds
Sat Apr 15, 2017 5:42 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

As far as I can make out by looking at iPhone7 and iPhone7+ images, I could not see the "intelligent" merge. I see two images; in one the background have been mostly washed out but the faces have more light; the second one has the detail in the background but the faces are now dark. Are th...
by wrongfunds
Sat Apr 15, 2017 5:02 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

Please, I know about following, but as I said it is NOT an option, especially when the photographer herself is the better half. Do not bother with the following. All I am asking is that the camera to "simulate" the fill-in flash at pixel level. I am an engineer, so technically I see no rea...
by wrongfunds
Sat Apr 15, 2017 4:55 pm
Forum: Personal Consumer Issues
Topic: Best take it everywhere camera
Replies: 95
Views: 7635

Re: Best take it everywhere camera

I am willing to go as high as $500 for a pocket able camera that can take great pictures and videos with decent zoom range. It needs to have smart auto mode. It has been extremely frustrating to explain to the better half as to why our photos taken against great scenery end up with dark faces :-( Th...
by wrongfunds
Sat Apr 15, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 82
Views: 6430

Re: Dealership rejecting rebate after contract signed

I have a feeling that this is one of the classic hit-and-run posting. We are never going to get the details from OP.
by wrongfunds
Sat Apr 15, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 81
Views: 10671

Re: What constitutes "a lot" of money?

It was cheaper than going to Seville myself. But would it be *better* than going to Seville yourself? :-) On the similar line, is attending your home team's football game in cold freezing weather*better* than watching it on a large screen and cuddled up on your own couch with all the food and the d...
by wrongfunds
Fri Apr 14, 2017 10:46 am
Forum: Personal Consumer Issues
Topic: Problems with oil pans and plugs for Honda Odyssey
Replies: 51
Views: 2365

Re: Problems with oil pans and plugs for Honda Odyssey

This is for somebody else who runs in to this issue aka Honda oil pan stripping:- All one really needs is the longer bolt. I wish I had known this one before mine was stripped at the garage :-( He drilled the hole and re tapped and put an aftermarket bigger bolt. Unfortunately, the drilling was not ...
by wrongfunds
Thu Apr 13, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 130
Views: 15382

Re: So someone drained $13k from my checking account...

Question on ACH ============== What is the maximum amount of time that the money stays in limbo? What is the elapsed time since the money vanishes from originating institute and appears on receiving institute? Assuming ACH are batched at the end of the day, it should never be more than overnight. I ...
by wrongfunds
Sun Apr 02, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 7852

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

The political landscape in this country can shift on the dime. Being able to correctly compute your tax burden five years down the road or twenty years down the road would be extremely rare. Good news is I do have enough--just hate seeing the tax bill. I sympathize. We pay more than Mercedes S-Class...
by wrongfunds
Sat Apr 01, 2017 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10264

Re: Saving 50% of salary; what does it really mean?

Not just AMT but then kicks in NIIT (+3.8%, ceiling is NOT indexed to inflation) and plus extra Medicare tax (+0.8%)

I mean, in theory I have no problem with progressive tax code i.e. higher income people should pay higher percentage of their income in taxes but why make it so non-transparent?
by wrongfunds
Sat Apr 01, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10264

Re: Saving 50% of salary; what does it really mean?

Somebody suggested that I use TaxCaster as it is more accurate. Keeping everything same, if I now add $10K of LTGC, the FED taxes goes up by 2.5K Is this courtesy of the AMT? I thought long term capital gains were taxed at 15% rate If I throw $100K as LTGC instead of $10K, the taxes go up my $25K. A...
by wrongfunds
Sat Apr 01, 2017 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Not opting for 529... anyone else?
Replies: 175
Views: 9813

Re: Not opting for 529... anyone else?

I don't think there is a single reply here which recommended contributing to 529 without maximizing all the other tax deferred investments that are available to you. But your point is valid that for 90% of the general population it does not make sense if they still have room to put money in other ve...
by wrongfunds
Sat Apr 01, 2017 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 7852

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

It also happens when you have more income in retirement than when you were working.
How and why is that possible? Does that mean they should have retired earlier?
by wrongfunds
Sat Apr 01, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 7852

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

For the planning purposes, it might be easiest just to assume that all of your income in the retirement will be taxed and take it from there. When you find some portion is NOT, treat it as windfall and upgrade to business class in your next travel.
by wrongfunds
Sat Apr 01, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 18
Views: 1462

Re: Tax question

I don't think it is based upon W4 but rather some constant formula. At least for the stock options and RSU that I am familiar with, they straight take 25% for federal taxes and the other taxes are mostly percentage of the added income e.g. if your state has 8% income tax, that is the amount used for...
by wrongfunds
Sat Apr 01, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 7852

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Am I right in assuming that in all this type of calculations where tax bracket goes from 15 to 25 as the payer ages happens only after RMD kicks in and SS was delayed till that age? Obviously every case is different but it seems rather uncommon to have higher tax bracket just after retirement than j...
by wrongfunds
Sat Apr 01, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10264

Re: Saving 50% of salary; what does it really mean?

The Factorial&Fraction guy is right! I was wrong.

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