Search found 6365 matches

by kaneohe
Sun May 31, 2020 2:58 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting
Replies: 36
Views: 1531

Re: Tax loss harvesting

.......................................... [*]Ordinary income and short-term capital gains are taxed at a lower rate than long-term gains, so if you deduct at a higher rate and pay later at a lower rate, there's an additional tax savings. ...............................................................
by kaneohe
Sun May 31, 2020 9:52 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting
Replies: 36
Views: 1531

Re: Tax loss harvesting

........................................................................................................ - And say you have $10k losses this year, and claim $3k against ordinary income. What happens to the other $7k? Do you have to keep track of it yourself and claim 3k per year providing records f...
by kaneohe
Sat May 30, 2020 9:38 pm
Forum: Personal Investments
Topic: CD interest disbursement options
Replies: 11
Views: 666

Re: CD interest disbursement options

https://www.fdic.gov/deposit/deposits/faq.html "Q: What is deposit insurance? A: FDIC deposit insurance covers the depositors of a failed FDIC-insured depository institution dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default , up to at least ...
by kaneohe
Wed May 27, 2020 6:31 pm
Forum: Personal Investments
Topic: Betterment liquidated my investments without my authorization
Replies: 75
Views: 5276

Re: Betterment liquidated my investments without my authorization

What did you do w/ the funds after transfer? and when? how long did the transfer take?
by kaneohe
Wed May 27, 2020 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Enrollment Help
Replies: 21
Views: 1288

Re: Medicare Enrollment Help

............................................. I'm confused about how to decide between Medicare Original and Medicare Advantage................................ If we go with medicare original, and don't get a Medigap policy now, is there a premium penalty to add it later? .............................
by kaneohe
Wed May 27, 2020 4:37 pm
Forum: Personal Investments
Topic: Capital gain conundrum
Replies: 10
Views: 1088

Re: Capital gain conundrum

If you can't bear taking the who CG at once, consider phasing it in over time to distribute the tax load but keep looking for market dips when you might be able to unload all/more with lesser tax consequences. If you start,
you won't end up holding it forever for fear of the CG.
by kaneohe
Wed May 27, 2020 4:31 pm
Forum: Personal Investments
Topic: New Issue munis on Fidelity - What am I missing?
Replies: 1
Views: 334

Re: New Issue munis on Fidelity - What am I missing?

When I've purchased new issues w/ Schwab , I rarely pay face value. It is usually at a "slight" discount or premium.
The nominal yield based on face value is typically different than real world yields so the actual price reflects that.
by kaneohe
Tue May 26, 2020 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Capital Gains Taxable Amount
Replies: 22
Views: 1384

Re: Calculating Capital Gains Taxable Amount

if you want to confirm your conclusion, you can call Schwab and ask for the cost basis group. They are generally quite knowledgeable but you may need to push back if you think you are not getting the right answer.
by kaneohe
Tue May 26, 2020 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Eight 2019 taxes questions - could use some guidance
Replies: 7
Views: 682

Re: Eight 2019 taxes questions - could use some guidance

1) is this stock from stock options, ESPP, RSU,or ???? 7) https://support.taxslayer.com/hc/en-us/articles/360016456392-The-code-for-my-W-2-Box-14-is-not-listed-What-do-I-enter- SDI is a common item here. I would not enter Family Leave under SDI. see if there is a more suitable code.........else like...
by kaneohe
Tue May 26, 2020 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Eight 2019 taxes questions - could use some guidance
Replies: 7
Views: 682

Re: Eight 2019 taxes questions - could use some guidance

8) https://www.mortgagecalculator.org/calcs/1040-calculator.php enter your expected income/deductions in a calculator like this to determine your tax. If your withholding will be 90% or more of your expected taxes, or the shortfall will be less than 1K, you don't need to pay estimated taxes. If you ...
by kaneohe
Tue May 26, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Eight 2019 taxes questions - could use some guidance
Replies: 7
Views: 682

Re: Eight 2019 taxes questions - could use some guidance

2) How about going back to source 1099-DIV documents . Check in box 7 (foreign tax paid) and add those up. If less than $600 don't file F1116 and just use the total determined as foreign tax paid. 3) https://www.irs.gov/taxtopics/tc559 for most, NIIT MAGI is simply AGI. If true for you then, you nee...
by kaneohe
Tue May 26, 2020 3:28 am
Forum: Personal Finance (Not Investing)
Topic: Medigap in California
Replies: 2
Views: 308

Re: Medigap in California

............................................ The thing we find most annoying with the deductible is that we never know how much of the deductible to pay and to whom. You don't pay it to the first provider(s) you see each year, but to the first provider(s) to bill Medicare. We usually meet the (curr...
by kaneohe
Tue May 26, 2020 3:20 am
Forum: Personal Finance (Not Investing)
Topic: Calculating Capital Gains Taxable Amount
Replies: 22
Views: 1384

Re: Calculating Capital Gains Taxable Amount

What is your cost basis method for the fund ? If you didn't select one, what is the default method. Often it is average cost basis. When were the shares purchased.........are they covered or non-covered........the broker will report the cost basis of the sold shares to you and IRS if covered. The b...
by kaneohe
Mon May 25, 2020 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Capital Gains Taxable Amount
Replies: 22
Views: 1384

Re: Calculating Capital Gains Taxable Amount

What is your cost basis method for the fund ? If you didn't select one, what is the default method. Often it is average cost basis. When were the shares purchased.........are they covered or non-covered........the broker will
report the cost basis of the sold shares to you and IRS if covered.
by kaneohe
Mon May 25, 2020 3:13 pm
Forum: Personal Investments
Topic: CA tax treatment of HSA
Replies: 18
Views: 890

Re: CA tax treatment of HSA

Thank you all for your responses. I was able to calculate the dividend amount from the transaction history. However, for the fund sale, unfortunately HealthEquity is not reporting cost basis, so I have no idea whether it is a capital gain or loss. I am planning to just report it as a gain to be saf...
by kaneohe
Mon May 25, 2020 2:51 pm
Forum: Personal Investments
Topic: CA tax treatment of HSA
Replies: 18
Views: 890

Re: CA tax treatment of HSA

You have to split your brain if you have HSA in CA. For Fed, treat as HSA. For CA, treat as just another taxable account. You just have to be in the right frame of mind when you do CA
by kaneohe
Fri May 22, 2020 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: How do you "see" a credit freeze?
Replies: 5
Views: 571

Re: How do you "see" a credit freeze?

Mine show the freeze typ @ the top of p.2 or 3 in the report.
by kaneohe
Thu May 21, 2020 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: When are taxes due on a Roth Conversion?
Replies: 15
Views: 916

Re: When are taxes due on a Roth Conversion?

Thanks for all the help. Checked out Sch 2210 - doesn't look too onerous if I need to fill it out (I do take the std deduction). My current plan is to do quarterly payments for conversions as they occur. No idea where I heard of the 30-day rule, but I will erase it from my memory. :happy looking at...
by kaneohe
Thu May 21, 2020 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: When are taxes due on a Roth Conversion?
Replies: 15
Views: 916

Re: When are taxes due on a Roth Conversion?

Equal quarterly payments vs Sch AI F2210 is basically a tradeoff in simplicity vs some complexity in filling out Sch AI...in which you need to know the timing of all income and then calculate your tax 4x. You might want to take a look at that form and try filling it out. If you are using the std ded...
by kaneohe
Thu May 21, 2020 3:15 pm
Forum: Personal Investments
Topic: Deciding which cost basis shares to sell
Replies: 9
Views: 671

Re: Deciding which cost basis shares to sell

https://www.irs.gov/publications/p550#e ... 1000273751

The losses get carried over on the capital loss carryover wksht.......like this one in Pub 550. You can sometimes find the same in the instructions for Sch D or the 1040.
by kaneohe
Thu May 21, 2020 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: [Advantage to not taking this year's RMD?]
Replies: 6
Views: 346

Re: [Advantage to not taking this year's RMD?]

............................................ and every year that I've taken my RMD I have contributed it directly to our Temple as a charitable contribution so it has never counted as income for tax purposes . We also take a standard deduction on our taxes. ............................................
by kaneohe
Thu May 21, 2020 12:03 pm
Forum: Personal Investments
Topic: Deciding which cost basis shares to sell
Replies: 9
Views: 671

Re: Deciding which cost basis shares to sell

might depend on your tax situation: if your income is low enough, LTCG are taxed at 0, so you might want to sell the low cost basis shares if the gains will still fit in that 0% bracket.
by kaneohe
Tue May 19, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains From Brokerage "Covered Shares"
Replies: 2
Views: 176

Re: Capital Gains From Brokerage "Covered Shares"

you might want to keep documents to make sure the broker is right.
by kaneohe
Tue May 19, 2020 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Tried to get credit report - security questions don't match
Replies: 66
Views: 61713

Re: Tried to get credit report - security questions don't ma

If you need to request by phone or mail, use the links from this page: https://www.annualcreditreport.com/cra/index.jsp. If you go through the bureaus, you used to have to submit all sorts of documentation. Hey, thanks for the link! I'm putting mine in the mail right now. I've always had issues wit...
by kaneohe
Mon May 18, 2020 6:22 pm
Forum: Personal Investments
Topic: Calculating Share cost when shares have a sales load
Replies: 1
Views: 133

Re: Calculating Share cost when shares have a sales load

.......................... 2. Assuming the sales load was .03, when I invested $250 monthly, I would just take $250/Qty of shares, and that would be my cost basis, regardless of the sales load? .................................................. Thanks. might depend on the Fidelity accounting..........
by kaneohe
Sun May 17, 2020 3:14 pm
Forum: Personal Investments
Topic: Return of capital/principal in taxable account question
Replies: 8
Views: 486

Re: Return of capital/principal in taxable account question

don't forget that the ultimate goal is to maximize after-tax returns , not to keep tax at zero. Would you rather have an account that tripled and that you would pay taxes on or an account that didn't gain anything and that you would pay 0 taxes on.
by kaneohe
Sun May 17, 2020 11:38 am
Forum: Personal Investments
Topic: Return of capital/principal in taxable account question
Replies: 8
Views: 486

Re: Return of capital/principal in taxable account question

your numbers are confusing...........did you mean lump sum 20K? Then after 2K/mo. additional contributions you would have invested 34K. If your value is now 36K, then if you sell 34K your gain will depends on your cost basis method. If you sell specific lots, you can pick the higher cost basis lots ...
by kaneohe
Sat May 16, 2020 9:39 pm
Forum: Personal Investments
Topic: tax types or avoiding them on dividends
Replies: 7
Views: 556

Re: tax types or avoiding them on dividends

Take a look at the 1099-DIV https://www.irs.gov/pub/irs-pdf/f1099div.pdf Note the 1st 2 entries: 1a)Total ordinary dividends; 1b)Qualified dividends They are not totally independent of each other; 1b) is contained in 1a) so the total ordinary dividends consists of qualified dividends and another com...
by kaneohe
Sat May 16, 2020 6:01 pm
Forum: Investing - Theory, News & General
Topic: What's the point of TLH when you already have booked losses?
Replies: 35
Views: 2080

Re: What's the point of TLH when you already have booked losses?

Don't forget the time value of $$. If you harvest and only use 3K against ordinary income , in the 24% bracket
you are saving and hopefully reinvesting the $720 savings each which can add up over a period of time.
by kaneohe
Sat May 16, 2020 5:32 pm
Forum: Investing - Theory, News & General
Topic: What's the point of TLH when you already have booked losses?
Replies: 35
Views: 2080

Re: What's the point of TLH when you already have booked losses?

...................................... +1 Benefit of additional TLH. In year harvested, CLs offset CGs dollar-for-dollar, $3K/yr limit does not apply. So if you normally receive dividends of $10K/yr in CGs, a $10K TLH will offset the CGs dollar-for-dollar. Then $3K of your $100K carryover loss can ...
by kaneohe
Sat May 16, 2020 4:53 pm
Forum: Investing - Theory, News & General
Topic: What's the point of TLH when you already have booked losses?
Replies: 35
Views: 2080

Re: What's the point of TLH when you already have booked losses?

What's the point of not harvesting more losses? Only one I can think of is wanting to leave assets to your heirs with a higher basis. ............................................................ Don't inherited assets get a stepup in basis to date of death value ? so no gain if sold then. Even if b...
by kaneohe
Wed May 13, 2020 6:52 pm
Forum: Investing - Theory, News & General
Topic: Vanguard 2020 distribution schedule
Replies: 9
Views: 993

Re: Vanguard 2020 distribution schedule

There are a "few" funds on that list. Never realized that.
by kaneohe
Mon May 11, 2020 6:16 pm
Forum: Personal Investments
Topic: Ally Bank 1.25% savings .50 Moneymarket
Replies: 26
Views: 3661

Re: Ally Bank 1.25% savings .50 Moneymarket

hope you're right (about the little later) . I have funds fleeing HYS drop from 1.5% to 1.3% to what I thought was Ally 1.5% (but now 1.25%). Need a couple more days to get into NP CD. You can open the account right now with $0 and as long as the funds post before the 10 day guarantee window closes...
by kaneohe
Mon May 11, 2020 3:56 pm
Forum: Personal Investments
Topic: Ally Bank 1.25% savings .50 Moneymarket
Replies: 26
Views: 3661

Re: Ally Bank 1.25% savings .50 Moneymarket

.................................................. As expected. If it was like the last rate drop the no penalty CDs will also fall a little later. hope you're right (about the little later) . I have funds fleeing HYS drop from 1.5% to 1.3% to what I thought was Ally 1.5% (but now 1.25%). Need a co...
by kaneohe
Mon May 11, 2020 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting Medicare insurance premiums
Replies: 25
Views: 1531

Re: Deducting Medicare insurance premiums

is there such a thing as a standard deduction for OH? a brief search didn't find one....if true,then you need to itemize but may run into % AGI floor limitations similar to Fed.
by kaneohe
Mon May 11, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Problems obtaining a free annual Equifax credit report online
Replies: 56
Views: 33880

Re: Problems obtaining a free annual Equifax credit report online

....................................................... I then tried requesting the Equifax report by phone at 877-322-8228 but nothing showed up in the mail. I don't know if there is some sort of error in Equifax's system or if they are just not mailing paper credit reports during the COVID-19 cri...
by kaneohe
Mon May 11, 2020 9:29 am
Forum: Personal Finance (Not Investing)
Topic: 2020 tax forecast
Replies: 8
Views: 740

Re: 2020 tax forecast

since you already know that the 110% safe harbor(based on last yr) will be way too much, your only choice is the 90% of current yr safe harbor. Since there is much more uncertainty on current yr data, all you can do is forecast and forecast and forecast again each quarter and make changes to your pa...
by kaneohe
Sat May 09, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: 2020 Tax Credit: Stimulus & taxable Social Security
Replies: 9
Views: 522

Re: 2020 Tax Credit: Stimulus & taxable Social Security

you mentioned earned income.........any way to contribute to 401K or similar to reduce your reported income?
by kaneohe
Sat May 09, 2020 11:43 am
Forum: Personal Finance (Not Investing)
Topic: 2020 Tax Credit: Stimulus & taxable Social Security
Replies: 9
Views: 522

Re: 2020 Tax Credit: Stimulus & taxable Social Security

https://www.irs.gov/pub/irs-pdf/f1040.pdf

if you look at the 1040, you can see how AGI is calculated.........
by kaneohe
Fri May 08, 2020 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Are Qualified Dividends included in the MAGI calculation for ACA subsidy???
Replies: 14
Views: 1250

Re: Are Qualified Dividends included in the MAGI calculation for ACA subsidy???

Qualified dividends are a subset of total dividends (Line 3b on the 1040 I believe). Line 3b is included in AGI and therefore MAGI. But, line 3b is -not- included in the AGI calculation, so Qualified Dividends are not in the MAGI number either. Look at your 1040 and do the math. 7a Other income fro...
by kaneohe
Thu May 07, 2020 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Adjusted Gross Income
Replies: 24
Views: 1932

Re: Understanding Adjusted Gross Income

bg5 wrote:
Thu May 07, 2020 7:17 am
We do contribute to our pensions but its not tax deffered
Is this pension separate from the 403b?
by kaneohe
Thu May 07, 2020 10:06 am
Forum: Personal Investments
Topic: Rollover question
Replies: 4
Views: 155

Re: Rollover question

so no large immediate impact but over time, Roth will be better and if/when tax rates go back up in 2025?/2026 then you be better off having converted now.
by kaneohe
Thu May 07, 2020 9:19 am
Forum: Personal Investments
Topic: Rollover question
Replies: 4
Views: 155

Re: Rollover question

what is your marginal tax rate for the conversion vs your heirs marginal tax rate for ordinary income?
by kaneohe
Thu May 07, 2020 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Adjusted Gross Income
Replies: 24
Views: 1932

Re: Understanding Adjusted Gross Income

We do contribute to our pensions but its not tax deffered this might be a matter of how you think about it. The only 403b s I know reduced your reported salary so offered tax deferred savings. For example if your total salary was 100K and you contributed 20K to 401K, your federal reported gross inc...
by kaneohe
Wed May 06, 2020 6:08 pm
Forum: Personal Investments
Topic: Traditional IRA Contribution Limit Odd Situation
Replies: 7
Views: 297

Re: Traditional IRA Contribution Limit Odd Situation

https://www.irs.gov/retirement-plans/ir ... ion-limits

it might help if you provided some key info that's required:

you can always contribute if you have W2 income or equivalent but whether you can deduct is the question.
by kaneohe
Wed May 06, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Adjusted Gross Income
Replies: 24
Views: 1932

Re: Understanding Adjusted Gross Income

Cyclesafe wrote:
Wed May 06, 2020 7:56 am
When calculating "AGI" one must always consider the purpose it is being calculated for. The definition changes with different applications.

It's best to use the appropriate tax form as a guide. The devil in in the details...
perhaps you thinking of MAGI? AGI is unique is my understanding.
by kaneohe
Sat May 02, 2020 5:06 pm
Forum: Investing - Theory, News & General
Topic: How are mutual funds fees calculated if the year is negative?
Replies: 18
Views: 1858

Re: How are mutual funds fees calculated if the year is negative?

aren't the fees typically on assets, not gains? so they always win; and sometimes you do.
by kaneohe
Sat May 02, 2020 10:13 am
Forum: Personal Investments
Topic: Question on how RMDs affect a spending plan in retirement.
Replies: 16
Views: 1198

Re: Question on how RMDs affect a spending plan in retirement.

https://www.irahelp.com/slottreport/taking-non-cash-required-distributions-your-ira "When individuals take withdrawals from their IRAs, it's usually a cash withdrawal. By cash, we don't mean dollar bills; instead it's usually done by issuing a check. But it's possible to take a non-cash withdrawal ...
by kaneohe
Sat May 02, 2020 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Possible cash withdrawal error by bank?
Replies: 37
Views: 1682

Re: Possible cash withdrawal error by bank?

Perhaps consider opening another account with lower balance where such an error would be more obvious. OP said here (https://www.bogleheads.org/forum/viewtopic.php?f=2&t=291781#p4777023) that he already has about ten accounts. What occurred here is the risk you run when instead of reconciling bank ...
by kaneohe
Sat May 02, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Possible cash withdrawal error by bank?
Replies: 37
Views: 1682

Re: Possible cash withdrawal error by bank?

One issue is that your normal balance is quite large so it is easy to see how a 2K discrepancy would be missed. Perhaps consider opening another account with lower balance where such an error would be more obvious Well, this account is/was paying over 2% interest so the $50 or so interest a month w...