Search found 4990 matches

by kaneohe
Fri Oct 19, 2018 12:05 am
Forum: Investing - Help with Personal Investments
Topic: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)
Replies: 8
Views: 790

Re: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)

You may want to post your question at fairmark.com in the retirement forum where it may be more likely
to catch Alan S.'s eye https://fairmark.com/forum/
by kaneohe
Fri Oct 19, 2018 12:01 am
Forum: Investing - Help with Personal Investments
Topic: How much post-tax dollars can you really put in tIRA each year
Replies: 5
Views: 403

Re: How much post-tax dollars can you really put in tIRA each year

https://www.bogleheads.org/wiki/Bbackdoor_Roth_IRA Have you read this? Your questions are confusing.........your title sounds like you want to put post-tax dollars into TIRA but post "How does backdoor work if I cannot contribute pre-tax dollars to tIRA?" suggests you want to contribute pre-tax. Wh...
by kaneohe
Thu Oct 18, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Banking 1% extra back up to $1,000 on new money deposited
Replies: 190
Views: 14482

Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Do we have the definitive answer about how to get > 1K with two people? I don't think the reps know (for sure).... they seem to talk among themselves rather w/ a higher level.....at least the one I talked to last......a group of 6 of them discussed it and gave me an "answer" instead of going to an a...
by kaneohe
Thu Oct 18, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: In What Order are Tax Credits Applied?
Replies: 6
Views: 537

Re: In What Order are Tax Credits Applied?

https://apps.irs.gov/app/picklist/list/draftTaxForms.html?indexOfFirstRow=25&sortColumn=postedDate&value=1040&criteria=formNumber&resultsPerPage=25&isDescending=true sorry no answers, just homework :happy This link provides the draft versions of the 1040 and various schedules (3,5 , and 8812 and ot...
by kaneohe
Wed Oct 17, 2018 9:32 pm
Forum: Investing - Help with Personal Investments
Topic: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)
Replies: 8
Views: 790

Re: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)

..................................................................... To sum, it sounds like you both agree it's very likely I can withdraw AT LEAST $107,561 tax-free and penalty-free. The question remains whether or not I can withdraw (tax-free & penalty-free) the additional $10,798 that were earn...
by kaneohe
Wed Oct 17, 2018 7:48 pm
Forum: Investing - Help with Personal Investments
Topic: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)
Replies: 8
Views: 790

Re: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)

Thanks Horsefly, that's helpful. Regarding the Before Tax 401k ($19,760), Company Match ($26,869), and Supplemental ($2,807) accounts, there were certainly earnings included in those figures. Do you think I'm likely ok to withdraw those amounts tax-free and penalty-free because I paid tax on those ...
by kaneohe
Wed Oct 17, 2018 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating 2018 Tax Liability
Replies: 20
Views: 2009

Re: Calculating 2018 Tax Liability

I tried the mortgage calculator and the HR Block calculator. The mortgage calculator says I will owe $2k. HR Block says I will get $7k back, but asked me for dividends and interest but did not let me enter the amounts nor my tax loss carry forward. Given how significant dividends and interest are, ...
by kaneohe
Wed Oct 17, 2018 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Ally Banking 1% extra back up to $1,000 on new money deposited
Replies: 190
Views: 14482

Re: Ally Banking 1% extra back up to $1,000 on new money deposited

........................................................ Qualified dividends in our taxable accounts are taxed at the long-term capital gains rate. In our case, we have a 0% LT cap gains rate this year based on our current tax bracket. If we tax-loss harvest this year, those qualified dividends dim...
by kaneohe
Wed Oct 10, 2018 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Double Recharacterization Question
Replies: 3
Views: 240

Re: Double Recharacterization Question

I believe you cannot recharacterize a recharacterization of a contribution . You also can't recharacterize the same contribution twice. Perhaps you should ask TRP what they intend to report next yr..........perhaps they will just report the first recharacterization and consider the second action to ...
by kaneohe
Wed Oct 10, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions
Replies: 6
Views: 750

Re: Tax Questions

If you contribute 24.5K to 401K and 3.5K to HSA , that is a total of 28K of your 30K earnings. Assuming the HSA
contribution was a pre-tax deduction, your W2 would show 2K for taxable compensation which seems like it would limit your Roth contribution to 2K for the year.
by kaneohe
Wed Oct 10, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Best Checking/ System for Cash Management/ Sweeping?
Replies: 11
Views: 1399

Re: Best Checking/ System for Cash Management/ Sweeping?

................................(I used it solely for cash withdrawls). And transfers from Chase to Schwab take 4-5 business days (a big problem in practice). ..................................................... 2. There are no automatic sweep functions that allocate money between the MM/ cash pos...
by kaneohe
Tue Oct 09, 2018 8:56 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI and Social Security
Replies: 18
Views: 1933

Re: MAGI and Social Security

Yes , and better to know you don't know or aren't sure than to not know you don't know .
by kaneohe
Tue Oct 09, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another question on cost basis for mutual fund sale
Replies: 3
Views: 385

Re: Yet another question on cost basis for mutual fund sale

You might want to confirm w/ your fund company since they will be preparing your 1099B. Also consider posting your question at fairmark.com in the capital gains forum. I understand why you think you should be able to use specific shares for non-covered shares purchased after you sold the non-covered...
by kaneohe
Tue Oct 09, 2018 11:18 am
Forum: Investing - Help with Personal Investments
Topic: MAGI and Social Security
Replies: 18
Views: 1933

Re: MAGI and Social Security

................................................................ The phrase "adjusted gross income plus certain tax-exempt income which we call "modified adjusted gross income" is confusing in this case because a person might think " certain tax-exempt income" is that part of your SS benefits that ...
by kaneohe
Mon Oct 08, 2018 8:38 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI and Social Security
Replies: 18
Views: 1933

Re: MAGI and Social Security

In defense of IRS lingo............ The confusing part is not realizing there are multiple versions of MAGI. However if you search with an appropriate descriptor and use only government sites,you get reasonably consistent answers. There is no reason to wonder about the non-taxable part of SS since u...
by kaneohe
Mon Oct 08, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Does child foreign earned income count as gross income for determining dependent status?
Replies: 6
Views: 315

Re: Does child foreign earned income count as gross income for determining dependent status?

Good job sorting that out! That is a standard issue under the "old" tax laws . As shown here https://www.irs.gov/pub/irs-pdf/p4012.pdf on p. C5 (and footnote 2), the issue of income never comes up for qualifying child. Curious how you got to qualifying relative......did TT not word questions well re...
by kaneohe
Mon Oct 08, 2018 3:29 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI and Social Security
Replies: 18
Views: 1933

Re: MAGI and Social Security

Thanks, I am clear on how to calculate the taxable portion of SS income but the instructions do not indicate if the non-taxable portion should be included in a MAGI calculation. The 15% or more of SS income that is excluded is not one of the things you add back to AGI to get MAGI. https://turbotax....
by kaneohe
Mon Oct 08, 2018 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI and Social Security
Replies: 18
Views: 1933

Re: MAGI and Social Security

Yankee53 wrote:
Mon Oct 08, 2018 1:00 pm
I assume "tax exempt interest" is not interest realized in a tIRA?
Interest realized in TIRA is tax deferred, not tax exempt.
by kaneohe
Mon Oct 08, 2018 8:03 am
Forum: Personal Consumer Issues
Topic: Medicare.gov Part D Drug Plan Accuracy?
Replies: 10
Views: 853

Re: Medicare.gov Part D Drug Plan Accuracy?

could you post drug so we can see what you see? Is it possible that one site is looking at 2019 and the other at 2018?
by kaneohe
Sun Oct 07, 2018 7:56 am
Forum: Investing - Theory, News & General
Topic: Do I understand capital loss and carryover correctly?
Replies: 3
Views: 396

Re: Do I understand capital loss and carryover correctly?

It might help to work thru an actual example on Sch D.........same as what HouseBlend said.....but actually doing it might cement it in your brain better.
by kaneohe
Sat Oct 06, 2018 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another question on cost basis for mutual fund sale
Replies: 3
Views: 385

Re: Yet another question on cost basis for mutual fund sale

http://fairmark.com/investment-taxation/mutual-fund-tax-guide/averaging/changing/ Perhaps this may be useful. I only took a quick glance so you should read w/ more care. I got the impression that rules are different for non-covered shares vs covered shares. Sounded like for non-covered shares once ...
by kaneohe
Sat Oct 06, 2018 4:36 pm
Forum: Investing - Help with Personal Investments
Topic: Required Minimum Distributions-RMDs
Replies: 5
Views: 498

Re: Required Minimum Distributions-RMDs

PFInterest wrote:
Sat Oct 06, 2018 4:10 pm
it doesnt matter. you have to take an aggregate RMD anyways.
...........................
not sure what you mean by aggregate RMD.....but if you have both an IRA and a 401K, you will need 2 separate RMDs....one from each.
by kaneohe
Fri Oct 05, 2018 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Calculating 2018 Tax Liability
Replies: 20
Views: 2009

Re: Calculating 2018 Tax Liability

.................................................. Also, probably a little late in the game to be very concerned about estimates. Moreover, missing an estimate results in interest at a modest rate and no penalties for year in which you retire if you are 62 or over, which may well be your case. Isn'...
by kaneohe
Thu Oct 04, 2018 1:23 pm
Forum: Investing - Help with Personal Investments
Topic: Opinion's: Best time to withdraw RMD's when required to do so.
Replies: 42
Views: 3258

Re: Opinion's: Best time to withdraw RMD's when required to do so.

ruralavalon wrote:
Thu Oct 04, 2018 9:19 am
You cannot make regular Roth IRA contributions without any earned income.

You can convert from a traditional IRA to a Roth IRA, regardless of earned income.
to make this more complete: as others have noted you cannot convert the RMDs from TIRAs.
by kaneohe
Thu Oct 04, 2018 7:01 am
Forum: Personal Consumer Issues
Topic: AARP UnitedHealthCare Plan G
Replies: 33
Views: 2060

Re: AARP UnitedHealthCare Plan G

................................................. Therefore, with the exception of future premium increases , unless there’s a real difference in others aspects of how the policy is administered I see no reason why you wouldn’t simply pick the lowest cost insurance. ...................................
by kaneohe
Thu Oct 04, 2018 6:56 am
Forum: Personal Consumer Issues
Topic: AARP UnitedHealthCare Plan G
Replies: 33
Views: 2060

Re: AARP UnitedHealthCare Plan G

I had AARP Plan F until a month ago when I switched to G. During the 6 yrs I had F, the premiums increased 50%. That is a 7% increase/yr of which 3% is the disappearing discount so the other component account for health care costs increasing is 4%/yr. Now that the discount is gone, that 4% should a...
by kaneohe
Wed Oct 03, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating 2018 Tax Liability
Replies: 20
Views: 2009

Re: Calculating 2018 Tax Liability

I like this one: https://www.mortgagecalculator.org/calcs/1040-calculator.php It gave the same results as this one (using 2018 results) https://www.hrblock.com/tax-calculator/#/en/te/aboutYou These two usually agree with Taxcaster. Taxcaster calculates both 2017 and 2018 results at the end. The irs ...
by kaneohe
Wed Oct 03, 2018 7:05 pm
Forum: Personal Consumer Issues
Topic: AARP UnitedHealthCare Plan G
Replies: 33
Views: 2060

Re: AARP UnitedHealthCare Plan G

I had AARP Plan F until a month ago when I switched to G. During the 6 yrs I had F, the premiums increased 50%. That is a 7% increase/yr of which 3% is the disappearing discount so the other component account for health care costs increasing is 4%/yr. Now that the discount is gone, that 4% should ap...
by kaneohe
Wed Oct 03, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Any good 2018 CA tax calculators out there?
Replies: 7
Views: 728

Re: Any good 2018 CA tax calculators out there?

CA has a tax calculator of ftb website https://webapp.ftb.ca.gov/taxcalc/calculator.aspx?Submit=2017+Tax+Calculator&Lang=english&redirectURL=OTC This is a 2017 calculator but should be reasonably close since CA has not changed tax laws like Fed. However input required is CA taxable income. You can g...
by kaneohe
Tue Oct 02, 2018 9:14 pm
Forum: Personal Consumer Issues
Topic: Any (medicare plans) experience with Silver & Fit?
Replies: 21
Views: 1170

Re: Any (medicare plans) experience with Silver & Fit?

What puzzles me about these programs with Medicare plans is how the costs are dealt with. Sure seems like this would be costly, but maybe not? I am guessing that the free gym perks attracts a healthier mix of patients, on average. Also, these plans all spend a ton on marketing (advertising in newsp...
by kaneohe
Tue Oct 02, 2018 3:34 pm
Forum: Investing - Theory, News & General
Topic: Trying to understand distribution estimates
Replies: 1
Views: 201

Re: Trying to understand distribution estimates

I would guess it is a % of NAV when they made the announcement.......they can't crystal ball future NAV either.
These guesses are just that.....guesses anyway....tho they should be able to refine them a bit later in yr.
by kaneohe
Mon Oct 01, 2018 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: AMT after Tax Reform
Replies: 4
Views: 761

Re: AMT after Tax Reform

see F6251 https://www.irs.gov/pub/irs-pdf/f6251.pdf and instructions https://www.irs.gov/pub/irs-pdf/i6251.pdf for line 29 on p.10. Assuming AMT works like it has in the past........you are given a initial exemption Eo and then a phase-out threshold Pt. The actual exemption is Eo if your income is l...
by kaneohe
Mon Oct 01, 2018 4:40 pm
Forum: Personal Consumer Issues
Topic: Any (medicare plans) experience with Silver & Fit?
Replies: 21
Views: 1170

Re: Any (medicare plans) experience with Silver & Fit?

AARP/UHC is ending its program at Silver Sneakers in CA (not sure about other states)at the end of 2018. You can provide feedback at aarpadvantages.com ......click on Contact Us at the bottom of page and a survey will appear. A free form place to provide feedback will pop up after the first question.
by kaneohe
Mon Oct 01, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling with Medicare Plan G vs Plan N
Replies: 21
Views: 1237

Re: Medicare Supplemental Insurance Plans

. billfromct, Although I am a big supporter of posting with mutual fund names instead of ticker symbols when posting on this board. Medicare Supplemental Insurance Plans like Plan G and Plan N do not have names they are simply Plan G or Plan N. There are names for the various parts of Medicare inst...
by kaneohe
Mon Oct 01, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with Medicare Plan G vs Plan N
Replies: 21
Views: 1237

Re: Struggling with Medicare Plan G vs Plan N

Chapter 15 has the answers. 3rd edition. I am not saying it will always be beneficial or cost less or more or have less or more coverage. I am saying that you can switch your plans on an annual basis. There are special enrollment timeframes also. There may be stipulations. This is just to to inform...
by kaneohe
Mon Oct 01, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with Medicare Plan G vs Plan N
Replies: 21
Views: 1237

Re: Struggling with Medicare Plan G vs Plan N

.............The price difference in my state between Plan G and Plan N is around $20-$25.00 a month. ..................... Would you go with Plan G and not have to deal with the $20.00 copays and excess charges or Plan N? ................................. RB I would have no idea how to estimate fu...
by kaneohe
Mon Oct 01, 2018 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with Medicare Plan G vs Plan N
Replies: 21
Views: 1237

Re: Struggling with Medicare Plan G vs Plan N

For one thing, you can change plans on the annual basis. So if your plan goes up and you don't like it you can look elsewhere. You will know the costs during enrollment and they will go through the following calendar year. The next year you can reassess. Once again on Medicare information, I would ...
by kaneohe
Sun Sep 30, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Reasonable, free tax forecaster
Replies: 9
Views: 942

Re: Reasonable, free tax forecaster

The income tax forecaster appears to assume everything is wages subject to FICA..........no provision for entering
CG and QDIV income........or even plain interest separately .....so be careful how you interpret it.
by kaneohe
Sun Sep 30, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: (Refundable) Child Tax Credit in 2018
Replies: 8
Views: 1397

Re: (Refundable) Child Tax Credit in 2018

...................... however much of $2000 * (# of qualifying children) plus $500 * (# of other dependents) is left over after taking the non-refundable credit, may be used - up to $1400 * (# of qualifying children) - for a refundable credit. Great news for those in a position to use this. Isn't ...
by kaneohe
Sat Sep 29, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Reasonable, free tax forecaster
Replies: 9
Views: 942

Re: Reasonable, free tax forecaster

I like this one: https://www.mortgagecalculator.org/calc ... ulator.php
because of its one-page format.

Others like Taxcaster or the HR Block calculator. Use a couple and if you get the same answer, that should give
you some confidence in the answer.
by kaneohe
Fri Sep 28, 2018 7:50 am
Forum: Investing - Theory, News & General
Topic: Roth IRA Conversion Ladder before 59.5
Replies: 25
Views: 1536

Re: Roth IRA Conversion Ladder before 59.5

Vanguard has a concise description of how this works at the bottom of their pamphlet .............................. You are probably safe if you follow those rules. However you may be restricting yourself since the real rules have more liberal rules after age 59.5 depending on the age of the oldest...
by kaneohe
Thu Sep 27, 2018 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Check My Math
Replies: 12
Views: 764

Re: Check My Math

Try the tax calculators here (for Fed) viewtopic.php?f=2&t=240283
by kaneohe
Wed Sep 26, 2018 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Is taxcaster 2018 accurate for AMT?
Replies: 15
Views: 1744

Re: Is taxcaster 2018 accurate for AMT?

I haven't used taxcaster before. I can't seem to find the 2018 edition. It seems the 2017 will move on to 2018, however my numbers have changed a lot. How do you get to Taxcaster 2018? Go to TaxCaster and enter your 2018 numbers. It will return both 2017 and 2018 tax estimates. It may or may not be...
by kaneohe
Wed Sep 26, 2018 6:06 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA Conversion Ladder before 59.5
Replies: 25
Views: 1536

Re: Roth IRA Conversion Ladder before 59.5

.............................................. If I have 0 income (living off savings) at the first year of the conversion of 40k then I will pay taxes at ordinary on the 40k of $1600 (40k minus 24k std ded = 16k AGI) with the current progressive tax brackets then 5 years later the 40k comes out ta...
by kaneohe
Wed Sep 26, 2018 4:18 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA Conversion Ladder before 59.5
Replies: 25
Views: 1536

Re: Roth IRA Conversion Ladder before 59.5

................................................ So, let's say you have $200k in your tIRA. All of it is taxable on withdrawal, since you do not have any non-deductible contributions. So, lets say you convert $40k each of the first 5 years. In each year you would have $40k of ordinary taxable incom...
by kaneohe
Mon Sep 24, 2018 11:37 pm
Forum: Personal Consumer Issues
Topic: monitor when credit freeze thaws
Replies: 8
Views: 936

Re: monitor when credit freeze thaws

Each credit bureau shows it in a different place but often in a summary near the top or bottom, before or after all your details payment history for each credit card. Usually says something like "locked by consumer" or "frozen by consumer". I agree........EXP and EQ have it before all the details a...
by kaneohe
Fri Sep 21, 2018 6:18 pm
Forum: Investing - Help with Personal Investments
Topic: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan
Replies: 14
Views: 803

Re: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan

Thanks, that makes sense.......but OP stated his rollover was "pure"....only from corp. retirement plans so if you tell 401K admin. that it's not a rollover and they reject it, then you won't be able to do the rollover you want even if it is a real rollover. No, you make sure they know when it is n...
by kaneohe
Fri Sep 21, 2018 11:46 am
Forum: Investing - Help with Personal Investments
Topic: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan
Replies: 14
Views: 803

Re: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan

Follow-up question: [/b]Why is the term "Rollover IRA" a trigger for potentially not accepting it? I believe that Alan was saying to make sure that the 401(k) admin knows that it is NOT a rollover IRA. Why would you want the 401K admin to believe it was NOT a rollover IRA if you were trying to get ...
by kaneohe
Fri Sep 21, 2018 7:00 am
Forum: Investing - Help with Personal Investments
Topic: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan
Replies: 14
Views: 803

Re: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan

Follow-up question: [/b]Why is the term "Rollover IRA" a trigger for potentially not accepting it? I believe that Alan was saying to make sure that the 401(k) admin knows that it is NOT a rollover IRA. Why would you want the 401K admin to believe it was NOT a rollover IRA if you were trying to get ...
by kaneohe
Thu Sep 20, 2018 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan
Replies: 14
Views: 803

Re: Mechanics of IRA Rollover w/ Tax Basis into Employer Plan

Follow-up question: [/b]Why is the term "Rollover IRA" a trigger for potentially not accepting it? I believe that Alan was saying to make sure that the 401(k) admin knows that it is NOT a rollover IRA. I believe Alan may have mis-stated one of the sentences. I believe this is the real thing he mean...