Search found 4941 matches

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: 9
Views: 466

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...
by kaneohe
Wed Sep 19, 2018 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Organizing an unplanned portfolio and dealing with LTCG
Replies: 13
Views: 1021

Re: Organizing an unplanned portfolio and dealing with LTCG

............................................ I dont have the courage to go down that rabbit hole. In addition it seems that I would be out of luck anyway because CA state tax doesnt have such a mechanism. ................................. if you are talking about the Annualized Income schedule for ...
by kaneohe
Wed Sep 19, 2018 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 24
Views: 2185

Re: General 2018 Tax Question

Foreign Tax Refund... must be Schedule 1 as well. We will be able to mail the new Form 1040 as a postcard, but all the supporting docs will require the usual large envelope... Why did they bother. We already had 1040EZ for those who only have to write name, address and a few more numbers. If you me...
by kaneohe
Wed Sep 19, 2018 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 24
Views: 2185

Re: General 2018 Tax Question

Recognizing the changes imposed by the 2017 Tax Cuts & Jobs Act isn't the calculation methodology for 2018 the same as it was last year - I mean isn't the new 1040 and the 6 schedules just an abbreviated way of capturing the same tax data ? Not sure I would call it abbreviated.........many schedule...
by kaneohe
Tue Sep 18, 2018 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: CA tax question with treasuries ..
Replies: 7
Views: 470

Re: CA tax question with treasuries ..

I'm voting w/ Thesaints . CA return starts w/Fed AGI . It then makes adjustments on Sch CA where the treasury interest gets subtracted out leading to the CA AGI w/ only the other income to be taxed at the lower brackets.
by kaneohe
Tue Sep 18, 2018 1:32 pm
Forum: Investing - Theory, News & General
Topic: Money Market account in a Roth quick question
Replies: 6
Views: 442

Re: Money Market account in a Roth quick question

I have a small sum of cash I'd like park somewhere and leave it be/earn something; currently it's in my bank savings account not earning much interest. Two questions : If it's in a money market (VMFXX) in the Roth, is it subject to any taxation? I will be 59.5 in a few months, so I'm assuming after...
by kaneohe
Mon Sep 17, 2018 9:42 pm
Forum: Investing - Help with Personal Investments
Topic: rmd for IRAs at multiple institutions
Replies: 18
Views: 1167

Re: rmd for IRAs at multiple institutions

I have IRAs at Fidelity and Vanguard. I also let them calculate what I owe and do each separately. If there is a query on my taxes years later, I would not like to have to prove that I took sufficient RMDs from multiple institutions. Reminds me about stories of whether you should keep your own cost...
by kaneohe
Mon Sep 17, 2018 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: California tax free fund or an AMT tax free fund?
Replies: 9
Views: 730

Re: California tax free fund or an AMT tax free fund?

Are you still subject to AMT after the changes in tax law? Many who were aren't. If you still need it here's one: https://www.morningstar.com/funds/xnas/drcax/quote.html Interesting. I will have more than 70k in taxable income (the threshold for single filers) but a lot of deductions have been elim...
by kaneohe
Mon Sep 17, 2018 6:35 pm
Forum: Investing - Help with Personal Investments
Topic: rmd for IRAs at multiple institutions
Replies: 18
Views: 1167

Re: rmd for IRAs at multiple institutions

RM.....I'm basically agreeing w/ you in the usual case. I'm sure IRS has bigger fish to fry than if you're off 1,2,3 bucks. I just wanted to mention as I did in previous post that the reason IRS might word it the way it does......... add the individual RMDS.......not add the account values and divid...
by kaneohe
Mon Sep 17, 2018 6:19 pm
Forum: Investing - Help with Personal Investments
Topic: California tax free fund or an AMT tax free fund?
Replies: 9
Views: 730

Re: California tax free fund or an AMT tax free fund?

Are you still subject to AMT after the changes in tax law? Many who were aren't.
If you still need it here's one: https://www.morningstar.com/funds/xnas/drcax/quote.html
by kaneohe
Mon Sep 17, 2018 6:02 pm
Forum: Investing - Help with Personal Investments
Topic: rmd for IRAs at multiple institutions
Replies: 18
Views: 1167

Re: rmd for IRAs at multiple institutions

Thanks for the feedback. I previously rolled my 401(k) into an IRA so the accounts would be the same. None are inherited... so I am calculated my RMD based on the total of my IRAs from both institutions. I just needed to confirm the "both institutions" part was correct. My wife is younger, 70 is a ...
by kaneohe
Mon Sep 17, 2018 5:39 pm
Forum: Personal Consumer Issues
Topic: How to tell when a Mango is ripe?
Replies: 19
Views: 1179

Re: How to tell when a Mango is ripe?

Might be overkill for you............get them from Costco....6 or so in a container. Wife has been buying them weekly this yr. All good. If you don't like them.......return them........you might even feel guilty because they'll take them back w/ no questions and dump them w/o even looking at them fo...
by kaneohe
Mon Sep 17, 2018 1:04 pm
Forum: Personal Consumer Issues
Topic: How to tell when a Mango is ripe?
Replies: 19
Views: 1179

Re: How to tell when a Mango is ripe?

https://www.google.com/search?q=ethylen ... e&ie=UTF-8

ethylene.........the brown paper bag does the same
by kaneohe
Mon Sep 17, 2018 10:51 am
Forum: Personal Consumer Issues
Topic: How to tell when a Mango is ripe?
Replies: 19
Views: 1179

Re: How to tell when a Mango is ripe?

Seems like this is somewhat of an art that comes w/ experience. There doesn't seem to be an objective quantifiable test.........like if it gives xxxx mils if I apply yyyyy pressure it is 50% ripe. The consoling thing is that it may taste good even if you are somewhat off. Some mangos are even eaten ...
by kaneohe
Mon Sep 17, 2018 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Organizing an unplanned portfolio and dealing with LTCG
Replies: 13
Views: 1021

Re: Organizing an unplanned portfolio and dealing with LTCG

............................................... 1. .................... Selling anything this year is difficult because I am not going to meet the safe harbour requirements for federal or CA withholdings in 2018, resulting in penalties. .................................... If nothing changed from 2...
by kaneohe
Mon Sep 17, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Looking for Tax Reduction moves this year
Replies: 11
Views: 1241

Re: Looking for Tax Reduction moves this year

Pay your quarterly estimated tax tomorrow to avoid penalty on underpayment. Since this is appears to be a non-recurring item, the OP may be fine with the safe harbor rules and not need to pay an estimate in order to avoid a penalty. Agree w/ jebmke..........OP may want to investigate safe harbor......
by kaneohe
Mon Sep 17, 2018 8:29 am
Forum: Investing - Help with Personal Investments
Topic: Organizing an unplanned portfolio and dealing with LTCG
Replies: 13
Views: 1021

Re: Organizing an unplanned portfolio and dealing with LTCG

.............................................. 2. The Vanguard Retirement 2045 in my taxable account causes several thousand a year in extra taxes from dividends and capital gains payouts. Any suggestions for comparing the net effect of selling it all and paying the LTCG vs just paying the addition...
by kaneohe
Sun Sep 16, 2018 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Looking for Tax Reduction moves this year
Replies: 11
Views: 1241

Re: Looking for Tax Reduction moves this year

Additional NIIT? Part of CG taxed at 20% since income is so high?

Also: calculation won't be changed but words should be? original basis (not sales price) and 25% (not 0.25%)
"250 k (The Difference between sale price & its current new basis )x 0.25 % Depreciation Recapture = $ 62500"
by kaneohe
Sat Sep 15, 2018 6:41 pm
Forum: Investing - Help with Personal Investments
Topic: Staying with the old platform Mutual Funds
Replies: 12
Views: 1189

Re: Staying with the old platform Mutual Funds

Have there been any problems after switching to brokerage acct?
by kaneohe
Fri Sep 14, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: 1040x and taxes due
Replies: 1
Views: 143

Re: 1040x and taxes due

If you can call them , perhaps you could find someone who might be able to understand your situation and advise you on the best thing to do.
by kaneohe
Fri Sep 14, 2018 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly tax payments for self-employment income?
Replies: 5
Views: 279

Re: Quarterly tax payments for self-employment income?

.............................. I have a little bit of self-employment income this year; it's more than $400 so I do need to report it. ..................................... from IRS ....... https://www.irs.gov/newsroom/reporting-miscellaneous-income sounds like all income is taxable.......the $400 ...
by kaneohe
Fri Sep 14, 2018 7:56 am
Forum: Personal Consumer Issues
Topic: How to help teenager fix silly mistakes in math?
Replies: 50
Views: 3126

Re: How to help teenager fix silly mistakes in math?

A really fast way to check math equations is to use Casting Nines or casting out nines. I’ve done this since elementary school to catch stupid errors. .................................... interesting idea.....never heard of it before.........in simple words,why the heck does it work? Might help me ...
by kaneohe
Thu Sep 13, 2018 5:30 pm
Forum: Personal Consumer Issues
Topic: How to help teenager fix silly mistakes in math?
Replies: 50
Views: 3126

Re: How to help teenager fix silly mistakes in math?

Agree w/ the advice to get a 3rd party in the school involved. Maybe you will get lucky and run into the rare caring and competent school who can diagnose and help fix student math issues. We tried numerous times and we never did. We got lots of blame and defensiveness, but ultimately we were on ou...
by kaneohe
Thu Sep 13, 2018 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: How easily can I roll one Roth IRA into another?
Replies: 15
Views: 833

Re: How easily can I roll one Roth IRA into another?

Is that 365 limit specific to Schwab or is it a federal regulation of some sort that applies to all my accounts? I do a TIRA to Roth rollover once a year in January, but entirely within Vanguard. Don't want to prevent myself from being able to do that. It's not Schwab specific......it is a federal ...
by kaneohe
Thu Sep 13, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: How to help teenager fix silly mistakes in math?
Replies: 50
Views: 3126

Re: How to help teenager fix silly mistakes in math?

Agree w/ the advice to get a 3rd party in the school involved. Even if they do exactly the same thing that you
would do, it's kind of like hiring somebody to teach them how to drive. Removes the family element which tends
in many cases to cause more friction for some reason.
by kaneohe
Thu Sep 13, 2018 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Is this even possible ? Roth IRA to tIRA (not recharactarization)
Replies: 2
Views: 212

Re: Is this even possible ? Roth IRA to tIRA (not recharactarization)

Even if you could do this (which you can't) , have you thought about the end result after taxes? My impression is that the end result would be turning a Roth into a taxable account. In the US that still would be better than TIRA if you held low cost index funds because of LTCG taxation vs ordinary t...
by kaneohe
Thu Sep 13, 2018 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: How easily can I roll one Roth IRA into another?
Replies: 15
Views: 833

Re: How easily can I roll one Roth IRA into another?

Yes, but be sure you understand you can only do this once every 365 days......once includes both your TIRA and Roths....so if you do a Roth rollover you can't do either a Roth or TIRA indirect rollover for 365 days.
by kaneohe
Thu Sep 13, 2018 9:09 am
Forum: Investing - Help with Personal Investments
Topic: Commingling pre-tax with post-tax IRA contributions
Replies: 8
Views: 546

Re: Commingling pre-tax with post-tax IRA contributions

I have an IRA that only consists of rollover contributions from past 401ks. I know that it’s possible to commingle and add post-tax contributions, but is it just easier for documentation and tax purposes to open up a separate IRA for post-tax contributions? I would prefer to have a fewer number of ...
by kaneohe
Thu Sep 13, 2018 8:48 am
Forum: Investing - Help with Personal Investments
Topic: How easily can I roll one Roth IRA into another?
Replies: 15
Views: 833

Re: How easily can I roll one Roth IRA into another?

If you do a transfer to Vanguard of the entire amount, Schwab will close the account and charge a closing fee. If you leave a balance, make sure it is high enough to avoid an annual fee. Ask Schwab to be sure .........there may also be a transfer fee to move assets out.....whether it is full or par...
by kaneohe
Thu Sep 13, 2018 2:10 am
Forum: Investing - Help with Personal Investments
Topic: rmd for IRAs at multiple institutions
Replies: 18
Views: 1167

Re: rmd for IRAs at multiple institutions

ralph124cf wrote:
Wed Sep 12, 2018 11:07 pm
My understanding is that you can also take just one 401(k) distribution if you have multiple 401(k)s.

.......................................
You must take your RMD separately from each 401K...........unlike IRAs.
by kaneohe
Tue Sep 11, 2018 6:59 pm
Forum: Investing - Help with Personal Investments
Topic: RMD will turn 70 in Nov. 2018
Replies: 22
Views: 1716

Re: RMD will turn 70 in Nov. 2018

..................................................... RMDs are considered to come from the first distribution(s) taken. .............................. If you want to make a QCD, it can only come from an IRA and only after you actually turn 70 1/2. If you want it to come from an RMD, from above it m...
by kaneohe
Tue Sep 11, 2018 10:57 am
Forum: Investing - Help with Personal Investments
Topic: RMD will turn 70 in Nov. 2018
Replies: 22
Views: 1716

Re: RMD will turn 70 in Nov. 2018

Income tax withheld from IRA distributions can reduce/eliminate the need to make estimated tax payments. I take my RMD distribution late in the year, withhold (federal) tax for the entire year, and don't make estimated federal payments for the first three quarters. (You can also withhold state taxe...
by kaneohe
Tue Sep 11, 2018 10:51 am
Forum: Investing - Help with Personal Investments
Topic: Is it worth doing a small Roth conversion now?
Replies: 16
Views: 1060

Re: Is it worth doing a small Roth conversion now?

here's kawill's wonderful table about Roth withdrawals (from fairmark.com) to minimize headaches from thinking about these things: There are 2 types of 5 yr clocks: 1)Conversion ages & 2) Age of oldest Roth. Since you will turn 59.5 y.o. before the conversions age, the conversion clocks get replaced...
by kaneohe
Tue Sep 11, 2018 10:20 am
Forum: Investing - Help with Personal Investments
Topic: RMD will turn 70 in Nov. 2018
Replies: 22
Views: 1716

Re: RMD will turn 70 in Nov. 2018

..................................................... RMDs are considered to come from the first distribution(s) taken. .............................. If you want to make a QCD, it can only come from an IRA and only after you actually turn 70 1/2. If you want it to come from an RMD, from above it m...
by kaneohe
Tue Sep 11, 2018 9:21 am
Forum: Personal Finance (Not Investing)
Topic: 529 and gift tax forms?
Replies: 11
Views: 676

Re: 529 and gift tax forms?

Note that you can exceed the limit and spread it out over 5 years and not have this count against your exclusion limit . ............................................. These words may be a bit misleading? My impression was that you can spread out over 5 yrs in equal "installments" if you so report o...
by kaneohe
Tue Sep 11, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: 529 and gift tax forms?
Replies: 11
Views: 676

Re: 529 and gift tax forms?

Note that you can exceed the limit and spread it out over 5 years and not have this count against your exclusion limit . ............................................. These words may be a bit misleading? My impression was that you can spread out over 5 yrs in equal "installments" if you so report o...
by kaneohe
Mon Sep 10, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: 529 and gift tax forms?
Replies: 11
Views: 676

Re: 529 and gift tax forms?

From the instructions for form 709: https://www.irs.gov/pub/irs-pdf/i709.pdf p.2/1st column top "If a gift is of community property, it is considered made one-half by each spouse. For example, a gift of $100,000 of community property is considered a gift of $50,000 made by each spouse, and each spou...
by kaneohe
Sat Sep 08, 2018 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on backdoor Roth withdrawals of contribution
Replies: 19
Views: 833

Re: Confirmation on backdoor Roth withdrawals of contribution

1)I’m trying to understand how a single conversion can have a taxable portion and a non-taxable portion. If a backdoor Roth conversion process was delayed so that the 5.5k non-deductible tIRA contribution grew to 6.5k before the conversion, would conversion consist of a 5.5k non-taxable portion and...
by kaneohe
Sat Sep 08, 2018 3:53 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on backdoor Roth withdrawals of contribution
Replies: 19
Views: 833

Re: Confirmation on backdoor Roth withdrawals of contribution

So it is a "non-taxable conversion" and not subject to penalty or tax. All $s in the Roth are from taxed $s. Pardon my fumbling with the semantics. ................................. Correct, you got the right answer w/ the right reasoning. We don't give out free fish but now you can go catch your o...
by kaneohe
Sat Sep 08, 2018 3:09 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on backdoor Roth withdrawals of contribution
Replies: 19
Views: 833

Re: Confirmation on backdoor Roth withdrawals of contribution

So if under 59.5 and Roth is under 5 years old, conversion $s moved over from a traditional IRA to a Roth IRA via backdoor are subject to a penalty, correct? Once the 5 year period has passed then the conversion amount CAN be withdrawn without penalty, yes? Or am I reading this incorrectly? :confus...
by kaneohe
Sat Sep 08, 2018 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on backdoor Roth withdrawals of contribution
Replies: 19
Views: 833

Re: Confirmation on backdoor Roth withdrawals of contribution

just to clarify.........the table is a wonderful tool to be used with a few other things you should know. All your Roths are considered one even if you have separate accounts. When you withdraw funds,generally the ordering rules are used : first out are contributions; then conversions, and then fina...
by kaneohe
Thu Sep 06, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting
Replies: 43
Views: 3153

Re: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting

Good point........and gave me a scare until I found the new Medicare card in wallet. 2 birds...1 stone.
by kaneohe
Thu Sep 06, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting
Replies: 43
Views: 3153

Re: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting

When you make an "internal" switch from UHC/AARP Plan F to Plan G, is it necessary to inform the medical groups? Or is it transparent to them........they bill Medicare, Medicare informs UHC/AARP, UHC/AARP pays their share and medical group has remaining costs that it bills to me. Medical group does...
by kaneohe
Thu Sep 06, 2018 7:56 am
Forum: Personal Finance (Not Investing)
Topic: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting
Replies: 43
Views: 3153

Re: UHC/AARP Switching Medigap Plan F---> Plan G Underwriting

When you make an "internal" switch from UHC/AARP Plan F to Plan G, is it necessary to inform the medical groups? Or is it transparent to them........they bill Medicare, Medicare informs UHC/AARP, UHC/AARP pays their share and medical group has remaining costs that it bills to me. Medical group doesn...
by kaneohe
Wed Sep 05, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 tax - filling marginal tax rate with Roth
Replies: 5
Views: 622

Re: 2018 tax - filling marginal tax rate with Roth

I would like to convert a portion of my traditional IRA to a Roth. Married filing jointly. In doing so, I’m looking to fill my tax bracket’s rate. I assume my actual tax rate is derived by adding social security benefit plus my pension on an annual basis, and taking away my 28k standard deduction, ...
by kaneohe
Wed Sep 05, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: My Understanding of IRS Safe Harbor Rules ...
Replies: 25
Views: 1950

Re: My Understanding of IRS Safe Harbor Rules ...

.................................. From the instructions you referenced earlier: Enter the 2016 tax you figured above unless the AGI on your 2016 return is more than $150,000 ( $75,000 if married filing separately for 2017 ). If the AGI shown on your 2016 tax return is more than $150,000 ( $75,000 ...
by kaneohe
Wed Sep 05, 2018 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: Pension contribution and affect on MAGI
Replies: 14
Views: 875

Re: Pension contribution and affect on MAGI

.......................... My wife's IRA was funded with after-tax dollars while she did not work (took time off to stay home with kids). If I understand correctly, after-tax dollars do not mingle with pre-taxed dollars; however, we deducted our contributions to this IRA. Based on the tax deduction...
by kaneohe
Wed Sep 05, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: My Understanding of IRS Safe Harbor Rules ...
Replies: 25
Views: 1950

Re: My Understanding of IRS Safe Harbor Rules ...

.......................................... To answer your questions: 2017 & 2018 Filing Status: MFJ 2017 AGI: $160,000 My reading is that the 110% still applies and the form 2210 entries shown above are still correct, right? As an aside, in reading the instructions, while I see a separate distincti...
by kaneohe
Wed Sep 05, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: My Understanding of IRS Safe Harbor Rules ...
Replies: 25
Views: 1950

Re: My Understanding of IRS Safe Harbor Rules ...

....................... For the case in the OP, the line numbers in Part 1 pf the referenced form 2210 are: Line 1 $33,000 (2018 tax owed) Line 2 $0 (other taxes) Line 3 $0 (refundable credits) Line 4 $33,000 (sum of lines 1 through 3) Line 5 $29,700 (90% of line 4) Line 6 $21,000 (tax withheld, ex...
by kaneohe
Tue Sep 04, 2018 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: My Understanding of IRS Safe Harbor Rules ...
Replies: 25
Views: 1950

Re: My Understanding of IRS Safe Harbor Rules ...

https://www.irs.gov/pub/irs-pdf/f2210.pdf This is the form you use to calculate penalty. Use p.1 to determine safe harbors based on current yr tax and prior yr tax. p.2 takes minimum of safe harbors and compares to your payments. The difference is the base for calculating the penalty. Perhaps you m...