Search found 4728 matches

by kaneohe
Sat Jun 16, 2018 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Contributions & Lifetime Gift Tax Exclusion
Replies: 2
Views: 344

Re: 529 Contributions & Lifetime Gift Tax Exclusion

Agree w/ you on both points. On pt 2, you could similarly contribute 45K in yr 2............which could be split 9K over yrs 2-6 but then could not contribute any more till yr 6.
by kaneohe
Sat Jun 16, 2018 7:39 am
Forum: Investing - Help with Personal Investments
Topic: Should fixed income allocation necessarily change over the years?
Replies: 11
Views: 662

Re: Should fixed income allocation necessarily change over the years?

A possible way of thinking about your situation: 1) a more conventional conservative allocation 50-50 Once you have achieved that in an amount sufficient to support you under various situations, 2) then you are investing the excess in equities (for heirs/charities). The net result is a higher than c...
by kaneohe
Fri Jun 15, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

If I take the money from my amended return refund (late tIRA deduction) and reinvest it into the same tIRA will that reinvestment be tax deductible again? Am I thinking about this wrong? thanks Perhaps it might help not to think about "where" the money came from.......in the OP, you were thinking o...
by kaneohe
Wed Jun 13, 2018 10:18 am
Forum: Investing - Help with Personal Investments
Topic: Confused about 2018 capital gains tax rules
Replies: 11
Views: 1268

Re: Confused about 2018 capital gains tax rules

........................................... 1)From what I have read, it appears that long-term capital gains in 2018 are treated, more or less, as capital gains in 2017. 2) That is, the gains will be taxed based on my income level excluding the gains. 3)Thus, if my income minus dedications is less ...
by kaneohe
Tue Jun 12, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term gains and Tax Bracket
Replies: 14
Views: 1530

Re: Long-term gains and Tax Bracket

..................... Perhaps I'm missing some core concept . I don't understand how specially-taxed income (eg Long term gains, Roth withdrawals) and normal income (eg a paycheck from work) are calculated within the tax bracket. Is the "normal" income taxed at the higher or lower end of the tax br...
by kaneohe
Fri Jun 08, 2018 3:40 pm
Forum: Personal Consumer Issues
Topic: Source of objective assessment of Medicare B,C,D
Replies: 33
Views: 1902

Re: Source of objective assessment of Medicare B,C,D

https://www.google.com/search?source=hp&ei=VOYaW4vcEYrY_wTaqLSoBw&q=rating+medicare+supplement+insurance+companies&oq=rating+medicare+&gs_l=psy-ab.1.0.0l2j0i22i30k1l8.292.5281.0.15509.17.15.0.1.1.0.80.1015.15.15.0....0...1c.1.64.psy-ab..1.16.1019.0..35i39k1j0i67k1j0i131k1j0i20i264k1j0i20i263k1.0.JL...
by kaneohe
Thu Jun 07, 2018 10:53 am
Forum: Personal Finance (Not Investing)
Topic: 60-day rollover withholding question
Replies: 3
Views: 232

Re: 60-day rollover withholding question

The distribution (100%) will be reported to you on a 1099-R. Enter the distribution on 1040 line 16a. Enter 0 on 1040 line 16b for the taxable amount. Enter "rollover" for transaction description for line 16........so no special forms needed. Not familiar w/ TT but I would guess that it should guide...
by kaneohe
Thu Jun 07, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Question on RMD Example From IRS.GOV
Replies: 3
Views: 349

Re: Question on RMD Example From IRS.GOV

In the example 2 below, if there are NO IRA funds by January 1, 2015 (Say, all funds were converted by December 2014), then can one assume that NO RMD (for 2015) is involved as there are funds? Extract From IRS.GOV: ........................... Ex 1: deleted Ex 2: You are retired and your 70th birth...
by kaneohe
Thu Jun 07, 2018 7:08 am
Forum: Investing - Help with Personal Investments
Topic: RMD donations using checks
Replies: 26
Views: 1361

Re: RMD donations using checks

................................................n the string of responses asked why not just have Vanguard send the check directly. That's a good strategy 80% of the time for planned giving. The other 20% is when the charity is promoting a "match" (such as what public television frequently does), o...
by kaneohe
Mon Jun 04, 2018 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Annuitizing a deferred / variable annuity?
Replies: 41
Views: 2016

Re: Annuitizing a deferred / variable annuity?

There is usually no good solution to an investment-type annuity. If you cash it in all at once, you'll bunch the income into a single year. If you keep it, including if you annuitize it, you'll continue to incur the costs of the annuity and you'll continue to turn the future qualified dividends and...
by kaneohe
Mon Jun 04, 2018 7:45 am
Forum: Investing - Theory, News & General
Topic: HSA and FSA for Married Couple?
Replies: 6
Views: 498

Re: HSA and FSA for Married Couple?

https://www.hsaedge.com/2017/08/17/can- ... a-and-fsa/

Seems to agree w/ you . Not sure what to do........can you at least stop one of the plans now?
by kaneohe
Mon Jun 04, 2018 6:25 am
Forum: Personal Consumer Issues
Topic: How a credit card refund is applied?
Replies: 25
Views: 1435

Re: How a credit card refund is applied?

This , in my experience, seems to be company-related. Most often for me, the credit is applied to the next payment due. However, there is at least one company that makes you pay the full next payment and applies the credit to the next payment after that. Call them.........if you get 2 out of 3 answe...
by kaneohe
Sun Jun 03, 2018 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Ca. state tax question
Replies: 10
Views: 870

Re: Ca. state tax question

It may be useful to understand that the CA 540 form starts w/ Fed AGI on the 540 line 13. To tweak that into CA AGI, you use Sch CA (540) to adjust the various line items. It helps that the line item numbers on that form are consistent w/ the 1040 line numbers. There may be some confusion about exac...
by kaneohe
Fri Jun 01, 2018 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

................................................... Btw retiredjg, what type of pre tax income sources could be used to make a deductible Tira contribution? A work sponsored plan where the money is taken out of a paycheck before taxes? Any other examples of a deductible Tira contribution? I can't s...
by kaneohe
Fri Jun 01, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

don't know what paid preparers use but the Volunteer AARP Tax-Aide folks use this form https://www.irs.gov/pub/irs-pdf/f13614c.pdf Pt IV...line 2 asks about retirement plans/IRAs. In the real world, taxpayers sometimes don't fill it out correctly/completely and the preparer is supposed to nag about ...
by kaneohe
Fri Jun 01, 2018 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

................................................................ I pay a guy to do my taxes but I didn't think I needed to mention my TIRA until realizing just today that I was using post-tax dollars to contribute. thanks You may want to reconsider if this is the right guy for you. The tax guy shou...
by kaneohe
Fri Jun 01, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 2210 annualized
Replies: 5
Views: 414

Re: IRS Form 2210 annualized

Thanks. Looks like a nice calculator........easy to input data. Seems to be missing the old folks extra deduction tho. It also has other problems. See When can you buy TurboTax for 2018 tax year? - Bogleheads.org for some alternatives. Thanks for the warning! No kids so may be ok for now. It got sa...
by kaneohe
Fri Jun 01, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

................................................................... Your post was very helpful. I am definitely contributing after-tax (non-deductible) dollars. My contributions are coming out of my paycheck which has already been taxed. This is a bit confusing...........are you saying you are maki...
by kaneohe
Fri Jun 01, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 2210 annualized
Replies: 5
Views: 414

Re: IRS Form 2210 annualized

Thanks. Looks like a nice calculator........easy to input data. Seems to be missing the old folks extra deduction tho.
by kaneohe
Fri Jun 01, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: IRS Form 2210 annualized
Replies: 5
Views: 414

Re: IRS Form 2210 annualized

Hi, Is there a excel worksheet or online site that I can enter my income to annualized for the form 2210? I don't need it to calculate the tax or the penalty, just to annualized the income and itemized deductions. Thanks Don't know of any but to annualize the income isn't it just a matter of gettin...
by kaneohe
Thu May 31, 2018 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

If you were in the 25% bracket when you made a "already taxed" contribution to TIRA, you paid 25% on that contribution. If you make a pretax contribution (by deducting your contribution), then you will pay taxes at your marginal rate when you withdraw. If your rate is 15% when you retire/withdraw yo...
by kaneohe
Thu May 31, 2018 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: I think I made an Traditional IRA mistake- Can it be fixed?
Replies: 60
Views: 3543

Re: I think I made an Traditional IRA mistake- Can it be fixed?

Your situation is not clear. You said you don't have a retirement plan at work. That would mean you could deduct your contributions (making them pretax)unless you were married and your spouse was enrolled in a retirement plan. https://www.irs.gov/retirement-plans/ira-deduction-limits Once you clarif...
by kaneohe
Thu May 31, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATE My Medigap Plan G went from 115 to 251
Replies: 33
Views: 3566

Re: My Medigap Plan G went from 115 to 251

Do you have documentation that your initial premium was for issue age policy for first and perhaps some subsequent yrs? Seems like you should be able to hold them to the initial type policy that you got. No, I forgot that there was no discussion of issue age when I switched to G. My mistake...but s...
by kaneohe
Thu May 31, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Writing Checks on a Schwab IRA
Replies: 22
Views: 1009

Re: Writing Checks on a Schwab IRA

I don't know about Schwab but Vanguard limits the mutual funds that can use the check writing feature (usually only bond funds). ...................... Don't know for sure either about Schwab but if you ask them to write the QCD checks, they tell you it is better if you have cash in the IRA. If the...
by kaneohe
Wed May 30, 2018 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATE My Medigap Plan G went from 115 to 251
Replies: 33
Views: 3566

Re: My Medigap Plan G went from 115 to 251

Could you clarify if this is an Attained-Age, Issue-Age, or Community Rated plan? Attained-Age plans are susceptible to larger increases, but I have not seen a jump this large. It would surprise me if this was an Issue-Age, or Community Rated plan Funny you should ask. I called and the increase was...
by kaneohe
Sat May 26, 2018 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Just wanted to clarify how taxation works on LTCG rate and Roth conversion
Replies: 20
Views: 1216

Re: Just wanted to clarify how taxation works on LTCG rate and Roth conversion

https://www.bogleheads.org/forum/viewtopic.php?t=86849 or perhaps seeing it in a picture might help.....see tfb's stacked bar chart (post from 12/11/11). If you have LTCG to the top of the 15% (ordinary) bracket, then the addition of ordinary income will displace a similar amount of LTCG into the n...
by kaneohe
Sat May 26, 2018 11:57 am
Forum: Investing - Help with Personal Investments
Topic: Just wanted to clarify how taxation works on LTCG rate and Roth conversion
Replies: 20
Views: 1216

Re: Just wanted to clarify how taxation works on LTCG rate and Roth conversion

My question is, now every $1 more of Roth conversion will result in an additional 27 cent tax (the 12% ordinary tax for the $1 and as it pushes LTCG into 15%, a $1 of that will also be taxed at 15%). Aren't you assuming that the entire $1 coming for the Roth conversion is a long term capital gain? ...
by kaneohe
Sun May 20, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: child turning 18 - stop filing as dependent?
Replies: 23
Views: 2067

Re: child turning 18 - stop filing as dependent?

Even dependents get their standard deduction, they just aren't eligible for their personal exemption, and personal exemptions are worth $0 with the tax reform. Whether your child is your dependent will affect who is eligible to claim the AOTC for your college student, parents or child. I’m over the...
by kaneohe
Tue May 15, 2018 6:59 am
Forum: Investing - Theory, News & General
Topic: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?
Replies: 14
Views: 1477

Re: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?

Opened a savings acct plus credit card w/ HSBC for much smaller $ amount (15K) and lower bonus ($450). Similar time terms for account open. Everything went OK except I could never get a form for auto paying cc. Tried 5-6x but never got it until I finally talked to a particular rep who finally broke...
by kaneohe
Mon May 14, 2018 8:32 am
Forum: Investing - Theory, News & General
Topic: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?
Replies: 14
Views: 1477

Re: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?

Opened a savings acct plus credit card w/ HSBC for much smaller $ amount (15K) and lower bonus ($450). Similar time terms for account open. Everything went OK except I could never get a form for auto paying cc. Tried 5-6x but never got it until I finally talked to a particular rep who finally broke ...
by kaneohe
Thu May 10, 2018 8:59 pm
Forum: Investing - Help with Personal Investments
Topic: Estimated Tax on Large Capital Gain
Replies: 34
Views: 2131

Re: Estimated Tax on Large Capital Gain

....................................................................... I anticipate that my withholding amount will be similar to last year and in 2017 I received a refund of 1.5k. My normal income is about 85k a year. ..................................................................................
by kaneohe
Wed May 09, 2018 7:18 pm
Forum: Investing - Help with Personal Investments
Topic: Estimated Tax on Large Capital Gain
Replies: 34
Views: 2131

Re: Estimated Tax on Large Capital Gain

You can use the safe harbor of paying thru withholding at least 100% of the previous yrs taxes which suggest that your current status might be ok. http://www.fairmark.com/estimate/howmuch.htm
Of course, if you do this, that lump for the CG will be due in April next yr.
by kaneohe
Tue May 08, 2018 9:22 pm
Forum: Personal Consumer Issues
Topic: How to remove garden hose nozzle that is stuck on a hose
Replies: 40
Views: 3544

Re: How to remove garden hose nozzle that is stuck on a hose

As others have suggested, try muscle using 2 vise grip pliers,pipe wrench, etc. When/if you finally get them undone, check for cause. I thought it might be debris that was on the threads but instead, it was because there was no washer on one end causing threading to go further than it should have.
by kaneohe
Sun May 06, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax not allowed to consider Qualified Dividends?
Replies: 15
Views: 1116

Re: Estimated Tax not allowed to consider Qualified Dividends?

Looking over IRS Form 1040-ES Estimated Tax Worksheet for payment amounts due, it considers AGI as all ordinary income without factoring any qualified dividends. ...................................................... you missed this in the wksht: 4 Tax. Figure your tax on the amount on line 3 by us...
by kaneohe
Wed May 02, 2018 12:21 pm
Forum: Investing - Help with Personal Investments
Topic: Incorrect nondeductible IRA cost basis on Form 8606
Replies: 10
Views: 823

Re: Incorrect nondeductible IRA cost basis on Form 8606

Glasgow wrote:
Wed May 02, 2018 10:52 am
Can I send all years in one package or they have to be in separate envelope?
I also have another’s amendment for 2017 due to unaccounted interest from a CD account.
send them all together w/ explanatory note.
by kaneohe
Wed May 02, 2018 7:12 am
Forum: Investing - Help with Personal Investments
Topic: Incorrect nondeductible IRA cost basis on Form 8606
Replies: 10
Views: 823

Re: Incorrect nondeductible IRA cost basis on Form 8606

Just fix it........start w/the earliest and fix each subsequent yr. Send all the 8606s in w/ an explanatory note. Is 1040-X for corresponding year needed to be sent in as well? Looks like all you did was add more non-deductible contributions each yr so you didn't affect taxes? No distributions take...
by kaneohe
Tue May 01, 2018 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: Incorrect nondeductible IRA cost basis on Form 8606
Replies: 10
Views: 823

Re: Incorrect nondeductible IRA cost basis on Form 8606

Just fix it........start w/the earliest and fix each subsequent yr. Send all the 8606s in w/ an explanatory note.
by kaneohe
Tue May 01, 2018 10:57 am
Forum: Investing - Theory, News & General
Topic: Questions about RMDs
Replies: 41
Views: 5560

Re: Questions about RMDs

From numerous discussion on RMDs on this forum, taking Qualified Charitable Distributions (QCD) are identified and substantial. However, QCD must be part of the RMD and can only be taken after you actually turn 70.5 in November. If you attempt to take QCDs after you have withdrawn the entire requir...
by kaneohe
Tue May 01, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Help deciding if I can withdraw from Roth IRA
Replies: 2
Views: 329

Re: Help deciding if I can withdraw from Roth IRA

Here is a table created by kawill of the fairmark.com site: As noted below and as listed in the table, the ordering rules say that contributions come out first, followed by conversions (oldest first), and finally earnings. In your case being < 59.5 and with no conversions.......................contr...
by kaneohe
Sat Apr 28, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Allowances - Tax
Replies: 50
Views: 2683

Re: Allowances - Tax

This calculation can only be as accurate as your knowledge of what your tax will be for the year. If you don't know,it is a rather hopeless situation. If you do know , either from tax software (beware 2018 has new rules) or from a tax calculator like HR Block or Taxcaster, then there is hope. Rathe...
by kaneohe
Sat Apr 28, 2018 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Allowances - Tax
Replies: 50
Views: 2683

Re: Allowances - Tax

This calculation can only be as accurate as your knowledge of what your tax will be for the year. If you don't know,it is a rather hopeless situation. If you do know , either from tax software (beware 2018 has new rules) or from a tax calculator like HR Block or Taxcaster, then there is hope. Rathe...
by kaneohe
Sat Apr 28, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Allowances - Tax
Replies: 50
Views: 2683

Re: Allowances - Tax

This calculation can only be as accurate as your knowledge of what your tax will be for the year. If you don't know,it is a rather hopeless situation. If you do know , either from tax software (beware 2018 has new rules) or from a tax calculator like HR Block or Taxcaster, then there is hope. Rather...
by kaneohe
Thu Apr 26, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Denial- How to Proceed?
Replies: 12
Views: 1772

Re: Medicare Denial- How to Proceed?

likegarden wrote:
Thu Apr 26, 2018 1:38 pm
........................................ Perhaps something was not coded correctly.
Often denials are because the doctor's office coded something incorrectly.
by kaneohe
Wed Apr 25, 2018 8:58 am
Forum: Investing - Help with Personal Investments
Topic: Customer Service with Vanguard
Replies: 50
Views: 4948

Re: Customer Service with Vanguard

ruralavalon wrote:
Sat Mar 31, 2018 2:08 pm
......................................................................
Schwab does not have a total international stock index fund. ................................
SWISX?
by kaneohe
Thu Apr 19, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make sure IRS receives my manual tax return ?
Replies: 89
Views: 6255

Re: How do I make sure IRS receives my manual tax return ?

I just mailed mine today from my local post office. They gave me tracking numbers. I can check the tracking numbers and find out when it arrived at its destination. They, state and federal, were postmarked April 16th. Perhaps you may have as I have quite often that you do not get a final delivery n...
by kaneohe
Tue Apr 17, 2018 11:12 pm
Forum: Investing - Help with Personal Investments
Topic: Record Keeping for Pretax Accounts
Replies: 2
Views: 405

Re: Record Keeping for Pretax Accounts

On occasion they can be useful. You may want to be able to demonstrate the age of the first Roth IRA you opened, or the age of each Roth conversion and whether the conversion was taxable or not, the amounts of each contribution and conversion, and any recharacterizations. These relate to whether Rot...
by kaneohe
Tue Apr 17, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Relative Never Took RMDs on Inherited IRA From 2004
Replies: 19
Views: 2617

Re: Relative Never Took RMDs on Inherited IRA From 2004

................................................ You can only put w2/earned income into an IRA (trad or Roth) As long as you have the earned income to support the IRA contribution, the cash for the contribution can come from anywhere....your earnings, your savings, cash from selling stock, and even...
by kaneohe
Tue Apr 17, 2018 9:34 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contribution for someone who didn't file a return
Replies: 4
Views: 378

Re: Roth contribution for someone who didn't file a return

Agree w/Pajamas and tomd37 and FiveK from Chart C, pg A-3 of Pub 4012: https://www.irs.gov/pub/irs-pdf/p4012.pdf "Chart C – Other Situations When You Must File You must file a return if any of the conditions below apply for 2017. 1. You owe any special taxes, including any of the following. ...........
by kaneohe
Tue Apr 17, 2018 7:04 pm
Forum: Investing - Help with Personal Investments
Topic: Specific Identification - Very Old Transaction
Replies: 7
Views: 482

Re: Specific Identification - Very Old Transaction

One thing that might help.......keep a record of all your transactions.....you can make a spreadsheet w/ purchase dates/NAV/#shares purchased; when you sell , put the corresponding sell info on the same line so you won't sell the same shares again; you can also reconstruct the VAR from the sell date...