Search found 4810 matches

by kaneohe
Sun Aug 19, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: How to Treat "Negative" Basis in Nondeductible IRA
Replies: 50
Views: 1798

Re: How to Treat "Negative" Basis in Nondeductible IRA

................................................. I know if I had $100k in basis in an IRA and it simply disappeared because I took money from Roth IRA one year....I would not be very happy about it. ........................................... I'm betting on this horse!!!...........from one voice c...
by kaneohe
Sat Aug 18, 2018 11:25 am
Forum: Investing - Help with Personal Investments
Topic: Retail Money Market Funds & "natural' persons
Replies: 2
Views: 152

Re: Retail Money Market Funds & "natural' persons

Thanks,Huey. I must be clairvoyant......had this vision that you would answer :happy
by kaneohe
Sat Aug 18, 2018 10:56 am
Forum: Investing - Help with Personal Investments
Topic: Retail Money Market Funds & "natural' persons
Replies: 2
Views: 152

Retail Money Market Funds & "natural' persons

Looking at retail money market fund..........Schwab Advantage Money Fund (SWVXX).....says only" natural" persons can use. (other class is institutional money funds). If account is titled in name of jt. revocable living trust with H/W as jt owners, can we use this fund? Is the trust a "natural" perso...
by kaneohe
Tue Aug 14, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: No one seems to have an answer - NIIT on Short Term Cap Gains
Replies: 10
Views: 692

Re: No one seems to have an answer - NIIT on Short Term Cap Gains

Mark has already answered your question. This link might be useful https://turbotax.intuit.com/tax-tips/investments-and-taxes/incentive-stock-options/L4azWgfwy Example 2 seems to match your case best although not quite.....it assumes you exercise and sell immediately so have compensation income but ...
by kaneohe
Fri Aug 10, 2018 5:56 pm
Forum: Investing - Help with Personal Investments
Topic: Untangling a Trad IRA
Replies: 9
Views: 762

Re: Untangling a Trad IRA

I don't think the order matters but you do have to make sure that you don't put any basis into the 401K. This can be tricky since the value in the TIRA may vary w/ market changes. Some suggest that you do the Roth conversion version first to be sure this conversion takes all of the basis into the Ro...
by kaneohe
Wed Aug 08, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: (Federal) Supplemental income tax rate questions
Replies: 4
Views: 396

Re: (Federal) Supplemental income tax rate questions

.................................... Related question: if I elect a dollar amount of additional W4 withholding per paycheck, that additional withholding amount is not taken from pay that is subject to supplemental income tax rates. I can't find a way to choose that the additional elective W4 withho...
by kaneohe
Tue Aug 07, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: When are the taxes due on rental property sale
Replies: 14
Views: 911

Re: When are the taxes due on rental property sale

Another safe harbor is withholding 90% of current yr taxes........
by kaneohe
Fri Aug 03, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 990

Re: Capital gain, safe harbor rule, AMT: advice

I think the scenario w/ the CGs is legit.......see F2210 pt I where you calculate the required annual payment.... you compare 90% of current yr tax on line 5 vs 100 (or 110%) of last yr tax on line 8 and take the minimum. On some kinds of income like CGs, w/h is not common. Not so sure about W2 inco...
by kaneohe
Fri Aug 03, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 990

Re: Capital gain, safe harbor rule, AMT: advice

cas.....agree w/ everything you said. Fortunately OP has 8 mos. to figure out the self-created dilemma and only has to deal w/the safe harbor based on 2017 tax now.
by kaneohe
Fri Aug 03, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 990

Re: Capital gain, safe harbor rule, AMT: advice

Good advice from MarkNYC and gtaylor about trying to increase withholding to avoid the underpayment penalty. The easiest way may be to just put something in line 6 of the W4.....additional amt to w/h per paycheck and just make the rest of it the same as current W4. Then you know exactly what will ha...
by kaneohe
Fri Aug 03, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 990

Re: Capital gain, safe harbor rule, AMT: advice

................................................................... The same principle applies to CA, except that CA always uses 100% of prior year tax, and CA requires 70% of required estimated tax paid through the 2nd quarter rather than 50%, with zero due for 3rd quarter. Mark........looks like ...
by kaneohe
Fri Aug 03, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 949

Re: IRMAA and MAGI Definition Confusion

The Medicare threshold for IRMAA is an MAGI < $170K. My goal is to assure I am below this threshold. To do this, I might need to re-characterize a portion of a Roth conversion done this year . I believe you can still recharacterize a Roth conversion done in 2017 thru Oct 15 (if you filed an extensi...
by kaneohe
Fri Aug 03, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 949

Re: IRMAA and MAGI Definition Confusion

The table on page 2 of the Congressional Research Service will probably answer your question on how to calculate the right MAGI https://fas.org/sgp/crs/misc/R43861.pdf BruceM Great find! seems that table for Medicare MAGI does not agree w/ this handbook tho........p.2 https://www.ssa.gov/pubs/EN-05...
by kaneohe
Fri Aug 03, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 990

Re: Capital gain, safe harbor rule, AMT: advice

When you are aiming for the normal safe harbors, you are expected to pay each quarterly payment in equal installments. If you pay less, each payment is looked at separately and if you are deficient a penalty is calculated starting that quarter until you catch up to the "straight line" that represent...
by kaneohe
Tue Jul 31, 2018 6:49 am
Forum: Investing - Theory, News & General
Topic: No capital gains?
Replies: 4
Views: 566

Re: No capital gains?

I have not looked up the history of those funds but it is likely there were no CG distributions since VG index funds are very good about that. There could very well be unrealized CG within those funds however so your funds could very well have appreciated during the yr. It can be a good thing not to...
by kaneohe
Mon Jul 30, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about deductibles with family coverage healthcare plan
Replies: 9
Views: 705

Re: Confused about deductibles with family coverage healthcare plan

I am reviewing a healthcare plan and had a concern regarding deductibles. Here is the part of the plan in question: Individual, per BENEFIT PERIOD $6,650 Family MEMBER, per BENEFIT PERIOD $6,650 Family, per BENEFIT PERIOD $13,300 If one or more DEPENDENTS are covered, all covered family MEMBERS con...
by kaneohe
Mon Jul 30, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare supplemental, etc.
Replies: 24
Views: 1447

Re: Medicare supplemental, etc.

one of the basics.........which doctors can you see.......here in the US; if you travel abroad....same question.
by kaneohe
Sun Jul 29, 2018 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement Companies
Replies: 62
Views: 4639

Re: Medicare Supplement Companies

I don't have a ton of experience, having been on Medicare for only a couple of years, but I've been extremely satisfied with the AARP United Healthcare supplement (Plan L). Of course, I cannot speak for the others. It's odd that AARP/United is not your lowest-cost alternative, because it has been f...
by kaneohe
Sun Jul 29, 2018 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Frugality and Cash Rewards: What to keep vs. what to let go
Replies: 16
Views: 2273

Re: Frugality and Cash Rewards: What to keep vs. what to let go

We have the awesome 2% cash back card too, (as well as one that gives back 4% cash back on anything travel-related which is the AARP Visa). Thanks for the input! Our AARP Visas only give 3% back for travel (the other gives only 3% for restaurants). Since the Costco Visa gives the same rewards for t...
by kaneohe
Sat Jul 28, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA to Roth IRA - Tax Planning Question
Replies: 12
Views: 857

Re: Traditional IRA to Roth IRA - Tax Planning Question

Everything is taxable for the reason you gave. Your income is relatively low so should not be too much.
by kaneohe
Fri Jul 27, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 7615

Re: Best Available 2018 tax estimator

Thank you boglesmind for recommending the "Mortgage Calculator". That worked out perfect for me. Where do you put in 401k contributions in this one? I just subtracted from gross since no category seemed to fit. There generally is no category for 401K contributions since your W2 will report the Fede...
by kaneohe
Fri Jul 27, 2018 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 7615

Re: Best Available 2018 tax estimator

Thank you boglesmind for recommending the "Mortgage Calculator". That worked out perfect for me. Where do you put in 401k contributions in this one? I just subtracted from gross since no category seemed to fit. There generally is no category for 401K contributions since your W2 will report the Fede...
by kaneohe
Fri Jul 27, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Preliminary Version of Revised Form 1040 Released by IRS
Replies: 10
Views: 1080

Re: Preliminary Version of Revised Form 1040 Released by IRS

Drafts of the schedules are here. https://apps.irs.gov/app/picklist/list/draftTaxForms.html?value=1040&criteria=formNumber&submitSearch=Find Ron Thanks for that. Would have been nice to have had Sch 1 on p.1 and Sch 2-6 on p.2 of single page called Sch X or something. What a waste for each Sch to b...
by kaneohe
Thu Jul 26, 2018 6:08 pm
Forum: Investing - Help with Personal Investments
Topic: Struggles with 1st QCD and RMD
Replies: 5
Views: 510

Re: Struggles with 1st QCD and RMD

I recently turned 70-1/2. :beer I have rollover IRAs with Fido and TRowe. .............................. RMD tax withholding I am a resident of California, which mandates that state income tax be withheld from my RMD distribution. Fido allows me to specify percentages for withholding federal and st...
by kaneohe
Wed Jul 25, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 7615

Re: Best Available 2018 tax estimator

So the score is now 2 to 2 (or perhaps 1 to 2 if mortgage/dinkytown are the same creation). To settle the tie, perhaps you could confer w/ the creator of the problem calculator and figure out who went wrong how. ......................................................... There may be a minor problem ...
by kaneohe
Tue Jul 24, 2018 6:42 am
Forum: Personal Consumer Issues
Topic: Medicare Plan D - Oral Cancer drugs
Replies: 5
Views: 577

Re: Medicare Plan D - Oral Cancer drugs

dm200 wrote:
Mon Jul 23, 2018 5:56 pm
No personal experience or knowledge, but I believe some such drugs are (or may be) covered under Part A or B - and not under Part D. I suggest researching that as well.
https://www.medicare.gov/coverage/presc ... tient.html
by kaneohe
Sun Jul 22, 2018 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

Electron wrote:
Sun Jul 22, 2018 4:05 pm
The Mortgage Calculator site provides a page where you can send comments or ask questions.

Refer to the bottom of the page.

https://www.mortgagecalculator.org/contact/
Good eyes and great find!
by kaneohe
Sun Jul 22, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

fortunately doesn't affect me but I'm sure the creator of that calculator would welcome inputs and darts to help improve the tool. Possibly, but it isn't immediately obvious how to do so. ............................................... You are correct.........best I could find was this w/ a phone n...
by kaneohe
Sun Jul 22, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 7615

Re: Best Available 2018 tax estimator

I have my projected 2018 taxes calculated in a spreadsheet and just tested several of the tools mentioned in this thread. The Mortgage Calculator and Dinkytown Calculator are very easy to use and I like these tools. My return is quite complex and the results of each calculator matched my spreadshee...
by kaneohe
Sun Jul 22, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. .................................................., but I didn't like this: Your taxes are estimated at $3,710. Your outstanding tax bill $3,710. This is 6.74% of your total income of $55,000. Your total ta...
by kaneohe
Sun Jul 22, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. That, unfortunately, is wrong for the refundable part of the Child Tax Credit: it allows $2K/child but the law allows only $1400/child. fortunately doesn't affect me but I'm sure the creator of that calcula...
by kaneohe
Sun Jul 22, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

Kaneohe - I assume because capital gain distributions are taxed the same way as qualified dividends the amount of those distributions could be added to qualified dividends for entry in this calculator. I am accustomed to entering those two items separately in TCE software programs and was looking f...
by kaneohe
Sun Jul 22, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term capital gains taxation question
Replies: 9
Views: 664

Re: Long-term capital gains taxation question

What livesoft says is so true ........with RE, you have depreciation recapture to deal with and perhaps more. Toy to play with https://www.mortgagecalculator.org/calcs/1040-calculator.php http://www.wgcpas.com/news/alerts/405-tax-matters-tax-implications-of-depreciation-recapture-when-selling-real-e...
by kaneohe
Sun Jul 22, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

:oops: I see now ... In re-doing my taxes using exact numbers it's still within 1% but, it seems the tax owed is slightly different between their tool and my spreadsheet (couple of hundred dollars out of about $20K). Likely something is different between implementations of the "Qualified Dividends ...
by kaneohe
Sun Jul 22, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term capital gains taxation question
Replies: 9
Views: 664

Re: Long-term capital gains taxation question

250K income less 24K std deduction (if you use that) yields 226K taxable income (assuming no other adjustments). Taxable income up to 77.4K is in 12% bracket (or perhaps lower). Income over that is in the 22% or24% brackets. CG in the >= 22% brackets is taxed at 15%. The amount below is taxed at 0% ...
by kaneohe
Sun Jul 22, 2018 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

Kaneohe - I like the calculator but where is capital gain distributions entered? tomd..........see those wide V's on the right hand side.........click on those and the whole category expands to give you the detail you want. I like the one page format so I don't have to look thru a whole bunch of st...
by kaneohe
Sat Jul 21, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. .................................. Would be nice if they allowed you to input actual numbers instead of using slider bars. .................................. One Ping You can enter actual numbers in the box...
by kaneohe
Sat Jul 21, 2018 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1835

Re: Mock-Up IRS Forms for 2018 Tax Year

jacoavlu wrote:
Sat Jul 21, 2018 6:30 pm
I think this one works pretty well

https://www.calcxml.com/calculators/tru ... calculator
does it have inputs for SS , LTCG/QDIV income?
by kaneohe
Sat Jul 21, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Parking $$ for future tax payment
Replies: 12
Views: 988

Re: Parking $$ for future tax payment

If you meet the safe harbor of 100% (or 110%) of last yrs taxes, you could delay the rest till April next yr.
by kaneohe
Fri Jul 20, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Part D IRMAA
Replies: 2
Views: 288

Re: Part D IRMAA

I don't know how the rules work w/ MA plans......just one data pt. observation. I have Medigap plan. When subject to IRMAA, both IRMAA B/D surcharges show up on SS report late in yr. for next yr. DW has MA plan. When subject to IRMAA, only the IRMAA B surcharge shows up on SS report. I don't know if...
by kaneohe
Thu Jul 19, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Have you ever purchased a pricy musical instrument?
Replies: 82
Views: 4355

Re: Have you ever purchased a pricy musical instrument?

Many decades ago, bought a higher grade violin for daughter who requested it. Forget exactly how much but I remember thinking I could buy a new car for that price. Years later, daughter moved to LA area and then joined local symphony orchestra. Within wks, she met her now husband there and some yrs ...
by kaneohe
Wed Jul 18, 2018 11:47 pm
Forum: Personal Consumer Issues
Topic: switching between AARP Medigap plans
Replies: 20
Views: 2183

Re: switching between AARP Medigap plans

If you are still enamored of UHC, remember when comparing costs, apples to apples, to include the annual AARP dues you must pay to keep your insurance. it may have changed from three years ago when I applied for an AARP/UHC Medigap plan, or maybe they lied to me, but I was told you only need to bel...
by kaneohe
Wed Jul 18, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Question about LTCG and estimated taxes safe harbor.
Replies: 2
Views: 286

Re: Question about LTCG and estimated taxes safe harbor.

She should be fine not paying anything until April. You might feel more comfortable if you look at the form/worksheets and instructions for 1040-ES (and CA 540-ES). I don't see anything there that suggests a different rule if prior yr tax was 0.
by kaneohe
Tue Jul 17, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property
Replies: 13
Views: 1015

Re: Unclaimed property

for those who have successfully recovered property from state...........how easy/long to recover? I realize this could be state-dependent but curious what kind of info/documentation you had to provide.
by kaneohe
Sat Jul 14, 2018 7:25 am
Forum: Personal Consumer Issues
Topic: Be Careful Using Mailboxes
Replies: 62
Views: 8674

Re: Be Careful Using Mailboxes

My CPA says we are his only client who insists on NOT writing checks with our tax returns but always paying online thru e-check or CCard. It just feels safer NOT to write both our full SS#s on the check as IT’S required. ................................................. doesn't change your main pt ...
by kaneohe
Sat Jul 14, 2018 6:42 am
Forum: Personal Consumer Issues
Topic: Be Careful Using Mailboxes
Replies: 62
Views: 8674

Re: Be Careful Using Mailboxes

My CPA says we are his only client who insists on NOT writing checks with our tax returns but always paying online thru e-check or CCard. It just feels safer NOT to write both our full SS#s on the check as IT’S required. ................................................. doesn't change your main pt ...
by kaneohe
Fri Jul 13, 2018 8:09 pm
Forum: Investing - Help with Personal Investments
Topic: massive Roth conversion
Replies: 39
Views: 3267

Re: massive Roth conversion

I thought that the MAGI subtracts out the Roth conversion amounts from AGI so that MAGI would be unaffected by those amounts. Nope. MAGI = AGI (Adjusted Gross Income, which includes the taxable part of any Roth Conversion) + Tax-Exempt Interest. Many kinds of MAGI inhabit this world.......this one ...