Search found 1338 matches

by nalor511
Sat Apr 10, 2021 6:27 pm
Forum: Personal Investments
Topic: If you file IRS form 1116...
Replies: 57
Views: 4404

Re: If you file IRS form 1116...

international001 wrote: Sat Apr 10, 2021 5:56 pm They are from Vanguard brokerage.
As far as I can tell, I have everything I need on my '2020 Tax Information Statement'
Right. For MF, for ty.2020, they didn't include everything they usually do. For Brokerage, you're good.
by nalor511
Wed Apr 07, 2021 7:33 pm
Forum: Personal Consumer Issues
Topic: Google Docs question
Replies: 1
Views: 246

Re: Google Docs question

I have a google docs which someone will link to their website. I put the doc in print layout and view mode, but the edit, tool bar still shows up when people click on the link to see the doc. How can I get it of it? Thanks https://stackoverflow.com/questions/27751830/how-to-share-google-spreadsheet...
by nalor511
Wed Apr 07, 2021 3:47 pm
Forum: Personal Consumer Issues
Topic: Gmail asking for birthdate
Replies: 14
Views: 1612

Re: Gmail asking for birthdate

At login, Gmail asked for a birthdate, saying it was for a federal requirement. I backed out and it didn't ask again. I logged in later, and was not asked again. Was that a legitimate request? Can I just ignore it in the future? Maybe you should contact Google about this. We're random strangers on ...
by nalor511
Wed Apr 07, 2021 3:36 pm
Forum: Personal Investments
Topic: TLH how to keep track of carryover
Replies: 18
Views: 850

Re: TLH how to keep track of carryover

I keep track of carryover losses, prior year AMT credit carryover, and foreign tax credit carryover, on a tax spreadsheet updated each year. Google docs/drive.
by nalor511
Tue Apr 06, 2021 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit (1116) - H&R Block vs TurboTax
Replies: 8
Views: 1065

Re: Foreign Tax Credit (1116) - H&R Block vs TurboTax

Thanks, and I'm glad you did post these details At the risk of telling you things you already know, the adjustment you're describing only applies if you have more than 20k of qualified foreign source dividends OR have taxable income that puts you in the 32% tax bracket or above. Do either of those ...
by nalor511
Tue Apr 06, 2021 1:08 am
Forum: Personal Finance (Not Investing)
Topic: Foreign tax
Replies: 5
Views: 441

Re: Foreign tax

My CPA emailed me, asking if there was a page from Vanguard this year on foreign income. Apparently there isn’t, so my question to the forum is how are you handling foreign income. I had $246 of foreign tax on Developed Markets, with 3279 in ordinary dividends and 2630 in qualified dividends. Thank...
by nalor511
Mon Apr 05, 2021 9:28 pm
Forum: Personal Consumer Issues
Topic: No foreign fee, reimburse atm fee cards besides Schwab?
Replies: 33
Views: 2057

Re: No foreign fee, reimburse atm fee cards besides Schwab?

Schwab is not the only one. Fidelity reimburses. So do many credit unions (mine does)
by nalor511
Mon Apr 05, 2021 9:27 pm
Forum: Personal Investments
Topic: Maxing HSA question
Replies: 10
Views: 1097

Re: Maxing HSA question

Hello I recently discovered the benefits of the HSA and I want to max it out for 2020. My employer said I can’t contribute for year 2020 HSA contribution through payroll that the deadline was 1/1/21. I thought the contribution for year 2020 cutoff was Tax filing date of May 17th. If I contribute my...
by nalor511
Sun Apr 04, 2021 2:07 pm
Forum: Personal Investments
Topic: Anyone tax gain harvesting from stock bought last March
Replies: 26
Views: 1624

Re: Anyone tax gain harvesting from stock bought last March

Question for the experts: If you've been tax loss harvesting regularly over the years and have built up a solid amount of carryover losses, are these losses used up when you do tax gain harvesting? If you have carryover losses then any gains will immediately eat up those losses, dollar for dollar, ...
by nalor511
Sat Apr 03, 2021 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss and dividends in 2000 tax filing?
Replies: 4
Views: 336

Re: Capital loss and dividends in tax 2000 tax filing?

I am preparing my 2020 tax return. Suppose I have $10,000 in dividends and $20,000 in capital loss (March 2020 sale of stock funds, aka capital loss harvesting) in my brokerage accounts. I though I could get $10,000 capital loss for the total of 2020 investment. However, the H&R Block tells me ...
by nalor511
Sat Apr 03, 2021 6:07 pm
Forum: Personal Investments
Topic: Anyone tax gain harvesting from stock bought last March
Replies: 26
Views: 1624

Re: Anyone tax gain harvesting from stock bought last March

Question for the experts: If you've been tax loss harvesting regularly over the years and have built up a solid amount of carryover losses, are these losses used up when you do tax gain harvesting? If you have carryover losses then any gains will immediately eat up those losses, dollar for dollar, ...
by nalor511
Sat Apr 03, 2021 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: A true zero wire transfer fee option
Replies: 22
Views: 1850

Re: A true zero wire transfer fee option

Schwab does 3 free domestic wires per quarter if your balance is over $100k. I’ve used it successfully. FIdelity does not limit free wires to 3. The way I think about wires is that I rarely need them, but if I need them, I really need them, so I'd rather have the ability there. The corollary to tha...
by nalor511
Sat Apr 03, 2021 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: A true zero wire transfer fee option
Replies: 22
Views: 1850

Re: A true zero wire transfer fee option

beachtech wrote: Sat Apr 03, 2021 4:41 pm Schwab does 3 free domestic wires per quarter if your balance is over $100k. I’ve used it successfully.
FIdelity does not limit free wires to 3. The way I think about wires is that I rarely need them, but if I need them, I really need them, so I'd rather have the ability there.
by nalor511
Sat Apr 03, 2021 3:22 pm
Forum: Personal Investments
Topic: Anyone tax gain harvesting from stock bought last March
Replies: 26
Views: 1624

Re: Anyone tax gain harvesting from stock bought last March

I'm not TGH because I went out of my way to TLH last march, but, man it's going to be painful with all these paper gains if I ever have to sell now... ACA cliff, state tax, etc
by nalor511
Sat Apr 03, 2021 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: A true zero wire transfer fee option
Replies: 22
Views: 1850

Re: A true zero wire transfer fee option

I have a chase premier plus account, which is advertised to have zero domestic incoming and outgoing wire fee (see https://www.chase.com/content/dam/chase-ux/documents/personal/checking/ABSF-en.pdf page 3). Many bloggers on the Internet also believe so. I received two wire transfer recently, and go...
by nalor511
Sat Apr 03, 2021 2:35 pm
Forum: Investing - Theory, News & General
Topic: Box Spreads as Loans - Interactive Brokers IBKR - 2021
Replies: 107
Views: 6048

Re: Box Spreads as Loans - Interactive Brokers IBKR - 2021

I've read the whole thread, and a few others, and still don't quite get it. What are you borrowing against, is it against your brokerage assets like you would be when using margin?
by nalor511
Sat Apr 03, 2021 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: How to resolve tax disagreement with my CPA?
Replies: 28
Views: 4335

Re: How to resolve tax disagreement with my CPA?

Just to post my experience, one year I paid an excess of $ ($12k) in AMT , due to some very unusual circumstances. The next year, I was not subject to AMT. I had about 4 detailed back and forth borderline arguments with my CPA before finally getting my current-year tax return revised with a $10k+ pr...
by nalor511
Fri Apr 02, 2021 2:54 pm
Forum: Personal Consumer Issues
Topic: Laser Printer: Buy a New One?
Replies: 54
Views: 3752

Re: Laser Printer: Buy a New One?

d18lover wrote: Fri Apr 02, 2021 2:40 pm Can't hardly find a color laser printer in stock. Very limited supplies, chip shortage or what?
There was this pandemic and everyone bought printers...
by nalor511
Fri Apr 02, 2021 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refile 2020 1040 for $15.00 1099R income mistake?
Replies: 10
Views: 1433

Re: Refile 2020 1040 for $15.00 1099R income mistake?

Thank you for your reply. Box 1 is the distribution amount where I had my ‘after-tax’ 401k contribution if 30k and box2a had $15 taxable amount. I reported the $30k as rollover amount on 1040 line 5a. But in line 5b, $15 did not appear there because I didn’t not check on of the boxes in the Turbox ...
by nalor511
Fri Apr 02, 2021 12:59 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block: Fixing Names/SSNs for MFJ
Replies: 5
Views: 500

Re: H&R Block: Fixing Names/SSNs for MFJ

In H&R Block, for Married Filing Jointly, when one spouse sold securities in the prior year, do Form 8949 and Schedule D each need to be labeled with the spouse’s name/SSN who actually sold the securities? The H&R Block interview does not ask which spouse owned the securities (as it does wi...
by nalor511
Thu Apr 01, 2021 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act & Form 8915-E & TIRA to Roth conversions
Replies: 9
Views: 442

Re: CARES Act & Form 8915-E & TIRA to Roth conversions

... spreading our 2020 TIRA to Roth conversions over tax years 2020-2022. ...Form 8915-E appears to be mind-numbingly complex. Is this true? Are you saying that you can convert $10,000 in 2020, and pay taxes on each $3333 over three years? I do not think conversions qualify for the special cares ac...
by nalor511
Thu Apr 01, 2021 8:02 pm
Forum: Investing - Theory, News & General
Topic: VG Rep change out of the blue
Replies: 6
Views: 421

Re: VG Rep change out of the blue

Silk McCue wrote: Thu Apr 01, 2021 8:00 pm What is “Poor customer service”.

Cheers
All the brokers are the same, nobody has great service, it's not cost effective
by nalor511
Thu Apr 01, 2021 7:07 pm
Forum: Personal Consumer Issues
Topic: Laser Printer: Buy a New One?
Replies: 54
Views: 3752

Re: Laser Printer: Buy a New One?

I have a dell color laser that gets EXTREMELY light use that I’ve had since 2004 and still works fine. Oops, never mind as it looks they are out of the biz. As a consolation, link to wire cutter review. Maybe just get the cheapest one and replace it when it breaks in a few years. https://www.nytime...
by nalor511
Thu Apr 01, 2021 3:02 pm
Forum: Investing - Theory, News & General
Topic: Box Spreads as Loans - Interactive Brokers IBKR - 2021
Replies: 107
Views: 6048

Re: Box Spreads as Loans - Interactive Brokers IBKR - 2021

Here’s my order : SELL 1 SPX CALL 3950 BUY 1 SPX CALL 3975 SELL 1 SPX PUT 3975 BUY 1 SPX PUT 3950 For the options expiring in 2023. Selling the box for around $24.65 for a sub 1% loan. Never gets filled. I was filled at 0.45-0.5% above risk-free rates for similar boxes. Others reportedly got filled...
by nalor511
Thu Apr 01, 2021 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy and 2021 unemployment income
Replies: 6
Views: 452

Re: ACA subsidy and 2021 unemployment income

It's not updated yet. Either A) don't update your inome yet, or B) just suck it up and don't get the $3xx/mo subsidy in advance, and take it as a credit on your taxes, it will be the same amount either way.
by nalor511
Sat Mar 27, 2021 6:21 pm
Forum: Personal Investments
Topic: 68yo, considering leaving Vanguard
Replies: 27
Views: 4004

Re: 68yo, considering leaving Vanguard

If you don't like their suggestion, manage it yourself, it's easy. No reason to leave.
by nalor511
Wed Mar 24, 2021 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to have kid file a 1040x for 2019?
Replies: 8
Views: 432

Re: Do I need to have kid file a 1040x for 2019?

Sorry I wasn't clearer...kid was not a dependent for tax year 2020. So although they didn't get advanced payments I assume they're eligible to claim those on their 2020 return. Ok, but you asked about your kid filing an amended return for tax year 2019. So, for tax year 2019, could you have claimed...
by nalor511
Tue Mar 23, 2021 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: $150k AGI cliff for 2021
Replies: 16
Views: 2228

Re: $150k MAGI cliff for 2021

JBTX wrote: Tue Mar 23, 2021 6:30 pm - unemployment comp not taxable if under $150k
....
- tax exempt portion of unemployment, which would be around $2400 tax benefit.
These are (currently) only in the statute for ty.2020, right? Or are you talking about ty.2021?
by nalor511
Tue Mar 23, 2021 12:53 am
Forum: Investing - Theory, News & General
Topic: Foreign tax credit vs. nonqualified dividends
Replies: 6
Views: 811

Re: Foreign tax credit vs. nonqualified dividends

It seems to me like there are two counteracting forces for tax efficiency of total international stock fund. The foreign tax credit seems like a benefit to keeping it in taxable but the lower rate of qualified dividends seems like a drawback to keeping it in taxable. So how do these two forces weig...
by nalor511
Mon Mar 22, 2021 3:46 pm
Forum: Personal Investments
Topic: Would it be foolish for me to invest lump sump in VTWAX in taxable account instead of breaking it into VTSAX and VTIAX?
Replies: 9
Views: 907

Re: Would it be foolish for me to invest lump sump in VTWAX in taxable account instead of breaking it into VTSAX and VTI

Since VTWAX does not always get the FTC, I would break it out separately, because for say $500k invested, why would you not want a credit for the $500-600 in foreign taxes you're already paying out?

Foreign tax credit outweighs impact of unqualified dividends.
by nalor511
Sat Mar 20, 2021 9:22 pm
Forum: Personal Investments
Topic: Might It Make Sense For Foreign Index Fund In IRA?
Replies: 10
Views: 932

Re: Might It Make Sense For Foreign Index Fund In IRA?

On one of the tax threads, our tax expert Grabiner pointed out that maybe it makes sense to put index funds that pay a foreign tax into an IRA (or other tax-sheltered account). My thinking was that you lose the foreign tax credit, so this doesn't make sense. (The original poster suggested doing thi...
by nalor511
Sat Mar 20, 2021 4:20 pm
Forum: Investing - Theory, News & General
Topic: Long-term risks for VT? [Vanguard Total World Stock]
Replies: 24
Views: 2464

Re: Long-term risks for VT? [Vanguard Total World Stock]

I don't like total-world, because it doesn't get the foreign tax credit every year - I hold total-us and total-exus separately.
by nalor511
Sat Mar 20, 2021 2:39 pm
Forum: Personal Investments
Topic: Certificates of Deposits vs Money Market
Replies: 7
Views: 893

Re: Certificates of Deposits vs Money Market

Savings accounts are liquid, so, I'd use that until rate prospects are higher, and the premium is greater for CDs
by nalor511
Fri Mar 19, 2021 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: [How do I track and carry forward unused foreign tax credits?]
Replies: 25
Views: 1188

Re: [How do I track and carry forward unused foreign tax credits?]

Weelll, my income wasn't as high as I expected , won't be able to dip into my carryforward as expected, will be adding $21 to it instead, but on the plus side will be able to efile. Then we'll see what happens when you actually use the carryover. It's hard to get an answer to this question. It take...
by nalor511
Thu Mar 18, 2021 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block 3/18 update includes unemployment adjustment
Replies: 13
Views: 901

Re: H&R Block 3/18 update includes unemployment adjustment

Keep in mind not to file yet if you are waiting on state adjustments (my state didn't release new forms yet)
by nalor511
Thu Mar 18, 2021 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: [How do I track and carry forward unused foreign tax credits?]
Replies: 25
Views: 1188

Re: [How do I track and carry forward unused foreign tax credits?]

If your definition of line 10 is any credit that could possibly be carried to that year, even if it's not going to be used that year, then yes there's a recursive loop, because I've had excess foreign taxes paid each of the past 3 (or 4, I forget) years, and thus had a 1116 each of those years, and...
by nalor511
Thu Mar 18, 2021 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block 3/18 update includes unemployment adjustment
Replies: 13
Views: 901

Re: H&R Block 3/18 update includes unemployment adjustment

JCH10400 wrote: Thu Mar 18, 2021 6:46 pm Just downloaded the new H&R Block software update and noticed it includes the adjustment for the $10,200 of unemployment payments.
:sharebeer
by nalor511
Thu Mar 18, 2021 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block - software issue
Replies: 10
Views: 527

Re: H&R Block - software issue

Have you tried deleting the form 1099 completely? Or changing the numbers in it to a wild value, then save and correct? I swear sometimes software just gets stuck.... Or if the return is simple, start over with a fresh file. I'm just guessing. Good idea. I deleted each 1099 one by one and checked l...
by nalor511
Wed Mar 17, 2021 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Which credit unions offer deposit accounts paying more than 3% interest?
Replies: 74
Views: 6994

Re: Which credit unions offer deposit accounts paying more than 3% interest?

Digital Credit Union (DCU) pays 6.17% on the first $1000 of your primary savings account. Zero hoops to jump through. My family of 4 has 4 of these accounts. Cha ching. Maybe $50 after taxes per account. After a year’s time. That’s cha ching? Total for 4 of us.....$246.80 for doing absolutely nothi...
by nalor511
Wed Mar 17, 2021 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: IRS $10,200 unemployment exclusion instructions are out
Replies: 32
Views: 3445

Re: IRS $10,200 unemployment exclusion instructions are out

I have to think that CA will modify its tax return. Otherwise, eligible taxpayers will essentially reduce taxable income twice by up to $10200. Not twice, once, because those are fields where unemployment ordinarily counts, but this year (2020) $10,200 of it shouldn't, that's the intention of the l...
by nalor511
Wed Mar 17, 2021 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: APTC Repayment for 2020 - IRS guidance?
Replies: 2
Views: 275

Re: APTC Repayment for 2020 - IRS guidance?

It just happened less than a week ago, it's going to be X amount of time for the IRS + Y amount of time for tax software providers. I wouldn't stress it yet.

Plus they will it seems extend the deadline again this year
https://www.cnbc.com/2021/03/17/irs-pus ... ay-17.html
by nalor511
Wed Mar 17, 2021 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: IRS $10,200 unemployment exclusion instructions are out
Replies: 32
Views: 3445

Re: IRS $10,200 unemployment exclusion instructions are out

It reduces state income if states that normally tax unemployment compensation decide to follow the federal lead. It reduces state income for certain things (e.g. State premium subsidies) for states that already don't tax unemployment (e.g. ca) also. I have to think that CA will modify its tax retur...
by nalor511
Tue Mar 16, 2021 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Talk me out of buying a $1m condo in San Francisco in December 2020
Replies: 104
Views: 10083

Re: Talk me out of buying a $1m condo in San Francisco in December 2020

tooluser wrote: Tue Mar 16, 2021 9:32 pm One simple reason: Money is freedom. In a condo or other group financial relationship, you allow others to determine how to spend your money. Why would you do that? The hope that others are as wise or wiser than yourself?
Because they don't make SFH in condo buildings.
by nalor511
Tue Mar 16, 2021 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: E-file 2nd state (h&r block specific)
Replies: 3
Views: 205

Re: E-file 2nd state (h&r block specific)

Thank you. That makes sense, though you'd think H&RB could have told me that in the same plain English you just did. At least it was a relatively simple return, so I was able to go the state's website and e-file there - all I had to do was retype all the info that I had just typed into H&RB...
by nalor511
Tue Mar 16, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: IRS $10,200 unemployment exclusion instructions are out
Replies: 32
Views: 3445

Re: IRS $10,200 unemployment exclusion instructions are out

But it does reduce state income. :) I was worried it wouldn’t. Per usual my state liability is more than my federal. It reduces state income if states that normally tax unemployment compensation decide to follow the federal lead. It reduces state income for certain things (e.g. State premium subsid...
by nalor511
Tue Mar 16, 2021 1:39 am
Forum: Personal Finance (Not Investing)
Topic: Free File options for amended return
Replies: 6
Views: 492

Re: Free File options for amended return

FreeTaxUSA advertises unlimited amended returns with electronic filing for $14.95. Though I do not think this meets your free criteria and I doubt it meets your fill in the form criteria either. But it is an interesting offering, particularly since you do not need to have filed the original return ...
by nalor511
Sun Mar 14, 2021 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: IRS $10,200 unemployment exclusion instructions are out
Replies: 32
Views: 3445

Re: IRS $10,200 unemployment exclusion instructions are out

So now we wait for tax software products to revise Schedule 1 Line 8 as per IRS instructions. Then prepare, print and mail a paper amended return, and wait for months. (Since Adjusted Gross Income changes, the corresponding state tax return will need to be amended as well.) Swell. But it does reduc...
by nalor511
Sun Mar 14, 2021 10:00 pm
Forum: Personal Investments
Topic: Claiming the credit for Foreign Tax paid in the previous year
Replies: 3
Views: 272

Re: Claiming the credit for Foreign Tax paid in the previous year

Do you have tax liability that year? Amend
by nalor511
Sun Mar 14, 2021 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Creative Real Estate Listing Agent Fee Structure
Replies: 40
Views: 2002

Re: Creative Real Estate Listing Agent Fee Structure

Why are you willing to pay the person representing the buyer more than the person representing you? If you were being sued, would you be willing to pay more for the plaintiff's attorney than your defense? Because the buyer's agent is the one that adds the most value to the transaction. I don't need...