Search found 3886 matches

by TropikThunder
Thu Mar 28, 2024 2:35 am
Forum: Personal Investments
Topic: Is it possible to Exchange AAPL stock for VTSAX at Vanguard?
Replies: 9
Views: 1427

Re: Is it possible to Exchange AAPL stock for VTSAX at Vanguard?

increment wrote: Tue Mar 26, 2024 9:45 am At the moment, the cash for your AAPL stock transaction will not appear until the second day after you sell.
That’s not true. The proceeds from the sale of a stock or ETF are immediately available for the purchase of something else (“available to trade”). You only have to wait for settlement if you're intending to remove the funds from the account (“available to withdraw”).
by TropikThunder
Mon Mar 25, 2024 11:07 pm
Forum: Personal Investments
Topic: VXUS Dividends showing up as all non-qualified
Replies: 17
Views: 1814

Re: VXUS Dividends showing up as all non-qualified

On my Fidelity account, dividends show as non-qualified all year and get adjusted for qualified and foreign-tax early in the next year before tax time and reported properly on my 1099 Doesn’t seem very user-friendly to show incorrect information, but all brokerages have little quirks like this that you have to get used to. I think Fidelity might also show capital gains in IRA’s, which is meaningless. I think it’s less “incorrect” than it is “premature”. Vanguard doesn’t parse out the qualified vs qualified split until the end of the year, so they can’t tell Fidelity what it is before then. If Fido were to estimate and be wrong, I imagine people would be even more irritated. Saying 0% is incorrect. Saying nothing would be better. Then you’d...
by TropikThunder
Sun Mar 24, 2024 10:44 pm
Forum: Personal Investments
Topic: HSA limit for partial year
Replies: 6
Views: 687

Re: HSA limit for partial year

Exchme wrote: Sun Mar 24, 2024 9:39 pm The allowed amount is the annual maximum divided by the number of months you were eligible, so just 5/12 of the total.
Or 4/12 if OP doesn’t start coverage exactly on Aug 1st.
by TropikThunder
Sun Mar 24, 2024 10:42 pm
Forum: Personal Investments
Topic: VXUS Dividends showing up as all non-qualified
Replies: 17
Views: 1814

Re: VXUS Dividends showing up as all non-qualified

Steven F wrote: Sun Mar 24, 2024 10:33 pm my understanding is that you have to hold the stock for 60 days before the exdividend date for them to be qualified.
While true, that’s not the only criterion for foreign-derived dividends.
by TropikThunder
Sun Mar 24, 2024 10:41 pm
Forum: Personal Investments
Topic: VXUS Dividends showing up as all non-qualified
Replies: 17
Views: 1814

Re: VXUS Dividends showing up as all non-qualified

rkhusky wrote: Fri Mar 22, 2024 11:10 am
Raspberry-503 wrote: Fri Mar 22, 2024 11:06 am On my Fidelity account, dividends show as non-qualified all year and get adjusted for qualified and foreign-tax early in the next year before tax time and reported properly on my 1099
Doesn’t seem very user-friendly to show incorrect information, but all brokerages have little quirks like this that you have to get used to. I think Fidelity might also show capital gains in IRA’s, which is meaningless.
I think it’s less “incorrect” than it is “premature”. Vanguard doesn’t parse out the qualified vs qualified split until the end of the year, so they can’t tell Fidelity what it is before then. If Fido were to estimate and be wrong, I imagine people would be even more irritated.
by TropikThunder
Thu Mar 21, 2024 11:28 pm
Forum: Personal Investments
Topic: Total US Stock Market ETF which distributes dividends annually?
Replies: 5
Views: 858

Re: Total US Stock Market ETF which distributes dividends annually?

henryphseven wrote: Thu Mar 21, 2024 10:32 pm I'm thinking about investing in a Total US Stock Market ETF. I checked VTI, ITOT, SPTM, and SCHB, but all of them distribute dividends quarterly.
I wonder if there is any such ETF which distributes dividends annually?
Thank you.
You might have better luck with a mutual fund rather than an ETF. When I had a 403b with TIAA, their total US fund only distributed dividends annually.
by TropikThunder
Thu Mar 21, 2024 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Is a part-Roth conversion considered a Roth contribution?
Replies: 7
Views: 529

Re: Is a part-Roth conversion considered a Roth contribution?

Just an aside: there is no income limit on contributions to a tIRA, just on deductions.
by TropikThunder
Wed Mar 20, 2024 6:34 pm
Forum: Personal Investments
Topic: TIAA 403b: Rollover options to Vanguard after exit (Roth Backdoor hurdle)
Replies: 3
Views: 436

Re: TIAA 403b: Rollover options to Vanguard after exit (Roth Backdoor hurdle)

There are other options besides rolling it into an IRA at Vanguard.
orygunboxer wrote: Wed Mar 20, 2024 6:25 pm I am nowhere near retirement age
That implies you’re employed somewhere else? I would roll the 403b into my new employer’s plan. No rollover IRA, no prorata concerns.
by TropikThunder
Wed Mar 20, 2024 12:08 pm
Forum: Personal Investments
Topic: Dividend shock: Help me reduce dividends
Replies: 30
Views: 4027

Re: Dividend shock: Help me reduce dividends

Hayden wrote: Wed Mar 20, 2024 11:16 am I'm puzzled by the people who say things like, i'm converting up to the top of the 22% bracket.
That’s not meant to be taken literally.

Then again, every brokerage house reports and distributes end-of-year dividends and capital gains before Dec 31, giving time to “top off” conversions. The only thing I know of that doesn’t get reported to the investor by Dec 31 are K-1 earnings.
by TropikThunder
Sat Mar 16, 2024 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Student loan "refinance" with credit card balance balance transfer?
Replies: 15
Views: 900

Re: Student loan "refinance" with credit card balance balance transfer?

tashnewbie wrote: Fri Mar 15, 2024 3:45 pm Having the student loan is actually probably a net positive for your credit score because it is revolving credit
Loans are installment credit, not revolving credit.
by TropikThunder
Fri Mar 15, 2024 12:08 am
Forum: Personal Investments
Topic: Revocable Trusts and I Bonds
Replies: 4
Views: 1114

Re: Revocable Trusts and I Bonds

billf wrote: Thu Mar 14, 2024 1:43 pm Follow-up question on this rather old OP...

Now that I have both an individual and a trust account (under the same tax ID), can I do the following:
  • Buy $10K in my trust account
  • Buy $10K in my individual account
  • The next day, transfer $10K from my individual account to my trust account?
Why?
by TropikThunder
Thu Mar 07, 2024 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Transfer Car ownership to daughter or not?
Replies: 41
Views: 5169

Re: Transfer Car ownership to daughter or not?

If the car is intended to be a gift to your adult child, then I would complete the transfer. I understand young folks these days may need economic assistance from their parents after graduation but owning a 6-7 year old car and paying the tax and insurance is a great way to start to adult. Under very, very few circumstances would I carry an adult college graduate on my own auto insurance. Old thread, I know, but I did transfer ownership of the cars to my college senior daughter, but our insurance policy has me as primary and she and rest of family as other insured. My understanding is that liability follows car ownership, not the insurance policy.... A lot of that depends on whether she is still considered a member of your household (plus ...
by TropikThunder
Wed Feb 28, 2024 9:25 am
Forum: Investing - Theory, News & General
Topic: Do cap-weighted funds strictly align with BH philosophy?
Replies: 118
Views: 9125

Re: Do cap-weighted funds strictly align with BH philosophy?

thatbrian wrote: Wed Feb 28, 2024 12:34 am so when it does soar, you won't have been invested in it properly until *after* it does.
That’s completely opposite of how it works. I’m buying the next Apple or Tesla now, I just don’t know what it’s called. When it booms, I’ll already own it, having paid its share price when it was only a minnow.

I think this is another example of a fundamental misunderstanding of how an index fund works. If a stock increases its market share, the fund doesn't need to buy any more of it to maintain weighting. If you’d rather wait until a stock explodes in price to buy it, go for it.
by TropikThunder
Wed Feb 28, 2024 9:20 am
Forum: Personal Investments
Topic: Has anyone invested in marijuana stocks?
Replies: 91
Views: 12836

Re: Has anyone invested in marijuana stocks?

Jeepergeo wrote: Wed Feb 21, 2024 7:54 pm Legal does not equate to moral. So no, I have not invested in them.
But alcohol, tobacco and guns are fine?
by TropikThunder
Wed Feb 14, 2024 11:05 pm
Forum: Investing - Theory, News & General
Topic: Any studies to refute dividend yield & chill?
Replies: 161
Views: 12301

Re: Any studies to refute dividend yield & chill?

gt4715b wrote: Wed Feb 14, 2024 9:05 pm I'm looking for papers that have looked specifically into SWRs in the context of an stock dividend, income-focused portfolio.
Are they any to support it?
by TropikThunder
Mon Feb 12, 2024 9:49 pm
Forum: Personal Investments
Topic: should i pay off a car at 1.9% or invest in a cd at 5.5%
Replies: 67
Views: 6387

Re: should i pay off a car at 1.9% or invest in a cd at 5.5%

Squirrel208 wrote: Mon Feb 12, 2024 8:21 pm
KDM302a1 wrote: Mon Feb 12, 2024 7:09 pm Car is a 21 with 30k miles on it and I still owe $17k @ 1.9%. I can pay it off but thought it better to put in a 5.5%cd. Thoughts?
Wealthy people don't get that way by financing the purchase of depreciating assets. <shrugs>
They do when they can make more investing the money they would have used on the car. Are you anti-mortgage too?
by TropikThunder
Fri Feb 09, 2024 2:21 pm
Forum: Personal Investments
Topic: Why BlackRock not used as much?
Replies: 45
Views: 5432

Re: Why BlackRock not used as much?

mikejuss wrote: Fri Feb 09, 2024 2:17 pm Probably because their fees are prohibitive.
Are Vanguard’s fees prohibitive? The iShares S&P500 ETF (IVV) has an ER of 0.03%, same as VOO.
by TropikThunder
Fri Feb 09, 2024 2:19 pm
Forum: Personal Investments
Topic: Why BlackRock not used as much?
Replies: 45
Views: 5432

Re: Why BlackRock not used as much?

familythriftmd wrote: Fri Feb 09, 2024 2:16 pm I know that BlackRock has the honor of having greater asset load than any other firm. So why are we not talking about/using it as much as Vanguard, Fidelity, Schwab, etc.? Is it not consumer-facing or something?
Blackrock isn’t a brokerage so you can’t buy any of their funds directly from them.
by TropikThunder
Fri Feb 02, 2024 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Spending--EOBs Suffcient for IRS??
Replies: 19
Views: 2053

Re: HSA Spending--EOBs Suffcient for IRS??

hamhocs wrote: Fri Feb 02, 2024 10:54 am
TropikThunder wrote: Thu Feb 01, 2024 7:00 pm
cowdogman wrote: Thu Feb 01, 2024 5:56 pm My question: Are insurance company EOBs sufficient proof for the IRS of medical and Rx expenses?
I would think no. The EOB will show what you owed, not what you paid.
Agree with this. You could have been reimbursed with FSA or Insurance Rewards. My hospital also gives a discount for paying in full. I do keep all EOBs and card statements. I also have a spreadsheet that tracks everything and accounts for expenses and what I actually paid. Also factors in mileage to/from doctors offices.
Also, it’s not uncommon for EOB’s to be revised and have little resemblance to what someone actually ends up paying (like if the wrong billing codes were submitted). There’s a reason they’re all stamped with “this is not a bill”.
by TropikThunder
Thu Feb 01, 2024 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Spending--EOBs Suffcient for IRS??
Replies: 19
Views: 2053

Re: HSA Spending--EOBs Suffcient for IRS??

cowdogman wrote: Thu Feb 01, 2024 5:56 pm My question: Are insurance company EOBs sufficient proof for the IRS of medical and Rx expenses?
I would think no. The EOB will show what you owed, not what you paid.
by TropikThunder
Thu Feb 01, 2024 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: HSA overcontribution > How do I fix this?
Replies: 14
Views: 1451

Re: HSA overcontribution > How do I fix this?

peterw wrote: Tue Jan 30, 2024 6:42 pm 4. I know the $76 will be considered additional taxable income. How about the $888 I contributed to the Fidelity HSA from my after-tax brokerage account? Will that be taxable also?
The $888 that you contributed from your brokerage isn’t taxable income, it’s just not deductible for 2023. The earnings on that $888 will be taxable income for 2024, reported in 2025.
by TropikThunder
Mon Jan 15, 2024 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much can I contribute to HSA? - slight twist
Replies: 3
Views: 437

Re: How much can I contribute to HSA? - slight twist

dundee wrote: Mon Jan 15, 2024 4:23 pm Question - Can I still contribute the max possible HSA for family coverage? That amount is $9300 (or $10,300 after April)? or am I limited to $4150 since my wife has her own insurance also?
Her other medical coverage does not affect your HSA eligibility, so you can do the full family limit + catch-up.
by TropikThunder
Mon Jan 15, 2024 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Tap Roth account for home downpayment?
Replies: 15
Views: 1581

Re: Tap Roth account for home downpayment?

ThankYouJack wrote: Mon Jan 15, 2024 6:08 am I'm still adding significant contributions
Then you can afford to pay back a 401k loan, and/or quickly pay of a small mortgage. IMO that argues even more towards leaving the Roth money where it is.
by TropikThunder
Mon Jan 15, 2024 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Tap Roth account for home downpayment?
Replies: 15
Views: 1581

Re: Tap Roth account for home downpayment?

stan1 wrote: Mon Jan 15, 2024 9:35 am I'd take a 401K loan (repaid in 12-24 months) before I withdrew from a Roth IRA.
As controversial as 401k loans are here, I’d do the same. At least with a 401k loan you can put the money back. That and the negative aspects of 401k loans that people bring up here are almost hysterically overblown (and no longer even true given the TCJA changes).
by TropikThunder
Sun Jan 14, 2024 12:28 pm
Forum: Personal Investments
Topic: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio
Replies: 91
Views: 11643

Re: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio

What I don’t know: 5 Should the at&t stock be sold only a little each year to minimize taxes? Depends on the answers to #1 and what retired@50 said. If it’s in an IRA, then no tax consequences of selling, only for withdrawing. If it’s in a taxable brokerage, then it depends on what kind of step up basis occurred which depends on (a) how the stock was owned (joint or individual), and (b) where she lives (community property or not). If step up is correct (and depending on how long ago he died), and the stock has stumbled recently, it’s entirely possible she can sell a big chunk of it and diversify with no tax consequence. My first choice for an 80-year old with several million dollars would be a retirement income fund like what all the T...
by TropikThunder
Fri Jan 12, 2024 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Employer recoup HSA funds
Replies: 15
Views: 1709

Re: Employer recoup HSA funds

LotsaGray wrote: Thu Jan 11, 2024 11:26 pm
peteyboy wrote: Thu Jan 11, 2024 12:56 pm Think about it this way...they can deposit pay into your checking account but they can't withdraw from it.
They most certainly can withdraw from your checking account if they make an error and over pay you.
Yes, they can claw back payroll. The difference with payroll though is that when you sign up for direct deposit, you given them *permission* to withdraw deposits made in error. There’s no such clause in signing up for an HSA.
by TropikThunder
Thu Dec 28, 2023 11:16 am
Forum: Personal Finance (Not Investing)
Topic: $700k Tax Bill
Replies: 80
Views: 17598

Re: $700k Tax Bill

Jack FFR1846 wrote: Thu Dec 28, 2023 11:09 am Buy a vehicle that's over 6000 pounds and only drive it for business. You can depreciate it $25,000 a year. Here's a list of vehicles: https://www.taxfyle.com/blog/list-of-ve ... r-6000-lbs

Keep your present car for personal travel.
Good plan. That’ll drop his tax bill all the way down to, what, $690k?
by TropikThunder
Tue Dec 26, 2023 12:34 pm
Forum: Personal Investments
Topic: I am stuck with Fidelity Zero in brokage account with over 1.2M and 50% gain.
Replies: 76
Views: 14374

Re: I am stuck with Fidelity Zero in brokage account with over 1.2M and 50% gain.

Vanguard User wrote: Tue Dec 26, 2023 12:16 am I have FZROX for my Roth IRA on 100%.
That’s a totally different situation since there’s no tax due if you sell in an IRA.
by TropikThunder
Fri Dec 22, 2023 12:50 am
Forum: Investing - Theory, News & General
Topic: Taxable accounts more tax-friendly at withdrawal time?
Replies: 56
Views: 28413

Re: Taxable accounts more tax-friendly at withdrawal time?

Florida Orange wrote: Thu Dec 21, 2023 1:25 pm
TropikThunder wrote: Tue Dec 19, 2023 11:16 pm Right on cue! But is $1.00 in a Roth better than $1.25 or $1.50 in traditional? That’s the more accurate comparison for a lot of people.
It depends on your tax bracket.
That’s my point. But the comment about a dollar in a Roth being better is misleading because it ignores how that dollar got there. In the same vein, a pizza that got delivered is generally better than a pizza you had to go pick up, if you get to ignore the delivery fee.

I don’t expect to change anyone’s mind though.
by TropikThunder
Tue Dec 19, 2023 11:16 pm
Forum: Investing - Theory, News & General
Topic: Taxable accounts more tax-friendly at withdrawal time?
Replies: 56
Views: 28413

Re: Taxable accounts more tax-friendly at withdrawal time?

Don't forget about the taxes paid or not paid when the money went into the account. Exactly!! I don’t get why people bring up questions like this and totally ignore the tax situation at the contribution end. It costs $1 of income to put $1 into a traditional 401k/IRA/HSA but it costs more than $1 of income to put $1 into a Roth or taxable account, upwards of $1.50 in some cases. And yet you still get people mindlessly saying “a dollar in a Roth is worth more than a dollar in traditional”. As a general rule, a dollar in a Roth IRA is better than a dollar in a taxable account which is better than a dollar in a traditional IRA. Right on cue! But is $1.00 in a Roth better than $1.25 or $1.50 in traditional? That’s the more accurate comparison ...
by TropikThunder
Tue Dec 19, 2023 12:51 pm
Forum: Personal Investments
Topic: Employer Post Tax Contributions to 403b
Replies: 13
Views: 1150

Re: Employer Post Tax Contributions to 403b

dan7800 wrote: Tue Dec 19, 2023 11:50 am Upon recently reviewing my paystub, I realized that my employer was making post-tax contributions to my 403b after I hit the 22,500 limit this year.
Just to be clear the employer is not making the contributions (as it if were a match). The employer is processing employee contributions into the after-tax, non-Roth account. The OP is written as if it’s employER funds rather than employEE funds but I’m not saying OP thinks that.
by TropikThunder
Thu Dec 07, 2023 12:23 am
Forum: Personal Finance (Not Investing)
Topic: How to tax deduct upcoming losses in Roth IRA: Brilliant?
Replies: 53
Views: 7718

Re: How to tax deduct upcoming losses in Roth IRA: Brilliant?

calmaniac wrote: Wed Dec 06, 2023 8:49 pm From my viewpoint, you've taken a loss in shares of VTI in your Roth IRA account, which is not eligible to use as a loss to use against capital gains. Nothing you've proposed is going to mitigate that loss.
No no, he’ll make the withdrawal before VTI drops. Then when it drops in taxable, he’ll book the loss and move the money (plus idle cash to offset the loss) back to the Roth.

I’m just waiting for OP to come back and say he was kidding and that he’s surprised anyone took it seriously. 🤷‍♂️
by TropikThunder
Wed Dec 06, 2023 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to tax deduct upcoming losses in Roth IRA: Brilliant?
Replies: 53
Views: 7718

Re: How to tax deduct upcoming losses in Roth IRA: Brilliant?

Yeah all you need to do is identify a time in advance when it’s going to drop by enough to make it worthwhile. Easy peasy.
by TropikThunder
Wed Dec 06, 2023 2:16 pm
Forum: Personal Investments
Topic: HSA - HealthEquity & Fidelity 2023/2024
Replies: 6
Views: 863

Re: HSA - HealthEquity & Fidelity 2023/2024

If these excess funds hit Fidelity before 2024 (they probably will), can I designate that it's for 2024 on the Fidelity side? Strictly, speaking you can't re-designate a 2023 HSA contribution for 2024. You can make 2023 contributions up to the filing deadline in 2024 but there's no direct mechanism to go the other direction. However, there is a way you can effectively move the 2023 overage to 2024 in two steps. 1. Leave everything as it is (including moving it to Fidelity), and don't try to remove the excess. File Form 5329 Additional Taxes on Qualified Plans for 2023, which will determine the overage and calculate the excise tax (6%). If your $1,000 estimate is accurate, the tax due with your 2023 return will be $60. 2. Reduce your HSA co...
by TropikThunder
Wed Dec 06, 2023 2:00 pm
Forum: Personal Investments
Topic: HSA - HealthEquity & Fidelity 2023/2024
Replies: 6
Views: 863

Re: HSA - HealthEquity & Fidelity 2023/2024

hmrambling wrote: Wed Dec 06, 2023 11:43 am Alternatively, my wife also has an HSA. Can I keep the excess as-is and say that the excess goes toward the family amount allowed? My wife has not maxed out her 2023 HSA.
To clarify, both you and your wife have single HDHP coverage, both have eligible HSA’s, and while *your* HSA is maxed out, hers is not?

I believe that when two spouses each have single HDHP coverage, then both are limited to the single HSA contribution limit since there is no “family” coverage on either side. You can only share the family limit when both spouses have family coverage.

That said, are you over 55? There’s a +$1,000 max for that.
by TropikThunder
Mon Dec 04, 2023 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can you give stock to younger kid who has no income to save taxes
Replies: 32
Views: 3961

Re: Can you give stock to younger kid who has no income to save taxes

Did I miss the part where OP says how old the daughter is? Everyone is assuming she’s a minor dependent child but nowhere has OP stated that (although some posts have been edited). “Daughter” could just as easily mean “adult daughter”.
by TropikThunder
Fri Nov 17, 2023 9:37 pm
Forum: Personal Investments
Topic: Backdoor Roth on Vanguard
Replies: 11
Views: 1734

Re: Backdoor Roth on Vanguard

Wouldn't you want to convert ALL shares (or ALL dollars, for that matter) if you intend to do the backdoor Roth process in subsequent years? Why would you want to leave a balance in your traditional IRA and subject future conversions to the pro rata rule? No hurry to convert. There is an advantage in keeping the t-IRA fund "alive": reopening it is subject to a minimum initial investment. Pro-rata rule does not generate any real tax load . A dollar here, a dollar there, and sometimes a tax deduction, when you account for Federal and state taxes. Well, if you're fine with leaving some of the tIRA funds where they are, then I don't see why this: the amount converted would have been subject to next day closing price. would be a big d...
by TropikThunder
Wed Nov 08, 2023 10:46 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 6024

Re: Problem with Fidelity, or am I expecting too much?

This is NOT TRUE. 8606 is absolutely required and relevant. All gains on the withdrawal are taxed. Sorry but your are not correct in this scenario. Your scenario was different because of your existing tIRA balances. OP is not doing a conversion (see my prior comment just above). The entire account balance is taxed on withdrawal as reported on the 1099R generated when the money leaves the 401k. Form 8606 is to report and track non-deductible contributions . OP’s contributions were deducted , which is why they are taxable on withdrawal. Form 8606 is not relevant. Not until I had converted all my tIRA funds and ended a tax year with $0 in all tIRA account did I finally move 401k money to tIRA. Again, OP is not doing a conversion, they are doi...
by TropikThunder
Wed Nov 08, 2023 10:40 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 6024

Re: Problem with Fidelity, or am I expecting too much?

Doesn't a conversion of a pre-tax contribution in a Traditional 401K to a Roth IRA (or 401K), trigger an 8606? I checked on TurboTax HERE and it says this: We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return: Nondeductible contributions made to a traditional IRA Distributions from a traditional, SEP, or SIMPLE IRA that had nondeductible contributions (excluding rollovers, conversions, recharacterizations, qualified charitable distributions, one-time distribution to fund an HSA, or return of certain contributions) Conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain...
by TropikThunder
Wed Nov 08, 2023 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4904

Re: FSA Boy meets HSA girl... classic story...

SpookyKG wrote: Wed Nov 08, 2023 1:23 pm Tropik - this is super helpful. Theoretically (I bolded your most relevant point) it seems that if we get married after Dec 1 and before the end of the year we would have no problem with her HSA (my FSA is totally spent), and would be able to file jointly for the entire year... best of both worlds (if there is a financial benefit to filing as a married couple, which I can calculate). Is that right?
That's how I understand it, yes.
by TropikThunder
Wed Nov 08, 2023 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4904

Re: FSA Boy meets HSA girl... classic story...

toddthebod wrote: Tue Nov 07, 2023 4:46 pm Does it matter that it's employer funded? Everything I've read says you can't contribute to an HSA if you have an FSA.
No, an ineligible individual can't get HSA contributions made on their behalf, either.
by TropikThunder
Wed Nov 08, 2023 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4904

Re: FSA Boy meets HSA girl... classic story...

There's a lot of misinformation and bad advice in this thread. :( It's come to my attention that if you are married, if one partner has an FSA (Flexible Spending Account), it means the other partner CANNOT save in an HSA. I've reviewed some other posts on the topic: https://www.bogleheads.org/forum/viewtopic.php?t=205699 This is correct. If Spouse 1 has a general purpose FSA (medical, dental, vision), then Spouse 2 is ineligible to contribute to an HSA. This is due to two things: (1) FSA funds can automatically be used on spouses and dependents, which results in (2) the spouse having "other health coverage", which is not allowed as far as contributions are concerned. Spouse 2 can keep their existing HSA and spend the money in it, ...
by TropikThunder
Wed Nov 08, 2023 12:20 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 6024

Re: Problem with Fidelity, or am I expecting too much?

bubblepuppy wrote: Tue Nov 07, 2023 9:53 pm A follow up question regarding the IRS Form 8606, Nondeductible IRAs. Is this something that TurboTax generates automatically or is it something you have to fill out yourself?
An 8606 also isn’t relevant because your contributions have already been deducted when they went into the 401k.
by TropikThunder
Wed Nov 08, 2023 11:15 am
Forum: Personal Investments
Topic: No more lump sums for me!
Replies: 83
Views: 11236

Re: No more lump sums for me!

meadowrue wrote: Thu Oct 05, 2023 5:53 pm Silver lining for me is the DCA into my 401K. At least I know I get to buy both during the highs and the lows. Anyone else regret lump sum investing?
That’s not just a silver lining for me, that’s my whole strategy. I DCA into my traditional 401k. I lump sum into my Roth IRA and my HSA. I like the tax diversification and it definitely reduces “timing regret”.
by TropikThunder
Sun Nov 05, 2023 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a 120k car... yes, I need your help
Replies: 275
Views: 34095

Re: Buying a 120k car... yes, I need your help

My advice: don’t ask a car question on Bogleheads. The only approved vehicle choices are a used Toyota Camry or Honda Accord, preferably early 2000’s with over 100,000 miles.

Anything more extravagant and you’re doomed to homelessness and cat food.
by TropikThunder
Thu Nov 02, 2023 3:04 pm
Forum: Personal Investments
Topic: Timing of placing bids for treasury note auctions
Replies: 3
Views: 542

Re: Timing of placing bids for treasury note auctions

Since you are placing non-competitive orders for treasuries whether you place bids early or later in the open bidding period won't impact the price/rate you receive. Be aware that Schwab, and other brokerages as well, will have their own earlier cut-off time for treasury auction orders that can be surprisingly earlier (maybe as early as the close of prior trading day) than the actual time of the auction. So if you want to place an order I'd do it on the early side so you don't forget or run into un-correctable complications (like not having enough cash correctly in the settlement account if its a non-margin account). Thank you! Will place order today... Yeah I was going to buy some 17-week ones yesterday (01 Nov) but I forgot the cutoff ti...
by TropikThunder
Thu Nov 02, 2023 2:39 pm
Forum: Investing - Theory, News & General
Topic: Can vanguard force transition to brokerage platform?
Replies: 207
Views: 31198

Re: Can vanguard force transition to brokerage platform?

Nate79 wrote: Wed Nov 01, 2023 8:09 pm While it is commonly said on BH that they can't, I believe there are ways if they really want to. Tell the TD America customers who got forced transitioned to the Schwab platform that this isn't possible. No consent needed.
I see it as a self-resolving issue anyway, considering new customers haven't been allowed to open legacy accounts for what, 10-15 years now?

(except for those in the financial industry who can't have a Vanguard brokerage account)
by TropikThunder
Thu Nov 02, 2023 2:38 pm
Forum: Investing - Theory, News & General
Topic: Can vanguard force transition to brokerage platform?
Replies: 207
Views: 31198

Re: Can vanguard force transition to brokerage platform?

aristotelian wrote: Thu Nov 02, 2023 12:27 pm Have you noticed them charging any fees? My mom was a long time holdout. I know they wore her down somehow, I believe by charging a monthly or annual fee.
I know there have been several threads about the per-account fees on the legacy platform not being waived by using electronic statements. And they can add up considering each mutual fund holding is its own "account".
by TropikThunder
Sat Oct 28, 2023 1:48 am
Forum: Personal Finance (Not Investing)
Topic: severance package negotiating
Replies: 46
Views: 6747

Re: severance packaging negotiating

Dottie57 wrote: Fri Oct 27, 2023 1:54 pm
pizzy wrote: Fri Oct 27, 2023 11:16 am People get severance when they quit/retire?
My employer wanted younger people in software development, so they offered those with 10+ years at the employer and over 50 a sweet deal to leave. Lots left. Me too.
That’s completely different though. In your situation, the employer wanted people to leave, and incentivized them to do so. In OP’s case, they just don’t like the new ownership structure and want to leave of their own volition.
by TropikThunder
Fri Oct 27, 2023 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: severance package negotiating
Replies: 46
Views: 6747

Re: severance packaging negotiating

jebmke wrote: Fri Oct 27, 2023 11:33 am
pizzy wrote: Fri Oct 27, 2023 11:18 am
jebmke wrote: Fri Oct 27, 2023 11:17 am
pizzy wrote: Fri Oct 27, 2023 11:16 am People get severance when they quit/retire?
if you play your hand correctly, yes. Very situation specific.
Interesting. I assume "situation specific" when it's resign/retire in lieu of termination.
not always
Why are you being so cryptic? If someone wants to quit because of an ownership change, I can’t see why the new owners would reward them on the way out.