Search found 237 matches
- Mon Oct 03, 2022 8:30 am
- Forum: Personal Consumer Issues
- Topic: Best company for selling your car and picking it up?
- Replies: 15
- Views: 1652
- Tue Mar 05, 2019 11:26 am
- Forum: Personal Consumer Issues
- Topic: Best place to buy Microsoft Office 2019....
- Replies: 102
- Views: 13440
- Sun Feb 10, 2019 6:01 pm
- Forum: Personal Consumer Issues
- Topic: Passport Photos ?
- Replies: 85
- Views: 5981
- Mon Jan 28, 2019 10:20 am
- Forum: Personal Finance (Not Investing)
- Topic: Double Recharacterization: TIRA -> Roth -> TIRA
- Replies: 2
- Views: 234
Double Recharacterization: TIRA -> Roth -> TIRA
Hi,
In January 2018, my relative made a lump-sum contribution of $5,500 into his Vanguard Traditional IRA. In September 2018, he recharacterized it into his Vanguard Roth IRA. On Jan 13, 2019, he received Form 1099-R for that first recharacterization that has the following details:
2018 Form 1099-R:
Gross distribution (Box 1): 5,541
Distribution code (Box 7): N - Recharacterized IRA contribution made for 2018 and recharacterized in 2018.
IRA/SEP/SIMPLE: X
All other boxes: 0 or blank
In February 2019, he is considering recharacterizating that 2018 Contribution from Roth IRA back into Traditional IRA.
Assuming the second recharacterization is possible, how does he report it the whole process on the 2018 tax return?
Thanks,
Pranav
In January 2018, my relative made a lump-sum contribution of $5,500 into his Vanguard Traditional IRA. In September 2018, he recharacterized it into his Vanguard Roth IRA. On Jan 13, 2019, he received Form 1099-R for that first recharacterization that has the following details:
2018 Form 1099-R:
Gross distribution (Box 1): 5,541
Distribution code (Box 7): N - Recharacterized IRA contribution made for 2018 and recharacterized in 2018.
IRA/SEP/SIMPLE: X
All other boxes: 0 or blank
In February 2019, he is considering recharacterizating that 2018 Contribution from Roth IRA back into Traditional IRA.
Assuming the second recharacterization is possible, how does he report it the whole process on the 2018 tax return?
Thanks,
Pranav
- Tue Jan 22, 2019 3:53 pm
- Forum: Personal Consumer Issues
- Topic: Do you carry gas cans, mowers, string trimmers, etc in your car or SUV?
- Replies: 48
- Views: 6764
Re: Do you carry gas cans, mowers, string trimmers, etc in your car or SUV?
To avoid refilling/carrying gas cans periodically in our car, we switched to using a Push Reel Lawn Mower after trying out a Gas Lawn Mower for a week.
- Mon Dec 31, 2018 12:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax Return, MFJ + Adult Dependent, Foreign Pension, ACA
- Replies: 9
- Views: 782
Re: Tax Return, MFJ + Adult Dependent, Foreign Pension, ACA
Have you run their numbers through the IRS test? https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent No, but now they can. Thanks. Pranav - I would be curious to know what type of document Person C receives at year end reflecting the income she receives and what is her age? She may not even have a filing requirement based on info provided at this time. Also sounds like the mother is a qualified "other dependent" right now for A and B. They would have to check what type of document there is, if any. Person C is 82 years old. In addition to the "$4000 is very close to $4150" issue, there is the "$4000 is very close to 50% of ($20000 + $4000)/3" issue. In other words, do A+B provide more than 50% of C's ...
- Sat Dec 29, 2018 2:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax Return, MFJ + Adult Dependent, Foreign Pension, ACA
- Replies: 9
- Views: 782
Tax Return, MFJ + Adult Dependent, Foreign Pension, ACA
Hi, I am asking questions on behalf of others for Tax Year 2018. Person A and Person B are married and file jointly. They have annual income of around $20,000 through IRA Distributions and W-2. (Edit: They now have income through Roth Conversion for a total of around $24,000). Person C (Edit: Age 82) is Person B's mother and live with them. Person C has small annual pension income of around $4,000 from a foreign treasury/bank (India). All three of them are US Citizen and all three have health insurance through HealthCare.gov The couple claim Person C as dependent on HealthCare.gov and tax return, unless that is not appropriate. (Edit: The state of residence is Texas, which is not a Medicaid Expansion state.) Question 1) Do all three of them...
- Wed Nov 14, 2018 8:09 pm
- Forum: Personal Finance (Not Investing)
- Topic: PPO or HSA
- Replies: 21
- Views: 2417
Re: PPO or HSA
What are the monthly or annual premiums?
- Tue Sep 18, 2018 11:32 am
- Forum: Personal Investments
- Topic: Buying I-Bonds
- Replies: 11
- Views: 1629
- Tue Aug 21, 2018 3:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: Cap One Savor $500 bonus if you got $500 with Venture?
- Replies: 3
- Views: 750
Re: Cap One Savor $500 bonus if you got $500 with Venture?
I do not have either of those cards, but I would think one can get both bonuses. You may also contact them to verify and follow-up here so would know, too.
- Mon Aug 13, 2018 2:41 pm
- Forum: Personal Consumer Issues
- Topic: Uninsured Motorist coverage
- Replies: 30
- Views: 3784
- Mon Jun 25, 2018 8:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: anyone working overseas? pros-cons?
- Replies: 22
- Views: 3393
- Fri Jun 22, 2018 2:01 pm
- Forum: Investing - Theory, News & General
- Topic: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
- Replies: 238
- Views: 54497
Re: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
I also suggested to our local library and they now have 7 copies "On Order".TravelGeek wrote: ↑Fri Jun 22, 2018 1:02 pm I have submitted it as a suggestion to my local library and will order a hardcopy from local neighborhood bookstore
- Wed Jun 20, 2018 3:32 pm
- Forum: Personal Investments
- Topic: Selling Amazon?
- Replies: 17
- Views: 1899
Re: Selling Amazon?
Invest stock allocation in the total market.
- Wed Jun 13, 2018 3:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Anyone regret paying off mortgage early?
- Replies: 2483
- Views: 291443
Re: Anyone regret paying off mortgage early?
I regret that we initially payed extra towards mortgage while only contributing company match to 401(k).
After reading Bogleheads and other resources, I realized we should prioritize contributions to tax-advantaged accounts (401k, IRA, HSA) and then target the mortgage.
After reading Bogleheads and other resources, I realized we should prioritize contributions to tax-advantaged accounts (401k, IRA, HSA) and then target the mortgage.
- Mon May 21, 2018 1:11 pm
- Forum: Investing - Theory, News & General
- Topic: Vanguard Announces Plans To Launch Total World Bond ETF
- Replies: 30
- Views: 6038
Re: Vanguard Announces Plans To Launch Total World Bond ETF
What is the ratio of Domestic vs International in the Total Bond?
- Mon May 14, 2018 11:22 am
- Forum: Personal Consumer Issues
- Topic: What Movie Have You Recently Watched?
- Replies: 11037
- Views: 2066459
- Sun May 13, 2018 12:51 pm
- Forum: Investing - Theory, News & General
- Topic: Inherited Roth IRA question
- Replies: 4
- Views: 780
Re: Inherited Roth IRA question
Yes, your withdrawal would be tax-free. However, I would only take RMDs, so I can extend the life of Roth IRA. Then, I would invest the Roth IRA in Total Stock Market Index Fund or Total International Stock Market Index Fund according to my asset allocation.
- Thu Apr 19, 2018 6:01 pm
- Forum: Personal Investments
- Topic: Best way to move money to the US for investing
- Replies: 11
- Views: 1606
Re: Best way to move money to the US for investing
Hi guys, I have been researching on this but cannot find a solid answer. I wonder if anyone has any experience moving a lump some of money from outside of the US to a US bank or a brokerage company like Vanguard.I will be selling a piece of property outside of the US (and will therefore be taxed abroad) and I am planning to invest the earnings. I am talking about $200-300k. What's the best way to do this? Wire from bank to bank then move to Vanguard or can Vanguard accept the money from a foreign bank? Thank you in advance Fidelity definitely accepts international wires, and doesn't even charge for it. Vanguard may or may not. In any case, you can call and get wire instructions. Typically the wire goes via a correspondent bank, so the wire...
- Wed Apr 18, 2018 10:08 am
- Forum: Personal Investments
- Topic: Cost basis and Vanguard - Question
- Replies: 2
- Views: 573
Re: Cost basis and Vanguard - Question
Yes and Yes.invstar wrote: ↑Wed Apr 18, 2018 10:06 am I had recently TLH'ed by selling my taxable assets (entire lot) and the cost basis method used was "Average cost" which was the default option. Since I had sold entire lot at once, there was no issue. But do you think it would be a better idea to change the cost basis method to "SpecID"? If yes, do you think it's better to change now as I as don't know when I will need to sell them and if I will not be able to change in the last moment? Thanks.
- Wed Apr 04, 2018 12:43 pm
- Forum: Personal Investments
- Topic: Roth IRA and Taxable at VG
- Replies: 12
- Views: 1113
Re: Roth IRA and Taxable at VG
Does Vanguard offer a way to transfer directly from Taxable to IRA in one step on the same day?
- Fri Mar 30, 2018 11:19 am
- Forum: Personal Investments
- Topic: Anybody else Age - 10 in bonds, rest in stocks
- Replies: 127
- Views: 17160
Re: Anybody else Age - 10 in bonds, rest in stocks
What’s the formula with =TODAY() that increments 1/365th of a percent each day?llama wrote: ↑Sun Jan 08, 2017 1:40 amWe used to do exactly this as well until our average age hit 40. Now we're staying at 60/40 for the foreseeable future.TinkerPDX wrote:I have enjoyed my spreadsheet's real-time adjustment by pegging the bond % to a formula with the "=TODAY()" function and the average of our birthdays, so our allocation changes 1/365th of a percent each day.
- Sat Mar 24, 2018 9:43 am
- Forum: Personal Finance (Not Investing)
- Topic: Question on Ally Savings Account vs Capital One 360 MMA?
- Replies: 8
- Views: 2489
Re: Question on Ally Savings Account vs Capital One 360 MMA?
Note: 360 MMA requires $10,000 balance to earn the higher interest rate (1.5%).
- Fri Mar 23, 2018 11:16 pm
- Forum: Investing - Theory, News & General
- Topic: Pls Help me understand 2018 SALT deductions.
- Replies: 17
- Views: 2571
Re: Pls Help me understand 2018 SALT deductions.
Correctsharukh wrote: ↑Fri Mar 23, 2018 10:44 pmSo it is either:The Wizard wrote: ↑Fri Mar 23, 2018 10:19 pm You cannot take both the standard deduction AND the SALT + mortgage interest itemized deductions.
It's one or the other...
Standard : 24000
OR
SALT + mortgage interest: 10,000(Maximum allowed) + 12,000 = 22,000
Is that right?
So usually one picks the maximum of the either: So I still get to pick standard Deduction in the above situation, right?
Thanks.
- Tue Mar 20, 2018 2:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Sold house, trying to decide what to do with equity
- Replies: 11
- Views: 1384
Re: Sold house, trying to decide what to do with equity
I would prioritize in the following order:
1) Emergency / Large Expense Fund
2) Tax-Advantaged Account Contributions (401k, IRA, HSA, etc.)
3) Mortgage
https://www.bogleheads.org/wiki/Priorit ... nvestments
1) Emergency / Large Expense Fund
2) Tax-Advantaged Account Contributions (401k, IRA, HSA, etc.)
3) Mortgage
https://www.bogleheads.org/wiki/Priorit ... nvestments
- Wed Mar 14, 2018 3:27 pm
- Forum: Investing - Theory, News & General
- Topic: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
- Replies: 238
- Views: 54497
Re: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
After suggesting this book to our local library, they replied within a day with the following:
"This title is scheduled to be released in late June; it has been placed on a pre-publication list to order at that time."
"This title is scheduled to be released in late June; it has been placed on a pre-publication list to order at that time."
- Mon Mar 12, 2018 12:31 pm
- Forum: Personal Investments
- Topic: Reinvesting dividends in taxable along w/ new contributions
- Replies: 9
- Views: 1145
Re: Reinvesting dividends in taxable along w/ new contributions
Our quarterly dividends from taxable account are deposited to our bank account.
Our monthly contributions to taxable accounts are withdrawn from our bank account.
Our monthly contributions to taxable accounts are withdrawn from our bank account.
- Sat Mar 10, 2018 7:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Filed 2017 taxes electonically for FREE
- Replies: 46
- Views: 7737
Re: Filed 2017 taxes electonically for FREE
How are Karma’s import feature with Vanguard, Emoloyer W-2, etc.?hulburt1 wrote: ↑Sat Mar 10, 2018 5:01 pm I used Karma free to file. Printed it out and sent state in then Fed. State cashed the check. Fed I'm weighting. I had a very simple tax form. Did make 120000 but no right offs. Even did a Roth conversion. All forms looked good. If you don't heir from me My cell No. in Or. 2314 visiting days Sunday.
- Fri Mar 09, 2018 10:14 am
- Forum: Personal Finance (Not Investing)
- Topic: Filed 2017 taxes electonically for FREE
- Replies: 46
- Views: 7737
Re: Filed 2017 taxes electonically for FREE
Can FreeTaxUSA import information from Vanguard or Employer W-2, etc.?core4portfolio wrote: ↑Fri Mar 09, 2018 8:28 am FREETAXUSA10 is coupon code which will give 10% off.
Also ebates cashback site will give 25% cashback for Freetaxusa if anyone else plan to use this
Iam also going to use the freetaxusa.
- Thu Mar 08, 2018 5:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: Filed 2017 taxes electonically for FREE
- Replies: 46
- Views: 7737
Re: Filed 2017 taxes electonically for FREE
How are its import features?dratkinson wrote: ↑Thu Mar 08, 2018 4:54 pm+1 for OLT. This is my 4th year using it. With my being familiar with it and it moving my data over from last year, it took ~2hrs to do my draft fed and state returns. Will finish in a few days after reviewing returns with fresh eyes.
Received an OLT receipt by email saying I owe $0 this year, again.
If I'd been required to pay, the cost would have been $7.95 each for fed and state. Which is cheaper than the more popular tax s/w packages.
- Mon Mar 05, 2018 10:50 am
- Forum: Personal Investments
- Topic: can you set vanguard to automatically invest to your assest allocation?
- Replies: 6
- Views: 842
Re: can you set vanguard to automatically invest to your assest allocation?
hi all, I investment my taxable account in 50/50 Total Stock market and Intermediate Term Tax Exempt. last year, all of my bi-monthly investments were easy - I put them in the bond fund to catch up to the stock fund. This year there has been more ups and downs - can you configure your vanguard account to invest based on the current asset allocation. Basically, if I invest 1000 every to weeks, can you set vanguard to detect if that 1000 should be bonds or stocks? or do I have to simply go in there each investment period? I am not aware that we can set Vanguard to detect and change contributions accordingly. But, in your scenario, I would ignore the monthly fluctuations, keep contributing at my desired asset allocation proportion throughout ...
- Fri Mar 02, 2018 11:59 am
- Forum: Personal Finance (Not Investing)
- Topic: HSA Withdraw Strategy
- Replies: 9
- Views: 1191
Re: HSA Withdraw Strategy
I prefer to use the HSA for current medical expenses.
- Thu Feb 22, 2018 3:33 pm
- Forum: Personal Investments
- Topic: Joint Taxable Account
- Replies: 17
- Views: 2070
Re: Joint Taxable Account
Does Vanguard allow people to name beneficiaries for join taxable accounts (JTWROS)? During my brief search on their website, I couldn’t find an option to name beneficiaries for our joint taxable account at Vanguard.
- Sun Feb 18, 2018 12:25 pm
- Forum: Personal Investments
- Topic: HSA's - invest or use for current expenses?
- Replies: 10
- Views: 1152
Re: HSA's - invest or use for current expenses?
We prefer to use the HSA for current medical expenses.
- Fri Feb 16, 2018 4:41 pm
- Forum: Personal Investments
- Topic: Moving from Speculation to Investment
- Replies: 2
- Views: 444
Re: Moving from Speculation to Investment
Padawan,
Are those individual stocks in taxable account or tax-advantaged accounts like 401(k), IRA, etc.?
Are those individual stocks in taxable account or tax-advantaged accounts like 401(k), IRA, etc.?
- Fri Feb 16, 2018 12:17 pm
- Forum: Non-US Investing
- Topic: Sell individual ETFs and buy Vanguard diversified ETF?
- Replies: 2
- Views: 685
- Thu Feb 15, 2018 4:19 pm
- Forum: Personal Investments
- Topic: Windfall & Investment Planning
- Replies: 3
- Views: 797
Re: Windfall & Investment Planning
Sorry for your unfortunate circumstances.
It is possible to avoid the costs for financial advisors as Bogleheads can answer any others questions you may have.
Three-Fund Portfolio is sufficient, so alternatives like gold and crypto-currencies are not necessary.
For asset location suggestions, see https://www.bogleheads.org/wiki/Tax-eff ... _placement
It is possible to avoid the costs for financial advisors as Bogleheads can answer any others questions you may have.
Three-Fund Portfolio is sufficient, so alternatives like gold and crypto-currencies are not necessary.
For asset location suggestions, see https://www.bogleheads.org/wiki/Tax-eff ... _placement
- Thu Feb 15, 2018 3:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: First time Home Buyer in HCOL area - funds check
- Replies: 28
- Views: 4711
Re: First time Home Buyer in HCOL area - funds check
Great job maximizing 401k, IRAs,
debt-free, and building a decent down payment.
A good rule of thumb to use would be 20% down payment.
Other expenses to keep in mind would be homeowner’s insurance.
debt-free, and building a decent down payment.
A good rule of thumb to use would be 20% down payment.
Other expenses to keep in mind would be homeowner’s insurance.
- Thu Feb 15, 2018 3:07 pm
- Forum: Personal Investments
- Topic: Question re: mulitple user account setup when moving taxable/tax-deferred to VG, etc.
- Replies: 2
- Views: 504
Re: Question re: mulitple user account setup when moving taxable/tax-deferred to VG, etc.
Correct. And, In that scenario, the joint owners will be able to view and transact with the joint taxable account using their own logins. So, each individual will see their own IRAs and the joint taxable account.
- Wed Feb 14, 2018 1:11 pm
- Forum: Personal Finance (Not Investing)
- Topic: How to choose best cost basis for funds
- Replies: 5
- Views: 879
Re: How to choose best cost basis for funds
For Cost Basis method in Taxable accounts, we use Specific Identification (SpecID).
https://investor.vanguard.com/taxes/cos ... tification
https://investor.vanguard.com/taxes/cos ... tification
- Mon Jan 22, 2018 11:00 pm
- Forum: Personal Consumer Issues
- Topic: Rent (free at library) or buy books?
- Replies: 50
- Views: 5375
- Thu Jan 18, 2018 9:47 am
- Forum: Personal Consumer Issues
- Topic: Short Commute or Nicer House?
- Replies: 142
- Views: 13930
Re: Short Commute or Nicer House?
Short Commute (Option 1)
- Fri Jan 05, 2018 7:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: TurboTax Prices
- Replies: 302
- Views: 48959
Re: TurboTax Prices
I would like to ask if my relative should get Fed only version or Fed + State version for following situation: My relative is single and lives in Texas and worked at an office in Texas for a six months contract job (engineering) for QLogic, a subsidiary of Cavium. Both the subsidiary and the parent company have headquarters in California. I would imagine it is all just considered Texas income and it doesn't matter that the subsidiary and parent company are in California. When I worked for companies in the past that HQ'd in CA, I still had all my wages paid based on living and working in FL. Does their W2 or 1099 (or itemized pay in lieu of those) indicating any state tax withheld? If so, what state? Thanks for reply. I can comment on W2 or...
- Thu Jan 04, 2018 8:26 pm
- Forum: Personal Consumer Issues
- Topic: PSA: H&R Block Deal of the Day on Amazon (1/4)
- Replies: 15
- Views: 2459
Re: PSA: H&R Block Deal of the Day on Amazon (1/4)
How about California?masteraleph wrote: ↑Thu Jan 04, 2018 7:47 pmExcept for NY, which is free.runner3081 wrote: ↑Thu Jan 04, 2018 9:18 am FYI - though the state return is included, there is a charge to e-file through H&R block on the state return.
(NY bans paid preparers from charging extra for e-filing).
- Wed Jan 03, 2018 5:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Taxes [Do it yourself or use tax software?]
- Replies: 39
- Views: 4262
Re: Taxes
I use TurboTax. I'm annoyed with it for several reasons: 1) Price for version with advanced features 2) State filing fees 3) I sometimes have to manipulate the forms to avoid attempting to take education credits (which I'm not eligible for) so part of my 529/Coverdell distributions don't become unqualified. I tried TaxAct a few years ago but had an issue (which may have been "pilot error"). So I stick with TurboTax despite the issues. I make sure to buy a full download version so I can do taxes for my family members. Regarding point 2, I just print a hard copy of my state return and stick it in the mail. No reason to pay the e-filing fee. Delamer, Do you that through TurboTax Federal Only CD/Download? Would that method be appropr...
- Tue Jan 02, 2018 8:01 pm
- Forum: Investing - Theory, News & General
- Topic: When married, whose contribution should you prioritize?
- Replies: 30
- Views: 3675
- Sat Dec 30, 2017 10:48 am
- Forum: Personal Consumer Issues
- Topic: Cricket "unlimited 2" plan: 4 lines for $100
- Replies: 6
- Views: 1417
Re: Cricket "unlimited 2" plan: 4 lines for $100
How about the fifth line?
- Thu Dec 28, 2017 10:52 am
- Forum: Personal Finance (Not Investing)
- Topic: TurboTax Prices
- Replies: 302
- Views: 48959
Re: TurboTax Prices
I would like to ask if my relative should get Fed only version or Fed + State version for following situation:
My relative is single and lives in Texas and worked at an office in Texas for a six months contract job (engineering) for QLogic, a subsidiary of Cavium. Both the subsidiary and the parent company have headquarters in California.
My relative is single and lives in Texas and worked at an office in Texas for a six months contract job (engineering) for QLogic, a subsidiary of Cavium. Both the subsidiary and the parent company have headquarters in California.
- Sat Dec 23, 2017 8:42 pm
- Forum: Personal Consumer Issues
- Topic: How much have you donated to John C Bogle Center for Financial Literacy?
- Replies: 17
- Views: 2493
Re: How much have you donated to John C Bogle Center for Financial Literacy?
We have gladly donated to them through Amazon Smile and Facebook’s fundraiser feature.
- Tue Dec 12, 2017 3:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: How to report property tax
- Replies: 6
- Views: 666
Re: How to report property tax
Similar to OP (HeadTail), we also moved from escrow to self-pay this year. So, thanks for everyone's replies.
If I may, I would like to post our property tax bunching strategy, so that y'all may review.
We are considering submitting the 2017's full property tax on January 1, 2018 and then pay the 2018's full property tax payments towards the end of 2018. Assuming current tax laws staying same for 2018, we shall do itemize deduction of the property tax amount of 2017 and 2018, when we file the income tax return for 2018 tax year.
Thanks in advance for your time to review.
If I may, I would like to post our property tax bunching strategy, so that y'all may review.
We are considering submitting the 2017's full property tax on January 1, 2018 and then pay the 2018's full property tax payments towards the end of 2018. Assuming current tax laws staying same for 2018, we shall do itemize deduction of the property tax amount of 2017 and 2018, when we file the income tax return for 2018 tax year.
Thanks in advance for your time to review.