Search found 35 matches

by 2quik6
Mon Apr 19, 2021 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

All that have replied thank you! But with an unusual turn of events...I received a "SURVEY" this morning asking to rate my experience from my last call with them Friday where I was passed around, refused to let me talk to a supervisor, and passed me right back to the voice mail of the person not returning calls! Well, the ratings were all 1's the poorest and explained what happened and what was about to happen with my accounts there.... Well the person that I talked to Friday called me this afternoon, and he had been reassigned to my case, this time he was super helpful, we got most all of the paper work completed, and I already had an EIN tax number assigned from earlier today from the IRS....scanned and sent in court papers, all...
by 2quik6
Sun Apr 18, 2021 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

This sounds really frustrating. However, I think it's worth pointing out that this isn't the proper way to handle this. You were never supposed to know or use the password or answers to the security questions in the first place. Vanguard has an Agent Authorization process to legitimately let someone else use your account online (and if this is what you meant I apologize). I suspect what was supposed to happen was have the assets moved to a new account number, titled as Estate of X, with the proper paperwork in place so that the executor has access to the account and can sell or distribute the assets according to the will. I had set up all of the accounts for my mother as I had Financial power of attorney, and did all of her investing...jus...
by 2quik6
Sun Apr 18, 2021 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

I think I would send everything on the page I sent you “generically.” Sounds like an overwhelmed or lazy rep has been assigned to you. Once you know they have the information, I would call again. If still no response or transfer to a manager, you can file a complaint with FINRA. Right now, the rep can probably say- “I have no reason to talk to this person as they have not sent in the documents that show they have the authority to transfer the account or the tax ID number of the estate.” I will look again, but when going through the steps on line for inheritance, it pretty much says if there were no named beneficiaries, you have to call them, does not have any further steps. But I will see if I can track down a transfer of ownership form on...
by 2quik6
Sun Apr 18, 2021 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

lazynovice wrote: Sun Apr 18, 2021 3:13 pm Have you followed all of these steps?

https://support.vanguard.com/triage/coo/EC9092EF
Yes, there is an advisor assigned from our contact back months ago before the will was probated, and he is the one not returning any calls for weeks now. Now that it is probated, we need to do the next steps to turn in the court documents that show the my brother and I are executors and naming us as 50/50 beneficiaries, but I am not just going to mail that in generically, he needs to call me for the next steps of the process.
by 2quik6
Sun Apr 18, 2021 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

Well, that's disturbing. I've had accounts at Fidelity for many years and have always had good service. While I rarely go to one of their offices, it's nice to know that there is both a local office and a Boston office I can go to. I also have a Financial Advisor assigned to me, but if she's not available, the folks that answer the phones are usually very helpful. Yes it is, I have had my Vanguard accounts for at least 26 years, never had an issue and have been considering consolidating some of my accounts to Vanguard. I have had great service from Charles Schwab, TD Ameritrade, and somewhat ok service from Merrill, all of which have local offices. Vanguard does not, so I will have to reconsider :( I am very disappointed, but I have been r...
by 2quik6
Sun Apr 18, 2021 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

Muniment of Title is basically a light probate for folks that have only investment assets and real property, and it does name the executors of the will which are joint between my brother and I. There is no local branch to go into to discuss with someone or I would, I did not name the firm because it is Vanguard. I have called and asked to speak with a supervisor about this and have been refused. I have answered all of the security questions, I know everything about my mom's accounts, I did the investments in them. In hindsight, I should have just sold all of the assets, and moved the cash out, then just called them to close the account. I have investments at other institutions and I never liked how there was always a finance person always c...
by 2quik6
Sun Apr 18, 2021 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2551

Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

My mother passed last year, my brother and I were left 50/50. There is one last brokerage account to settle, we initially contacted them as was told since there was not a beneficiary assigned, we would need to probate the will (this was the only investment act without a beneficiary so we had not probated it when we connected them). We had the will probated as a Monument of Title, I have now reached back out to the advisor for several weeks now, and am not getting a return call. I have called the firm, set on hold for more than 30 minutes to get transferred and sit on hold again for 30 minutes. I asked to have another advisor start this process since we really have not done any thing yet but notify them of my mothers death...was told that th...
by 2quik6
Tue Mar 12, 2013 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax forms for selling a second home??
Replies: 4
Views: 1023

Re: Tax forms for selling a second home??

Hey Thanks for the reply, sorry I'm delayed getting back. Yes, the Form 8949 is the same form that stock sales are reported on behind Schedule D. Yes, I have found that a second home that was not rented or used as a main home is considered just as you indicated, a capital asset for investment.
So that is how I have it reported...

Now I know all of the money I put into it fixing it up on the idea that my daughter was going to move into at one point but didn't, is added to my cost basis.
What I know wonder, is the property tax paid also added to the cost basis as it was not counted towards any itemized deductions in the years I owned it....it is more or less, expenses toward that investment capital right??
by 2quik6
Fri Mar 01, 2013 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Tax forms for selling a second home??
Replies: 4
Views: 1023

Tax forms for selling a second home??

Not sure why I can't seem to find a direct answer to this searching the web, but I had a 2nd home we bought mainly for potential investment purposes (The area was moving towards becoming commercial). We owned the house for 5 years, it was never rented out and was never lived in. My daughter at one time was planning to move there so we spent several thousands remodeling and fixing things.... She ended up not ever moving in and moved out of state and now it doesn't look to become commercial so we cut loose of it and sold it last year. The cost plus the remodeling expenses are more than what it sold for so I don't have any gains, but can't figure out how to report it. Looks like Form 4797 would be used but it wasn't used for business and is in...
by 2quik6
Mon Feb 25, 2013 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 12376

Re: Stock sale reported on 1099-MISC instead of 1099-B?

This all finally got sorted out after the company CPA was consulted and informed the ex-partner that he had completed the forms incorrectly. A corrected 1099-Misc was issued for $0, and the right 1099-B forms were completed!
So yes, a company, not a Brokerage can issue a 1099-B apparently.
by 2quik6
Mon Feb 25, 2013 9:34 pm
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 3148

Re: H&R Block Tax software running on a Mac?

I never found an answer and the help line would never answer, so I ordered and downloaded it for Mac, and it imported the previous years info entered on a Windows XP based program just fine!
by 2quik6
Wed Jan 30, 2013 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 12376

Re: Stock sale reported on 1099-MISC instead of 1099-B?

I know in the past, my tax software has always required you to enter a separate line item of every 1099 form you have or income item, depending on what the line is for, it will sometimes just place a *note something on the front page, then the tax software prints a report page of all the entries that made up that total and indicates to attach it to the back of the return. I used to have some property rental income of multiple things, like boat/jet skies etc, and I itemized the rent of each piece, then had expenses against them and it would do this. I see that the net amount on the front in this case will be $0 though and that might be a concern..not sure till I do it, but plan to still talk to a CPA in the coming days. And quit frankly, I'm...
by 2quik6
Wed Jan 30, 2013 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 12376

Re: Stock sale reported on 1099-MISC instead of 1099-B?

Leesbro63 wrote:I get it that you want to show the gross amount to agree with what was reported to the IRS. But how do you report it then back it out if there is only one line?
There may physically be only one line on the 1st page of the 1040, but a person could have worked multiple contracting jobs and actually have multiple 1099-MISC box 7 values to input, in that case, the one line on the 1st page will refer back to a list on the back, or further back page in your return with the itemized amounts and descriptions.
by 2quik6
Wed Jan 30, 2013 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 12376

Re: Stock sale reported on 1099-MISC instead of 1099-B?

Calm Man wrote:I have no expertise in this area. But can a business issue a 1099-B? I thought that was only for brokers. Also, this is one of those cases that came up in another thread where it would be very well worth your while to use a CPA who has experience in business sales.
That may be a very good point. I've been trying to contact a CPA/Tax Attorney I have used before, but so far our schedules have not agreed to reach him on the phone or I have been in meetings at work. My other partner that left said his tax gal told him to see if the owner would change it to a 1099-MISC box 3 for "Other" Income.
by 2quik6
Tue Jan 29, 2013 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Stock sale reported on 1099-MISC instead of 1099-B?
Replies: 14
Views: 12376

Stock sale reported on 1099-MISC instead of 1099-B?

I sold my shares of a business I owned along with 3 other people, actually 2 of us sold our shares back to the remaining 1 person. Shares were purchased with $$ from the company account that equaled 1/3 of the net worth. Now I received a 1099-MISC with the stock purchase amount reported as "Nonemployee Compensation", which is totally incorrect. We have many pages of signed and notarized documents clearly stating this was for stock buy back, and we have the copies of the cancelled / bought back stock shares which were signed back over. My question is, if the remaining owner refuses to submit the needed paperwork to have this mistake corrected, what are my options? Obviously by the owner reporting it as nonemployee compensation, tha...
by 2quik6
Tue Jan 29, 2013 3:57 pm
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 3148

Re: H&R Block Tax software running on a Mac?

It's just a .T11 file for last year. Its not a csv or xcel type file, its not readable when opened with an editor.
I still have a spare Windows machine but would rather get the mac version if I know it will import last years info from that .t11 file.
by 2quik6
Tue Jan 29, 2013 12:50 pm
Forum: Personal Consumer Issues
Topic: H&R Block Tax software running on a Mac?
Replies: 5
Views: 3148

H&R Block Tax software running on a Mac?

I have used this software for years on a Windows machine, but this year switched to a Mac. The software is avail for Mac, but wondering if it will be able to use my data file that was created last year on Windows to import at the beginning of the process? Anyone know or has done this already? I don't find anything related to this on the H&R Block site.
by 2quik6
Wed Dec 17, 2008 6:13 pm
Forum: Personal Investments
Topic: Shopping for a Financial Advisor, should I consider this?
Replies: 42
Views: 7364

I would not go with Wells Fargo. I had about 1/2 of my investments with them and the other half in Vanguard. The Wells stuff was actively managed by an advisor since I had over their threshold for advisor services. The WellsTrade accounts mentioned in this thread are a completely different animal from the Wells Fargo brokerage account you had. WellsTrade accounts must be set up online and you don't have any advisor assigned to your account. You can call a number for administrative help (and they're good at providing that) but there is no investment advice provided to WellsTrade customers, everything is self directed with low fees and 100 free trades per year if you meet $25k minimum in combined account balance. Yes indeed, but he was askin...
by 2quik6
Tue Dec 16, 2008 8:06 pm
Forum: Personal Investments
Topic: Shopping for a Financial Advisor, should I consider this?
Replies: 42
Views: 7364

I would not go with Wells Fargo. I had about 1/2 of my investments with them and the other half in Vanguard. The Wells stuff was actively managed by an advisor since I had over their threshold for advisor services. I can say that the Vangaurd portfolio managed only by me and my little knowledge at the time I started consistantly outperformed the WF accounts for the past 12 years. I have slowly been pulling $$ out of WF but when the bust hit in Sept/Oct, my WF accounts lost an average of 65% !!! I have 5 holding left there, all are 3 are 50% down, and the other 2 are 80% down... I will never trust an advisor again as everything I was put in was high comission for them and high risk for me. Oh..and I didn't go to Wells Fargo intentionally... ...
by 2quik6
Mon Dec 01, 2008 2:54 pm
Forum: Personal Investments
Topic: Do You Think We Are Okay?
Replies: 55
Views: 15606

jazzcat, I know alot of folks have and will bash you for pulling out at what they think was a bottom last week. I pulled out alot of mine after the rebound started last week knowing there is nothing but bad news ahead which will drive it lower. It's easy to say, "you should have left it in", but as in my case, I worked very hard for what I had in, much more than a few thousand $$ and all after tax, nothing inherited, and I could not stand to watch my hard earned money continue to disappear. I could see "riding it out" and watching it further disappear if we were talking less than $50k. I had been contributing to my savings for the last 15 years, I pulled out when my savings was going below the total I had put in...so I'v...
by 2quik6
Sun Nov 30, 2008 12:54 pm
Forum: Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1547

Re: Individual stock dividend and Yield??

What you're looking at is actually not a stock. It's an exchange-traded debt instrument (issued by AT&T) with par value $25 that pays interest quarterly. The symbol for AT&T stock is "T". http://stockerblog.blogspot.com/2007/09/what-stock-has-att-stock-symbol.html If you're going to invest in any securities other than plain vanilla common stocks it is advisable become familiar with the SEC website and learn how to find the prospectus: http://www.sec.gov/Archives/edgar/data/732717/000095013407002304/d43261b2e424b2.htm I've noticed companies having several ticker symbols before and was never sure why. Didn't notice that with AT&T, but I actually got the ATT one from AT&T's CEO a few weeks ago when he was on Mad Mone...
by 2quik6
Sat Nov 29, 2008 9:33 pm
Forum: Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1547

JDCPAEsq wrote:Maybe you should reconsider buying individual stocks until your knowledge expands a bit, if you decide to buy them at all.
John
To date I have not been investing in them for their dividend, but it could be a side benefot if I ever did invest in a stock such as this. :roll:
by 2quik6
Sat Nov 29, 2008 8:26 pm
Forum: Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1547

Dave, thanks! Yes, I was basically trying to figure out if the yield was simply the current dividend expressed as a yearly percentage.

I've noticed some stock only list a current yield and no dividend info was what had me confused on AT&T. I suppose some may just distribute the dividend yearly instead of quarterly.
Thanks again.
by 2quik6
Sat Nov 29, 2008 4:49 pm
Forum: Personal Investments
Topic: Individual stock dividend and Yield??
Replies: 8
Views: 1547

Individual stock dividend and Yield??

Just recently getting into some individual stocks and am wanting to know what the difference of the stocks dividend and its yield are.
For instance, AT&T, info given in this link
http://research.scottrade.com/public/st ... =8&go.y=12

Has a dividend of $0.3984 which appears to be distributed quartly, so thats a 39cent div per share given out each quater...thats almost 7% in itself....then the stock has a 6.85% yield...what does that really mean?? Is that another 6.85% year end distribution on top of the qrtly dividend??

That would make the return around 13-14% for the year for this stock.
by 2quik6
Sat Nov 29, 2008 4:45 pm
Forum: Personal Investments
Topic: GNMA Fund
Replies: 6
Views: 2310

I had invested a large amount into GNMA back in Feb of this year, yes its held thru these hard times, but the total $$ amount in the account has remained the same, in fact its about -$500 at the moment due to the NAV share price fluctuation of the fund. It was down at the beginning on the year, but quickly climbed high in Feb..of course thats when I had $$ to invest so I did thinking it would keep raising as the markets decline...well it didn't, the price went down...the balance was down around $2500 at one point, but then the NAV price climbed back up....it does provide you a nice dividend each month, which I have to reinvest...and still the balance is not greater than my original amount I started with.... The reason I'm saying this, is do...
by 2quik6
Tue Nov 25, 2008 10:54 pm
Forum: Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 1046

joe8d wrote:
If money is moved in now won't the share price/principle start to deflate as everyone moves back into the market in the future and thus lose more money since the interest rate would not keep up with the drop in share price?
Yes. I've been doing buying in the VG Short Term Investment Grade bond Fund which is near it's all time low NAV and has a 6%+ yield.
Thats still fairly volatile and could continue to go down. Similar to the Hi-Yield corp bond fund is at its low for the year..around $3.90 compared to $6 at the beginning of the year...so now its drawing a 14% rate so it too would bea good time to jump in but can be even more volatile since it deals with junk bonds.
by 2quik6
Tue Nov 25, 2008 10:42 pm
Forum: Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 1046

That's what I figured, never invested in T-bill funds before.....and then again, the share price was at its year low less than a month ago so that would have been a perfect time to jump in...so it went from its year low to high in less than 4 weeks..and was at its low even after the huge drops in the market in Sept/Oct..go figure.
by 2quik6
Tue Nov 25, 2008 10:21 pm
Forum: Personal Investments
Topic: Timing for moving $$ into a Treasury fund?
Replies: 5
Views: 1046

Timing for moving $$ into a Treasury fund?

Due to the current rise in most T-bill mutual fund share prices, wouldn't now be a bad time to move money into this type of fund? Since alot of folks have done this already, I see the current VG mutal T-bill fund share prices are at years highs....if money is moved in now won't the share price/principle start to deflate as everyone moves back into the market in the future and thus lose more money since the interest rate would not keep up with the drop in share price? Just curious as I noticed this researching diffent funds and see alot of people still moving to these funds currently. Mainly the VUSTX Long-Term Treasury fund...started the year at $11.66, hit its lowest price on 10/31 at $11.11 but is now at its high for the year per share at...
by 2quik6
Mon Nov 24, 2008 10:47 pm
Forum: Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1993

Re: citi

qmoney wrote:Rob you will be ok :lol: I'm sure your will make back a little cash before you sell. You are a strong fellow for sticking in there.
I don't know about that..maybe dumb for getting back in at $8 after going from $45 to $17 although with a lot less investment this time around
by 2quik6
Mon Nov 24, 2008 10:27 pm
Forum: Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 2007

Another ? pertaining to my question above about the interest rate and how long it may remain... is the share price of this fund dropping reflective of a sell off just like stocks?
I'd think the high interest rate and low share price would spur on some buying.
by 2quik6
Mon Nov 24, 2008 9:59 pm
Forum: Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1993

Re: citi

Seriously though, just realize that you are not investing, but rather gambling when you think you can call bottoms and get out at peaks. The pros can't do it, and neither can you. Consider this friendly advice. Exactly, just look at FNM's history to see how their stock prices reacted when the govt injected money... I imagine that C's price will fall back once the dust settles and all the spectulators pull out since growth will be very limited until the govt is paid back. The time to have bought would have been last Friday...but you didn't know the govt was going to inject $$ over the w/e...notice today C's price shot right up on the opening...then as the day progressed it eased back and never really went up any more than the opening price ...
by 2quik6
Mon Nov 24, 2008 9:50 pm
Forum: Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 2007

I see your point on the differences, I suppose its all left up to interpretation with the IRS. The hy fund was attractive back last year as the share price appeared to have been fairly stable and provided a fairly fixed 7% interest. Even though the share price has dropped over 33%, I still receive the same interest amount each month since the interest rate climbs as the share price falls...I think its near 14% which would be great if the share price wasn't falling faster than 14% a month.... Now I'm wondering how long the interest amount will stay the same or when it might change?? I really didn't understand how all this works with this fund when I invested and still don't today but its too late to bail...although I could invest it back int...
by 2quik6
Mon Nov 24, 2008 9:31 pm
Forum: Personal Investments
Topic: help Pllzzz
Replies: 11
Views: 1993

hmm...Citi hits hard with me because I was in a reverse convertible with Citi stock ealier in the year...earned 16% interest for 6 months...but then Citi stock fell from $45 to around $17...fell out of its cushion price so I ended up eating a huge loss as at the end of the term I had shares of Citi that were essentially purchased at $45 but now worth $17..or at the time it was....I held it thinking it would climb back up eventually...but then it fell to $10...then rose to $14 so I sold it at $13.99 just about 3 weeks ago..boy glad I did then even though it was still about a 66% loss... but then when it hit $8 I bought 125 shares thinking it would easily climb back to $10 and I'd make some spending money...boy that was a bad idea....it just ...
by 2quik6
Mon Nov 24, 2008 9:22 pm
Forum: Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 2007

Thanks for the info Rick. Can you provide any insight as to what moves the corp bond prices if not related to stock prices? I assume it has to do with even higher risk concerns in a struggling economy since the corporations were high risk to begin with that makes their chances of defaulting even higher. Joe, I thought that in order to claim a loss you could not invest in even a similar fund..since they are both hy funds, would that qualify them as the same under IRS rules? I have moved alot of stuff out temporarily to claim the TLH, hoping to get it back in at a lower price would be nice towards the end of the year and hopefully more toward a real bottom...and hopefully have some gains next year to offset :)..otherwise I'll have carry over ...
by 2quik6
Mon Nov 24, 2008 8:32 pm
Forum: Personal Investments
Topic: VG High Yeild Corp Fund VWEHX falling price??
Replies: 8
Views: 2007

VG High Yeild Corp Fund VWEHX falling price??

I've been investing with VG for over 10 years and just recently found this forum!! (I've learned a ton of things about my cars from forums so I can't wait to learn more about finanances now!) My question is, I'm a bit preplexed as to why the VG High Yield Corp Fund VWEHX share price continues to fall even as stocks climb? Today it still fell a penny to $3.93 even though the markets were positive all day. Been falling about 50 cents or so a month the past few months...started at around $6 earlier in the year. I know this fund mainly invests in higher risk corporate bonds, but when should I expect it to start picking up steam again? I've had this fund for several yeasr and have alot of principle into it, but its value right now is about 40% l...