Search found 97 matches

by Young Fellow
Sat Mar 31, 2018 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question on recoveries, line 21 1040
Replies: 3
Views: 298

Re: Tax question on recoveries, line 21 1040

You mean, the header of my post?
Thanks
by Young Fellow
Thu Mar 29, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question on recoveries, line 21 1040
Replies: 3
Views: 298

Tax question on recoveries, line 21 1040

Hi Forum members may answer this and help me. I would appreciate very much :o I may need to report income received which is a return of misc credit I applied in previous two years. This year also I am itemzing and have misc credit to be applied. My question is rather than reporting income in line 21...
by Young Fellow
Thu Mar 15, 2018 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Joint savings account with non US citizen in foreign country, is the interest reportable to IRS?
Replies: 8
Views: 794

Re: Joint savings account with non US citizen in foreign country, is the interest reportable to IRS?

Are you also filing taxes in the foreign country? If so, most countries have a tax treaty with the US and what one country taxes the other gives a credit for. Generally speaking, the taxing happens wherever the income is sourced. That is, if income is generated in the US, the US taxes the income an...
by Young Fellow
Thu Mar 15, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Joint savings account with non US citizen in foreign country, is the interest reportable to IRS?
Replies: 8
Views: 794

Joint savings account with non US citizen in foreign country, is the interest reportable to IRS?

Hi, I added as a joint account holder to a non US citizen savings account in a foreign country so as to help to operate that account. I am not a primary account holder and none of my US income goes there and neither that money is withdrawn for my use. Do I still need to include the interest generate...
by Young Fellow
Thu Mar 08, 2018 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: How do I reverse the deduction I claimed earlier years in the current tax return?
Replies: 10
Views: 530

Re: How do I reverse the deduction I claimed earlier years in the current tax return?

pshonore wrote:
Thu Mar 08, 2018 2:35 pm
I think you claimed a Form 1040 Sched A Misc deduction.
Correct
by Young Fellow
Thu Mar 08, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: How do I reverse the deduction I claimed earlier years in the current tax return?
Replies: 10
Views: 530

Re: How do I reverse the deduction I claimed earlier years in the current tax return?

<r><QUOTE author="rkhusky" post_id="3820526" time="1520537228" user_id="29254"><s> </s> You received the money this year and you incurred the costs in past years. I doubt you can move the income backwards in time. A loophole like that would open a can of worms that people would try to exploit. <e> <...
by Young Fellow
Thu Mar 08, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: How do I reverse the deduction I claimed earlier years in the current tax return?
Replies: 10
Views: 530

Re: How do I reverse the deduction I claimed earlier years in the current tax return?

montanagirl wrote:
Thu Mar 08, 2018 2:22 pm
The 1099 has already been "disclosed" to the IRS.
Sorry I did not understand, first I just received the check from attorney and no 1099 misc was mailed to me. You mean the attorney would disclose the fees he returned to me as 1099 misc payment he made in his tax return?
by Young Fellow
Thu Mar 08, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: How do I reverse the deduction I claimed earlier years in the current tax return?
Replies: 10
Views: 530

How do I reverse the deduction I claimed earlier years in the current tax return?

Hi, I am in this situation where you guys can help me to file this year taxes. I claimed 1099 misc deduction in previous years which is legal attorney fees and this year those attorney fees are returned to me. Is there anyway to reverse the deduction I claimed earlier years without disclosing 1099 m...
by Young Fellow
Fri Feb 16, 2018 2:00 am
Forum: Investing - Help with Personal Investments
Topic: Which should I use short term corporate or longterm bond index money for roth IRA contribution
Replies: 7
Views: 589

Re: Which should I use short term corporate or longterm bond index money for roth IRA contribution

Hi folks, here is my dilemma. This may be our last Roth IRA contribution for retirement accounts. I have put my emergency money in short term corporate bond index which it lost around $300, while I also have total bond market index which it lost $800 in my brokerage accounts. Which of these I shoul...
by Young Fellow
Fri Feb 16, 2018 1:40 am
Forum: Investing - Help with Personal Investments
Topic: Which should I use short term corporate or longterm bond index money for roth IRA contribution
Replies: 7
Views: 589

Re: Which should I use short term corporate or longterm bond index money for roth IRA contribution

Why is it your last? Are you dying? I wouldn't put any FI in Roth. Google backdoor Roth. Dying, not that I know off, unemployed it will be last if I am unsuccessful in job search. You are correct t, I don't intend to put FI in Roth. What I am asking is I am cashing out some of the bonds in my broke...
by Young Fellow
Fri Feb 16, 2018 12:06 am
Forum: Investing - Help with Personal Investments
Topic: Which should I use short term corporate or longterm bond index money for roth IRA contribution
Replies: 7
Views: 589

Which should I use short term corporate or longterm bond index money for roth IRA contribution

Hi folks, here is my dilemma. This may be our last Roth IRA contribution for retirement accounts. I have put my emergency money in short term corporate bond index which it lost around $300, while I also have total bond market index which it lost $800 in my brokerage accounts. Which of these I should...
by Young Fellow
Thu Feb 15, 2018 11:52 pm
Forum: Investing - Help with Personal Investments
Topic: Cashed out 401K for rollover IRA, what would you do now in this decline and volatility?
Replies: 5
Views: 602

Re: Cashed out 401K for rollover IRA, what would you do now in this decline and volatility?

Thank you all who responded. The advice I got was invest immediately, that what I did. I readjusted my allocation to 65/35 as a compromise although 60/40 might have been preferable in my case but brought international allocation to 30% of stocks as a hedge.
Young Fellow
by Young Fellow
Sat Feb 10, 2018 10:15 pm
Forum: Investing - Theory, News & General
Topic: Just how safe is a short-term corporate bond fund?
Replies: 53
Views: 6249

Re: Just how safe is a short-term corporate bond fund?

I started using this fund to put gains received from stocks and bonds invested in my brokerage account. I am using this to buildup emergency fund in the past 1 year or so. Cost basis for this fund is negative and lost money at the end of 2017. I think you would be better of with CD in Discover bank ...
by Young Fellow
Fri Feb 09, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Cashed out 401K for rollover IRA, what would you do now in this decline and volatility?
Replies: 5
Views: 602

Cashed out 401K for rollover IRA, what would you do now in this decline and volatility?

Hi, I cashed out 401K of about 160K for opening rollover IRA in Vanguard. What you would do now with that cash since stock market is declining and volatility going? Would you go back to your previous portfolio or put that into bonds and wait it out? Before withdrawing 401K, my portfolio had 70/30 st...
by Young Fellow
Sat Sep 16, 2017 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes
Replies: 12
Views: 1344

Re: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes

This might provide some guidance. You'll need to bone up on the "Tax Benefit Rule: https://taxmap.ntis.gov/taxmap/pubs/p525-004.htm#TXMP2f92325b This. The concept is that you include the amount of the returned fees on TY 2017, form 1040, line 21 to the extent that they reduced your 2016 taxable inc...
by Young Fellow
Sat Sep 16, 2017 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes
Replies: 12
Views: 1344

Re: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes

spectec wrote:
Sat Sep 16, 2017 4:21 pm
This might provide some guidance. You'll need to bone up on the "Tax Benefit Rule:

https://taxmap.ntis.gov/taxmap/pubs/p52 ... MP2f92325b
Thanks for the info Spectec,
by Young Fellow
Sat Sep 16, 2017 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes
Replies: 12
Views: 1344

Re: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes

You've hit on a situation that is not all that clear in the law and has been litigated at length. The equitable result is to claim an amount of income in the current year that will result in a tax equal to the amount of tax you saved through the deduction. There are other ways you could treat this,...
by Young Fellow
Sat Sep 16, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes
Replies: 12
Views: 1344

Re: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes

Gill wrote:
Sat Sep 16, 2017 4:01 pm
Did you receive a tax benefit from the deduction?
Gill
Yes
by Young Fellow
Sat Sep 16, 2017 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Re: Can you switch to Obama care in the middle of cobra period

Hello, thanks for everyone who chimed here. Initially I was denied by covered ca, but I spoke with a live person at covered ca and they approved my enroolment outside of open enrollment. Also there is a process to appeal their decission. Also automatically your application will be sent to your count...
by Young Fellow
Sat Sep 16, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Prior years attorney fees I paid is being retuned by my attorney, now what with taxes
Replies: 12
Views: 1344

Prior years attorney fees I paid is being retuned by my attorney, now what with taxes

Hi, In my prior year taxes, I claimed attorney fees I paid as miscellaneous deductions in schdule A. Now my attorney is returning the money as he is being paid by other party. Now what happens with my taxes this year? Should I disclose the money attorney returning me as income this year or should I ...
by Young Fellow
Wed Aug 09, 2017 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Re: Can you switch to Obama care in the middle of cobra period

I'm a little confused. The qualifying event test only applies for enrolling in an ACA plan outside of the open enrollment period. During an open enrollment period, you can sign up for an ACA plan regardless of whether a qualifying event has occurred. Exhausting one's COBRA eligibility (at the end o...
by Young Fellow
Wed Aug 09, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Re: Can you swith to Obama care in the middle of cobra period

You can find answers to all your questions in this link. https://www.healthcare.gov/unemployed/cobra-coverage/ : Hello Again, while the above site confirm that it is a qualifying event when employer stops cobra payments to apply obamacare outside open enrollment, the covered ca website says, non pa...
by Young Fellow
Sat Aug 05, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Re: Can you swith to Obama care in the middle of cobra period

HueyLD wrote:You can find answers to all your questions in this link. https://www.healthcare.gov/unemployed/cobra-coverage/
: thanks, the link is great, instantly takes to the right answer.
by Young Fellow
Sat Aug 05, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Re: Can you swith to Obama care in the middle of cobra period

Yes, I did it. It's probably more straightforward to enroll in an ACA plan during the open enrollment period anyway. Obviously that won't necessarily coincide with the end of the 18 months of COBRA. I would advise waiting until you've heard that the ACA enrollment has been processed and received an...
by Young Fellow
Sat Aug 05, 2017 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Can you switch to Obama care in the middle of cobra period
Replies: 11
Views: 1587

Can you switch to Obama care in the middle of cobra period

Greetings, can one switch to Obama care in the middle of cobra period? Or one has to wait for the entire 18 months of cobra period to end or one can switch in the open enrollment period for the obama care to start following year. Anybody can answer this, thanks
by Young Fellow
Thu Jun 22, 2017 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Help me to decipher stock option plan investment analysis, aka stock opter report
Replies: 3
Views: 411

Re: Help me to decipher stock option plan investment analysis, aka stock opter report

Thank you thesaintsfor responding. Yes, I will have to exercise the options and buy company stock with in a specified period of leaving the company, I believe it is 30 days. Afte exercising options, I will have portfolio of approximately 900K with 16% company stock, if I choose to keep the stock for...
by Young Fellow
Wed Jun 21, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Help me to decipher stock option plan investment analysis, aka stock opter report
Replies: 3
Views: 411

Help me to decipher stock option plan investment analysis, aka stock opter report

Greetings to bogleheads. I just had my employee stock option plan analysis done by the vendor who is servicing it for the employer. They have used StockOptor software. Do you factor in the report to decide what to do, hold the options? Or sell them and hold company stock until it becomes tax favorab...
by Young Fellow
Thu Apr 20, 2017 11:36 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 336
Views: 47781

Re: Larry Swedroe says "Goodby."

Thank you Mr. LARRY SWEDROE for your service to this forum,
Regards
by Young Fellow
Thu Apr 20, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

What is runoff period, does it mean option would continue to vest until exercisable date in the future? It all depends on what is written in the agreement you signed. Don't expect to get the company to alter the terms of your stock option agreement. As others have pointed out, the approval hurdles ...
by Young Fellow
Thu Apr 20, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

Assuming you are leaving for a new employer, you could have used the SO as a negotiation point. DW was leaving low 6 figures of RSU's to take a new position. Told them what she was leaving behind and the new employer agreed to grant her shares in the new company in a like value to make her whole. U...
by Young Fellow
Thu Apr 20, 2017 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

We had similar language in the option plan at my former employer, but can't remember a single instance where a modification was done. I would have known as I was on the executive committee and was the chief accountant for a dozen years. It would be hard to make a case to change an option agreement....
by Young Fellow
Wed Apr 19, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

Understand what is vesting, but unfortunately they are exercisable only in 2020, if I leave now, would I loose those, it is bulk of my stock options and loosing that would be a big disappointment. It sounds like you probably lose them. Not being able to exercise something that you have vested is pr...
by Young Fellow
Wed Apr 19, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

What does it mean for an option to be vested but not exercisable? I thought vesting of stock options meant that they were exercisable? I've had RSUs that had dual vesting triggers: one based on time ("after 12 months") and one based on an event. Both had to happen before they were "really" vested. ...
by Young Fellow
Wed Apr 19, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

What does it mean for an option to be vested but not exercisable? I thought vesting of stock options meant that they were exercisable? OP, how long have you been with the company? Are you sure you're not mixing up the exercisability with the expiry of the options? Thank you for your response. I hav...
by Young Fellow
Wed Apr 19, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

You will have to ask your company about the committee and how often they meet and under what circumstances do they look at individual situations. I suspect this language is for legal flexibility and is rarely used and if it were, it would be more like a change of corporate control like an acquisiti...
by Young Fellow
Tue Apr 18, 2017 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Re: Stock option exercisability question

You will have to ask your company about the committee and how often they meet and under what circumstances do they look at individual situations. I suspect this language is for legal flexibility and is rarely used and if it were, it would be more like a change of corporate control like an acquisiti...
by Young Fellow
Tue Apr 18, 2017 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1698

Stock option exercisability question

Hi, I have a question and any help is appreciated. I am about to be leaving the company. I am given stock options of which majority of them are vested but excercisability dates are in future. Yet I also have small amount of unvested options and some Restricted units via ESPP. Do I loose all these be...
by Young Fellow
Mon Apr 17, 2017 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Hi, Would there be any difference in getting benefits from employer while separating after on a extended unpaid leave compared to regular one. Is the employer still obligated to give unused vacation, holiday pay and bonus calculated prorata upto the leave start period, and usual severance pay such ...
by Young Fellow
Wed Apr 12, 2017 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Hi, Would there be any difference in getting benefits from employer while separating after on a extended unpaid leave compared to regular one. Is the employer still obligated to give unused vacation, holiday pay and bonus calculated prorata upto the leave start period, and usual severance pay such ...
by Young Fellow
Wed Apr 12, 2017 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Thank you Pajamas for posting the link, it nicely details the allowable benefits under the law. What I did not know before is that employee part of the insurance premiums is to be paid, since I am on unpaid leave right now, that would mean employer would garnish those from my benefits at the time o...
by Young Fellow
Wed Apr 12, 2017 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Hi, Would there be any difference in getting benefits from employer while separating after on a extended unpaid leave compared to regular one. Is the employer still obligated to give unused vacation, holiday pay and bonus calculated prorata upto the leave start period, and usual severance pay such ...
by Young Fellow
Wed Apr 12, 2017 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

"Co-employee" probably refers to the other employees in similar positions at the company. You should check with your employer's benefits department for their policies on benefits for employees on leave. Benefits for employees on FMLA must be handled by the employer the same way they are for other f...
by Young Fellow
Wed Apr 12, 2017 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Many of the benefits you are asking about are based on company policy, though there might be state laws for items like accrued leave. In any case, the details are probably in your employee manual or other company policy statements. At my company, there are no differences for employees terminating w...
by Young Fellow
Tue Apr 11, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Re: Asking employer benefits while leaving after an extended FMLA leave

Hi, Would there be any difference in getting benefits from employer while separating after on a extended unpaid leave compared to regular one. Is the employer still obligated to give unused vacation, holiday pay and bonus calculated prorata upto the leave start period, and usual severance pay such ...
by Young Fellow
Sat Apr 08, 2017 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Asking employer benefits while leaving after an extended FMLA leave
Replies: 17
Views: 2112

Asking employer benefits while leaving after an extended FMLA leave

Hi, Would there be any difference in getting benefits from employer while separating after on a extended unpaid leave compared to regular one. Is the employer still obligated to give unused vacation, holiday pay and bonus calculated prorata upto the leave start period, and usual severance pay such a...
by Young Fellow
Tue Mar 07, 2017 1:21 am
Forum: Personal Finance (Not Investing)
Topic: How long does car lasts and for how long should I build a CD ladder
Replies: 25
Views: 2188

Re: How long does car lasts and for how long should I build a CD ladder

After recent ESPP sell 'bonus' (my company has done very well over past year) I managed to increase my emergency fund to cover not only 6 months of living but also a new car and and something to put into taxable. The "problem" is that I don't want to buy a car - my car is relatively new Honda and I...
by Young Fellow
Tue Mar 07, 2017 12:58 am
Forum: Investing - Help with Personal Investments
Topic: Changing allocation to 60/40 - Help with Selection
Replies: 4
Views: 977

Re: Changing allocation to 60/40 - Help with Selection

Hi my current allocation is 88/12% but I want to increase the Bond portion of my 401K portfolio. I was hoping to get some help in choosing the bond funds from below. I'm not planning to rebalance but just going to change my future contributions to go to Bonds until I get a 60/40 mix. TIA Fund Name,...
by Young Fellow
Sun Mar 05, 2017 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can COBRA be frozen on the account of travel to outside of Country
Replies: 5
Views: 723

Can COBRA be frozen on the account of travel to outside of Country

Greetings for Ides of March,

I am wondering if the COBRA health insurance can be frozen and restarted at a later date on the account of traveling of either primary person or spouse in the family benifit just so that, that time period dont get wasted. Please if anybody can comment on this, thanks