Search found 133 matches

by chemocean
Wed Feb 12, 2020 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Semi-complicated EE Savings Bond tax question
Replies: 9
Views: 661

Re: Semi-complicated EE Savings Bond tax question

Sorry about losing your mom. I am not a lawyer but have deal with bonds through three generations like your situation. In my case, the transferrs were all internal Treasury transactions through retitleing of the bonds. I think two issue arise in your situations. When you say your mom and you inherit...
by chemocean
Thu Jan 30, 2020 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7188

Re: Recent passed parent had Vanguard TOD and will. What now?

1) VG rep said online process could use a PDF scan of Death Certificate. This did not sound right. I talked to a Vanguard representative in the "Change of Ownership" section and was told that Vanguard has access to the database that originate from the Social Security Administration, where all funer...
by chemocean
Mon Jan 27, 2020 11:36 am
Forum: Personal Investments
Topic: optimizing Roth vs Regular IRA
Replies: 10
Views: 1033

Re: optimizing Roth vs Regular IRA

My suggestions is that the minimum (combined if married) any BH might want to keep in their tIRA would be the amount that their charitable contributions would be covered by RMDs starting at 72. With the present Uniform Lifetime table III (for spouses less than 10 years younger), that would be 25.6 t...
by chemocean
Sun Jan 26, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Metlife shares and probate
Replies: 4
Views: 238

Metlife shares and probate

When Metlife when public in 2000, the beneficiaries were given shares of the public traded company in their name only. https://www.nytimes.com/2000/04/06/business/metlife-issues-nearly-500-million-shares-to-policyholders.html These shares might be missed by Boogleheads or other DIYers. A decade latt...
by chemocean
Sun Jan 26, 2020 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Process for surviving spouse.
Replies: 66
Views: 12498

Re: Process for surviving spouse.

Sorry for your loss and your father is lucky to have you helping him. Couple of points: 1) if there Treasury bonds involved, the surviving spouse needs to have any bonds in the decedent's name transferred to the account of the surviving spouse, then change the registration of all the surviving spous...
by chemocean
Sun Jan 26, 2020 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Brokerage account step up
Replies: 1
Views: 255

Re: Brokerage account step up

My understanding is that 100% of the assets get stepped up in a community property state if the joint tenants are married when transferred the assets are transfer in-kind to the individual account of the surviving spouse. Note that with Vanguard, you cannot name beneficiaries with a Joint Account. I...
by chemocean
Sat Jan 25, 2020 5:13 pm
Forum: Personal Consumer Issues
Topic: Advice on LP record collection (info and selling)
Replies: 10
Views: 665

Re: Advice on LP record collection (info and selling)

I recently worked on three bankers box of vinyl records. Go to https://www.discogs.com/ I found that the album number was easiest way to search the databaase You need to look at the runout label on the disk to find the exact version of the your record. You will find that most of your albums have abo...
by chemocean
Thu Jan 23, 2020 6:41 pm
Forum: Personal Investments
Topic: In-kind transfer between taxable Vanguard accounts
Replies: 12
Views: 925

Re: In-kind transfer between Vanguard accounts

I just made an in-kind transfer from a joint account to a individual account as a non-taxable event. The issue is that the old account and the old account must have an owner in common to be transferred in a non-taxable manner. Call 877 662-7447 and ask for the "Change of Ownership" department for de...
by chemocean
Mon Jan 20, 2020 9:31 am
Forum: Personal Consumer Issues
Topic: Newer water well issues
Replies: 7
Views: 818

Re: Newer water well issues

I am not a well owner. Your water system is a complicated system involving hydrology, chemistry and engineering. I have no experience with production wells and am not a licensed hydrogeologist or engineer. However, I didn't get much sleep last night thinking scientifically about how I would respond ...
by chemocean
Sun Jan 12, 2020 1:03 am
Forum: Personal Finance (Not Investing)
Topic: Should I get a Trust
Replies: 35
Views: 3522

Re: Should I get a Trust

I live in Maryland and probate is not a big issue if you have a will so I have not set up any trusts. Most of our stuff has POD/TOD/beneficiary. (We own our house jointly). It is my understanding that we can't avoid any federal or Maryland state taxes by having a trust but some of my neighbors beli...
by chemocean
Thu Jan 02, 2020 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: [TSP - Inheritance Rule Changes due to the SECURE Act]
Replies: 18
Views: 1533

Re: [TSP - Inheritance Rule Changes due to the SECURE Act]

Per Stan S.'s request, Section IV on page 1 indicates that a mandatory 20% federal tax withholding is required for taxable distribution, with options for additional withholding. back of page 2: There is language about the order of withdrawal for the tax-exempt portion of the traditional TSP that app...
by chemocean
Wed Jan 01, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: [TSP - Inheritance Rule Changes due to the SECURE Act]
Replies: 18
Views: 1533

Re: [TSP - Inheritance Rule Changes due to the SECURE Act]

Thanks for posting, I had missed that non-spousal transfer to an Inherited IRA was an option. I'll track down a TSP-81 and put it with my documents and a note saying to set up the receiving inherited IRA prior to sending death certificate to TSP. Edited: did not find it on TSP website. Sent them a ...
by chemocean
Tue Dec 31, 2019 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: [TSP - Inheritance Rule Changes due to the SECURE Act]
Replies: 18
Views: 1533

Re: [TSP - Inheritance Rule Changes due to the SECURE Act]

I looked into the timing of the distribution to a non-spousal beneficiary of an original owner of a TSP and received documents that are not ordinary available on the website and talked to a TSP representative. As I understand it, when TSP receives the notice of a death of an original TSP owner and t...
by chemocean
Tue Dec 31, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: [TSP - Inheritance Rule Changes due to the SECURE Act]
Replies: 18
Views: 1533

Re: [TSP - Inheritance Rule Changes due to the SECURE Act]

I looked into the timing of the distribution to a non-spousal beneficiary of an original owner of a TSP and received documents that are not ordinary available on the website and talked to a TSP representative. As I understand it, when TSP receives the notice of a death of an original TSP owner and t...
by chemocean
Fri Dec 27, 2019 6:36 pm
Forum: Personal Investments
Topic: How to plan for Roth Conversion taxes in 2020
Replies: 5
Views: 637

Re: How to plan for Roth Conversion taxes in 2020

I think I will be in the same situation as the OP. I planning on processing Roth conversions up to $165,000, to be well under being hit with a IRMMA premium. Since 2020 taxes will be $25.8 for MFJ, and 2019 taxes will be about $8K, I like Woodspinners' idea of paying estimated payments in the first ...
by chemocean
Sat Dec 21, 2019 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to 401(k) and IRAs, SECURE Act - It's signed
Replies: 292
Views: 22840

Re: Changes to 401(k) and IRAs, SECURE Act - It's signed

I only got through half this thread, will distributions from Roth accounts during the ten year period count as income in the MAGI, even though will not be taxed, for calculations of IRMMA?
by chemocean
Sat Dec 21, 2019 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Duties of a Trustee
Replies: 3
Views: 318

Duties of a Trustee

What are the duties of a Trustee of a discretionary accumulation irrevocable Trust? From previous posts, I have concluded that there are three main duties of a Trustee of a discretionary irrevocable accumulation Trust that is funded by an inheritance that includes Taxable accounts, Roth IRAs, Tradit...
by chemocean
Fri Dec 20, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken 2017
Replies: 59
Views: 2915

Re: Quicken 2017

The Quicken program passes all .qfx files through your Quicken Vault whether directly or indirectly. I only download .qfx files from financial institutions and import the WebConnect .qfx file into Quicken 2017 on my computer. About once a quarter, I still have to sign into my Quicken vault to procee...
by chemocean
Thu Dec 19, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: estate distribution confusion
Replies: 79
Views: 4108

Re: estate distribution confusion

The issue of the disposition of the house is a major issue as we plan to revise our wills. I appreciate all the viewpoints presented in this thread. Our situation is different in that all heirs or their spouses are in high-risk professions, so the establishment of trusts is advantageous for the asse...
by chemocean
Tue Nov 26, 2019 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken workarounds to export transactions as CSV
Replies: 2
Views: 309

Re: Quicken workarounds to export transactions as CSV

The format of .txt file exported using "Export to Excel compatible file" in Quicken is a tab delineated file. An easier way to convert the file to .csv is to use the "save As" function in Excel. Open up Excel, then choose "Open File", file drop down choose "all files", and choose the .txt file expor...
by chemocean
Tue Nov 26, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring ibonds through Treasury Direct
Replies: 15
Views: 1397

Re: Transferring ibonds through Treasury Direct

Seasonal,
Thanks for relaying the answer from the TD representative to the forum.
Concerning:
"H primary, W secondary: removing W non-taxable" , perhaps TD does not consider this reissuing the bond because the SSN attached to bond, that of the primary owner, did not change.
.
by chemocean
Sun Nov 24, 2019 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust as Beneficiary of IRA
Replies: 3
Views: 458

Re: Testamentary Trust as Beneficiary of IRA

In general, I don't think you should put the date you signed the will, because your LAST is the only valid will. As long as the name of Trust remains the same over different versions of your wills, you probably will not need to submit new beneficiary forms with each updated will. After being bugged ...
by chemocean
Sat Nov 23, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Transferring ibonds through Treasury Direct
Replies: 15
Views: 1397

Re: Transferring ibonds through Treasury Direct

Maybe you can't removed a spouse from the registration on an I bond. As said above, better call TD. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ireplace.htm: Two living people are named on the bond and both of them want to request a change that is permitted. (If you are n...
by chemocean
Sat Nov 23, 2019 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Transferring ibonds through Treasury Direct
Replies: 15
Views: 1397

Re: Transferring ibonds through Treasury Direct

Form 5511 seems to be for transferring bonds already converted in TD to another TD account. If you just removing a living co-owner, the bond is going to stay in the primary owner's account, and thus form 5511 might not be appropriate. Probably need to call TD. Tax on interest on I-bonds is deferred ...
by chemocean
Fri Nov 22, 2019 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring ibonds through Treasury Direct
Replies: 15
Views: 1397

Re: Transferring ibonds through Treasury Direct

I don't think you are wanting to transfer to another account (section 3 or 4 on form 5511), you are just removing a living co-owner from the current registration. I think removing a living registrant is a taxable event and half of the accrued interest will be owed at the time of the removal. If this...
by chemocean
Thu Nov 14, 2019 12:47 am
Forum: Investing - Theory, News & General
Topic: Preparing for Your Best Retirement course
Replies: 14
Views: 2595

Re: Preparing for Your Best Retirement course

I took a retirement class and 90% was on finances.
My take home-message was in the other 10%” "You don't retire FROM something, you retire TO something"
My corollary is “You better well figure out what the “TO” is before you retire.”

The financial part is case-specific.
by chemocean
Fri Nov 08, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer paper savings bonds to spouse: tax and mechanics?
Replies: 4
Views: 464

Re: Transfer paper savings bonds to spouse: tax and mechanics?

Note the note at the top of this page that Treasury do not reissue paper bonds, the new bonds with the change in the title can only be issued as an electronic bond in the owner's online Treasury Direct account Since you have to set up an online account anyway, why not set up the Online account first...
by chemocean
Fri Nov 08, 2019 3:59 pm
Forum: Personal Investments
Topic: Inherited IRA Strategy
Replies: 13
Views: 1227

Re: Inherited IRA Strategy

Does any one know if Qualified Charitable Distributions be made from an inherited IRA? If so and you were charitably inclined, you could make your charitable contributions from the inherited IRA with no tax consequences. Then, the taxable money you normally would allocate to charitable giving can be...
by chemocean
Wed Nov 06, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: First year QCD close to New Year's Eve
Replies: 11
Views: 768

Re: First year QCD close to New Year's Eve

Thank you all for your input. The two take-home points in the responses are: 1) If the custodian issues the check, then the date of record of the distribution is the date that the check was cut, 2) Unlike the first year RMD, the first year QCD probably cannot be rolled over into the next year. With ...
by chemocean
Tue Nov 05, 2019 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Kaiser in Seattle/Tacoma?
Replies: 8
Views: 1258

Re: Kaiser in Seattle/Tacoma?

My family has used Group Health/Kaiser since 1978 whenever we lived in the WA service area. I have been happy with my three primary care doctors. My present young primary physician is paired with a PA, which makes the team efficient. The PA recently examined my blood work from a annual physical and ...
by chemocean
Tue Nov 05, 2019 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Beneftis to non-spousal beneficiaries CAN be transferred to an inherited IRA
Replies: 2
Views: 294

Re: TSP Beneftis to non-spousal beneficiaries CAN be transferred to an inherited IRA

Targ is correct, the death benefits of a spousal TSP account are required to be liquidated as a taxable event to the beneficiaries according to Booklet 33 for Spousal Accounts. The language in Booklet 33 for Spousal accounts is different than the language in Booklet 33 for Participant Accounts. I am...
by chemocean
Tue Nov 05, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Beneftis to non-spousal beneficiaries CAN be transferred to an inherited IRA
Replies: 2
Views: 294

TSP Beneftis to non-spousal beneficiaries CAN be transferred to an inherited IRA

DISCLAIMER: I am not a lawyer. I am a TSP participant planning to revise my estate documents. The following is based on documents (TSP-31 and forms and documents referenced within). I also have made several calls to TSP and confirmed the statements of TSP service representatives as written text in T...
by chemocean
Tue Nov 05, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: First year QCD close to New Year's Eve
Replies: 11
Views: 768

First year QCD close to New Year's Eve

Please feel free to comment on my logic. I turn 70.5 in the second half of December (say 2019). My RMD will push our joint return into the next higher tax rate category. I previously concluded that it would be nearly impossible to meet the delivery requirements to take a 2019 Qualified Charitable De...
by chemocean
Mon Nov 04, 2019 12:10 pm
Forum: Personal Investments
Topic: capital gains timing.
Replies: 6
Views: 1015

Re: capital gains timing.

It would seem to me that it would not matter when you sold. If you waited until after the distribution, your capital gains on the selling would decrease. However, that decrease would be exactly balanced by income from capital gains distribution and dividends on the day of the distribution. Since cap...
by chemocean
Sun Nov 03, 2019 10:37 am
Forum: Personal Finance (Not Investing)
Topic: FYI, Spanish bank ATMs [Dynamic Currency Conversion]
Replies: 64
Views: 4959

Sneaky ATMs in Europe

[Merged here -- mod oldcomputerguy] During a recent trip to Portugal, I encountered a choice at an ATM (Multibank) that I thought was deceptive. I was in a rush and needed to get cash for bus ride. After entering my personal data, I was asked if I wanted to accept the guaranteed rate of $1.22/1euro...
by chemocean
Thu Sep 26, 2019 11:04 pm
Forum: Personal Investments
Topic: I- and EE-bonds and estates, again
Replies: 3
Views: 542

Re: I- and EE-bonds and estates, again

friar1610 is correct. The "or"/"and" designation is used on (older?) paper bonds. The "with" designation is used for electronic co-owned bonds. My converted EE bonds retained the "or" designation when they were converted to my converted electronic account and were again retained with when I transfer...
by chemocean
Thu Sep 26, 2019 1:36 pm
Forum: Personal Investments
Topic: I- and EE-bonds and estates, again
Replies: 3
Views: 542

I- and EE-bonds and estates, again

I thought I would consolidate some of the info from some recent threads and add my own experiences. Since I was calling TD about another matter, I confirmed the statements below with the TD representative on the phone. I conducted multiple types of transactions with I- and EE-bonds including convert...
by chemocean
Sat Sep 21, 2019 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone converted paper I-Bonds to electronic?
Replies: 36
Views: 3816

Re: Has anyone converted paper I-Bonds to electronic?

Note that converting I-bonds by the primary owner with a manifest only requires a signature. Transferring or redeeming paper bonds I bonds upon the dead of the primary owner requires a guaranteed signature. Transferring I bonds of a deceased primary bond holder by the secondary owner or beneficiary ...
by chemocean
Fri Sep 20, 2019 12:26 am
Forum: Personal Consumer Issues
Topic: **UPDATE** Credit card dispute - what are best practices?
Replies: 34
Views: 2713

Re: Credit card dispute - what are best practices?

I have had good results filing a complaint with the Consumer Protection Department of the State Attorney General as soon as I get the sense that I am being treated unfairly, even with credit card transactions. The filing of the complaint gets the attention of the merchant. And if you don't eventuall...
by chemocean
Tue Sep 17, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: How do you spend money to gain time? (young family)
Replies: 155
Views: 12031

Re: How do you spend money to gain time? (young family)

Here a the details of the economics of the issue: Hamermesh, Daniel S., author. Title: Spending time : the most valuable resource / Daniel S. Hamermesh. Publisher, Date: New York, NY : Oxford University Press, [2019] ©2019 Description: x, 220 pages : illustrations ; 24 cm Summary: "Time is the ultim...
by chemocean
Tue Sep 17, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: How do you spend money to gain time? (young family)
Replies: 155
Views: 12031

Re: How do you spend money to gain time? (young family)

A retired economics professor just published a book called "Spending Time" that addresses the fundamentals of this issue. I heard about the book on a Planet Money podcast. The local library ended up purchasing it for their collection, which provides some indication it is written for the general publ...
by chemocean
Wed Sep 11, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Federal employee disability worth it? (redux)
Replies: 3
Views: 623

Re: Federal employee disability worth it? (redux)

If you have a large number of hours of accumulated sick leave, you could use the length of the accumulated sick leave to extend the waiting period before disability benefits start. Increasing the waiting period usually deduces the cost of disability period.
by chemocean
Mon Sep 09, 2019 3:47 pm
Forum: Personal Investments
Topic: RMD & Charitable Contribution
Replies: 17
Views: 1622

Re: RMD & Charitable Contribution

Although I am a year or so from RMDs, I have been staring to look at this issue. Especially in light of Bruce Steiner's article ( Trusts and Estates , 2018, p. 43) suggesting that the Tax Cuts and Jobs Act of 2017 reduces the taxes of the Roth Conversion while the Law is in effect (through 2025). Ro...
by chemocean
Sun Sep 08, 2019 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: I Bonds - How Your Spouse can Quickly Cash in I Bonds
Replies: 59
Views: 5300

Re: I Bonds - How Your Spouse can Quickly Cash in I Bonds

We have some paper I bonds that won't mature for another 20 years, one is spouses co-owned, the others individually owned with POD. We would like to redeem some of them sometime within the next 10 years or so to help grandchildren with college expenses. If we are able to redeem them at a bank, can ...
by chemocean
Sun Sep 08, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: I Bonds - How Your Spouse can Quickly Cash in I Bonds
Replies: 59
Views: 5300

Re: I Bonds - How Your Spouse can Quickly Cash in I Bonds

My wife and I are registered without second-named registrant on our separate I-Bond accounts. When I change this for each bond , do I choose "Sole Owner" and fill-out the "First Name Registrant" and "Second Named Registrant" information for each of us on my bonds and her bonds? or do I choose "Prim...
by chemocean
Wed Sep 04, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: I Bonds - How Your Spouse can Quickly Cash in I Bonds
Replies: 59
Views: 5300

Re: I Bonds - How Your Spouse can Quickly Cash in I Bonds

First of all, thanks for this post. It reminder me that I needed to add transaction rights to my co-owner who just recently opened their own Treasury Direct Account. I have not read all the post. This is my understanding of the process of redeeming I-bonds from a deceased bondholder. This knowledge ...
by chemocean
Wed Sep 04, 2019 11:52 am
Forum: Personal Investments
Topic: Series I bonds - question about compounding interest
Replies: 18
Views: 1858

Re: Series I bonds - question about compounding interest

Looking at the details of the text on Treasury Direct on I-bonds, the interest is posted monthly. This text is consistent with the present value of my bonds in Treasury Direct for which I purchased in March. The "six-bond compounding" reflects that the interest for the past six months doesn't get ad...
by chemocean
Mon Sep 02, 2019 11:38 am
Forum: Personal Consumer Issues
Topic: I need advice on cleaning a toilet. How to you clean this part of the toilet? What is the best thing to use?
Replies: 52
Views: 7273

Re: I need advice on cleaning a toilet. How to you clean this part of the toilet? What is the best thing to use?

The deposits are mostly likely a calcium mineral (probably calcium oxalate from the decomposition of chemicals in urine). There is what I do: 1) turn off water to tank, 2) flush toilet, 3) Using a small cup or turkey baster, remove water to half of the vertical opening. Remember there is a equal vol...
by chemocean
Tue Aug 13, 2019 1:01 pm
Forum: Personal Consumer Issues
Topic: Recommendations for home paper shredder
Replies: 73
Views: 7457

Re: Recommendations for home paper shredder

Our county just removed shredded paper from those items that can be recycled. Probably, such restrictions will occur other places due to tightening recycled material market. The major shredding companies got together and have a number of shredding events around the county where individuals can drop ...
by chemocean
Mon Aug 12, 2019 8:24 pm
Forum: Personal Consumer Issues
Topic: Should college student major in environmental science?
Replies: 50
Views: 3378

Re: Should college student major in environmental science?

I am one of those who rode the wave of the environmental movement when RCRA and Superfund were highly funded in the 1980s. So, the job prospects of the older folks mentioned in the some of the post were much more favorable than those students graduating now. In my last ten years, I was a supervisor ...