Search found 66 matches

by codedude
Fri Nov 29, 2019 9:08 pm
Forum: Personal Investments
Topic: Virginia 529 Question
Replies: 14
Views: 927

Re: Virginia 529 Question

You can get a deduction of $4000 for each account when the combination of account owner-beneficiary-portfolio is different. So the same parent names beneficiary 1 and opens one account invested in US stocks and contributes $4000 to it and gets the deduction (after tax return is submitted). Then in t...
by codedude
Tue Sep 17, 2019 6:19 pm
Forum: Personal Consumer Issues
Topic: International Medical emergency story [travel to Canada, no insurance]
Replies: 58
Views: 4194

Re: International Medical emergency story

Would the docs/hospitals not accept credit cards? Or did the spouse not have them that she had to travel back to the US to get them?
by codedude
Sat Sep 14, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring money to overseas banks for personal use
Replies: 5
Views: 1003

Re: Transferring money to overseas banks for personal use

Nowisee, You can figure out the costs of a particular strategy. But what is more important is - taxes and reporting. Taxes: Assuming you are a US taxpayer, any year you have at least one bank account in an overseas bank in which the balance at any time during the year is over $10,000, you need to re...
by codedude
Sat Sep 14, 2019 6:22 pm
Forum: Personal Investments
Topic: International Fund Questions – Roth vs. Pre-Tax, FTIHX vs. VTIAX?
Replies: 13
Views: 638

Re: International Fund Questions – Roth vs. Pre-Tax, FTIHX vs. VTIAX?

For the taxable account at Fidelity, you can use IXUS instead of FTIHX.
by codedude
Thu Sep 05, 2019 6:36 pm
Forum: Personal Investments
Topic: Overseas inherited property sold at a loss
Replies: 2
Views: 374

Re: Overseas inherited property sold at a loss

misterno, Assuming you are a US resident, and the person you inherited from was not, when you inherited the property 2 years ago, you should have filed a form 3520. If you did not do it, there may be penalties. Did you declare the rent received over the 2 years as income on your tax returns? Any yea...
by codedude
Sat Aug 31, 2019 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes of Global Stocks in IRA
Replies: 10
Views: 392

Re: Taxes of Global Stocks in IRA

saratmunjal,

When foreign stock or funds are in an IRA or 401k or HSA, the taxes paid cannot be used to get a foreign tax credit on your tax return. They are lost.
by codedude
Sat Aug 31, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: is health coverage overlap bad?
Replies: 4
Views: 552

Re: is health coverage overlap bad?

woolie, Overlapping coverage is not a great thing, it is more of a hassle. One of them is the primary and the other secondary. All claims need to be submitted to the primary, and the balances need to be submitted to the secondary, probably by you. If you are paying for the premiums, I would just kee...
by codedude
Fri Aug 30, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Co-sponsoring an immigrant's sick family member [Updated]
Replies: 47
Views: 4678

Re: Co-sponsoring an immigrant's sick family member

Ray,

This would be exposing yourself to unlimited financial liability.

If a treatment is not available in your friend’s country, he should explore if it is available in a neighboring country.
by codedude
Mon Aug 19, 2019 7:32 pm
Forum: Personal Investments
Topic: Fidelity REITs
Replies: 13
Views: 1396

Re: Fidelity REITs

Fidelity real estate index fund (ticker FSRNX, exp ratio 0.07%) is a great choice at Fidelity.
by codedude
Sun Aug 04, 2019 8:55 am
Forum: Personal Investments
Topic: Taxable Brokerage Account Vs. 401K [India ex-pat working in US]
Replies: 4
Views: 513

Re: Taxable Brokerage Account Vs. 401K [India ex-pat working in US]

sbogle,

A lot of things can happen in 15-20 years. It is difficult to optimize for a scenario so far out that may or may not materialize.

Just use the Bogle heads wiki and optimize for these 15-20 years and revisit when you are 2-3 years out.
by codedude
Fri Aug 02, 2019 11:09 pm
Forum: Personal Investments
Topic: Taxable Brokerage Account Vs. 401K [India ex-pat working in US]
Replies: 4
Views: 513

Re: Taxable Brokerage Account Vs. 401K [India ex-pat working in US]

sbogle, Your premise that Roth IRAs will be taxable in India once you return to India is not correct. When someone moves to India, they are a RNOR - resident not ordinarily resident foe 2-3 years depending on number of days resident. During this time, only income from within India is taxed. Any asse...
by codedude
Tue Jul 30, 2019 8:29 am
Forum: Non-US Investing
Topic: Will India need cost basis for IRA and Roth at distribution
Replies: 6
Views: 667

Re: Will India need cost basis for IRA and Roth at distribution

usnaturally, Getting accountant’s help is the right thing. However, if only distributions are taxed and not cap gains/dividends, then it is easy for anyone to legally game the system by becoming a non resident for a year so that one has no Indian tax liability, take all distributions or convert to R...
by codedude
Mon Jul 29, 2019 9:12 pm
Forum: Non-US Investing
Topic: Will India need cost basis for IRA and Roth at distribution
Replies: 6
Views: 667

Re: Will India need cost basis for IRA and Roth at distribution

usnaturally, When one moves to India, he is a Resident not ordinarily resident (RNOR). In this status, all assets outside India are not taxed in any way. Only income generated within India is taxed. After a couple of years 2-3 years typically based on number of days present in India), the person bec...
by codedude
Sun Jul 21, 2019 6:59 pm
Forum: Personal Investments
Topic: Windfall inheritance (international to USA)
Replies: 1
Views: 338

Re: Windfall inheritance (international to USA)

g3vald1g,

There should be no US tax for the US recipients. The recipients may need to file Form 3520 informing the IRS of the receipt of a foreign inheritance if the amount is above a certain threshold (I think this is $100000) though you need to check the Form 3520 instructions).

Thanks.
by codedude
Fri Jul 12, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do foreign nationals need to file US income taxes?
Replies: 10
Views: 939

Re: Do foreign nationals need to file US income taxes?

Tenesmus83,

Yes, if their income exceeds a certain amount. They may also have to file FBAR foreign bank account report if their bank balances are above certain thresholds.
by codedude
Fri Jun 28, 2019 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Safe Harbor
Replies: 3
Views: 501

Re: IRS Safe Harbor

Sergio,

Your plan is good unless your last years AGI was I ver 150000. Then you need to pay atleast 110% of last years tax in 2019 and not 100% for safe harbor. You can also pay 90% of 2019 tax.

https://www.irs.gov/taxtopics/tc306

Thanks.
by codedude
Mon Jun 24, 2019 9:17 pm
Forum: Non-US Investing
Topic: [Moving back to India from US - What US income is not taxed?]
Replies: 15
Views: 2081

Re: [Moving back to India from US - What US income is not taxed?]

odyssey, What you are saying about dividend exemption from tax is right but only if they are generated from Indian stocks. I don’t know if “Indian stock” means securities listed on Indian stock exchanges or even an ADR listed on a US exchange like Infosys would count. The foreign stock dividends wil...
by codedude
Sun Jun 23, 2019 4:45 pm
Forum: Non-US Investing
Topic: [Moving back to India from US - What US income is not taxed?]
Replies: 15
Views: 2081

Re: [Moving back to India from US - What US income is not taxed?]

odyssey, If one tries to say that IRAs are pensions, I don’t think that is valid. If you look at the DTAA ( double taxation avoidance agreement) between India and USA, pensions are defined as regular payments for services performed, which IRAs are not. You can look at item 8 of an advance ruling abo...
by codedude
Thu Jun 20, 2019 8:36 pm
Forum: Non-US Investing
Topic: [Moving back to India from US - What US income is not taxed?]
Replies: 15
Views: 2081

Re: [Moving back to India from US - What US income is not taxed?]

odyssey, You are planning to relocate to India. Are you a US citizen or green card holder? If so, the answers below will be different. Assuming you are not a US citizen or green card holder: Let us say you leave the US on August 1, 2019. Whether you owe US taxes or not for 2019, you need to “log out...
by codedude
Mon Jun 17, 2019 9:20 pm
Forum: Investing - Theory, News & General
Topic: Pointless to own Emerging Markets fund if already own International?
Replies: 9
Views: 979

Re: Pointless to own Emerging Markets fund if already own International?

No it is not pointless to hold EM if you are tilting to EM. If 401ks had a developed international markets fund, I would hold separate DM and EM funds, but the 401ks we have access to have only international funds. So I have Internationsl funds and EM funds.
by codedude
Mon Jun 10, 2019 6:13 pm
Forum: Personal Investments
Topic: How are “high earners” (HCEs) eligible for Mega-backdoor Roth?
Replies: 12
Views: 1358

Re: How are “high earners” (HCEs) eligible for Mega-backdoor Roth?

When one is a HCE, there is a possibility of your contributions being returned in the next calendar year. This would be because of an ADP test failure or an ACP test failure. This testing usually happens in early March but could happen later till October 1. You can ask your plan administrator when t...
by codedude
Wed May 29, 2019 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should we invest in 529 plan or taxable?
Replies: 3
Views: 598

Re: Should we invest in 529 plan or taxable?

kurious, For your situation, a 529 will be good - for state tax deduction if any - in the event you don’t go back to India after 5 years and continue staying in the US till kids go to college, you will save on taxes. If you go back to India, after a couple of years you will become an ROR (ordinary r...
by codedude
Fri May 24, 2019 5:39 pm
Forum: Personal Consumer Issues
Topic: Prius Prime plug in
Replies: 22
Views: 2251

Re: Prius Prime plug in

Artful,

Love my 2013 Prius plug in basic version (It is not a Prime). No issues so far. Plan to keep it until the wheels fall off or repairs become expensive.
by codedude
Fri Apr 19, 2019 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: DW worried about What if ...? Wishes to pay off mortgage
Replies: 33
Views: 3304

Re: DW worried about What if ...? Wishes to pay off mortgage

frugal, Employer provided insurance is fine for now, but it being group insurance will slowly start costing you more in premiums as you age. Plus if lose a job etc you won’t have coverage. If you are in good health, you should try to get level term life insurance while you are younger. You can add a...
by codedude
Sun Apr 14, 2019 12:07 pm
Forum: Non-US Investing
Topic: researching citizenship ?'s for Canadian spouse in US
Replies: 6
Views: 800

Re: researching citizenship ?'s for Canadian spouse in US

Over $2million net worth is just one of the conditions that will make someone a covered expat. There are others like average 5 year tax liability over $165000, and a requirement to have completed all tax liabilities for the past 5 years. Any of these can make someone a covered expat and subject to t...
by codedude
Sat Apr 13, 2019 11:13 am
Forum: Non-US Investing
Topic: researching citizenship ?'s for Canadian spouse in US
Replies: 6
Views: 800

Re: researching citizenship ?'s for Canadian spouse in US

mnr3, You: As a US citizen, you need to pay tax on your worldwide income regardless of where you actually live. If you take up another country’s citizenship, will you give up your US citizenship or not? If you continue having US citizenship, you will need to pay US tax as a resident on worldwide inc...
by codedude
Wed Apr 10, 2019 5:59 pm
Forum: Personal Investments
Topic: Virginia 529 plan options
Replies: 3
Views: 322

Re: Virginia 529 plan options

Prepaid comes with strings like if beneficiary goes to a private school or out of state, they just get back the original amount paid with a paltry rate of return. Use invest 529 and not prepaid. Full disclosure: I do own prepaid for part of my 529, bought when I did not know enough and now it is bes...
by codedude
Sun Apr 07, 2019 10:14 pm
Forum: Personal Investments
Topic: Got a large tax bill, is it worth paying TurboTax etc. for tax break research?
Replies: 8
Views: 1253

Re: Got a large tax bill, is it worth paying TurboTax etc. for tax break research?

kurious, Your tax seems reasonable. The only thing I can think of that will reduce your tax bill now for 2018 is if you had a high deductible plan and did not contribute the max allowed. For 2019 you can try maxing out 401ks, Roth IRAs if not doing currently. You mentioned buying property overseas. ...
by codedude
Sat Apr 06, 2019 10:08 pm
Forum: Personal Consumer Issues
Topic: Extended warrenty for refrigerator
Replies: 18
Views: 1056

Re: Extended warrenty for refrigerator

Is there a 10 year manufacturer warranty on the compressor for this particular model? A Samsung fridge I bought has it.

That should protect you for the biggest fridge failure.
by codedude
Thu Mar 28, 2019 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax return not filed
Replies: 5
Views: 820

Re: Gift tax return not filed

I did not for 5 years. By then I came to know that a gift tax return needed to be filed, so I filed it, and haven’t heard for 2-3 years so far.
by codedude
Sun Mar 10, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Trad IRA I can't get 5498 Tax form to prove basis
Replies: 16
Views: 1056

Re: Trad IRA I can't get 5498 Tax form to prove basis

Can you try getting a copy of your return from the IRS?
by codedude
Wed Feb 27, 2019 7:38 pm
Forum: Investing - Theory, News & General
Topic: Difference between Fidelity GLB EX US IDX & Fidelity TOT INTL IDX
Replies: 2
Views: 207

Re: Difference between Fidelity GLB EX US IDX & Fidelity TOT INTL IDX

The Fidelity total international index fund (FTIHX) uses a slightly different index and includes some small caps. The global ex US fund is good too. If you have a choice, use the total international index fund otherwise the global fund is good. There is also a fidelity zero fund (FZILX) with zero ex...
by codedude
Tue Feb 19, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting for new immigrant dad health care
Replies: 22
Views: 1557

Re: Budgeting for new immigrant dad health care

Will he have perm residency when he enters the country? In which case, he can get an ACA plan within a couple of weeks. Or will he apply for perm residency in the US, in which case you are looking at a minimum of 6 months to years of not having an ACA plan. Also does he have income/rent/pension in h...
by codedude
Mon Feb 18, 2019 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Post-tax 401(K) contributions
Replies: 3
Views: 408

Re: Post-tax 401(K) contributions

idlebrain,

No, you cannot contribute towards the 2018 limit now.
by codedude
Sun Feb 03, 2019 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 27421

Re: Cost of college and 529

I was making a stronger statement than "some savings is better than no savings". My claim was that if retirement accounts are not being maxed out, it's better to "save for college" in the retirement account. Yeah, but this statement is TOO strong. In part because it is not necessarily true that ret...
by codedude
Mon Jan 14, 2019 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone ever filed an unpaid wage claim against employer?
Replies: 7
Views: 1012

Re: Anyone ever filed an unpaid wage claim against employer?

I did in 2002. Sent letter to the state workforce commission. Employer ignored the workforce commission’s letters. Workforce commission blocked employer’s bank account, sent me a check for amount due.
by codedude
Mon Dec 31, 2018 9:47 pm
Forum: Personal Investments
Topic: Anyone else in frontier markets?
Replies: 31
Views: 1963

Re: Anyone else in frontier markets?

At one point I had 1% of portfolio in the ishares frontier markets (FM) ETF for some increased diversification as an experiment. After some time, I realized that the 1% position was consuming 10% of portfolio expenses, and there was not much of a diversification benefit. So I closed out the position...
by codedude
Sun May 27, 2018 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 210
Views: 52104

Re: GEICO auto rates vs. USAA: too good to be true?

With Geico for 20 years. I check once in 3-4 years, no one comes close on premiums (in Virginia) for my situation. One glass vandalization 15 years ago, handled efficiently.
by codedude
Mon May 07, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA: Anyone know if you qualify if you resign?
Replies: 13
Views: 1585

Re: COBRA: Anyone know if you qualify if you resign?

Yes, I used once after resigning.
by codedude
Sat May 05, 2018 2:07 pm
Forum: Personal Consumer Issues
Topic: Real estate agents - claim thousands of ready buyers??
Replies: 19
Views: 2154

Re: Real estate agents - claim thousands of ready buyers??

Maybe they have access to a database of 5 or 8000 buyers and can claim they have 8000 buyers.

They said they will buy the house, but are they saying they will buy at the list price or at a lower price, say 25% less).

As the saying goes, the devil is in the details 😀.
by codedude
Sun Apr 08, 2018 1:39 pm
Forum: Personal Investments
Topic: Selling ESPP stocks with a limit order without fee
Replies: 9
Views: 870

Re: Selling ESPP stocks with a limit order without fee

The $4.95 fee applies to selling ESPP stocks at Fidelity, whether as a limit order or as a market order.
by codedude
Tue Apr 03, 2018 8:33 am
Forum: Personal Finance (Not Investing)
Topic: No will. What happens to my accounts if I die?
Replies: 34
Views: 3892

Re: No will. What happens to my accounts if I die?

Also create a durable power of attorney and healthcare proxy and give to them.
by codedude
Sun Apr 01, 2018 12:28 pm
Forum: Investing - Theory, News & General
Topic: 529 - guaranteed return - too good to be true ?
Replies: 3
Views: 503

Re: 529 - guaranteed return - too good to be true ?

curious,

You are not missing anything. Make sure your 529 plan allows immediate withdrawal. I am planning to do this if there is a shortfall in 529 funds. Mine (Virginia 529 Invest) allows such withdrawals.

codedude
by codedude
Sat Mar 10, 2018 5:55 pm
Forum: Personal Investments
Topic: Bonds in Roth vs 401K
Replies: 1
Views: 457

Re: Bonds in Roth vs 401K

davidsonb, Let us say you x amount saved in your 401k. You need to invest this money in something. If all of it went into stocks, you will pay 0.0075x in expenses yearly. If all into bonds you will pay 0.0055x. Keeping as much in bonds up to your bond allocation in the 401k will keep your expenses m...
by codedude
Fri Mar 09, 2018 9:44 pm
Forum: Personal Investments
Topic: Taxable Fidelity Account - FSTVX vs ITOT
Replies: 57
Views: 10861

Re: Taxable Fidelity Account - FSTVX vs ITOT

You are fine. One round trip trade should be fine and the tax if any should be minimal.
by codedude
Fri Mar 09, 2018 8:59 pm
Forum: Personal Investments
Topic: Taxable Fidelity Account - FSTVX vs ITOT
Replies: 57
Views: 10861

Re: Taxable Fidelity Account - FSTVX vs ITOT

ny,

Does FSTVX have short term trading fees? If it does, I would wait until it is over before moving out of it.

codedude
by codedude
Tue Mar 06, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes
Replies: 19
Views: 2211

Re: Estimated Taxes

FiveK,

That is the strategy I use (though not to such an extreme), but definitely back loaded.

codedude
by codedude
Sun Mar 04, 2018 6:53 pm
Forum: Personal Investments
Topic: An HSA Account as an Investment Vehicle
Replies: 21
Views: 2439

Re: An HSA Account as an Investment Vehicle

Puxor,

Yes it is a great idea to use an HSA for investment.

You need to be enrolled in a high deductible health plan to be able to contribute to one. Is your health plan a high deductible plan?
by codedude
Sat Feb 24, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: What to do — forgot to file gift tax for 529 plan contribution
Replies: 7
Views: 1136

Re: What to do — forgot to file gift tax for 529 plan contribution

Sorry did not see your previous post, but as you stated, you should be fine.