Search found 10 matches

by ThriftyInvestor
Wed Jun 05, 2019 2:18 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit Limitation Explained
Replies: 12
Views: 1078

Re: Foreign Tax Credit Limitation Explained

Care to share the spreadsheet you created? One of the "problems" with form 1116 is that it is a multi-purpose form. For many taxpayers, much of the form doesn't apply. For forms like this, the first thing I do is skim the instructions quickly, crossing out sections that clearly don't apply to me. U...
by ThriftyInvestor
Mon Jun 03, 2019 2:35 am
Forum: Personal Finance (Not Investing)
Topic: Please help, foreign tax credit
Replies: 25
Views: 1560

Re: Please help, foreign tax credit

Foreign Tax Credit Limitation Explained - Analysis: Once Foreign Income Exceeds $20,000, Credit is Markedly Limited. I too had a dramatic reduction in my foreign tax credit in 2018 after many years with no limitation. After much browsing on the IRS website, I found some references that help explain ...
by ThriftyInvestor
Mon Jun 03, 2019 2:29 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit Limitation Explained
Replies: 12
Views: 1078

Foreign Tax Credit Limitation Explained

Foreign Tax Credit Limitation Explained - Analysis: Once Foreign Income Exceeds $20,000, Credit is Markedly Limited. Regarding post: https://www.bogleheads.org/forum/viewtopic.php?t=278789 I too had a dramatic reduction in my foreign tax credit in 2018 after many years with no limitation. My only fo...
by ThriftyInvestor
Fri Apr 12, 2019 3:17 am
Forum: Personal Finance (Not Investing)
Topic: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?
Replies: 62
Views: 4639

Re: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?

FreeTaxUSA workaround for inherited IRA minimum required distribution (MRD) with backdoor Roth (2018 tax year returns): If you have an inherited traditional IRA with NO BASIS and an owned traditional IRA nondeductible contribution converted to a Roth IRA, FreeTaxUSA will not correctly generate form ...
by ThriftyInvestor
Thu May 24, 2018 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: PSA: Schwab International ETFs: 1099-DIV revisions coming [Updated]
Replies: 19
Views: 2926

Re: PSA: Schwab International ETFs: 1099-DIV revisions coming [Updated]

2. Schwab 1/23/2018 letter for FNDF ....A. "$0.7053 Amount of Net Investment Income Distribution (per share)" ....B. "3.7841% Percentage of Net Investment Income Distribution Reclassified as Return of Capital or Other Capital Source" ....C. "$0.0267 Amount of Net Investment Income Distribution Recl...
by ThriftyInvestor
Sun May 20, 2018 2:43 am
Forum: Personal Finance (Not Investing)
Topic: Treatment of interest earned in 401k master account before allocation to participant
Replies: 0
Views: 540

Treatment of interest earned in 401k master account before allocation to participant

I have a two questions on how interest earned in my 401k Trust non-taxable master account affects my taxes and accounting. First, specifically, is the tax basis based upon transactions from my business account to the 401k master account, or from the 401k master account to the participant accounts? H...
by ThriftyInvestor
Sun May 20, 2018 1:28 am
Forum: Personal Finance (Not Investing)
Topic: PSA: Schwab International ETFs: 1099-DIV revisions coming [Updated]
Replies: 19
Views: 2926

Re: PSA: Schwab International ETFs: 1099-DIV revisions coming

Analyzing the data: 12/22/2017 sum of SCHF distributions divided by 12/22/2017 total shares owned before reinvestment =$0.8008/share matching that reported on notice 19(a). $0.0835/share notice 19(a) "amount of net investment income distribution reclassified as return of capital or other capital so...
by ThriftyInvestor
Wed Apr 04, 2018 7:12 pm
Forum: Personal Investments
Topic: Return of Capital for Schwab ETF's
Replies: 17
Views: 2349

Re: Return of Capital for Schwab ETF's

Return of Capital or Other Capital Source Distribution = Foreign Tax Paid

There is another more recent post here:

viewtopic.php?t=241427
by ThriftyInvestor
Wed Apr 04, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: PSA: Schwab International ETFs: 1099-DIV revisions coming [Updated]
Replies: 19
Views: 2926

Re: PSA: Schwab International ETFs: 1099-DIV revisions coming

Return of Capital or Other Capital Source Distribution = Foreign Tax Paid I have a Schwab taxable account in which I own SCHF. 1/23/2018 received 19(a) notice for first time ever despite owning this fund for years. 1099-Div hardcopy and online copy as of today 4/4/2018 are both dated 1/26/2018, no r...
by ThriftyInvestor
Sun Mar 26, 2017 3:48 am
Forum: Personal Investments
Topic: Optum Bank HSA using Admiral shares on Vanguard funds
Replies: 32
Views: 11722

Re: Optum Bank HSA using Admiral shares on Vanguard funds

I use HSA Bank to invest through TDAmeritrade, even though my employer uses HealthEquity and covers all fees. I found that if I leave 0 cash balance at HSABank, I am only charged $3 monthly investment fee, no $2.50 monthly maintainance fee. If you leave a zero cash balance at HSABank, how does HSAB...