Search found 67 matches

by DinkinFlicka
Fri Jul 17, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Why is Fidelity so Persnickety
Replies: 20
Views: 6748

Re: Why is Fidelity so Persnickety

If you are trying to open a last minute Roth IRA to beat the contribution deadline using EFT, I would recommend using Vanguard over Fidelity. I was helping my wife and parents to set up Roth IRAs before July 15th. Since my wife has her 403b through Fidelity, I figured it was easier to just set up an...
by DinkinFlicka
Mon Jul 13, 2020 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Yotta - savings app inspired by UK Premium Bond program
Replies: 2
Views: 338

Re: Yotta - savings app inspired by UK Premium Bond program

I put in a small amount and it serves as a fun lottery-fix. I signed up midweek (which means none of my tickets were allowed to use the 3 already winning numbers) but my 44 tickets still won $0.60. Based on a $1100 deposit, I think that comes out to ~2.8% APY. I'm pretty sure some of these early win...
by DinkinFlicka
Thu Jul 09, 2020 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Yotta - savings app inspired by UK Premium Bond program
Replies: 2
Views: 338

Yotta - savings app inspired by UK Premium Bond program

I came across this app on another forum I visit (https://news.ycombinator.com/item?id=23780062). Seems like an interesting idea. Here's a link to their FAQ: https://www.withyotta.com/faq From the other forum: We were inspired to build Yotta by the Premium Bond program in the UK and a Freakonomics ep...
by DinkinFlicka
Tue Jun 23, 2020 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Tax question on married living in separate states
Replies: 3
Views: 477

Re: Tax question on married living in separate states

If you have been a resident of New York state, and you continue to maintain a place to live there, and especially if you expect to return there, then probably the state will take the position that you have not stopped being a resident for tax purposes. (I don't know whether the city has different r...
by DinkinFlicka
Mon Jun 22, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Tax question on married living in separate states
Replies: 3
Views: 477

Tax question on married living in separate states

My wife and I currently live in different states because of her finishing up graduate school (IL) and my job location (NYC). Our plan was for her to spend 100% of time in IL and for me to do a 25%/75% split between IL and NYC. However, due to the current COVID-19 situation, it's likely that we will ...
by DinkinFlicka
Sat Jun 20, 2020 7:17 am
Forum: Personal Consumer Issues
Topic: Gifts for local fire/police departments
Replies: 10
Views: 1263

Re: Gifts for local fire/police departments

Like others have said, I would check to see if your police department will accept gifts.

In my hometown, the police department will not accept anything. Any food that gets dropped off for them goes straight to the local food pantry.
by DinkinFlicka
Thu Jun 18, 2020 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

Or you may consider not amending your 2018 return since the amount will generate a negligible additional tax income tax plus a $3 early distribution penalty. Let the IRS bill you if they wish to. Given that the IRS is now many months behind in processing 1040X forms, you are actually doing them a f...
by DinkinFlicka
Thu Jun 18, 2020 8:56 am
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

You are correct. What did you enter for the Box 7 code? I would just enter the “J” not the “P”. That should not lead to your problem, but who knows? I have not used FreeTaxUSA. Entering "J" asks me 3 follow up questions: Enter your basis in Roth IRA contributions: I added up all my contributions up...
by DinkinFlicka
Wed Jun 17, 2020 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

Dinkin, did the tax liability increase on the 2018 return? Yes, I'm working through FreeTaxUSA and am a bit confused. My 1099-R with distribution code PJ has a gross amount of $556.93 and a taxable amount of $32.23. However, after I added that 1099-R in, FreeTaxUSA says I now owe an extra $190 for ...
by DinkinFlicka
Tue Jun 09, 2020 9:06 am
Forum: Personal Consumer Issues
Topic: iPhone XR - Face ID vs. Touch ID?
Replies: 35
Views: 1578

Re: iPhone XR - Face ID vs. Touch ID?

I had a discussion with some co-workers about Face ID and this was one person's list of complaints: sometimes it does not recognize a face if I'm using my phone in bed/in the dark sometimes it doesn't recognize me if I'm wearing glasses oftentimes if i'm walking with my phone in my hand, if my face ...
by DinkinFlicka
Mon Jun 08, 2020 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

I forgot to suggest that you start with a COPY of your 2019 tax data file because it is easy to mess things up. (You can always go back and start over with a fresh copy again.) Start by deleting all entries that have to do with IRAs. Then input the 2019 entries in the order listed. The goal is to g...
by DinkinFlicka
Mon Jun 08, 2020 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

Note that if you file your taxes yourself, the data entry to make Form 8606 come out correctly can be a little tricky. Tax software often asks you for information on IRA withdrawals and Roth conversions before it asks about contributions. To make it come out right, you often have to ignore the IRA ...
by DinkinFlicka
Sun Jun 07, 2020 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

"P" and "J" are two different codes and their definition can be found on the backside of the 1099-R or here: https://www.irs.gov/pub/irs-pdf/f1099r.pdf Box 7 code definitions start on page 7 in the link and continue on page 9. "P" means Excess Contributions taxable in 2019 "J" means Early Distribut...
by DinkinFlicka
Sun Jun 07, 2020 9:57 am
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

Re: 1099-Rs after over contributing to Roth IRA

If it is on a "2019" tax statement, you need to report it on your 2019 tax return. The removal was likely done in 2019 for the 2018 Excess Contribution (but I question you really having an Excess Contribution). See (3) below. ... it is very unlikely you have an Excess Contribution because their com...
by DinkinFlicka
Sat Jun 06, 2020 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Rs after over contributing to Roth IRA
Replies: 21
Views: 1000

1099-Rs after over contributing to Roth IRA

In 2019, I realized that due to an income increase, I was going to be completely over the Roth IRA income limit. At this point, I had already contributed $1500 to my Roth IRA. I opened a traditional IRA and accidentally funded it with $100 (this might become important later). Then I recharacterized ...
by DinkinFlicka
Thu May 28, 2020 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 469
Views: 42020

Re: JPM Chase Reserve Card gets more expensive

We were talking about redemptions - 1.5 cent of Amazon credit per UR point is good value. On the earning side, the Sapphire Reserve earns 5x at grocery stores through June 30, so that's 7.5%. I have a feeling you won't keep points on purchases that you end up "Pay[ing] Yourself Back" on, similar to...
by DinkinFlicka
Tue May 26, 2020 10:15 pm
Forum: Investing - Theory, News & General
Topic: How to avoid tinkering?
Replies: 40
Views: 2196

Re: How to avoid tinkering?

If you use something like Personal Capital or Mint to track your portfolio, I would get rid of those and just keep track of your allocation in a simple spreadsheet that gets updated once a quarter (or maybe once a month if that feels better). I was constantly checking Personal Capital every couple d...
by DinkinFlicka
Sat Apr 18, 2020 4:32 pm
Forum: Investing - Theory, News & General
Topic: Do most Bogleheads TLH?
Replies: 55
Views: 3371

Re: Do most Bogleheads TLH?

I've been using the draw downs as an opportunity to sell some high expense funds that came from a UTMA account and re-buy into my Vanguard 3-fund approach. This has been pretty easy for me since I don't have to worry about wash sales since the high expense funds are some really specific actively man...
by DinkinFlicka
Thu Jan 23, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible traditional IRA if backdoor is in the future
Replies: 12
Views: 796

Re: Deductible traditional IRA if backdoor is in the future

Turns out she is eligible for a 403b (we didn't think she was), so I believe we have to go with a Roth IRA anyways.
by DinkinFlicka
Tue Jan 21, 2020 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible traditional IRA if backdoor is in the future
Replies: 12
Views: 796

Re: Deductible traditional IRA if backdoor is in the future

We are about 30-40 years from retirement. I've never estimated how much we'll have in pre-tax at retirement. State tax is a flat 5%. I understand why if our marginal tax rate goes up in retirement, contributing to a Roth now makes sense. If our tax rate will stay the same in retirement, does it matt...
by DinkinFlicka
Tue Jan 21, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Deductible traditional IRA if backdoor is in the future
Replies: 12
Views: 796

Re: Deductible traditional IRA if backdoor is in the future

The usual way to deal with a pre-tax IRA balance for the purpose of allowing the backdoor is to roll it into a 401k at work. How do you know she won’t have access to a 401k once she’s out of grad school? Ahh okay, I wasn't aware that a 401k was an option for a traditional IRA roll over. But like yo...
by DinkinFlicka
Tue Jan 21, 2020 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Deductible traditional IRA if backdoor is in the future
Replies: 12
Views: 796

Deductible traditional IRA if backdoor is in the future

My wife would like to start an IRA and we aren't sure which type to start with. MFJ, 24% bracket. She does not have a work sponsored plan but I have a 401K through work. However, our MAGI (for traditional IRA deduction purposes) will be less than $196K so she will be eligible to fully deduct contrib...
by DinkinFlicka
Tue Jan 21, 2020 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house with plan to move after 3-4 years
Replies: 18
Views: 1577

Re: Buying a house with plan to move after 3-4 years

Thanks for everyone's advice. Others we spoke to also recommended renting so we'll continue to look for a suitable rental.
by DinkinFlicka
Sat Jan 18, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab High Yield checking account
Replies: 32
Views: 2908

Re: Charles Schwab High Yield checking account

It's fantastic, but not as good as a Fidelity Cash Management Account. What do you think is better with the Fidelity CMA? How much do you need to keep at Fidelity to use their CMA? I have Schwab's checking but looked into Fidelity CMA. I think the main benefit is that Fidelity will automatically li...
by DinkinFlicka
Wed Jan 15, 2020 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: IRS 2020 W4 withholding: new calculation method, new form
Replies: 82
Views: 7066

Re: IRS 2020 W4 withholding: new calculation method, new form

If you leave steps 3 and 4 blank on the new form, how is the default withholding calculated?
by DinkinFlicka
Wed Jan 15, 2020 12:23 am
Forum: Investing - Theory, News & General
Topic: Personal Capital / Investment Tools
Replies: 29
Views: 2093

Re: Personal Capital / Investment Tools

I used to use Personal Capital but I've since just moved to Google Sheets for asset allocation tracking. I've been doing this for about 7 months now. I update share counts once a month to get an idea if anything needs attention. Even that might be too frequent, but it's still a lot less checking tha...
by DinkinFlicka
Mon Dec 30, 2019 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with plan to move after 3-4 years
Replies: 18
Views: 1577

Re: Buying a house with plan to move after 3-4 years

What other factors should we consider when making this decision? A couple; 1) No program has a 100% success rate, she might withdraw for a number of reasons even if she is academically up to the program. 2) Depending on the program she might get an opportunity to either study abroad for a semester ...
by DinkinFlicka
Mon Dec 30, 2019 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with plan to move after 3-4 years
Replies: 18
Views: 1577

Re: Buying a house with plan to move after 3-4 years

A rough estimate of costs to sell a home is 10% of selling price to pay for realtor commissions, inspection, repairs, staging and closing costs. Are you factoring these items in your calculation? Yes, the NYT Calculator includes selling closing costs, but defaulted it to 6%. If I bump that up to 10...
by DinkinFlicka
Mon Dec 30, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with plan to move after 3-4 years
Replies: 18
Views: 1577

Buying a house with plan to move after 3-4 years

Our living situation is going to change in the next 6 months because our landlord is selling the house we currently rent. My fiancée is in grad school and is looking at around 3-4 years to finish. It's a LCOL college town where houses that meet our criteria can be purchased for $100-125K and rented ...
by DinkinFlicka
Sat Dec 28, 2019 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property - stock certificates
Replies: 10
Views: 805

Re: Unclaimed property - stock certificates

The transfer agent responded with this: In accordance with state unclaimed property laws this account has been closed. Our records indicate that shares and/or unclaimed checks were transferred to the state listed below as unclaimed property. The escheatment file was prepared in April 2010 (a year be...
by DinkinFlicka
Mon Dec 23, 2019 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property - stock certificates
Replies: 10
Views: 805

Re: Unclaimed property - stock certificates

1. Your parents have a physical paper stock certificate likely for shares of stock that were escheated to their state as unclaimed property by Cisco’s transfer agent. The certificate is worthless if your parents no longer own the shares. They can call Cisco’s transfer agent as the stock certificate...
by DinkinFlicka
Mon Dec 23, 2019 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property - stock certificates
Replies: 10
Views: 805

Unclaimed property - stock certificates

I was helping my parents with some cleaning and came across a physical stock certificate for 30 shares of Cisco issued back in 2001. At the same time, I filled out the unclaimed property portal for Illinois for my parents and one of the unclaimed items was "underlying shares of Cisco". The value fro...
by DinkinFlicka
Sat Nov 16, 2019 7:27 pm
Forum: Personal Investments
Topic: Investing $140k in cash at 1k per week
Replies: 174
Views: 13290

Re: Investing $140k in cash at 1k per week

Question: If you had 140k already invested today, would you withdraw all of it in cash now, and slowly reinvest? Or, just leave it? Wouldn't you have to pay capital gains taxes? Its apples to oranges. I interpreted this as if you had a 140K invested at a cost basis of 140K (eg windfall of gifted sh...
by DinkinFlicka
Fri Nov 15, 2019 10:03 am
Forum: Investing - Theory, News & General
Topic: What tools do you use to track your finances?
Replies: 80
Views: 7441

Re: What tools do you use to track your finances?

I used to use Personal Capital but I've since just moved to Google Sheets for asset allocation tracking. I update share counts once a month to get an idea if anything needs attention. Even that might be too frequent, but it's still a lot less checking than when I used Personal Capital. I do miss get...
by DinkinFlicka
Mon Oct 14, 2019 5:21 pm
Forum: Personal Investments
Topic: Transferring American Funds to Vanguard
Replies: 24
Views: 1294

Re: Transferring American Funds to Vanguard

By chance, I learned more about this today via a colleague's situation. American Funds are NOT considered No Transaction Fee (NTF) funds at Vanguard. If you transfer in kind and sell at Vanguard, you may pay up to a $20 fee per fund depending on aggregate Vanguard assets. Over $500,000 fee drops to...
by DinkinFlicka
Mon Oct 14, 2019 12:08 pm
Forum: Personal Investments
Topic: American Funds/Capital Group transfer out fees
Replies: 4
Views: 1019

Re: American Funds/Capital Group transfer out fees

Inadvertent bump, but also another question: does anyone know if American Funds requires a medallion signature guarantee for transferring out? Is there a general rule for when it's needed (like if the names don't match on the accounts) or is a firm by firm thing?
by DinkinFlicka
Wed Oct 09, 2019 10:29 pm
Forum: Personal Investments
Topic: American Funds/Capital Group transfer out fees
Replies: 4
Views: 1019

American Funds/Capital Group transfer out fees

My parents set up custodial accounts for me at American Funds when I was a minor, one UTMA account and one Roth IRA (for summer jobs). I've finally gone through the process of getting those into my name and now am looking into transferring the accounts in-kind to Vanguard where I do my personal inve...
by DinkinFlicka
Tue Oct 08, 2019 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Capital website?
Replies: 26
Views: 3001

Re: Personal Capital website?

ThereAreNoGurus wrote:
Mon Oct 07, 2019 9:37 pm
Lately I have found Vanguard's marketing to be more annoying than PC's.
Do they send any marketing material directly to you? Maybe it's because I haven't met some threshold, but they only send me emails about brokerage statements and they've never call me.
by DinkinFlicka
Wed Sep 04, 2019 9:09 pm
Forum: Personal Consumer Issues
Topic: Wedding/Engagement Ring Insurance
Replies: 64
Views: 4528

Re: Wedding/Engagement Ring Insurance

We insured my fiancee's ring through Jewelers Mutual. Even though the cost of the ring was low, she's not to used wearing relatively expensive jewelry so the $30/yr was worth the peace of mind. Maybe after a couple years, we'll drop it.
by DinkinFlicka
Tue Sep 03, 2019 11:59 pm
Forum: Personal Consumer Issues
Topic: Rideshare app for NYC?
Replies: 4
Views: 509

Re: Rideshare app for NYC?

I've taken Via a couple times and I think it was cheaper, although I once took it from the airport and the quoted initial price didn't include tolls: https://ridewithvia.com This may not apply to you, but if you are visiting and spending time in Manhattan, the subway is also a very good transit opti...
by DinkinFlicka
Tue Aug 27, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable Donation - is stock or cash better?
Replies: 12
Views: 1139

Re: Charitable Donation - is stock or cash better?

mhc wrote:
Tue Aug 27, 2019 10:00 am
There is no tax benefit for donating shares with only short term gains. You only get to deduct the FMV.
Did you mean cost basis instead of FMV? You can deduct FMV minus the short term capital gain, which I think is the same as your cost basis for that stock.
by DinkinFlicka
Sat Aug 24, 2019 1:06 pm
Forum: Personal Consumer Issues
Topic: one month apartment rental in NYC
Replies: 12
Views: 1573

Re: one month apartment rental in NYC

I would also check out the Listings Project . It's a curated weekly newsletter with many different kinds of real estate listings, but typically many short term apartment sublets make it on the list. Here's this week's section on apartment sublets in NYC: https://www.listingsproject.com/newsletter/20...
by DinkinFlicka
Fri Aug 23, 2019 1:54 am
Forum: Personal Finance (Not Investing)
Topic: Provider choosing to bill as out of network
Replies: 43
Views: 3960

Re: Provider choosing to bill as out of network

I see from your other post that this is for PT. They may have therapists that aren't in the network, but it still sounds like a scam. Got the first claim details and EOB. It looks like the provider listed was a specific therapist, not the general provider. This is different than PT I've had in the ...
by DinkinFlicka
Thu Aug 15, 2019 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Provider choosing to bill as out of network
Replies: 43
Views: 3960

Re: Provider choosing to bill as out of network

I'm still not convinced this doctor is in-network. It's not as simple as seeing the doctor's name on the insurance website. I called BCBS and confirmed that the provider was in-network. The provider also told me when I went in for my first visit that they are in-network and are choosing to bill me ...
by DinkinFlicka
Wed Aug 14, 2019 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Provider choosing to bill as out of network
Replies: 43
Views: 3960

Re: Provider choosing to bill as out of network

southerndoc wrote:
Tue Aug 13, 2019 9:50 pm
You verified the provider is in-network?
toofache32 wrote:
Wed Aug 14, 2019 1:15 am
The OP said the provider IS in-network. But I would be interested in how they determined that.
Yes, the provider is in-network. I verified by going to BCBS's website and using the "Find a doctor" search.
by DinkinFlicka
Tue Aug 13, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Provider choosing to bill as out of network
Replies: 43
Views: 3960

Re: Provider choosing to bill as out of network

Typically there is a contract between either the provider or the company that they work for that determines what they are allowed to bill and whether they are in-network or out of network. This sounds extremely fishy to me. My last job I was heavily involved in medical coding and billing and workin...
by DinkinFlicka
Tue Aug 13, 2019 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Provider choosing to bill as out of network
Replies: 43
Views: 3960

Provider choosing to bill as out of network

A health care provider I started seeing is an in-network provider. However, at the first visit, they said that they are choosing to bill my insurance as an out of network provider, but I will still only be subject to my in-network deductible and required to pay my in-network copay. I'm supposed to b...
by DinkinFlicka
Fri Aug 02, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Donating Bitcoin to Fidelity DAF
Replies: 16
Views: 1612

Re: Donating Bitcoin to Fidelity DAF

Maybe Vanguard will have a one- or two-day process for moving the money internally into the Giving Account. Please let us know when that occurs. Congratulations on getting the donation made, and on informing Bogleheads about your experience. Final timeline: 07/30 - sent bitcoin to Fidelity Charitab...
by DinkinFlicka
Wed Jul 31, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Donating Bitcoin to Fidelity DAF
Replies: 16
Views: 1612

Re: Donating Bitcoin to Fidelity DAF

Quick update: after submitting the Letter of Understanding, I got a secure message from Fidelity that included a Bitcoin wallet address. I inspected the address and it had no transactions, so I'm guessing they create a unique wallet for each user or contribution. 20 minutes after sending my bitcoin ...