Search found 64 matches

by DrCheese
Thu Nov 26, 2020 6:40 am
Forum: Personal Investments
Topic: Selling individual lots in taxable to fund Roths while on ACA. How would you do it?
Replies: 10
Views: 1024

Re: Selling individual lots in taxable to fund Roths while on ACA. How would you do it?

cas wrote: Thu Nov 26, 2020 6:20 am
*or, at the very least, playing the lottery to hope that the market drops after the dividends are reinvested to that you can sell those particular lots at a loss under time pressure at the end of the year

I am always hoping that I will lose money in the market, too. :oops:
by DrCheese
Fri Sep 25, 2020 5:21 pm
Forum: Personal Investments
Topic: If you owned Wellington would you have to file a schedule 1 on your taxes if you did not sell any shares?
Replies: 7
Views: 941

Re: If you owned Wellington would you have to file a schedule 1 on your taxes if you did not sell any shares?

Most likely, you would have to report capital gains on Schedule D even if you did not sell. Last year, Wellington declared a long term capital gain. https://investor.vanguard.com/mutual-funds/profile/distributions/vgwlx If they declared a capital gain last year, chances are good that they will decla...
by DrCheese
Mon Sep 21, 2020 7:46 pm
Forum: Personal Investments
Topic: Trying to figure out my estimated taxes for 2020 is driving me insane!
Replies: 22
Views: 2738

Re: Trying to figure out my estimated taxes for 2020 is driving me insane!

I will take a shot at it: 165k + 184k - 12,400 = 336,600. This is taxed at ordinary income tax rates. Tax is $92,605 Long Term capital gains is taxed at 15% up to 441,450 then at 20%. Thus $104,850 is taxed at 15% (15,727.50). 259,150 at 20% (51,830) So far the tax is 160,162.50. Now you have to pay...
by DrCheese
Sun Aug 23, 2020 10:41 am
Forum: Personal Investments
Topic: CDs coming due. Where to reinvest proceeds?
Replies: 62
Views: 6241

Re: CDs coming due. Where to reinvest proceeds?

I know some people here hate premier notes but Dukes Energy notes are paying 1.40% for balances above $50k. You can take out your money at any time. Write checks against the balance (Checks must be $250 or above). https://www.duke-energy.com/our-company/investors/individual-investors/premiernotes-in...
by DrCheese
Tue Aug 04, 2020 6:38 am
Forum: Personal Investments
Topic: DRIP enabled, but dividends are not getting re-invested!!!. Fidelity BrokerageLink (401k) account
Replies: 5
Views: 523

Re: DRIP enabled, but dividends are not getting re-invested!!!. Fidelity BrokerageLink (401k) account

You must have setup the dividends "DRIP" by the ex-dividend date to have the dividends re-invested.
by DrCheese
Sun Jun 21, 2020 3:47 pm
Forum: Personal Investments
Topic: Fidelity Transaction Fee?
Replies: 11
Views: 988

Re: Fidelity Transaction Fee?

Why do you think there is a transaction fee for buying Vanguard Balanced fund?

There is none.
by DrCheese
Fri Apr 10, 2020 8:08 pm
Forum: Personal Investments
Topic: I-Bonds: March 2020 BLS CPI-U report
Replies: 18
Views: 1881

Re: I-Bonds: March 2020 BLS CPI-U report

Well for 0.2% fixed bonds, it only takes a -0.2 inflation rate to get a 0 combined rate. This has happened twice before where the inflation rate has gone negative resulting in the combined rates of numerous bonds to be 0. May 2009 - the inflation rate was -2.78% and in May 2015 the inflation rate w...
by DrCheese
Wed Mar 25, 2020 10:47 am
Forum: Personal Investments
Topic: Fidelity IVV price
Replies: 4
Views: 256

Re: Fidelity IVV price

pshonore wrote: Wed Mar 25, 2020 10:44 am IVV is actually ex-dividend today (paying $1.0622) so that may be the culprit
IVV is paying $1.531356. https://www.ishares.com/us/products/239 ... ckerSearch
by DrCheese
Mon Mar 02, 2020 8:42 am
Forum: Personal Investments
Topic: Hesitant to switch from Financial advisor - Please Help
Replies: 29
Views: 2463

Re: Hesitant to switch from Financial advisor - Please Help

Do I need to speak with my advisor first, liquidate, and then initiate the transfer? How should the transfer process for this scenario happen as far as liquidating my current mutual funds and buying the ETFs? Thank you in advance! Also, you can negotiate with Fidelity for some free trades to sell f...
by DrCheese
Tue Feb 25, 2020 6:52 pm
Forum: Personal Investments
Topic: Fidelity Privacy Concerns
Replies: 19
Views: 2569

Re: Fidelity Privacy Concerns

Another item of interest is that now when I log onto my account the advisor I met with is now being shown as my advisor. The same exact thing happened to me. I was upset because he did this without even asking me if it was OK. I called the 800 number and ask that he be removed from my account. They...
by DrCheese
Thu Jan 23, 2020 3:04 pm
Forum: Investing - Theory, News & General
Topic: Total Stock Market Index - Section 199A dividends this year
Replies: 170
Views: 22567

Re: Total Stock Market Index - Section 199A dividends this year

[/quote] Can you post a screenscrape of how turbotax filled out Form 8995? Use fictitious numbers if you prefer. [/quote] Here are step by step directions. On form 8995 Line 6, place Section 199a dividends from 1099-Div box 5 (in attached example, I had $5,000 in Section 199a dividends in Box 5) Lin...
by DrCheese
Wed Jan 15, 2020 8:11 am
Forum: Personal Finance (Not Investing)
Topic: NJ Shared Responsibility Payment
Replies: 11
Views: 767

Re: NJ Shared Responsibility Payment

So you are saying that NJ can tax "tax-exempt" interest? The worksheet you linked to simply says to enter a line from NJ's 1040 as income. Are you sure that includes tax-exempt interest ? I doubt it. Line 2 of the worksheet actually says "enter the amount from 16b (tax-exempt interes...
by DrCheese
Wed Jan 15, 2020 8:04 am
Forum: Personal Finance (Not Investing)
Topic: NJ Shared Responsibility Payment
Replies: 11
Views: 767

Re: NJ Shared Responsibility Payment

So you are saying that NJ can tax "tax-exempt" interest? The worksheet you linked to simply says to enter a line from NJ's 1040 as income. Are you sure that includes tax-exempt interest ? I doubt it. Line 2 of the worksheet actually says "enter the amount from 16b (tax-exempt interes...
by DrCheese
Wed Jan 15, 2020 7:48 am
Forum: Personal Finance (Not Investing)
Topic: NJ Shared Responsibility Payment
Replies: 11
Views: 767

Re: NJ Shared Responsibility Payment

Of course they can. Massachusetts has had similar with "RomneyCare" which became ObamaCare for the country. We have similar fines, although I think ours are more fixed. I've always had health insurance, so have never had to pay anything. So you are saying that NJ can tax "tax-exempt&...
by DrCheese
Wed Jan 15, 2020 7:39 am
Forum: Personal Finance (Not Investing)
Topic: NJ Shared Responsibility Payment
Replies: 11
Views: 767

NJ Shared Responsibility Payment

NJ is charging the 2.5% Shared Responsibility Payment for failure to have health insurance on all income including tax-exempt interest (ie US Savings Bond Interest, Treasury Bills, Municipal Bonds etc). https://www.state.nj.us/treasury/taxation/pdf/current/srp.pdf Worksheet is on page 3. Can they do...
by DrCheese
Tue Jan 07, 2020 4:11 pm
Forum: Personal Investments
Topic: Why are all my dividends non-qualified?
Replies: 11
Views: 1492

Re: Why are all my dividends non-qualified?

not4me wrote: Tue Jan 07, 2020 4:08 pm It is too early in the year to find the qualified dividend number. You'll have to wait until 1099 comes out. Especially true for cases in which Fidelity is only the broker.
+1

Ishares has not released their 2019 QDI percentages yet. Give it another two weeks and it will be updated.
by DrCheese
Mon Dec 23, 2019 1:38 pm
Forum: Personal Investments
Topic: I'm at the ACA cliff and need to reduce my taxable income by placing assets in tax-deferred investment vehicles
Replies: 28
Views: 2810

Re: I'm at the ACA cliff and need to reduce my taxable income by placing assets in tax-deferred investment vehicles

Also be aware of the impact of tax deferral of interest on i-bonds. If you are buying a large amount, buy it in small chunks and perhaps various maturities. This makes no sense. There is only one maturity - 30 years. Buy in small chunks????????? You can redeem your i-bond in any amount you choose a...
by DrCheese
Mon Nov 04, 2019 8:21 am
Forum: Personal Investments
Topic: Nice surprise from Computershare after transfer to VG
Replies: 10
Views: 1904

Re: Nice surprise from Computershare after transfer to VG

I hope they use it when reporting 1099s. Nope, self inputted data is never reported to the IRS. These trades are from over 20 years ago, so I hope you're wrong or they change things. I've read you should keep 3 or 7 years of tax records, but keeping brokerage and transaction records nearly forever ...
by DrCheese
Sun Nov 03, 2019 8:01 am
Forum: Personal Investments
Topic: Nice surprise from Computershare after transfer to VG
Replies: 10
Views: 1904

Re: Nice surprise from Computershare after transfer to VG

inbox788 wrote: Sat Nov 02, 2019 7:17 pm I hope they use it when reporting 1099s.
Nope, self inputted data is never reported to the IRS.
by DrCheese
Tue Oct 22, 2019 6:59 pm
Forum: Personal Investments
Topic: Fidelity Disclosed Personal Account Information
Replies: 20
Views: 2991

Re: Fidelity Disclosed Personal Account Information

My Fidelity rep would call me once a month asking "how I was doing". I called the 800 number, asked for that rep to be taken off my account and for me to placed on the "do not call list". Five years later, I have yet to receive a phone call from Fidelity nor to be assigned anothe...
by DrCheese
Tue Oct 15, 2019 7:28 am
Forum: Personal Investments
Topic: I-bonds with kids
Replies: 18
Views: 1918

Re: I-bonds with kids

As co-owners, what's to stop your kids from redeeming them regardless of what you want? Not telling them about Treasury Direct...until they’re 45! Mwahahahahahaha! (Cue lightning bolts and screeching bats) See that is one of my biggest fears. That I die and no one knows that I have a Treasury Direc...
by DrCheese
Sat Oct 05, 2019 4:34 pm
Forum: Investing - Theory, News & General
Topic: How many are switching from Fidelity?
Replies: 140
Views: 17956

Re: How many are switching from Fidelity?

Just curious how many Bogleheads are switching from fidelity to TD Ameritrade, Schwab, or ETrade with the dropping of commission fees? I have accounts at vanguard and Fidelity, and was considering moving the Fidelity accounts to one of the companies that has dropped commissions. I have already aske...
by DrCheese
Sat Oct 05, 2019 1:29 pm
Forum: Investing - Theory, News & General
Topic: How many are switching from Fidelity?
Replies: 140
Views: 17956

Re: How many are switching from Fidelity?

Yeah, I will be moving my stocks to Schwab. However, I will be keeping my IRA and HSA at Fidelity. No commission trades plus the bonus is enough to make me switch. Easy $1,200 (minus taxes). Bonus link: https://www.schwab.com/public/schwab/nn/investor_reward.html Bonus tiers: $200 bonus for $50,000–...
by DrCheese
Sun Aug 11, 2019 7:24 pm
Forum: Investing - Theory, News & General
Topic: The Fate of the World’s Largest ETF Is Tied to 11 Random Millennials
Replies: 13
Views: 2684

The Fate of the World’s Largest ETF Is Tied to 11 Random Millennials

Very interesting article on the ETF SPY. The fate of the world’s largest exchange-traded fund rests on the health of a group of twenty-somethings. Thanks to a quirk in the legal structure used to set up the SPDR S&P 500 ETF Trust, known as SPY, more than $250 billion rests on the longevity of 11...
by DrCheese
Sat Jul 20, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Harrassed at work, what steps to take to protect her future employment
Replies: 93
Views: 9161

Re: Harrassed at work, what steps to take to protect her future employment

Will do good wrote: Thu Jul 18, 2019 8:53 am She has taken to communicating with her manager by email to document all requests and to limit verbal requests.

If I was her manager and she told me how I should interact with her, I would label her as trouble and try to get rid of her.
by DrCheese
Mon Jul 15, 2019 12:25 pm
Forum: Personal Investments
Topic: Does health premium costs lower MAGI?
Replies: 7
Views: 774

Re: Does health premium costs lower MAGI?

Yes it gets deductes pre tax Can you deduct health premiums? Maybe... If you are employed and the premiums (that you pay) are taken out of your paycheck. Yes If you are self employed. Yes If you are paying medicare or ACA premiums. No. Unless you meet the 7.5% threshold of your adjusted gross incom...
by DrCheese
Mon Apr 08, 2019 4:49 pm
Forum: Personal Investments
Topic: Pay off mortgage better or worse than investing in bonds?
Replies: 30
Views: 4258

Re: Pay off mortgage better or worse than investing in bonds?

The tax break for mortgages is all but dead. I have a $24,000 standard deduction. I use $10,000 for state and local taxes so the first $14,000 of mortgage interest gets me nothing.
by DrCheese
Sat Jan 19, 2019 7:32 am
Forum: Personal Investments
Topic: Hesitant to sell
Replies: 11
Views: 1481

Re: Hesitant to sell

Thanks for the reply. It's only about 7% of my portfolio, and I probably will not hold on to it long enough to pass it on to my heirs. I have been reinvesting dividends, but I've actually had a capital loss in those lots over the last 12 months, so yay? If you sell with a loss (even on one purchase...
by DrCheese
Sat Dec 15, 2018 9:33 pm
Forum: Personal Investments
Topic: HDV dividend down 10.4%. Why?
Replies: 1
Views: 530

HDV dividend down 10.4%. Why?

Does anyone know why the HDV (High Dividend Fund ETF) dividend is down 10.4% this quarter?

The last three quarters the dividend was above 79 cents, this quarter it is .70881

https://www.ishares.com/us/products/239 ... ckerSearch
by DrCheese
Fri Oct 12, 2018 4:40 pm
Forum: Investing - Theory, News & General
Topic: If someone keeps 500K in two different FDIC insured bank accounts, 250K at each, are they still covered?
Replies: 8
Views: 1366

Re: If someone keeps 500K in two different FDIC insured bank accounts, 250K at each, are they still covered?

Yes, the entire 500k is insured by the FDIC if you keep 250k at two separate banks. Anything over 250k will not be insured. Regarding Beneficiaries: Number of Unique Beneficiaries Maximum Deposit Insurance Coverage 1 Beneficiary $250,000 2 Beneficiaries $500,000 3 Beneficiaries $750,000 4 Beneficiar...
by DrCheese
Fri Jul 06, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Anyone with experience in Social Security/SSA Hearings?
Replies: 15
Views: 1789

Re: Anyone with experience in Social Security/SSA Hearings?

What is the total dollar amount Social Security wants paid back?
by DrCheese
Wed Jun 27, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 181
Views: 26153

Re: IRS publishes draft 2018 1040 - Huge changes made

We should all wait until April to file for the developers to work out the bugs. But we're told that we need to file early so the identity thieves don't beat us to the punch. Arrange to owe and then you don't need to worry about someone else filing in your name. Identity thieves just put down that y...
by DrCheese
Wed Jun 27, 2018 5:21 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 181
Views: 26153

Re: IRS publishes draft 2018 1040 - Huge changes made

yousha wrote: Tue Jun 26, 2018 10:40 pm Does anyone know whether the new IRS forms will be mailed to the taxpayers?
Tax forms have not been automatically mailed out for many years.

However, if you call 1-800-tax-form and request the forms after December 1, 2018, the IRS will mail the forms to you.
by DrCheese
Tue Jun 26, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 181
Views: 26153

Re: IRS publishes draft 2018 1040 - Huge changes made

The only "problem" I have with this is putting capital gains on schedule 1. It should be on the 1040. Now if I have a few capital gains, I have to file Schedule 1, Schedule D and Form 8949. It is a little too much.
by DrCheese
Tue Jun 26, 2018 12:04 pm
Forum: Investing - Theory, News & General
Topic: Where to find qualified dividend income for funds?
Replies: 15
Views: 1657

Re: Where to find qualified dividend income for funds?

Those links are good for mutual funds but not ETFs. I, too, have never been able to find QDI for ETFs.

In my only bad call to a Fido rep, when I asked where to find the QDI information for ETFs, he said I had to buy the ETF to find out that information.
by DrCheese
Tue Jun 26, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 181
Views: 26153

Re: IRS publishes draft 2018 1040 - Huge changes made

The new 1040 no longer has a line for deductible contributions to an IRA (Line 32 of the previous form). Everything is still there but they have moved everything to schedules. Line 32 of the previous form is there on Schedule 1 line 32. It seems the IRS goal was to get a one page 1040 possibly to f...
by DrCheese
Tue Jun 26, 2018 6:08 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 181
Views: 26153

IRS publishes draft 2018 1040 - Huge changes made

https://www.nytimes.com/2018/06/25/your ... tcard.html

It is now just one page instead of two. However the IRS has added six new schedules.

The new form is meant to replace the 1040, 1040A and 1040EZ.
by DrCheese
Fri Jun 22, 2018 3:34 pm
Forum: Personal Investments
Topic: “Buying the Dividend”
Replies: 17
Views: 2574

Re: “Buying the Dividend”

It is not the worst thing to buy a dividend. You just pay the tax now rather than later. If you bought the dividend, you will have a higher basis and pay less when you sell.
by DrCheese
Wed May 16, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 16498

Re: how do you tip on wine at a restaurant

What if I order water (free), do I tip zero? It is the same amount of work if I order another non-alcoholic drink.
by DrCheese
Fri May 11, 2018 3:01 pm
Forum: Personal Investments
Topic: Estimated Tax on Large Capital Gain
Replies: 44
Views: 5764

Re: Estimated Tax on Large Capital Gain

There also is a 3.8 percent tax on net investment income for single taxpayers with modified adjusted gross income above $200,000 ($250,000 for married couples filing jointly).
by DrCheese
Wed May 09, 2018 7:18 am
Forum: Personal Finance (Not Investing)
Topic: How to handle problem employee
Replies: 84
Views: 7932

Re: How to handle problem employee

BusterMcTaco wrote: Wed May 09, 2018 1:31 am
fujiters wrote: Wed May 09, 2018 1:19 am In this discussion, I feel like you're coming across as a problem manager.
I strongly agree.
I strongly agree too. I would be complaining to the VP about you if I was the employee.
by DrCheese
Thu Mar 01, 2018 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Just received 1099B
Replies: 11
Views: 1023

Re: Just received 1099B

If the IRS owed you $3.00 would you want it? I wouldn't. $3 is rounding error. No - $0.50 is a rounding error. I just received a 1099B! Of course, I've already filed my taxes and received my refund. This was for the sale of Spectra Stock that was taken over by Enbridge Inc. (a Canadian entity). The...
by DrCheese
Wed Feb 21, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

Congratulations on getting the website updated and clarifying Mass. DOR expectations.
by DrCheese
Sat Feb 17, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

I do not want to beat a dead horse. However, the federal and state government does not know if Meghan bought her furniture for $9000 new or picked it up at the side of the road on trash day and then resold it for $5000. The only way they would know is if it was reported to them on schedule C. My hu...
by DrCheese
Sat Feb 17, 2018 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

Dr- thanks for confirming about the 28% tax rate. I entered the coin sale in TT under collectibles, which captured the correct tax rate at 28%. The musical instrument, I showed as sale of personal items, which appear to be getting hit with the regular CG rate. FYI- I did complete the Schedule C for...
by DrCheese
Thu Feb 15, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

I do not disagree with that strategy. Just be warned that for collectibles you must fill out the the 28% Rate Gain Worksheet on D-12 of the Schedule D instructions. There is no 15% long term capital gains rate for collectibles. From Schedule D instructions: Collectibles include works of art, rugs, a...
by DrCheese
Thu Feb 15, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

I do not want to beat a dead horse. However, the federal and state government does not know if Meghan bought her furniture for $9000 new or picked it up at the side of the road on trash day and then resold it for $5000. The only way they would know is if it was reported to them on schedule C. My hun...
by DrCheese
Thu Feb 15, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600
Replies: 105
Views: 9550

Re: [New MA & VT Tax reporting]- 1099-K threshold reduced to $600

How does it settle anything? I believe we are talking about this example: Meghan is downsizing her home and sells furniture on an auction site for $5,000. The original purchase price of the furniture was $9,000. The $5,000 IS NOT subject to tax as it is a function of selling personal items at a loss...
by DrCheese
Sat Feb 10, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Bank mailed individual 1099-INT and Combined 1099-INT
Replies: 6
Views: 635

Re: Bank mailed individual 1099-INT and Combined 1099-INT

Nobody on this board can know the answer to this. The only one who knows the answer is your bank. Give them a call and ask them.