Search found 272 matches

by cas
Tue Jun 19, 2018 10:25 am
Forum: Investing - Help with Personal Investments
Topic: Morgan Stanley Target date portfolios?
Replies: 19
Views: 848

Re: Morgan Stanley Target date portfolios?

Other people have alluded to some of the information in this wiki, but the Boglehead's wiki on 401(k)s has a section called "Expensive or Mediocre Choices." You might find it useful.

https://www.bogleheads.org/wiki/401(k)# ... re_choices
by cas
Tue Jun 19, 2018 8:05 am
Forum: Investing - Help with Personal Investments
Topic: Morgan Stanley Target date portfolios?
Replies: 19
Views: 848

Re: Morgan Stanley Target date portfolios?

Any chance you can opt out of the consulting group. You may be extra for it. Yes, something sounds a little off, here. When you actually are able to sign up on July 1, you may log in and discover that you have inadvertently gotten in touch with someone in an optional advisory program available with...
by cas
Sun Jun 17, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Looking for BLS data on retiree health costs
Replies: 8
Views: 678

Re: Looking for BLS data on retiree health costs

Sorry, I'm not fluent with the data, but your question made me think that I thought I remembered that the Kaiser Family Foundation recently published a paper (and maybe more than one) doing some slicing and dicing of the 2016 BLS Consumer Expenditure Survey relative to health care costs. Don't know ...
by cas
Tue Jun 12, 2018 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Investing when someone else gets all dividends
Replies: 80
Views: 4730

Re: Investing when someone else gets all dividends

Do with this information what you will (since it seems completely out of line of where the conversation seems to want to go), but here are some observations from real life experience with an actual (small) trust that is more or less set up like the trust the OP speaks of. I'm not expert. I've just h...
by cas
Sat May 26, 2018 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Just wanted to clarify how taxation works on LTCG rate and Roth conversion
Replies: 20
Views: 1216

Re: Just wanted to clarify how taxation works on LTCG rate and Roth conversion

However, if I were to incur an additional $1 of LTCG, then that only results in an additional 15% tax all the way to $342,800 ($400k 15% LTCG threshold - $57,200). Is this correct? This may not be what you were asking (you may have just been confirming the mechanics of how LTCG behave around the 0%...
by cas
Mon Apr 30, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: HSA question
Replies: 5
Views: 381

Re: HSA question

--What happens to the money if Health Equity goes bankrupt? . . . I presume the FDIC insurance would cover our $1,000 With HSAs, you have to read the fine print about whether there is any FDIC/NCUA insurance on the cash accounts. Most of the time (especially if a bank or credit union is the organiz...
by cas
Sun Apr 15, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: 2018 Tax Planning Help - New to US - Couple in Their 30s
Replies: 11
Views: 903

Re: 2018 Tax Planning Help - New to US - Couple in Their 30s

[*] Big Capital Gain in 2018. We want to sell the 500K in employer stock and pay off our house. This will realize a capital gain of about 200K and nudge our AGI to about 750K for 2018. Am I right to assume that for our income bracket we are looking at a 20% long-term capital gains raise plus a 3.8%...
by cas
Sat Apr 14, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: HELP - IRS says I owe close to $12,000 for 2016 taxes
Replies: 26
Views: 4478

Re: HELP - IRS says I owe close to $12,000 for 2016 taxes

The only information she told me so far is that shares were bought a long time ago through a drip program. My knowledge of drip programs is limited, but if the shares were bought directly from the company and the company made all these changes, I wonder how helpful they would be getting information...
by cas
Sat Apr 14, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: HELP - IRS says I owe close to $12,000 for 2016 taxes
Replies: 26
Views: 4478

Re: HELP - IRS says I owe close to $12,000 for 2016 taxes

Gross proceeds from the sale: $42,000 The $42,000 consisted of covered shares and uncovered shares. $5,000 of the proceeds came from covered shares, meaning that the broker knew the cost basis. These were reported on her 2016 return correctly. $37,000 of the proceeds came from uncovered shares, mea...
by cas
Thu Apr 12, 2018 6:13 am
Forum: Investing - Help with Personal Investments
Topic: Cost basis question
Replies: 2
Views: 229

Re: Cost basis question

Hello, I inherited Stock A when my mom died in Feb 2006. Stock A spun off to Stock B in Nov 2015. I received equal shares of Stock B. I sold a portion of Stock B in Oct 2017. Do I calculate basis on date of death of Feb 2006 or when it spun off in NOV 2015? Thank you! When the spin-off of Stock B o...
by cas
Wed Apr 11, 2018 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

In any case, without knowing the actual original cost of original securities purchased about 25 years ago, it is futile to guesstimate. I will just let IRS have my pound of flesh by keeping the cost zero for 1099-B and pay the extra tax. Once the IRS gets your pound of flesh for the Micro Focus, ke...
by cas
Tue Apr 10, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

Regardless I am in similar situation but my cost basis is from DEC->CPQ merger which happened in Jun 1998. Even after googling, I am not able to find the exact date and CPQ price on that date. At least I have found the formula. I'll agree with you that the official "tax information" document that C...
by cas
Tue Apr 10, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

I don't think there was HPE on 1/1/2000 aka it did not exist. No, but (original) HP (and Compaq ... acquired by (original) HP in a non-taxable merger in 2002) existed, and if HP (or Compaq) was purchased (around) that date, then held, it would have eventually spun off HPE (in 2015) in a non-taxable...
by cas
Tue Apr 10, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

@cas, thanks for the reply and of course the company with this oddity. Everything you said makes sense up until your most recent reply. <skip> The strangeness for me is that my broker reported a sale on a 1099B for the Seattle Spin Co shares with a $0 basis. I guess one way of handling the gain I m...
by cas
Tue Apr 10, 2018 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

[*] Sale of 400 shares of Seattle Spin Co with a net 0 capital gain/loss I didn't check your math, but this is the only sentence that I'm not sure is correct. As far as I have figured out, the "sale" (taxable merger of) the 400 shares of the Seattle Spinco has a net capital gain of $869.56 from you...
by cas
Tue Apr 10, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1253

Re: Microfocus tax implications

Yes, the Seattle Spinco - Micro Focus Intl merger step made things a bit weird. As far as I have figured out, the issue with the "capital gains" and the missing 1099-B for that portion, is that the merger was between a US company and a foreign (UK) company. That made the merger *taxable* , so you ne...
by cas
Tue Apr 10, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Schedule AI and Quarterly Tax Payments
Replies: 15
Views: 1008

Re: Schedule AI and Quarterly Tax Payments

In completing Schedule AI, I basically need to be able to report how much of our income occurred each quarter, right? I was experimenting with Schedule AI yesterday, and it caught me by surprise that the IRS "quarters" aren't what I expected. (Well, given estimated tax quarterly due dates, maybe I ...
by cas
Thu Apr 05, 2018 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Vanguard Muni Funds
Replies: 8
Views: 1105

Re: Taxes on Vanguard Muni Funds

Does anyone know how to calculate this and where to enter this information in TurboTax? Are my assumptions correct. Regards, Kamal To calculate, you need the "Tax-exempt interest dividends by state for Vanguard municipal bond funds and Vanguard Tax-Managed Balance Fund" tax sheet for 2017. If you g...
by cas
Mon Apr 02, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: help with Morgan Stanley tax statement
Replies: 15
Views: 678

Re: help with Morgan Stanley tax statement

But the capital gains on page 1 were part of the 1099-div. (It looked like the 1099 you'd see for a single fund in taxable.) So I thought that might be something different from all the sales proceeds on pp 7-9. I'm not sure I even saw a 1099-b. But as a Boglehead I thought I saw a lot of useless ch...
by cas
Sat Mar 31, 2018 11:29 am
Forum: Investing - Help with Personal Investments
Topic: Price history for merged company
Replies: 11
Views: 688

Re: Price history for merged company

In verifying the basis for the holdings we now have, I have hit a small speed bump - I can't find price history for KRFT. KRFT (Kraft Foods) was taken over by Heize in 2015 and I would like to see price history back to 2001. This isn't what you asked for (price history), but does this cost basis ch...
by cas
Fri Mar 23, 2018 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Tax deductions for costs of planner for setting up special needs trust
Replies: 11
Views: 650

Re: Tax deductions for costs of planner for setting up special needs trust

Beyond the Line 23 Sched A instructions (which are available for 2017 tax year, but not 2018 tax year, I assume?), I have in the back of my mind that many (all?) of those miscellaneous subject-to-2%-income-threshold deductions were going away starting in the 2018 tax year (under the provisions of th...
by cas
Thu Mar 22, 2018 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Lost my wallet few days back. Someone trying to hack me today. What to do?
Replies: 10
Views: 2021

Re: Lost my wallet few days back. Someone trying to hack me today. What to do?

Do you have a credit freeze in place with all the major reporting credit agencies? ( Boglehead's wiki "Credit Freeze" https://www.bogleheads.org/wiki/Credit_freeze ) Here is a recent thread of a situation that sounds similar to yours. Unfortunately, things got bad for that person, very fast. https:/...
by cas
Wed Mar 21, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Can you validate the tax calculation from my CPA. It doesn't seem right to me
Replies: 17
Views: 1814

Re: Can you validate the tax calculation from my CPA. It doesn't seem right to me

Interest and non-qualified dividends are taxed at your marginal tax rate (33% in your case), while qualified dividends are taxed at the capital gains rate (15% for you), so your $15k of interest and dividend income would add $2,250 to $4,950 to your tax liability depending on the split between inte...
by cas
Tue Mar 20, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits
Replies: 20
Views: 3707

Re: elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits

The requirement is not that vague - the HMS letters (they have sent out several to remind people) specifically state that the only documentation that will be accepted is a Tax Return Transcript and not a Form 1040 and give the link that directly links to the IRS Tax Return Transcript: If you and yo...
by cas
Mon Mar 19, 2018 7:59 am
Forum: Personal Finance (Not Investing)
Topic: elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits
Replies: 20
Views: 3707

elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits

This post is partially as a heads-up for other people who might find themselves in the same situation and partially a "Does this seem weird?" question. My elderly mother called me in a panic on Saturday. She had gotten a letter from the state of Florida employee/retiree health insurance organization...
by cas
Fri Mar 16, 2018 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax- Foreign Tax question.
Replies: 8
Views: 983

Re: Turbo Tax- Foreign Tax question.

Additionally during "federal review" TurboTax asks me : Box 6 to pick one of these options. a) Check box to deduct foreign taxes on schedule A. b) Double click to link a copy of Form 1116. c) For form 1116 select which column A/B/C d) foreign source amount included in dividends. It seems a bit odd ...
by cas
Fri Mar 16, 2018 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Check my Fed Tax Math Please
Replies: 11
Views: 1023

Re: Check my Fed Tax Math Please

Return $200k cash = I am taxed 20% on my $100k profit, since 20% LTCG right (has been 2 years)? So after taxes that is $180k $200k common stock = if sell immediately, am I taxed 37% on this since short term gains, so $126k net? Versus hold for a year and (assuming stays at $200k) then $160k net sin...
by cas
Wed Mar 14, 2018 8:24 am
Forum: Investing - Help with Personal Investments
Topic: Widowhood, Budgets and tIRA to ROTH IRA Conversion ?
Replies: 15
Views: 1758

Re: Widowhood, Budgets and tIRA to ROTH IRA Conversion ?

Here's a post to bump your thread back up to the top of the pile, since it is an important question, and people may not have noticed that you've now added lots of information and posted in the requested format.
by cas
Mon Mar 12, 2018 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Should my long term capital gains taxes change if I am in a high income bracket?
Replies: 21
Views: 2771

Re: Should my long term capital gains taxes change if I am in a high income bracket?

If my income in 2018 is $200,000, my capital gains tax is $291,000. However, if my income is $100,000 it's $279,000. If my AGI pushes me into the highest LTCG bracket at 20%, how can my income affect tax there so much? I would assume my LTCG tax would be the same since it would already be in the 20...
by cas
Mon Feb 19, 2018 10:07 am
Forum: Investing - Help with Personal Investments
Topic: High ER funds with large cap gains - what to do ?
Replies: 10
Views: 1047

Re: High ER funds with large cap gains - what to do ?

1) Figure out the capital gains tax, including state taxes , as a percent of the entire value of the fund, not just the gains. (assume that you are in the 20% combined capital gains tax bracket) <skip> This ignores the compounding and that the chance that the capital gains might trigger other thing...
by cas
Sat Feb 17, 2018 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: cybertheft from brokerage and retirement accounts after Equifax identity theft
Replies: 23
Views: 3133

Re: cybertheft from brokerage and retirement accounts after Equifax identity theft

I'm not saying that it cannot happen, but can someone give an example of an individual investor who has lost all or part of their brokerage account due to cyberhacking, where the investor had not done something stupid (aka shared their login with others) and where the assets were not recovered or r...
by cas
Sat Feb 17, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: 1099B and tax impact
Replies: 4
Views: 403

Re: 1099B and tax impact

Another thought.... AMT and NIIT are taxes that generally occur at higher incomes. If you happen to have a more modest income and part of the income is Social Security, capital gains can interact with the SS income in unpleasant ways, causing very high marginal tax rate "humps". If you are receiving...
by cas
Sat Feb 17, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: 1099B and tax impact
Replies: 4
Views: 403

Re: 1099B and tax impact

livesoft is right that it is necessary to compare before-and-after 1040s. But, a couple of things to check: Look at your Form 8949/Schedule D and make sure that cost basis and purchase/sale dates are entered correctly. (If Turbotax incorrectly thinks it is a short term gain of the whole $10,000, tha...
by cas
Wed Feb 14, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Helping Mom with Taxes
Replies: 49
Views: 2940

Re: Helping Mom with Taxes

Is the income from the A/B trust reported under her name, or is a separate trust return prepared, with a K-1 to assign the income to her? This would be my big concern, too. (I am not a lawyer or an accountant, and trusts can take many forms, so the information below is based only on my limited expe...
by cas
Wed Feb 07, 2018 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Helping parents reduce taxes (dividends)
Replies: 27
Views: 1611

Re: Helping parents reduce taxes (dividends)

My mom is turning 70 and has always had a modest salary from teaching She has been telling me for a few years of owing a lot in taxes each April (Bold added by me.) Having written a long post on marginal tax rates, it occurs to me that perhaps I should have first taken the comment about "owing a lo...
by cas
Wed Feb 07, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Helping parents reduce taxes (dividends)
Replies: 27
Views: 1611

Re: Helping parents reduce taxes (dividends)

My mom is turning 70 and has always had a modest salary from teaching She has been telling me for a few years of owing a lot in taxes each April, presumably from all of the dividends being thrown-off in her taxable account. (Bold added by me.) There are some hints in what you write that make me won...
by cas
Mon Feb 05, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: 2017: A hard, complicated time, i.e. Death & Taxes
Replies: 15
Views: 1904

Re: 2017: A hard, complicated time, i.e. Death & Taxes

It’s somewhat confusing on how to reply to posts so I apologize for the way I have replied, where it’s hard to read who wrote what part...... I did the copy and paste thing, but can’t figure out the highlighting in different color (beige) part. Any simple instructions on the correct format for repl...
by cas
Mon Feb 05, 2018 8:14 am
Forum: Personal Consumer Issues
Topic: Equifax Unlocked Me And IRS Account
Replies: 5
Views: 951

Re: Equifax Unlocked Me And IRS Account

I don't know if this will help or not, but this IRS web page gives details on the process for getting access to various IRS web services. There are a lot of finicky details. "Secure Access: How to Register for Certain Online Self-Help Tools" https://www.irs.gov/individuals/secure-access-how-to-regis...
by cas
Fri Feb 02, 2018 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can an inherited Capital Loss (not Gain) from a Trust be written off of an individual’s Capital Gain?
Replies: 3
Views: 345

Re: Can an inherited Capital Loss (not Gain) from a Trust be written off of an individual’s Capital Gain?

The reason I'm thinking it will qualify is that both Uncle Sam and the State Tax Authorities are interested in taxing WHO got the money, so any proceeds that I obtain from my father's Trust will be tracked via my SS#. So in the end, the Tax authorities will see both a capital gains and a capital lo...
by cas
Fri Feb 02, 2018 10:37 am
Forum: Investing - Help with Personal Investments
Topic: I BONDS Maturing in 2030
Replies: 42
Views: 3039

Re: I BONDS Maturing in 2030

In the following example this is the better course as long as the marginal tax rate at maturity is less than 48%. My elderly parents (I do their taxes) had 1986 EE Savings bonds mature in 2016. I had been so pleased about the 4% interest they were earning until I did their taxes. I've forgotten the...
by cas
Wed Jan 31, 2018 7:05 pm
Forum: Investing - Theory, News & General
Topic: "Index funds will, by their very definition, return the benchmark and be the median return."
Replies: 22
Views: 2608

Re: "Index funds will, by their very definition, return the benchmark and be the median return."

I remember reading research papers stating that more than 80% of the actively managed funds lagged behind S&P index. But, unfortunately, I can't find those papers at the moment. I'll continue looking for the references but if anyone among the bh group here has those references handy, could you plea...
by cas
Tue Jan 30, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Steps for Redeeming/Reporting/Paying interest & penalties for inherited matured EE Series Savings Bonds
Replies: 3
Views: 350

Re: Steps for Redeeming/Reporting/Paying interest & penalties for inherited matured EE Series Savings Bonds

I am not any kind of expert, so don't go just on my word, but... I think you also have the option of reporting all the accrued EE bond interest on your father's final income tax return, if that has not yet been filed. In cases where somebody dies early in the year without much income or where there ...
by cas
Tue Jan 30, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Trust account at Vanguard with 2 trustees with separate logins
Replies: 15
Views: 1321

Re: Trust account at Vanguard with 2 trustees with separate logins

But all that would seem to be a separate issue from the issue of who can see act/on a trust account (say I, in my ignorance.) To me, it's all related. The owner of the assets should have all the rights that a owner usually has--buy, sell, trade, give away, pay taxes on it. Well, yes, but ... legall...
by cas
Mon Jan 29, 2018 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Trust account at Vanguard with 2 trustees with separate logins
Replies: 15
Views: 1321

Re: Trust account at Vanguard with 2 trustees with separate logins

We have a joint trust account at Vanguard which is tagged with my SSN. The Vanguard rep who last helped us says there can only be one SSN attached to each account. Is this true? We will be opening a new account to hold an inheritance DH is receiving. Our lawyer suggests it be put into the trust acc...
by cas
Sun Jan 28, 2018 9:23 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard tax exempt nj bond fund taxed?
Replies: 5
Views: 397

Re: Vanguard tax exempt nj bond fund taxed?

The item you are seeing on the 1099-DIV is (technically) "capital gains distributions" rather than "capital gains." The distinction is a surprise to a lot of people new to taxable accounts. Both "capital gains" and "capital gains distributions" are taxable. The distinction is what jhfenton said in h...
by cas
Sun Jan 28, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Identity Theft - Social Security Claim & Green Dot Bank Debit
Replies: 15
Views: 1852

Re: Identity Theft - Social Security Claim & Green Dot Bank Debit

I do have a mySSA account, protected with a unique password, fwiw. It did not protect me in this instance, and I have been told by an SSA employee that people can file for benefits online WITHOUT a mySSA account. I have not verified this. Amazingly, I received a SS 1099 on 1/5/2018. I've never ever...
by cas
Sat Jan 27, 2018 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with large stock holding in taxable account
Replies: 32
Views: 2743

Re: What to do with large stock holding in taxable account

This is a drop in the bucket, but easy and something I've seen a lot of people (including me) miss: Does he, by any chance, have the dividends of the Home Depot set to reinvest back into more Home Depot shares? If so ... stop ... and invest the dividends into something diversifying. That doesn't sol...
by cas
Sat Jan 27, 2018 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with large stock holding in taxable account
Replies: 32
Views: 2743

Re: What to do with large stock holding in taxable account

. As far as I can understand after a quick look at the tax laws, his two options are to sell a little every year and pay 15% cap gains tax, or it all at once to get immediate diversification and pay 20% cap gains tax. Selling it all at once (or in very large chunks) could cause several other taxes ...
by cas
Sat Jan 27, 2018 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Tax Question
Replies: 8
Views: 1413

Re: Capital Gains Tax Question

It certainly puts a different spin on the 20 percent maximum capital gains tax if it then lifts your other income into a higher tax rate. LTCG and Qualified dividends don't lift your ordinary income into higher brackets. The LTCG/QDI "float on top" of the ordinary income. As boridi pointed out, the...
by cas
Fri Jan 26, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Sanity check of SS with less than 35 years earnings
Replies: 31
Views: 3905

Re: Sanity check of SS with less than 35 years earnings

Michael Kitces had an article on this topic that I remember reading not too long ago. I think it was this one: "The Impact Of Early Retirement On Projected Social Security Benefits" https://www.kitces.com/blog/calculating-how-much-projected-social-security-benefits-statement-reduced-for-early-retire...