Search found 627 matches

by Monster99
Sat Feb 24, 2024 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits payment confusion
Replies: 13
Views: 2033

Re: Social Security Benefits payment confusion

I started SS as of Feb but have been making quarterly Medicare payments for several years. My last quarterly payment was Dec, Jan and Feb and since I started SS in Feb they will deduct for Medicare. The Dec quarterly was at 2023 rate and Jan and Feb at the 2024 rate - so I either owe them ~20 bucks or I get a refund of 154..... I assume it will eventually get worked out....
by Monster99
Sat Feb 24, 2024 7:28 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2023 SSA/1099 Withholding?
Replies: 19
Views: 2915

Re: H&R Block 2023 SSA/1099 Withholding?

My HR Block program updated yesterday evening and the issue is still there. It is just a alert, shouldn't prevent my efile. I will still wait until early March to submit, as I owe the Feds a small amount.
by Monster99
Sat Feb 24, 2024 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Mailing in a State paper return
Replies: 6
Views: 857

Re: Mailing in a State paper return

Typically, if the item shows that you paid tax, you include it with your return.
by Monster99
Sun Feb 18, 2024 3:32 pm
Forum: Personal Investments
Topic: VMFXX Income
Replies: 7
Views: 1580

Re: VMFXX Income

barrybonds282 wrote: Sun Feb 18, 2024 11:38 am Thank you. They give the percentages for every other fund on the 1099 so why don't they give the percentage for the Settlement Fund? Also on the 1099-DIV for mutual fund accounts they don't give any percentages. Weird.
Look on the last page of the brokerage form- I believe footnote #99 gives the percentage. No idea why it is there...
by Monster99
Thu Feb 15, 2024 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2023 SSA/1099 Withholding?
Replies: 19
Views: 2915

Re: H&R Block 2023 SSA/1099 Withholding?

Same issue with small long term loss on the 1099B after the current update. Every year the issues seem to multiply. Hope the IRS gets their online reporting system up and running in the next few years.
by Monster99
Wed Feb 14, 2024 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How Far in Advance to Apply for Social Security
Replies: 56
Views: 11041

Re: How Far in Advance to Apply for Social Security

Just received my benefits letter in the mail -- DW spousal bump and my gross amount appears correct within $2 of what the SS program anyPIA calculated. I think I will still owe them $18.60 for Jan and Feb difference for Medicare payments but I assume they will bill me later.
by Monster99
Sat Jan 27, 2024 9:18 am
Forum: Personal Investments
Topic: Tax Forms Not Available Until Feb
Replies: 18
Views: 1613

Re: Tax Forms Not Available Until Feb

I have only Vanguard funds in my brokerage account and have the same estimate. Seems to be later every year....
I remember back in the old days, they arrived in the middle of January. 🙂
by Monster99
Mon Jan 15, 2024 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Tap Roth account for home downpayment?
Replies: 15
Views: 1541

Re: Tap Roth account for home downpayment?

If you have a large brokerage amount when you go into retirement, you lose the lower brackets for conversations because of dividend and capital gains income.
Keep the Roth for retirement.
by Monster99
Fri Dec 22, 2023 7:56 am
Forum: Personal Investments
Topic: Fidelity 401K. Traditional/Roth contributions. how to Control investment choices for each contribution component?
Replies: 8
Views: 648

Re: Fidelity 401K with Roth 401K intermingled

When my megacorp added the Roth option the allocation for funds was not independent - funds and percentage was for both legs.
It may be controlled by the administration for the 401k or may be some government regulation....
by Monster99
Wed Dec 13, 2023 8:42 am
Forum: Personal Investments
Topic: [Software to track investments?]
Replies: 27
Views: 3682

Re: [Software to track investments?]

I still use Microsoft Money - Sunset edition. I just manually update every few months to track progress. I may convert to Excel at some point as it is very old and will most likely stop working .
by Monster99
Sun Nov 26, 2023 7:56 am
Forum: Personal Finance (Not Investing)
Topic: How Far in Advance to Apply for Social Security
Replies: 56
Views: 11041

Re: How Far in Advance to Apply for Social Security

As an update, my SS application was approved in 10 days.
I received a note to call a specific agent number for a question about a W2 value from 1981... (I barely remember the 80's😏). I asked the agent about spousal benefits for the DW and they said they would need to talk to her, so I handed over the phone and it took less than 5 min. My SS will start in March 2024.
Quite easy!
by Monster99
Sat Nov 25, 2023 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Turbo-Tax Or H&R Block Tax Software... One Better Than The Other?
Replies: 57
Views: 7812

Re: Turbo-Tax Or H&R Block Tax Software... One Better Than The Other?

I think they are mostly equivalent. I find TT to be slightly easier to use and the forum are more extensive so if you have issue you can find answers easier. However, I am using HR Block mostly because at some point in the distant pass, I think Turbo tax did something like limit the number of tax return you can print. At that point I was also not happy with other intuit product so when HR Block had a better offer, I took it. Because it's easier to stay with the same product, I have pretty much look for deals every year. I will probably stick with HR block until they do something bad. +1 I switched to HRB because of the limited print "feature" they tried. My taxes are fairly simple, so they both would work- I go with the best deal...
by Monster99
Fri Nov 03, 2023 8:36 am
Forum: Investing - Theory, News & General
Topic: Can vanguard force transition to brokerage platform?
Replies: 207
Views: 30859

Re: Can vanguard force transition to brokerage platform?

Dodge and Cox is a MF only platform but they are active management and have fees of ~0.5%.
by Monster99
Sat Oct 28, 2023 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: How Far in Advance to Apply for Social Security
Replies: 56
Views: 11041

Re: How Far in Advance to Apply for Social Security

TravelforFun wrote: Fri Oct 27, 2023 6:13 pm
Monster99 wrote: Fri Oct 27, 2023 1:45 pm Can one activate the Spousal benefit online or do you have to appear in person?
DW has started her SS and I plan on starting in the next year or so. She applied online and it was actually quite easy, so I am hoping we can get everything done online....
I did mine completely online.

TravelforFun
Sound good! Thanks for the Info.
by Monster99
Fri Oct 27, 2023 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: How Far in Advance to Apply for Social Security
Replies: 56
Views: 11041

Re: How Far in Advance to Apply for Social Security

Can one activate the Spousal benefit online or do you have to appear in person?
DW has started her SS and I plan on starting in the next year or so. She applied online and it was actually quite easy, so I am hoping we can get everything done online....
by Monster99
Wed Oct 25, 2023 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2023 software offer
Replies: 246
Views: 38100

Re: H&R Block 2023 software offer

Time to load up camelcamelcamel -the Amazon price watch with the 20 to 23 dollar range.... the hunt begins! Last year the best price was at Newegg.
by Monster99
Sun Jun 18, 2023 6:59 pm
Forum: Personal Investments
Topic: How would you invest 500K taxable in fixed income Right Now?
Replies: 24
Views: 3579

Re: How would you invest 500K taxable in fixed income Right Now?

3 to 6 month brokered CD's until interest rates stabilize, then a intermediate term bond fund after that.
by Monster99
Sun May 21, 2023 10:30 am
Forum: Personal Investments
Topic: How are People Taking Advanage of the Historic High Interest Rates?
Replies: 109
Views: 15166

Re: How are People Taking Advanage of the Historic High Interest Rates?

Been putting some fixed income into brokered short term CD's at around 4.9%. I don't know how long the 3-6 month rate will be high, but easy to do online.
I purchased our house in the mid 1980's for the "great" rate of 13.5%🤨
by Monster99
Wed May 10, 2023 9:45 pm
Forum: Personal Investments
Topic: Advice for my first taxable account
Replies: 22
Views: 2735

Re: Advice for my first taxable account

new2bogle2 wrote: Wed May 10, 2023 5:22 am
Monster99 wrote: Tue May 09, 2023 7:28 am ETF funds that thow off very little dividend income would be my suggestion.
would you share a few specific examples?
Total stock market (VTI), SP500 fund(VOO), tax exempt bond (VTEB). Best strategy is to put income and dividend producers in you tax deferred accounts.
by Monster99
Tue May 09, 2023 7:28 am
Forum: Personal Investments
Topic: Advice for my first taxable account
Replies: 22
Views: 2735

Re: Advice for my first taxable account

ETF funds that thow off very little dividend income would be my suggestion.
by Monster99
Fri May 05, 2023 3:07 pm
Forum: Personal Investments
Topic: IRA into VG CD's and more.
Replies: 22
Views: 2633

Re: IRA into VG CD's and more.

Purchased 3 month brokered CD's last week at 4.95% just increase my fixed income back to 65% of total portfolio. I may continue with additional CD's as ~5% is more than my draw and the IRA is getting larger....
by Monster99
Tue Mar 28, 2023 8:30 am
Forum: Investing - Theory, News & General
Topic: How do you reconcile your investment account records?
Replies: 51
Views: 4034

Re: How do you reconcile your investment account records?

MS Money - sunset version.
I am transitioning to Excel to have a replacement when Money no longer works... I do it because I like to keep track and I enjoy numbers... weird I know.
by Monster99
Tue Mar 28, 2023 8:00 am
Forum: Personal Investments
Topic: Need help | Stupidly incurred large tax bill due to Roth conversion
Replies: 34
Views: 4773

Re: Need help | Stupidly incurred large tax bill due to Roth conversion

Be sure to keep an eye on taxes for this year to make sure you hit the safe harbor amount. I always seem to have issues the next year after a large tax bill to hit 90% of tax owed so I don't end up with a penalty....🤔🤔
by Monster99
Tue Mar 21, 2023 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Deluxe TurboTax and my first time dealing with Vanguard Brokerage account?
Replies: 18
Views: 1619

Re: Deluxe TurboTax and my first time dealing with Vanguard Brokerage account?

I use the detailed data that is behind the consolidated 1099 form. I plug in the USGO data for each fund, as the tax program will calculate and then pass the amount on to the state program. H&R Block does percentage and not absolute $'s.... not sure about TT.
by Monster99
Sat Mar 18, 2023 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Best tax software?
Replies: 35
Views: 4467

Re: Best tax software?

I use desktop versions of tax software and enter all data from the PDFs I download myself rather than having the tax software download it. The desktop software is purchased in advance. You can make as many changes as you want before you file. Why do you fill it in yourself vs having the software download it? just curious.... 1. Because it only takes a few minutes in most cases (a few numbers off each form). The exception would be if I had pages and pages of 1099-B stock sales to report (which I don't have) 2. Because I am responsible for filing an accurate return. I'd have to download the PDFs, review them for errors, and check the data anyways to make sure it was accurate. 3. Because I do not want to pay any more tax than I legally owe. I...
by Monster99
Sat Mar 18, 2023 8:42 am
Forum: Personal Finance (Not Investing)
Topic: TY2022 e-file delay (H&R Block)
Replies: 27
Views: 2773

Re: TY2022 e-file delay (H&R Block)

Filed my federal return with Block and it was received and accepted within 10 minutes. Can't file my state because 1 form is STILL not finalized. They say the state will be finalized on March 24.... since I always owe (by design) not really a issue.
by Monster99
Wed Mar 08, 2023 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Deluxe 2022 State estimated payments Bug
Replies: 5
Views: 1060

Re: H&R Block Deluxe 2022 State estimated payments Bug

Are the state forms finalized? The Indiana state forms won't be finalized until March 10, and the estimated tax and penalty forms are not final.
by Monster99
Mon Mar 06, 2023 7:12 am
Forum: Personal Investments
Topic: Just pulled plug on Fast Eddie [Edward Jones]
Replies: 56
Views: 9170

Re: Just pulled plug on Fast Eddie [Edward Jones]

KellyInBaconville wrote: Sun Mar 05, 2023 7:54 pm I wish Baconville was real too 🤣
Yeah, I was naive. Surprised he hasn’t called asking what’s up on the move.
If the move is initiated from the new broker, they know your gone...😁
If you call before you transfer with questions, they try to talk you out of the move.
by Monster99
Sat Feb 25, 2023 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Tax preparation: reporting Federal Obligations with a Consolidated 1099
Replies: 5
Views: 666

Re: Tax preparation: reporting Federal Obligations with a Consolidated 1099

They have made it more tedious in the last few years - previous versions of the consolidated 1099 would have the summary page and then the details would look like a stock 1099 form (with 1a, 1b ect. columns) for each fund. The single column format by date is difficult to work with but I have only 3 or 4 funds that report obligations and foriegn tax so I calculate by hand.
by Monster99
Fri Feb 24, 2023 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Impact of Social Security & Medicare Tax Withholding on Tax Return
Replies: 15
Views: 1439

Re: Impact of Social Security & Medicare Tax Withholding on Tax Return

Indiana doesn't tax SS so the input is used to adjust the amount for state taxes.
by Monster99
Thu Feb 23, 2023 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Dealing with thousands of one dollar bills
Replies: 88
Views: 9493

Re: Dealing with thousands of one dollar bills

For my coinage, I go to the grocery store Coin Star machine and get e-cards for Amazon. The last time I went I noticed that the machine will now take bills along with the change.
by Monster99
Thu Feb 23, 2023 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: I spent how much? on what!?!? (Tracking expenses)
Replies: 69
Views: 6548

Re: I spent how much? on what!?!? (Tracking expenses)

Currently I use MS Money (sunset version) with the preset categories. I am migrating to Excel as I not real sure how much longer MS Money will be compatible with future versions of Windows....
by Monster99
Tue Feb 21, 2023 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Where on state tax? Vanguard Federal Money Mkt
Replies: 10
Views: 1385

Re: Where on state tax? Vanguard Federal Money Mkt

With HR Block, when you input the 1099-DIV you select the checkbox at the very bottom of the input page and then it takes you to the input for the % gov. obligations. If you have a consolidated brokerage statement, you can breakout the individual funds and select the % individually or take out paper and pencil and calculate the total by hand. (I tend to input the funds individually, as I only have to deal with 6 funds).
Vanguard changed the layout of the brokerage 1099 format several years ago and made the breakout of the individual funds more difficult, but not impossible.
by Monster99
Tue Feb 21, 2023 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Consequences of underpaying Medicare IRMMA?
Replies: 15
Views: 1758

Re: Consequences of underpaying Medicare IRMMA?

Stinky wrote: Sun Feb 19, 2023 7:31 pm
goesbumpinthedaytime wrote: Sun Feb 19, 2023 5:20 pm I just signed up for Medicare, and the Medicare website says that my premium is not subject to IRMAA -- but I know it should be (due to a high AGI for many years now). I don't know how to "fix" this. What are the consequences when they eventually wise up? Will I have a large back-payment due? Will there be some "penalty" (beyond the IRMAA payment)?
Same thing happened to me.

You’ll get a letter soon enough, with the proper premium being calculated, and you’ll be assessed back premiums. No penalty, no interest.

Let the process proceed.

The wheels of government turn slowly, but they do turn.
+1 to this. They catch up eventually....
by Monster99
Tue Feb 14, 2023 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: How badly have you missed your tax owed?
Replies: 87
Views: 8860

Re: How badly have you missed your tax owed?

Missed badly this year on the state taxes due to a Roth conversion that got pushed into 2022 that I forgot about..... my fault. Owe 700 to the state!
by Monster99
Sun Jan 29, 2023 7:23 am
Forum: Investing - Theory, News & General
Topic: Vanguard in ??? Monroe, Wisconsin, pop. 11,000, Swiss cheese capital of the world?
Replies: 32
Views: 12110

Re: Vanguard in ??? Monroe, Wisconsin, pop. 11,000, Swiss cheese capital of the world?

Nicolas wrote: Thu Apr 02, 2020 1:44 pm Nice little town, I’ve been there several times. It’s only 19 minutes from the New Glarus Brewing Company (only sold in Wisconsin). :sharebeer
Spotted Cow! Tasty!🍺🍺
by Monster99
Fri Jan 20, 2023 7:53 am
Forum: Investing - Theory, News & General
Topic: [Debt ceiling discussion mega-thread]
Replies: 1286
Views: 128314

Re: [Debt ceiling discussion mega-thread]

If the default actually happens, there will be opportunities for the market timers. I will let the checking account get a little bit larger over the next few months so I can pay my obligations.
by Monster99
Thu Dec 15, 2022 3:55 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads Mostly Employees?
Replies: 79
Views: 7176

Re: Bogleheads Mostly Employees?

Retired.
Former biochemist at a pharmaceutical company.
Basic research, general wet lab chemistry....
by Monster99
Sun Dec 11, 2022 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Paypal sent me a 1099-K [for legal gambling]
Replies: 48
Views: 15586

Re: Paypal sent me a 1099-K [for legal gambling]

criticalmass wrote: Sat Dec 10, 2022 11:56 pm
w30442bob wrote: Thu Jan 27, 2022 12:26 pm [Moved into a new thread from: Paypal sent me a 1099K [for eBay sales] --admin LadyGeek]

PayPal sent me a 1099 K says I made 51.000 or so.
For $51.00 I wouldn't worry about it very much. Even at a high marginal rate, the tax on $51 is a rounding error.
International standard is a period instead of a comma, so actually $51,000.....
by Monster99
Wed Nov 23, 2022 8:40 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2022 software offer
Replies: 281
Views: 33326

Re: H&R Block 2022 software offer

Just ordered from Newegg - $24.06 (with state tax). $1.50 more than last year...😑
by Monster99
Sat Oct 22, 2022 8:34 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2022 software offer
Replies: 281
Views: 33326

Re: H&R Block 2022 software offer

The Newegg website usually runs a Black Friday special on HRB - $20 or so.....
by Monster99
Wed Sep 14, 2022 7:45 am
Forum: Personal Investments
Topic: Selling Mutual Fund Shares with Average Cost Basis
Replies: 39
Views: 3204

Re: Selling Mutual Fund Shares with Average Cost Basis

You can still sell non-covered shares with specific ID, if you have the records to support your choice. You will need to send Vanguard a letter or secure message that says, "Please sell 123.456 shares of the XYZ Fund purchased on 7/1/06 for $20.00 per share." If you are audited, you will have a copy of this letter, and a record of the purchase of those shares to support the basis you are claiming. If you do this, the reported basis on the 1099-B which Vanguard sends you will be incorrect, but that number is not reported to the IRS: you will report the correct basis on Form 8949 when you file your taxes. If you have previously sold shares of this fund with average basis, then all the shares that were averaged already have an avera...
by Monster99
Tue Sep 13, 2022 12:55 pm
Forum: Personal Investments
Topic: Selling Mutual Fund Shares with Average Cost Basis
Replies: 39
Views: 3204

Re: Selling Mutual Fund Shares with Average Cost Basis

I believe your basis would be $75 per share, unless you are somehow allowed to specify which shares are being sold. This was also our understanding, at first. But then, researching this topic in previous Forum threads, I've found other posts that suggest the oldest shares are sold first — even when using the average cost basis. Thus our confusion. As far as I know, once you sell with average cost all shares within that "lot" will be sold as average cost. If you have other lots of the same holding with Spec ID, they can be sold separately. If you have records of your purchases with dates, cost and commissions (if any) you can sell uncovered lots as spec ID with you reporting the basis (like in the old days, pre-2012) as long as yo...
by Monster99
Wed Aug 31, 2022 6:19 pm
Forum: Personal Investments
Topic: Taxes in Taxable Brokerage Account
Replies: 6
Views: 1355

Re: Taxes in Taxable Brokerage Account

You will pay taxes on distributions from the funds - dividends and capital gains that occur during the year. The increase in the value (price per share) is not taxed until sold.
by Monster99
Wed Aug 31, 2022 6:05 pm
Forum: Personal Investments
Topic: Roth transfer from Vanguard to Fidelity: a report
Replies: 38
Views: 5589

Re: Roth transfer from Vanguard to Fidelity: a report

placeholder wrote: Wed Aug 31, 2022 5:35 pm
Eagle33 wrote: Wed Aug 31, 2022 1:47 pm As I understand it, retirement accounts do not have a cost basis - only taxable accounts.
Every custodian that I have a roth with does track the basis and gain/loss and all that even though it's not needed for taxes but it is useful to get a quick history of what you bought and when and how each lot has done at least for etfs.
My Vanguard Roth doesn't have basis associated with the funds.
I do have a Excel sheet with every purchase and fund cost.
by Monster99
Thu Aug 25, 2022 11:40 am
Forum: Investing - Theory, News & General
Topic: Vanguard Brokerage 1099B (DIV, INT, etc) question
Replies: 26
Views: 2041

Re: Vanguard Brokerage 1099B (DIV, INT, etc) question

As stated up thread, the consolidated form has total amounts for dividends and capital gains. Several pages follow with the specifics for each fund. I use the specific data for each fund with the supplemental data to report government obligations for my state taxes.... usually the difference is less than $20 ( yes, I do them both ways..😄)
by Monster99
Fri Aug 12, 2022 7:42 am
Forum: Personal Investments
Topic: How To *Prepare* for Transferring to Vanguard Brokerage Account?
Replies: 19
Views: 2951

Re: How To *Prepare* for Transferring to Vanguard Brokerage Account?

Download your current statement to verify share number and account value. Make a note of cost basis selection (spec ID, average, FIFO) note your bank account routing info. Then convert and verify that the info is correct. I did mine online with no issues.
The only thing I dislike about the brokerage account is you don't get a year end statement in December that shows the total year activity. You can generate a statement using the report generator but is a bit clunky....
by Monster99
Thu Aug 11, 2022 3:49 pm
Forum: Investing - Theory, News & General
Topic: Your Fixed Income Mixture of Bond Funds During Retirement?
Replies: 18
Views: 2529

Re: Your Fixed Income Mixture of Bond Funds During Retirement?

My fixed income is in my former employer 401k stable value fund. Has a reasonable return and is flexible in withdrawal terms.
by Monster99
Mon Aug 08, 2022 3:39 pm
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215540

Re: New fee for Vanguard mutual accounts

And for those on the MF platform, if you are going to switch anyway...why not consider switching to a brokerage with competent and responsive 24/7 customer service (including via chat and secure message), dedicated personal representatives (generally with just $250k), basic investing costs as low as (or lower than) Vanguard, and a wider array of products and services, including banking. Plus, while Fidelity requires a $1 million transfer to pay a bonus, others (such as Schwab) will pay a transfer bonus for much smaller portfolios. :beer Got that dreaded email! I work in the financial industry, so any Brokerage account will have to be reported for compliance reasons for both myself and my wife. We have maintained the MF platform so far with...
by Monster99
Mon Aug 08, 2022 3:28 pm
Forum: Personal Investments
Topic: Moving from Vanguard to Schwab
Replies: 16
Views: 2236

Re: Moving from Vanguard to Schwab

Vanguard MF can be converted to ETF with no tax issues at Vanguard. The only issue is that the have to have both MF and ETF class shares for the fund.