Search found 27 matches

by elgob
Mon Aug 03, 2020 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Trust's final tax return
Replies: 4
Views: 299

Re: Trust's final tax return

Thank you both.

Celia, if you hold money back and pay it to the accountant for tax prep in early 2021, can it still be deducted as an expense on the 2020 returns even though you didn't spend it in 2020?
by elgob
Mon Aug 03, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Trust's final tax return
Replies: 4
Views: 299

Trust's final tax return

An irrevocable trust has terminated because of the death of the lifetime income beneficiary, so all trust assets will be distributed to the remainder beneficiaries this month. Does the trust have to file a short-year tax return for 2020, having been terminated and distributed in August, or can it ju...
by elgob
Wed Apr 29, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: is it possible to TLH too much?
Replies: 12
Views: 1228

Re: is it possible to TLH too much?

Here's an article discussing situations where TLH might not be advisable ...
https://www.whitecoatinvestor.com/9-rea ... s-harvest/
by elgob
Wed Mar 25, 2020 4:53 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

In the above scenario, if the OP also held total stock in another separate IRA that was not touched at all, would it then be a wash sale? Yes, if the OP still held VTSAX in "any" IRA it would be a wash sale. This got a bit lost upthread but I think it’s a good question and I disagree with Duckie. I...
by elgob
Wed Mar 25, 2020 3:19 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

I would like to sell 180k worth of Vanguard Total Stock (VTSAX) in my taxable account and exchange the shares for Vanguard 500 Index in my taxable account. This would result in a 50k loss that I would tax loss harvest Worst case don’t you just wash out the number of shares you had bought on 2/25, w...
by elgob
Wed Mar 25, 2020 3:15 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

Think of it this way: By disposing of any replacement shares — defined as being purchased within the 61-day wash sale period — your "economic position" reverts to what it was prior to the wash sale period. Then, by selling at a loss in taxable, your economic position with respect to that fund does ...
by elgob
Wed Mar 25, 2020 2:16 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

I am still bit confused with the final outcome in this thread. I am in the similar boat and neat to effectuate a TLH. 1) I bought VTSAX in Roth IRA about 1-week ago. I have now exchanged that to VFIAX based on learning from this thread. 2) I also bought VTSAX in my taxable account in last 30-days. ...
by elgob
Wed Mar 25, 2020 1:37 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

One such source I've come to rely on quite a bit for its easy accessibility and apparent authority is the guidance at Fairmark.com, written by a tax attorney. One of several summary pages, here is a page devoted to explaining the concept of "replacement shares," Wash Sales and Replacement Stock . T...
by elgob
Wed Mar 25, 2020 12:28 pm
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

Trying to figure out what authority supports the highlighted point. I don't really see support for it in the language of the Internal Revenue Code (26 U.S. Code § 1091), in the Regs (26 CFR § 1.1091-1 and the following sections), in the Revenue Ruling dealing with IRAs (2008-5), or in IRS Publicati...
by elgob
Wed Mar 25, 2020 11:38 am
Forum: Personal Investments
Topic: Sell all shares in Roth IRA to avoid a wash sale?
Replies: 65
Views: 2328

Re: Sell all shares in Roth IRA to avoid a wash sale?

Assuming it had not yet been 30 days since the OP bought total stock in Roth IRA. Then the OP sells all total stock in IRA for 500 index. Then the next day OP sells total stock in taxable for 500 index. Wouldn't it still be a wash sale because the OP bought total stock in Roth within 30 days of sel...
by elgob
Thu Feb 28, 2019 1:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard is Discontinuing their VanguardAdvantage Accounts
Replies: 631
Views: 69784

Re: Discontinuing VanguardAdvantage Accounts

beyou wrote:
Thu Feb 28, 2019 12:55 pm
I find ACH and wire to/from Vanguard works very well and have no need for Vang Advantage.
How do you do ACH from Vanguard, apart from a VanguardAdvantage account (which uses the TBNY Mellon bank routing and account #)?
by elgob
Mon Oct 08, 2018 4:51 pm
Forum: Investing - Theory, News & General
Topic: Debunking Bonds in Taxable
Replies: 155
Views: 20282

Re: Debunking Bonds in Taxable

For a detailed analysis of this issue, see The Asset Location Decision Revisited, a 2013 article in the Journal of Financial Planning https://www.onefpa.org/journal/Pages/November-2013-The-Asset-Location-Decision-Revisited.aspx It concludes: This study has revealed that the traditional approach to c...
by elgob
Sat Sep 22, 2018 10:29 am
Forum: Personal Investments
Topic: The bond side of my asset allocation ...
Replies: 21
Views: 1279

Re: The bond side of my asset allocation ...

Vanguard's answer to the question is here in this research paper: https://personal.vanguard.com/pdf/ICRIBI.pdf They say, among other things: The ‘principal at maturity’ myth Holding an individual bond to maturity primarily confers an emotional, rather than economic, benefit and tends to be most prac...
by elgob
Mon Sep 10, 2018 11:44 am
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

Delaying SS to 70 is the easy and best thing you can do to hold down these looming taxes simply because of it's significantly lower tax rate. No state tax on it and at least 15% is always untaxed by IRS. Thanks. I hadn't thought of it like that. I always forget to consider the different tax bite on...
by elgob
Mon Sep 10, 2018 11:42 am
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

Roth conversion (perhaps to higher than typical levels) because eventually you will have: SS + pension + RMDs. Thanks. Definitely looking at Roth conversions. An aspect of that I'm not sure how to factor in is that all our IRA beneficiaries are tax-exempt charities. So, to whatever extent conversio...
by elgob
Mon Sep 10, 2018 11:38 am
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

Everything looks good to me, your asset allocation is a bit aggressive but you have plenty of income and assets so there is no problem (you should still be fine even with a major correction). Thank you. I've been contemplating whether AA is maybe too aggressive at this point. We've always been in t...
by elgob
Sun Sep 09, 2018 9:45 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

am wrote:
Sun Sep 09, 2018 9:39 pm
Typical boglehead post however where either your bragging or insecure.
The latter.
by elgob
Sun Sep 09, 2018 9:41 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

delamer wrote:
Sun Sep 09, 2018 9:36 pm
While I can understand anyone wanting to minimize taxes, I don’t understand why you’d be concerned about sleep-at-night strategies or Social Security claiming timing. The biggest issue is whether you pay taxes now or later on your tax-deferred accounts.
Thanks, I think that's right.
by elgob
Sun Sep 09, 2018 9:11 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

Your expenses appear quite low, and with no debt, you should have no financial stress whatever happens with the markets. Your portfolio is significantly weighted toward domestic equities, and now may be a good time to raise the foreign stock allocation. International stocks have not had good recent...
by elgob
Sun Sep 09, 2018 8:34 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

MathIsMyWayr wrote:
Sun Sep 09, 2018 8:28 pm
Managing future tax may be a major consideration.
Yes, very much a concern.
by elgob
Sun Sep 09, 2018 8:11 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

delamer wrote:
Sun Sep 09, 2018 7:18 pm
So you aren’t drawing anything from your portfolio now to cover your expenses, other than the dividends/interest from taxable?
Drawing some amounts from taxable bond funds as needed; not large amounts, because we have the pension and dividends.
by elgob
Sun Sep 09, 2018 8:08 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

Re: General check-up on retirement financial status

Only suggestion is you consider giving away some of your wealth before you both pass so you can see the good that comes from your generosity. Thank you, yes, have done some of that and probably will do more as we get older. At our current ages, I guess I'm focused a lot on the contingency scenarios...
by elgob
Sun Sep 09, 2018 7:07 pm
Forum: Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1814

General check-up on retirement financial status

Hi, I would greatly appreciate any input regarding the following, whether portfolio advice, AA, SS, tax strategies, sleep-at-night strategies, or anything else that comes to mind! Many thanks. H is 64, W is 67, both retired, both in reasonably good health; no children. Neither is taking SS benefits ...
by elgob
Sat Jun 16, 2018 12:41 pm
Forum: Personal Investments
Topic: Roth conversion advice - charitable beneficiaries
Replies: 6
Views: 670

Re: Roth conversion advice - charitable beneficiaries

Thanks everyone ... pondering all this!
by elgob
Fri Jun 15, 2018 10:24 pm
Forum: Personal Investments
Topic: Roth conversion advice - charitable beneficiaries
Replies: 6
Views: 670

Re: Roth conversion advice - charitable beneficiaries

House Blend, thanks very much. 1. Yes ... and a related decision is when to have W start SS. Hers is smaller. 2. If I understand you correctly, you're saying that if, later on, our spending needs exceed SS + RMDs, such that additional IRA withdrawals become necessary, take from Roth. Right? 3. No ch...
by elgob
Fri Jun 15, 2018 2:59 pm
Forum: Personal Investments
Topic: Roth conversion advice - charitable beneficiaries
Replies: 6
Views: 670

Roth conversion advice - charitable beneficiaries

I'm 64, wife is 67, both retired, both in reasonably good health, neither have started SS. Current taxable income is from investment earnings and her pension, and we're in a very low tax bracket right now. But we both have significant size tIRAs, so will face taxy RMDs when the time comes. My best g...