Search found 285 matches

by increment
Tue May 26, 2020 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Investors: be aware of weakness in 2FA + strengthening
Replies: 153
Views: 8391

Re: Investors: be aware of weakness in 2FA + strengthening

Thanks for presenting the distinction; I was referring to Yubikey which I believe is U2F. That’s what I use for Vanguard, and for my 2FA for Google voice, which is the 2FA backup number for Vanguard. Some older Yubikeys don't do U2F. But you can't use this older hardware with Vanguard (and almost c...
by increment
Sun May 24, 2020 12:48 am
Forum: Personal Finance (Not Investing)
Topic: Investors: be aware of weakness in 2FA + strengthening
Replies: 153
Views: 8391

Re: Investors: be aware of weakness in 2FA + strengthening

Can anyone provide any feedback regarding the method for adding Yubikey to accounts at these companies and how it has worked for you. As far as I know, neither Schwab nor Fidelity allows use of the U2F functionality of the Yubikey. At Vanguard, use of the Yubikey is a convenience, if you don't like...
by increment
Sat May 23, 2020 8:34 am
Forum: Investing - Theory, News & General
Topic: TIAA warns on negative yields on money market funds
Replies: 71
Views: 4781

Re: TIAA warns on negative yields on money market funds

The linked FAQ (PDF) warns in addition, "Fees waived on the Account will be subject to possible recovery by TIAA after the waiver expires on December 31, 2020. Recoupment will occur when short-term interest rate levels produce a daily positive yield on a class of the Account"!!
by increment
Sat May 23, 2020 8:27 am
Forum: Personal Investments
Topic: Choice between two Vanguard funds for short term money
Replies: 12
Views: 1195

Re: Choice between two Vanguard funds for short term money

How can VMFXX be at least 80% invested in "securities issued by the US government and its agencies and instrumentalities," yet, "most of the securities held by the fund are neither guaranteed by the US Treasury nor supported by the full faith and credit of the US Government?" Those statements seem ...
by increment
Tue May 19, 2020 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trusts, k1s, and state taxes
Replies: 9
Views: 357

Re: Trusts, k1s, and state taxes

Winnie wrote:
Tue May 19, 2020 1:23 pm
Do we file and pay taxes in our home state or the state of the trusts, hopefully not both?
Years ago as a young adult who received K1s from a testamentary trust, I had to file (and pay) income taxes in both states.
by increment
Wed May 13, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: [Why is this a Wash Sale?]
Replies: 2
Views: 224

Re: [Why is this a Wash Sale?]

I bought 20,000 shares of APA over the course of 2 weeks for an average total of $11.22 per share. Then sold all 20,000 @ $12.22. My way of thinking I profited $20,000.00. Then I bought another 20,000 shares of APA at an average price of $12.00 per share. Yet my account (TD Ameritrade) Tells me tha...
by increment
Fri Apr 24, 2020 6:59 pm
Forum: Personal Investments
Topic: Any reason to keep Vanguard Federal Money Market Fund?
Replies: 16
Views: 2582

Re: Any reason to keep Vanguard Federal Money Market Fund?

mindboggling wrote:
Sun Apr 19, 2020 7:25 pm
Keep in mind that dividends from the federal MMF are exempt from state income tax.
Partially exempt.
by increment
Fri Apr 17, 2020 2:09 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Treasury Only MM Fund now closed
Replies: 7
Views: 1243

Re: Fidelity Treasury Only MM Fund now closed

FZFXX is the Fidelity Treasury Money Market Fund. It's my default MM fund at Fidelity. I looked at the holdings at the time and it seemed very similar to the now closed fund. Well, at the end of last month it was two-thirds repos , unlike FDLXX which is (more than) entirely made up of Treasuries. (...
by increment
Tue Apr 07, 2020 2:27 pm
Forum: Personal Investments
Topic: Cost Basis post spin-out
Replies: 6
Views: 664

Re: Cost Basis post spin-out

I own some shares in united technologies which recently spun out carrier and otis as separate companies so I now own shares of carrier and otis but I do not have a cost basis listed for these shares. Would the cost basis be the same as the cost basis for the united technologies shares or something ...
by increment
Mon Apr 06, 2020 2:28 pm
Forum: Investing - Theory, News & General
Topic: Brokerage Account Setup for Maximum Step-Up Basis Upon Death
Replies: 13
Views: 491

Re: Brokerage Account Setup for Maximum Step-Up Basis Upon Death

Try to move to community law state in retirement that will automatically allow 100% step up basis upon death. I believe that property acquired while you live in a non-community property state does not turn into community property if you move to a community-property state. (And similarly, community ...
by increment
Wed Apr 01, 2020 1:28 pm
Forum: Investing - Theory, News & General
Topic: Fidelity shuts 3 (Treasury) MM Funds to New Investors
Replies: 91
Views: 6975

Re: Fidelity shuts 3 (Treasury) MM Funds to New Investors

ResearchMed wrote:
Wed Apr 01, 2020 1:20 pm
Does Schwab have a "Treasury" MM fund?
Yes, there is SNSXX as listed at Schwab.
by increment
Sat Mar 28, 2020 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Best cashback credit card - NOT Citi Double as I want to cancel that card
Replies: 24
Views: 1933

Re: Best cashback credit card - NOT Citi Double as I want to cancel that card

muffins14 wrote:
Sat Mar 28, 2020 9:19 am
Could you still receive a paper statement while also setting up autopay?
Yeah, my father's card (a "Citi Thankyou Preferred", which now I keep an eye on) has been set up that way for years.
by increment
Mon Mar 16, 2020 2:29 pm
Forum: Personal Investments
Topic: Safety of Money Market Funds Currently
Replies: 149
Views: 11896

Re: Safety of Money Market Funds Currently

Does someone know if TFDXX is just as safe as VUSXX? If it's correct that " [t]he fund invests at least 99.5% of its total assets in cash, U.S. Treasury bills, notes and other obligations issued or guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities, an...
by increment
Mon Mar 16, 2020 1:21 pm
Forum: Personal Investments
Topic: Have ~ $90K in VMFXX fund, Should i move them to safer account?
Replies: 16
Views: 1165

Re: Have ~ $90K in VMFXX fund, Should i move them to safer account?

Will I pay tax on earnings from this VMFXX account? if yes, will it be taxed as long term capital gains? You will pay tax on the regularly issued dividends, as you are supposed to all along, but that has nothing to do with when you decide to sell. There is no capital gain, because by design the sha...
by increment
Mon Mar 16, 2020 10:36 am
Forum: Personal Investments
Topic: Safety of Money Market Funds Currently
Replies: 149
Views: 11896

Re: Safety of Money Market Funds Currently

I read the prospectus of Vanguard treasury money market fund, and although it does invest in treasuries, it clearly states it is not FDIC insured. How is it safer than any other MM fund with that statement ? "FDIC" means in effect that your account is backed by a federal program. A Treasury is a lo...
by increment
Sat Mar 14, 2020 11:30 am
Forum: Personal Investments
Topic: Safety of Vanguard Federal Money Market Fund (VMFXX)
Replies: 20
Views: 1188

Re: How safe is Vanguard Federal MM fund (VMFXX) during these times?

I shot from the hip saying VUSXX is all T-bill, sorry. It often is I believe. But the prospectus only requires 80% to be. For example last year ~98% of the interest on VUSXX was state tax free, year before IIRC it was 100%. Those 'govt obligations' (agency Discount Notes etc) are the part that's no...
by increment
Sat Mar 14, 2020 10:01 am
Forum: Personal Investments
Topic: Safety of Vanguard Federal Money Market Fund (VMFXX)
Replies: 20
Views: 1188

Re: How safe is Vanguard Federal MM fund (VMFXX) during these times?

CULater wrote:
Sat Mar 14, 2020 9:11 am
Also, what the heck are U.S. Govt obligations?
In the Annual and Semi-Annual Reports Vanguard lists the holdings (as of some date months ago). They seem to mean loans to Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
by increment
Thu Mar 12, 2020 10:22 pm
Forum: Investing - Theory, News & General
Topic: How is this pandemic different than 2008?
Replies: 137
Views: 7430

Re: How is this pandemic different than 2008?

I think we need to get far beyond that to call this a disaster, 500,000? If 1% of people who get it die, then there would be that many deaths in the US if 15% of Americans get it. Reportedly that is not implausible. This week Angela Merkel told Germans (and the rest of the world) that eventually th...
by increment
Thu Mar 12, 2020 6:00 pm
Forum: Personal Investments
Topic: Wash sale? How to account for it...
Replies: 1
Views: 118

Re: Wash sale? How to account for it...

I sold a stock at 52 two weeks ago. I bought it years ago for 54, so I had a $2/share loss. I bought Treasuries. Today it is at 29 and seems rather more attractive than it did 2 weeks ago. If I bought it again, presumably it would be a wash transaction and could not claim my loss this year. But I d...
by increment
Wed Mar 11, 2020 11:14 am
Forum: Personal Investments
Topic: I Messed Up - Question on Wash Sale Rules
Replies: 3
Views: 264

Re: I Messed Up - Question on Wash Sale Rules

I have a big capital loss in an energy position. I purchased 10,000 shares about 7 months ago I sold 6,500 shares through beginning of February at a small loss So as of that point I had 3,500 shares and the share prices plummeted over the last few weeks I sold 1,100 shares on 2/24 to TLH I then wen...
by increment
Tue Mar 10, 2020 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Parent has ALS; Need Financial & General Advice
Replies: 68
Views: 2830

Re: Parent has ALS; Need Financial & General Advice

... I am also a trustee - meaning it only takes my signature to do anything - while she's alive and after she's gone. I was advised that for matters of real estate, title companies would probably want the signatures of all trustees. (So we had my father resign as trustee before he became too incapa...
by increment
Mon Mar 09, 2020 9:19 am
Forum: Personal Investments
Topic: Fidelity SPAXX Safety
Replies: 9
Views: 921

Re: Fidelity SPAXX Safety

SPAXX (Fidelity Government Money Market Fund) is mostly debt from government-sponsored entities like the Federal Home Loan Banks, plus many loans to huge financial institutions that put up Treasuries or debt from government-sponsored entities as collateral.
by increment
Sun Mar 08, 2020 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Form 5498 for HSA from Fidelity not ready until May
Replies: 4
Views: 377

Re: Form 5498 for HSA from Fidelity not ready until May

Fidelity is showing form 5498-SA for my HSA won't be available until May 6. How can this be with tax day being weeks earlier? I assume I need this form to give to my tax preparer. This is normal. You do not need to send 5498-SA to the IRS. It is pretty much an FYI note, and Fidelity can't know yet ...
by increment
Sun Mar 08, 2020 9:20 pm
Forum: Personal Consumer Issues
Topic: Improving online security
Replies: 69
Views: 4154

Re: Improving online security

oldfort wrote:
Sun Mar 08, 2020 9:00 pm
Giving random data for password recovery can create as many problems as it solves.
You should not need password recovery if you use a password manager religiously. But if you are required to have it, you should store that random data in your password manager.
by increment
Sun Mar 08, 2020 3:33 pm
Forum: Personal Consumer Issues
Topic: Improving online security
Replies: 69
Views: 4154

Re: Improving online security

Most of this post is massive, massive overkill, and it's replete with tech jargon and abbreviations that many users may not understand. I think it is irresponsible to post this in a manner that suggests that people need to do a lot of this to stay safe online. It's fear-mongering and it just isn't ...
by increment
Sun Mar 08, 2020 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Is tax owed if I sell a gift?
Replies: 24
Views: 1625

Re: Is tax owed if I sell a gift?

So what if the donor paid 10,000 for that car ? Then, according to IRS Publication 551 Basis of Assets, "Your basis for figuring loss is its [fair-market value] when you received the gift plus or minus any required adjustment to basis while you held the property." (But seriously, how can a car be w...
by increment
Sun Mar 08, 2020 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is tax owed if I sell a gift?
Replies: 24
Views: 1625

Re: Is tax owed if I sell a gift?

vtMaps wrote:
Sun Mar 08, 2020 12:54 pm
You would have a $500 loss if you sell a $5,000 car for $4,500.
If it's for personal use, you can't claim a loss for tax purposes.
by increment
Sun Mar 08, 2020 9:35 am
Forum: Personal Consumer Issues
Topic: Reimbursement after meeting annual gift maximum
Replies: 13
Views: 818

Re: Reimbursement after meeting annual gift maximum

And how long has the exemption level been set at a mark that is so high 99.99% of folks will never deal with it? Was the limit ever so low that people did indeed shell out tax money constantly? According to Figure D in The Estate Tax: Ninety Years and Counting on the IRS web site, 25 years ago the ...
by increment
Sat Mar 07, 2020 10:42 pm
Forum: Personal Investments
Topic: Beneficiary
Replies: 17
Views: 919

Re: Beneficiary

CAsage wrote:
Sat Mar 07, 2020 10:37 pm
Inheritance tax hits at a pretty high number these days (11 mil?)
Some states have estate or inheritance taxes (starting at much lower amounts). By the way, estate taxes are paid by the estate; inheritance taxes are paid by the recipient.
by increment
Sat Mar 07, 2020 6:30 pm
Forum: Personal Consumer Issues
Topic: Improving online security
Replies: 69
Views: 4154

Re: Improving online security

gwe67 wrote:
Sat Mar 07, 2020 6:16 pm
I don't think "entropy" is the correct term.
As you may find at Wikipedia, "In computing, entropy is the randomness collected by an operating system or application for use in cryptography or other uses that require random data."
by increment
Sat Mar 07, 2020 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Title co. wants Trust probated in CA
Replies: 14
Views: 690

Re: Title co. wants Trust probated in CA

Does the company for some reason think that you became Trustee after the original grantor's death? (That was what a California title company once assumed when I wanted to sell my father's trust's property, and I had to correct them.) Otherwise I don't understand why "probate" in the usual sense is r...
by increment
Fri Mar 06, 2020 11:43 pm
Forum: Personal Finance (Not Investing)
Topic: Filing tax returns for others who can't review
Replies: 16
Views: 1070

Re: Filing tax returns for others who can't review

@Jack, I believe CPAs have you sign so you can't complain that they did something wrong. The instructions for Form 2848 "Power of Attorney and Declaration of Representative" seem quite definitive that you cannot delegate the responsibility of signing (by ink or by electrons) except in specific situ...
by increment
Fri Mar 06, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Filing tax returns for others who can't review
Replies: 16
Views: 1070

Re: Filing tax returns for others who can't review

IRS Publication 17 says: When someone can sign for you. You can appoint an agent to sign your return if you are: Unable to sign the return because of disease or injury, Absent from the United States for a continuous period of at least 60 days before the due date for filing your return, or Given perm...
by increment
Wed Mar 04, 2020 9:04 pm
Forum: Personal Investments
Topic: Cost basis question
Replies: 6
Views: 496

Re: Cost basis question

You can report all the shares up to 2011 ("uncovered") together as one entry, putting "various" in the column for acquisition date. Then you just enter the basis that you have summed up (no division necessary). Similarly for all the shares since 2012 ("covered"), except that your broker is supposed ...
by increment
Tue Mar 03, 2020 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Frequent purchases prevents tax loss harvesting?
Replies: 9
Views: 467

Re: Frequent purchases prevents tax loss harvesting?

Please see IRS Publication 550 : A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you: 1. Buy substantially identical stock or securities, 2. Acquire substantially identical stock or securities in a fully taxable trade, 3. Acquire a ...
by increment
Tue Mar 03, 2020 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Frequent purchases prevents tax loss harvesting?
Replies: 9
Views: 467

Re: Frequent purchases prevents tax loss harvesting?

I thought we are saying the same thing? First, the effect of selling 35 shares is not completely washed away by the purchase of 8.5 shares. Second, it is now March. If you sell the February lot today, the effect of your sale can't be washed away by those earlier purchases because they took place mo...
by increment
Tue Mar 03, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Frequent purchases prevents tax loss harvesting?
Replies: 9
Views: 467

Re: Frequent purchases prevents tax loss harvesting?

2/4/20: Bought $2k = 35 shares 1/24/20: Bought $500 = 8.5 shares 12/27/19: Bought $1,800 = 31 shares If I sold the 2/4 shares and bought something sufficiently different e.g. a mid cap fund, the fact that I bought the same fund I'm selling only 11 days earlier would make it a wash sale, correct? No...
by increment
Tue Mar 03, 2020 2:21 am
Forum: Personal Finance (Not Investing)
Topic: Tax Return: Paying Tax Online/Electronically
Replies: 5
Views: 586

Re: Tax Return: Paying Tax Online/Electronically

The 1040 instructions (which you could read in conjunction with filling out your paper return) has an entire section about paying. The first option they mention is an online payment! The later section about paying by check starts, "Before submitting a payment through the mail, please consider altern...
by increment
Sat Feb 29, 2020 12:55 pm
Forum: Personal Investments
Topic: Confused if this would be a wash sale
Replies: 4
Views: 271

Re: Confused if this would be a wash sale

Feb 10: Receive company stock lot 1 March 1: Receive company stock lot 2 March 2: blackout dates for selling vested shares are lifted Does it matter if lot 2 value goes up or down before I sell it? No. If I sell shares from all lots on March 2, will I have any wash sales? Lot 1 was purchased within...
by increment
Fri Feb 28, 2020 1:24 am
Forum: Personal Investments
Topic: Gifting shares to individuals
Replies: 10
Views: 628

Re: Gifting shares to individuals

If $30k was gifted with an original purchase price of $20,500 what capital gains would they incur? Their annual income is $70k. Would they be taxed at the long term rate since the original basis exceeds 12 months or would it be considered short term since their ownership will be a few days? They ac...
by increment
Wed Feb 26, 2020 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Investment Gains offset by Primary residence losses
Replies: 9
Views: 614

Re: Investment Gains offset by Primary residence losses

additionally why would the IRS allow you to exclude a gain from primary real estate but not give any benefit for those that realize a loss? (The IRS follows the laws that Congress writes.) You don't get any tax benefit from realizing a loss on your car trade-in, or on household goods that you sell ...
by increment
Tue Feb 25, 2020 8:27 pm
Forum: Personal Investments
Topic: Roth IRA for 70 year old? - Retired
Replies: 13
Views: 1125

Re: Roth IRA for 70 year old? - Retired

Most of my research has uncovered that whatever money is in a Roth would be passed on to me tax free when that time comes. However, since her estate most likely wouldn't approach the 5.4 million limit that wouldn't really be a concern. Am I missing anything here? (A minor and probably unhelpful poi...
by increment
Tue Feb 25, 2020 4:58 pm
Forum: Investing - Theory, News & General
Topic: HSA investing for short term?
Replies: 12
Views: 804

Re: HSA investing for short term?

jeffyscott wrote:
Tue Feb 25, 2020 9:13 am
increment wrote:
Mon Feb 24, 2020 1:47 pm
Things are even easier if you can change the "CORE" holding in the account to a money-market fund.
They do not allow that in HSA accounts.
Mine offers FDRXX (not any other money-market funds). I was surprised that it does.
by increment
Tue Feb 25, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Deduction Recapture
Replies: 17
Views: 966

Re: 529 Deduction Recapture

I think it isn't income. I'm not withdraw[]ing it, I'm rolling it over. It's an adjustment to income and it gets listed on an attachment. To be required to file, one must a) be required to file a federal return AND b) be a resident or have income based in the state. The fine print for the New York ...
by increment
Mon Feb 24, 2020 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Catch 22 with Gold Medallion Requirement for Exercising POA for Father
Replies: 56
Views: 3709

Re: Catch 22 with Gold Medallion Requirement for Exercising POA for Father

JaneyLH wrote:
Mon Feb 24, 2020 5:31 pm
We don't want to keep the account at DWS, we want to move it to Vanguard where all our other accounts, including one of FIL's, reside.
Maybe you can move it to Wells (or anywhere else that will provide you with the medallion thing), and then transfer to Vanguard a few weeks later.
by increment
Mon Feb 24, 2020 1:47 pm
Forum: Investing - Theory, News & General
Topic: HSA investing for short term?
Replies: 12
Views: 804

Re: HSA investing for short term?

Maybe you can buy one of Fidelity's money-market funds. But remember to sell before you actually try to pull the money out. Things are even easier if you can change the "CORE" holding in the account to a money-market fund. (I have FDRXX, currently paying about 1.3% annualized.) In that case you won'...
by increment
Mon Feb 24, 2020 1:59 am
Forum: Personal Finance (Not Investing)
Topic: Catch 22 with Gold Medallion Requirement for Exercising POA for Father
Replies: 56
Views: 3709

Re: Catch 22 with Gold Medallion Requirement for Exercising POA for Father

You said that Wells "will provide medallion guarantees for certain transactions". Would they provide one if you move the IRA to Wells (perhaps WellsTrade)? (Why you would want to keep the account at DWS if they won't modify their policies and you don't want to pursue legal action to force them?)
by increment
Sun Feb 23, 2020 4:24 pm
Forum: Personal Investments
Topic: Capital Gains vs Converting High ER to Index Fund
Replies: 11
Views: 953

Re: Capital Gains vs Converting High ER to Index Fund

If I put $50K cash into a DAF ... If I put $50K from a MF (with unrealized gains of 25%, or $12.5K) ... Regarding reporting I presume that deduction is only taken in year #1, not in years 2-10 when the charity sends me an acknowledgment for the actual contribution? Yes. From the tax point of view, ...
by increment
Sun Feb 23, 2020 3:14 pm
Forum: Personal Investments
Topic: Question about inherited stocks..
Replies: 7
Views: 476

Re: Question about inherited stocks..

A useful reference is IRS Publication 551 "Basis of Assets," especially the section "Inherited Property."
by increment
Sat Feb 22, 2020 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Catch 22 with Gold Medallion Requirement for Exercising POA for Father
Replies: 56
Views: 3709

Re: Catch 22 with Gold Medallion Requirement for Exercising POA for Father

From their FAQ it sounds like DWS wants the agent to obtain a medallion guarantee each time the agent requests DWS to take some action (perhaps unless the actual owner has submitted DWS's own Durable POA paperwork). This may be another reason to try to transfer the account to another, more amenable ...