Search found 195 matches

by the way
Wed May 27, 2020 3:47 pm
Forum: Personal Investments
Topic: If husband can do T-IRA, but acct says Roth, then...
Replies: 25
Views: 931

Re: If husband can do T-IRA, but acct says Roth, then...

Thank you for your succinct last statement. But I guess I'm still at a loss as to why paying at 22% now (with my husband contributing to his Roth) is better than him doing a T-IRA now and then we pay 12-15% on the Roth conversion later (when we're not actively working)? We aim to live off of betwee...
by the way
Wed May 27, 2020 3:01 pm
Forum: Personal Investments
Topic: Betterment liquidated my investments without my authorization
Replies: 36
Views: 2210

Re: Betterment liquidated my investments without my authorization

This is a good heads-up for others. Thank you for posting. Unfortunately, I don't think you have any recourse https://www.betterment.com/resources/how-to-withdraw/#8 For IRA to IRA transfers, we’ll use the direct transfer process and send a check, to avoid any tax consequence for you. At this time, ...
by the way
Wed May 27, 2020 2:03 pm
Forum: Personal Investments
Topic: If husband can do T-IRA, but acct says Roth, then...
Replies: 25
Views: 931

Re: If husband can do T-IRA, but acct says Roth, then...

We file jointly. My husband doesn't have a 401k at work. He will have a solo 401k though. I make $127k, so not enough for a backdoor, but also too much for a T-IRA (looks like $124+ = no deductions). I have a 401k at work. Jointly we make less than $196k = A full deduction (IF a solo 401k doesn't c...
by the way
Mon May 25, 2020 11:48 am
Forum: Personal Investments
Topic: Tax-wise, might short-term gains be better than long-term? (in this case)
Replies: 15
Views: 901

Re: Tax-wise, might short-term gains be better than long-term? (in this case)

if these are all the shares you hold and it's a mutual fund, you can check out this post for an option C https://www.bogleheads.org/forum/viewtopic.php?f=1&t=299033&p=4922607#p4922607 another idea is to find TLH of 20k somewhere Thanks for the clever suggestion, but these are not all of the shares ...
by the way
Mon May 25, 2020 12:04 am
Forum: Personal Investments
Topic: Tax-wise, might short-term gains be better than long-term? (in this case)
Replies: 15
Views: 901

Re: Tax-wise, might short-term gains be better than long-term? (in this case)

Suppose that I need to sell $100,000 worth of shares in a stock fund in a taxable account. • 22% federal marginal tax rate • 15% federal long-term capital gains rate • 9.3% California marginal tax rate (no LTCG rate) Option A Sell old lots with long-term gains and basis of $50,000. Tax = $50,000 (l...
by the way
Sun May 17, 2020 9:25 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2119
Views: 372777

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Thanks kxl19, I emailed my local branch and they said no dice. Can't visit the brand of course right now. Was there something you had asked for, or did you say you'd leave E*TRADE? What was your leverage? No leverage - just asked. This was in February though before the meltdown, so things may have ...
by the way
Sun May 17, 2020 8:59 pm
Forum: Investing - Theory, News & General
Topic: Dividend vs Total Return question
Replies: 66
Views: 2737

Re: Dividend vs Total Return question

One question and I do not want to start the usual back and forth about this. Please clearly explain this one thing that bothers me to no end. You have 100,000 to invest. I have 100,000 to invest. You invest it in the total mkt and take out 300 dollars per month selling shares. I invest it in a qual...
by the way
Mon May 11, 2020 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing not to correct all billing/financial errors
Replies: 68
Views: 4589

Re: Choosing not to correct all billing/financial errors

check out the book "Don't Sweat the Small Stuff (and it's all small stuff)"
by the way
Sun May 10, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Quitting a job after two weeks: relocation expenses
Replies: 196
Views: 17342

Re: Quitting a job after two weeks: relocation expenses

What's strange is that OP goes from being burned out of programming just a few months ago into accepting this job. I have a feeling in a few months we'll find out he has pulled thru and is doing fine, and this thread was just a fantasy/pressure release valve for him (speaking from experience). But e...
by the way
Fri May 08, 2020 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Weird and Obscure ACA Subsidy Related Tax Question...Help!
Replies: 20
Views: 1205

Re: Weird and Obscure ACA Subsidy Related Tax Question...Help!

It appears that my best option will be to itemize my 2020 deductions including my medical expenses. A significant portion of those itemized expenses will be our health insurance premiums including my wife's. If I wait to reimburse the subsidies when filing my 2020 taxes in 2021 I don't think I coul...
by the way
Wed May 06, 2020 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Deceased received economic impact check
Replies: 25
Views: 1496

Re: Deceased received economic impact check

My Father passed in 2018. The estate is still open. I received an economic impact check today payable to: “Fathers name, deceased, my Name”. I am the executor. What do you make of this? This is what the IRS website says https://www.irs.gov/coronavirus/economic-impact-payment-information-center#more...
by the way
Mon May 04, 2020 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax / penalty for cashing out inherited Ira?
Replies: 13
Views: 1128

Re: 40% tax / penalty for cashing out inherited Ira?

I think only if it was inherited from a spouse and rolled over into their own IRA and they are under 59.5, then a 10% penalty could apply.

If they qualify under the CARES act, they might be able to split the withdrawal income of 100k over 3 years and maybe stay in a lower bracket.
by the way
Fri May 01, 2020 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mistake on daughter’s 2018 tax return/stimulus money
Replies: 10
Views: 831

Re: Mistake on daughter’s 2018 tax return/stimulus money

I was counting on this, but then she got the letter, and I called the number—a recorded line, no help. An amended 2018 return doesn’t help, either, as the unchecked box is not part of the amended return. Depends on what her status is this year. If she cannot be declared as your dependent for 2020, ...
by the way
Mon Apr 27, 2020 5:15 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting flowchart
Replies: 62
Views: 3326

Re: Tax Loss Harvesting flowchart

What’s the advantage of turning off auto reinvestment of dividends if you can just sell the reinvested dividend? If the dividends are in a taxable account, all you avoid is a little hassle, with either having to do the transaction over a couple of days or potentially having a temporary wash sale. I...
by the way
Mon Apr 27, 2020 12:58 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting flowchart
Replies: 62
Views: 3326

Re: Tax Loss Harvesting flowchart

Losses in a traditional IRA do have a tax benefit. Do you see what that tax benefit is? This is another ambiguous statement that will lead to confusion. Wash sales in TIRAs are unrecoverable. TLH in a TIRA produces no benefit. And if you are saying losing money, ie having a lower TIRA balance, is b...
by the way
Mon Apr 27, 2020 12:04 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting flowchart
Replies: 62
Views: 3326

Re: Tax Loss Harvesting flowchart

Maybe iceport will step in here and also offer a complete adequate stand-alone explanation that satisfactorily clarifies the issue that everyone can link to in the future. Thanks! It might be more helpful if you just posted a link to the wiki https://www.bogleheads.org/wiki/Wash_sale or Fairmark ar...
by the way
Sun Apr 26, 2020 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Do 529s, UMTAs and HSAs Cause Wash Sales
Replies: 28
Views: 1385

Re: Do 529s, UMTAs and HSAs Cause Wash Sales

yep, after reading those articles, you know at least as much as I do now. I think beyond that, it's a personal judgement since as is often mentioned on BH, there's not a lot of official guidance. I personally take a much more conservative view and would say OP's 1-4 are ALL wash sales (assuming mino...
by the way
Sun Apr 26, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do 529s, UMTAs and HSAs Cause Wash Sales
Replies: 28
Views: 1385

Re: Do 529s, UMTAs and HSAs Cause Wash Sales

You should try out google. IRS Pub550 has some details and examples starting on page 48 "Related Party Transactions". It actually sounds much more onerous than regular wash sales in that there's no 30-day limit, it covers a lot of related parties and indirect sales (essentially step transactions), ...
by the way
Sun Apr 26, 2020 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Do 529s, UMTAs and HSAs Cause Wash Sales
Replies: 28
Views: 1385

Re: Do 529s, UMTAs and HSAs Cause Wash Sales

Did you not read the first sentence in my reply. Section 267 has been expressly incorporated into wash sale rules. I seriously doubt that I have to worry about what my mom or sisters are buying in their accounts to avoid wash sales. I was purely providing the reference you asked for why a child's a...
by the way
Sat Apr 25, 2020 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Do 529s, UMTAs and HSAs Cause Wash Sales
Replies: 28
Views: 1385

Re: Do 529s, UMTAs and HSAs Cause Wash Sales

I am about attempt my first try at tax loss harvesting. I have read about wash sales and understand the causes for the most part. But, have not found much information on if 1. HSA's, 2. 529 accounts, 3. a child's UMTA, 4. or a child's Roth IRA containing the same funds I want to harvest in my taxab...
by the way
Fri Apr 24, 2020 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit (AOTC) for student
Replies: 7
Views: 442

Re: American Opportunity Tax Credit (AOTC) for student

............................................................................... But I have also read sources online that make it sound like I should start with my $2,500 education tax credit, subtract my $1,260 in taxes owed, and then take 40% of the remaining $1,240 as a ~$500 addition to my refun...
by the way
Thu Apr 23, 2020 2:34 pm
Forum: Personal Investments
Topic: All the upside of the S&P with 10% downside protection "Free"?
Replies: 116
Views: 7849

Re: All the upside of the S&P with 10% downside protection "Free"?

Chase PC tried to sell me the same thing. I was instantly intrigued. After talking about 10 mins I asked "what about dividends?" The guy then kind of sighed and said, "right, you don't get the divs." I said if divs are 2% for 6 years that more than covers the 10% protection doesn't it? He said yes, ...
by the way
Thu Apr 23, 2020 1:56 pm
Forum: Personal Investments
Topic: Does anyone sell puts in order to force re-balancing and collect premiums?
Replies: 34
Views: 1688

Re: Does anyone sell puts in order to force re-balancing and collect premiums?

So you would simply sell put options on TSM at 12.8% below market in the amount that where if you were forced to take the shares you would do so and automatically be rebalanced back to 70/30. If the shares expire and don’t get put to you, you simply collect the premium and write new contracts using...
by the way
Mon Apr 20, 2020 1:10 pm
Forum: Investing - Theory, News & General
Topic: SWR Data: 6.5 Million Possibilities Considered
Replies: 152
Views: 7114

Re: SWR Data: 6.5 Million Possibilities Considered

Observations that were interesting to me: —Notice how there is only an 8% decline in probability of success between a 30 year and 60 year using a 4% withdrawal rate and a 100% US stock portfolio. In all time scenarios, 4% withdrawal rate with 100% stock portfolio seems to go the distance (>89% succ...
by the way
Mon Apr 20, 2020 12:45 pm
Forum: Personal Investments
Topic: Safe to have ~$1mil in savings account?
Replies: 27
Views: 2615

Re: Safe to have ~$1mil in savings account?

A couple CD's matured and my spouse and I have around $1mil in our American express online savings account. This is well over the $500k FDIC insured limit. Our plan is to keep it here for a few months then put half in the market. It is presently earning 1.6% .. Is this a big risk or insignificant? ...
by the way
Mon Apr 20, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Laid off!!
Replies: 71
Views: 10162

Re: Laid off!!

It hurt that they had employee meetings right after firing us. Then Engineering group meeting, followed by department wise meetings - all to console the employees that are still employed!! The fired ones were not given an opportunity to say anything. The middle management that was friendly to me un...
by the way
Sat Apr 18, 2020 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Please Help Us Get Our Stimulus Payment
Replies: 59
Views: 4728

Re: Please Help Us Get Our Stimulus Payment

I collect SS and filed a tax return. I owed and did not provide banking info. Using the Get My Payment, I supplied my banking info for Direct Deposit. The next day I checked the site and it said I did qualify for the stimulus, but to check later for payment status. A couple days later it said my ch...
by the way
Sat Apr 18, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus, get my payment? On the way, now. Why USPS.
Replies: 25
Views: 2947

Re: Stimulus, get my payment? On the way, now. Why USPS.

As a computer security professional, I was more concerned with the fact that the IRS apparently stores our direct deposit information on its servers when it usually doesn’t need to. I would much rather have to enter the information a second time for something like this, than trust them to securely ...
by the way
Sat Apr 18, 2020 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus, get my payment? On the way, now. Why USPS.
Replies: 25
Views: 2947

Re: Stimulus, get my payment? On the way, now. Why USPS.

I think the window is closing for people to enter their bank info and avoid mailed checks. I posted this article earlier. Is it right based on the reports here - ie 4/24 batch was for AGI of 10k? I saw this article https://finance.yahoo.com/news/coronavirus-stimulus-checks-irs-tool-lets-you-track-th...
by the way
Sat Apr 18, 2020 12:57 pm
Forum: Personal Investments
Topic: Any way to undo TLH?
Replies: 15
Views: 1049

Re: Any way to undo TLH?

Maybe you could declare the replacement shares as substantially identical making the whole thing a wash sale. Then the replacement shares inherit the holding period of the original shares and when you sell them, you'll have a LTCG. Don't claim anything that's not true. VTI isn't the same as SPY. VT...
by the way
Fri Apr 17, 2020 9:36 pm
Forum: Personal Investments
Topic: Any way to undo TLH?
Replies: 15
Views: 1049

Re: Any way to undo TLH?

Maybe you could declare the replacement shares as substantially identical making the whole thing a wash sale. Then the replacement shares inherit the holding period of the original shares and when you sell them, you'll have a LTCG.
by the way
Wed Apr 15, 2020 7:10 pm
Forum: Investing - Theory, News & General
Topic: Please prove me right on this Wash sale debate!!
Replies: 22
Views: 947

Re: Please prove me right on this Wash sale debate!!

Their argument "they have different CUSIP numbers", makes about as much sense to me as people who trade between broad-market index funds that use a different index but target the same stocks . As far as I can tell, the reason people doing that do so, is because those funds are "substantially the sa...
by the way
Wed Apr 15, 2020 12:26 pm
Forum: Investing - Theory, News & General
Topic: Please prove me right on this Wash sale debate!!
Replies: 22
Views: 947

Re: Please prove me right on this Wash sale debate!!

At least for indexes, I wonder if there is a website that can calculate the overlap of any two index funds/etfs based on their holdings. E.g if one index has 5% of AAPL and one has 3%, then the overlap is 3% - sum those up for all the holdings and say the final number is 56%. Then a wash sale is app...
by the way
Tue Apr 14, 2020 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 729

Re: Stimulus check for Dependent and 2018 tax return

otoh if he is a dependent this year (and meaning 'is' not 'chooses'), it actually works out better because I think he would get the $500 dependent credit + an additional ~6k in the standard deduction (say in the 12% bracket) which already puts him over $1200. Then there's the better tax brackets wh...
by the way
Tue Apr 14, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 729

Re: Stimulus check for Dependent and 2018 tax return

What I was saying in my initial post is that if his dad applies for the payment, then that must mean (they know) that he is not a dependent this year. That works. :sharebeer otoh if he is a dependent this year (and meaning 'is' not 'chooses'), it actually works out better because I think he would g...
by the way
Tue Apr 14, 2020 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 729

Re: Stimulus check for Dependent and 2018 tax return

Focusing on tax law instead of logic constructs: applying and receiving a payment does not mean he can not be claimed as a dependent. If you're implying that he could do both even if not eligible, then I don't know since I don't have any experience with that kind of thing. What I was saying in my i...
by the way
Tue Apr 14, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 729

Re: Stimulus check for Dependent and 2018 tax return

...if your dad has applied for and receives a payment, that just means he's not your dependent in 2020. Sort of that, except reversed: if someone can be claimed as a dependent, that person is not eligible for the payment, regardless of whether that person is claimed as a dependent or not. See #2 un...
by the way
Tue Apr 14, 2020 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Beneficiary Change - What Financial/Legal Firms say about who is the Donor
Replies: 28
Views: 1489

Re: 529 Beneficiary Change - What Financial/Legal Firms say about who is the Donor

I mean forget about superfunding and just do 15k a year. Then you really don't need to figure out who the official gifter is. You have ~18 years to finish up after all. The benefits of superfunding with an 18 year time horizon far outweigh the hassle of having to deal with the gifting issue (which ...
by the way
Mon Apr 13, 2020 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 729

Re: Stimulus check for Dependent and 2018 tax return

Bump.. If anybody has an answer for my situation This is purely my guess, but if your dad has applied for and receives a payment, that just means he's not your dependent in 2020. It shouldn't matter what your 2018/9 taxes say. But there's no way to know if the IRS would see your 2018 taxes and infe...
by the way
Mon Apr 13, 2020 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion / Private Letter Ruling
Replies: 32
Views: 2896

Re: Roth Conversion / Private Letter Ruling

And I guess there's no way to take out the Roth contribution once it's made? Eg. if OP had used the 60-day rollover method, they would still have time to put the money back into the TIRA. If they could just take the money out of the Roth, could they put it back in the TIRA before 60 days was up? Or...
by the way
Mon Apr 13, 2020 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion / Private Letter Ruling
Replies: 32
Views: 2896

Re: Roth Conversion / Private Letter Ruling

The distribution was instantly "repaid". It was converted to Roth. And I guess there's no way to take out the Roth contribution once it's made? Eg. if OP had used the 60-day rollover method, they would still have time to put the money back into the TIRA. If they could just take the money out of the...
by the way
Mon Apr 13, 2020 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act - Cutoff date for stimulus?
Replies: 9
Views: 766

Re: CARES Act - Cutoff date for stimulus?

I wonder about the opposite case - ie didn't qualify under 2018 but do for 2019 and ready to file now. Maybe it's actually better not to do direct deposit so that you are at the back of the line and so more chance that the new numbers will be used? That makes no sense. If you don't qualify for a st...
by the way
Mon Apr 13, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act - Cutoff date for stimulus?
Replies: 9
Views: 766

Re: CARES Act - Cutoff date for stimulus?

I wonder about the opposite case - ie didn't qualify under 2018 but do for 2019 and ready to file now. Maybe it's actually better not to do direct deposit so that you are at the back of the line and so more chance that the new numbers will be used?
by the way
Mon Apr 13, 2020 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion / Private Letter Ruling
Replies: 32
Views: 2896

Re: Roth Conversion / Private Letter Ruling

I received a response to my letter from someone on Tim Buckley’s Executive Response Team. This person, who I’ll call Joe, said he was very sorry to learn about what happened and that he checked every avenue he could to see if it was possible to override the transaction. He said if there was anyone ...
by the way
Mon Apr 13, 2020 11:34 am
Forum: Investing - Theory, News & General
Topic: What's behind huge layoffs at unicorns?
Replies: 81
Views: 7744

Re: What's behind huge layoffs at unicorns?

I have a small investment in a tech VC fund. Private equity startups burn investors money, and are dependent on making progress until the next funding round. Next round of valuations and availability of funds is now open to question. Also it is difficult or impossible for companies lacking tangible...
by the way
Sun Apr 12, 2020 10:26 pm
Forum: Investing - Theory, News & General
Topic: What's behind huge layoffs at unicorns?
Replies: 81
Views: 7744

Re: What's behind huge layoffs at unicorns?

Your criteria ($1 Billion market cap) includes practically every company in the S&P500. I think it will be easier to discuss if you list some specific examples of companies that have laid off such a big portion of their workforce. It makes quite a difference. I.e. if it's an airline or a search eng...
by the way
Sun Apr 12, 2020 12:01 pm
Forum: Personal Investments
Topic: Roth recharacterization to lower taxes
Replies: 9
Views: 567

Re: Roth recharacterization to lower taxes

Thanks guys. So it sounds like I was thinking about it wrong and should actually recharacterize the whole 6k (I had thought there'd be no point going over 3k) because this 6k would have 6k of basis which 'dilutes' the Roth conversion done earlier. Ie the 3k conversion would then have 2k basis and on...
by the way
Sat Apr 11, 2020 9:06 pm
Forum: Personal Investments
Topic: Roth recharacterization to lower taxes
Replies: 9
Views: 567

Re: Roth recharacterization to lower taxes

Thanks! I tried to look at this some more in TT. When I click thru my Roth contribution and recharacterize 3k, it zeroes out the 3k Roth conversion income (line 4b). Looking at 8606, both line 6 and 8 are blank for me. TT is known to have questions that many answer incorrectly, leading to an incorr...
by the way
Sat Apr 11, 2020 7:52 pm
Forum: Personal Investments
Topic: Roth recharacterization to lower taxes
Replies: 9
Views: 567

Re: Roth recharacterization to lower taxes

Seems like there are still a couple of cases where you could recharacterize a Roth contribution and save taxes. Is this right? 2. You do not qualify for a deductible TIRA. You made a 3k Roth conversion and also a 6k Roth contribution last year. Say the 3k conversion has dropped to 2k. You could rec...
by the way
Sat Apr 11, 2020 4:09 pm
Forum: Personal Investments
Topic: Roth recharacterization to lower taxes
Replies: 9
Views: 567

Roth recharacterization to lower taxes

Seems like there are still a couple of cases where you could recharacterize a Roth contribution and save taxes. Is this right? 1. You qualify for a deductible TIRA, but you chose to make a 6k Roth contribution last year. That 6k is now 5k. You could recharacterize and save taxes on 6k this year, the...