Bogleheads.org

If you are flying into Tokyo, odds are you will fly into Narita. However, there are some flights from the US going into Tokyo's second airport Haneda. Double-check your arrival and departure airport. I heard the story about a US traveler flying into Narita and assuming that the departure was out of Narita. On the departure day, he arrived at Narita on time to find out that the departure was out of Haneda, and missed his flight home.

"But what did you have to transact with SSA? I never had to do anything; the checks just showed up. When my relative passed away, I believe I called SSA immediately, and no further deposits appeared. I don't recall any authentication being required." My father's bank account where he had his monthly SS direct deposited had to be shut down due to fraudulent checks being issued against it. My 95-year-old father was in no shape to deal with SS. I had to get guardianship in order to change the direct deposit account. It was a slow and painful process. Because the SS checks were not deposited for several months, Medicare sent a letter saying they were going to discontinue medical coverage. A telephone call to Medicare straightened thi...

I just imported the Schwab 1099 Composite. The 1f-Accrued Market Discount is imported but the H&R Block memo line is not completed so my capital gains on Schedule D are overstated. However, the Bond Premium adjustment was made to the basis on Schedule D. On Schedule B I am not surprised that there were no adjustments made for Accrued Interest Paid, Bond Premium, and Market Discount.

Today, I manually input my Schwab 1099 composite. In 2022 I bought a US treasury with an "accrued market" discount which also matured in 2022. The 1099-B shows the accrued market discount in Box 1f which results in a zero realized g/l. The H&R Block software warns that the accrued market discount needs to be reported in the 1099-Int. The Schwab 1099-Int does not report the discount amount in Box 3 US Treasuries and Box 10 Market Discount.

I assume that the Schwab 1099 Int is incorrect. I have to report the discount as interest income. Am I missing anything?

MisterMister, Thanks for the guidance.

I will import Schwab's composite 1099 and also manually input it to compare (paranoid?). The 1099 became available online early this morning. Schwab is running ahead of the promised date. However, It will be ready for H&R Block import on February 17 (digitized). Hopefully, it will be in the morning.

As mentioned previously, H&R Block desktop software will only give you the choice of one adjustment per 1099-Int. In my case, I have to adjust for Box 12 Bond Premium on Treasury Obligations and Accrued Interest Paid on Purchases. Both are used to reduce Box 3 Interest on U.S. Savings Bonds and Treasury Obligations. I called H&R Block and they said to complete multiple copies of the 1099-Int input form. What is awkward is that the split will be arbitrary as the bond that has the Bond Premium also has Accrued Interest Paid. Hopefully, the IRS looks at the numbers in total. The bond with the premium matured in 2022 so I will have to reduce the cost basis by the amount in Box 12. Schwab shows the adjustment footnoted. Instead of a loss...

Follow Up: Sometime during the night, my "pending" electronic payment (Dec 27) was reclassed to "processed."

Wow, my December 27, 2022, ACH payment for the fourth quarter estimated taxes is still pending. The amount and date are posted on the IRS website. The amount left my bank account on December 27th. Has anyone seen their recent IRS payments moved out of the pending category?

I used Direct Pay for the fourth quarter 1040-es payment. The ACH occurred on December 27. Tonight I checked my IRS tax account. It shows the ACH payment pending: "We are processing your payment, and it's not reflected in your balance." However, it shows the dollar amount and the date December 27. Hopefully, it will be processed before I file in April.

My wife experienced the same problem with Schwab Bank. My wife paid her quarterly Medicare payment during the pandemic shutdown electronically via bill pay which is run by Fiserv. Months later we got a late notice from Medicare that if we didn't pay, her Medicare insurance would be dropped. That is when we discovered that the electronic payment had been turned into a paper check. Since it was during the pandemic shutdown, anything paper was not processed timely. Since our birthdays are days apart, we made the medicare payments at the same time and my payment went through electronically. Note that her previous electronic payments to Medicare had been successful. I spent months working with Schwab and Fiserv trying to unravel why this happene...

For what it is worth I mailed a paper EE bond on September 20th via first-class mail to Treasury Retail Securities Services in Minneapolis and received an email acknowledging receipt on September 27th. The email said to allow up to 13 weeks for review and processing.

European companies with the majority of their sales in the US will report higher Euro revenue. US companies with a significant portion of their sales in Europe will report lower US revenue.

My wife and I had a lot of fear and loathing going into the sign-up process for id.me. I am not the most tech-savvy person. Our fears turned out to be unfounded. My wife's sign-up went through without a hitch. I hit a snag and had to go through the online interview. The employee who did the interview had the patience of a saint. She walked me through setting up the online software (no small feat) via the telephone and made sure that everything went smoothly. Give id.me a chance. I was impressed by the customer service. If it were not privately held, I would have bought their stock.

Wow, this is scary. I just sent a message to Schwab asking if they had plans to add a similar Fidelity lockdown feature.

This morning's good news - the web pages are now working.

It started this morning. When I click on the Research tab, I get "This information is temporarily unavailable." If I click on the International tab I get a lower level of tabs such as U.S. Markets, Industries...I can get at the information. I also get the same message when I try to see transaction data for the accounts but have found no workaround. I shut down the VPN, restarted the pc, cleaned the browser caches, ran CCleaner, and then accessed Schwab using Edge, Firefox, and Chrome. I still got: "This information is temporarily unavailable." I produced the same results on my second laptop. I called Schwab and they said that no one else has reported this problem. I spoke to the IT support person who said that I had gone...

If you have a car, you may want to drive the serpentine street, Lombard. It is a lot of fun. The first time that I went to San Francisco, I picked up a manual shift car at the airport. When I had to stop for a red light on one of the steep hills, I broke into a cold sweat until I mastered the put-in gear, go forward and let the foot off the brake technique.

You will need to maintain the house as landlords (my interpretation) may be held liable if the injuries or crimes are caused by the landlord’s negligence of the property. You will also need adequate insurance.

The best thing that you can do is to get an Occupational Therapist to review the home/apartment to maximize independence and promote safety.

It may be different this time. When crude hit $140 everyone and their brother was out drilling. Financial institutions were throwing cash at the exploration companies. The supply glut dropped prices and companies lost money. Some went bankrupt and those that didn't had to borrow money. This time around the major oil companies are showing capital discipline - let's not drill ourselves into bankruptcy. Just focus on the most profitable oil fields and forget the others. Focus on paying down debt, stock buybacks, and increasing dividends. At the same time, they were helped along by anti-oil Federal policies which included telling financial institutions not to provide money. Time will tell, but it bodes well for big oil and XOM. This was a great...

In an inflationary period, I want to be holding oil & gas stocks such as XOM.

XOM has been aggressively reducing costs and headcount. They apparently are on target to reduce costs by $9 billion by the end of 2023. They are getting rid of their headquarters in Dallas and moving the people into their existing Houston campus. Vanguard was instrumental in getting two climate activists on the board. As pointed out, Warren Buffett has been buying oil stocks. I would hold on to the stock to see how it plays out.

With interest rates rising, the housing market is on borrowed time. Do not buy in desperation.

I strongly recommend that you visit the consumer advocate site - Elliott Advocacy.

https://www.elliott.org/the-troubleshooter/

You will probably see examples of dealing with Capital One. The site will have the steps to take to self-advocate including who to contact at Capital One (email addresses). When all else fails they may pursue the case with Capital One. Best of luck, document dealings with Capital One by email, and have perseverance.

What really bothers me is dealing with the Land Trust. Today, they may be reasonable. In the future, they may not. For the uncertainty, I would need a big discount for shouldering the uncertainty.

If you are planning to build, make sure that you can get a mortgage.

I managed my father's Schwab accounts using the POA. I did not run into any limitations. It went smoothly. When my father died I briefly managed his estate accounts before distribution after filing executor papers with Schwab. The distribution went off without a hitch. I also managed a martial trust at Schwab that was distributed upon my father's death. It entailed splitting up an extensive stock portfolio. Again that went off without any problems. All of the beneficiaries used odd brokerage firms. I tried convincing them to set up accounts at Schwab so the distributions would take a day. No luck. Whenever I called Schwab for help, the person on the Schwab side would immediately see that I had POA. There was no reinventing-the-wheel process.

I went back at looked at the acceptance confirmation from H&R Block:

"The IRS will automatically withdraw $XXXX from your bank account on ...."

I also received an acceptance from the IRS via H&R Block and double-checked it in my IRS tax account.

H&R Block had a panel in the 1040X e-file processing where you selected the method of payment. In the case of ACH, bank routing and account numbers were collected.

If the ACH does not go through, I will update this post.

I e-filed an amended return almost three weeks ago which was accepted by the IRS. The ACH bank draw has not been executed. Just have patience.

If you receive foreign dividends in an IRA and the country withholds tax, you cannot claim a foreign tax credit.

The big disincentive to international investing is IRS Form 1116 if the withholding taxes are greater than $600 MFJ or $300 Single. You would have to be a masochist. Was the carryforward credit ever fixed which prevented e-filing the tax return? I sure would have disliked sending in a paper return. If you are lucky, it gets processed in the year 2022.

Also, there are a lot of junk handling fees - American Depository Fees.

Per this weekend's WSJ, Berkshire has a stake of 9.5% in Activision Blizzard (ATVI). They are playing the merger-arbitrage. On Friday ATVI closed at $75.60 and Microsoft is going to pay $95.00 if the merger is approved. From what I have read, there is a decent probability of the Feds approving the deal.

I ran CCleaner and then was able to look at my tax transcripts without getting the dreaded access denied message. It may only be a coincidence.

I got the same message a couple of weeks ago and again this week when I tried to view tax transcripts. In between these errors, I had no trouble viewing the transcripts. Give it time (a day or two) and the error message will disappear. I suspect that the IRS computers get overloaded which leads to the error message.

The Royal Observatory at Greenwich has the Harrison clocks which revolutionized sea navigation by solving the problem of finding longitude at sea. This is a really neat piece of history. Two times I took the boat from central London to Greenwich. The boats were registered landmarks since they were part of the "little ships of Dunkirk" that rescued soldiers trapped on Dunkirk Beach. I think they were all retired in 1999 over safety issues. I hope that they did not end up rusting away.

https://www.rmg.co.uk/stories/topics/ha ... de-problem

You need to track down the experienced Oil & Gas Attorney for the county where the property is located in. Typically, they will have a good handle on how to negotiate. Also, the attorney will be able to make lots of changes to the eventual lease agreement. The attorney will be worth every penny. There are lots of nuances that the standard oil and gas lease agreements omit in the favor of the oil company. If the property is in the state of Texas, A&M and UT have very good publications from the property owner's perspective. In my experience, the oil company will reject my original counter offer and I walk. When they get near to drilling the first well, they call back and we reach a compromise. I let the attorney handle this who is ver...

You should visit Greenwich. Greenwich is home to the National Maritime Museum and the Royal Observatory. It is easy to get there by boat down the Thames or subway.

https://visitlondon.com/things-to-do/lo ... /greenwich

My 2020 paper tax return was mailed in early April 2021 and was processed in August 2021. I consider myself very lucky that it was processed. This is the first year that I have been able to e-file. I e-filed in early April and the tax return was processed and showed up in my tax account. Then on April 18th, I received two corrected 1099-B's. Since I had e-filed, I was able to e-file an amended tax return which was accepted by the IRS. This is a major time saver. If I had sent in a paper return, I would have had to wait until the paper return was processed and then mail in the amended return. My guess is that under this scenario, the amended return would have been processed in 2023. I still have friends who will only paper file. In the past,...

Two years ago this happened to me. An electronic payment scheduled through the bank's Bill Pay was turned into a paper check. The prior payments to the vendor had no problems and went electronically. Bill pay is operated by a third party - not the bank. I contacted the third-party processor. To make a long story short, their proprietary algorithms determined that it was safer for the vendor to receive a paper check. Apparently, they had worked the algorithms out with the vendor. I told them that their algorithms in this case made no sense. Since this was in the middle of COVID it took months for the paper check to be processed. I only realized this when I received a late payment notice. In the meantime, I paid the vendor by credit card so a...

I can log into my Individual IRS Tax Account. However, when I click on Get Transcript and then select a reason and click Go, I get Access Denied. Has anyone else experienced this?

Turbo Tax users who report Rent on Schedule E and select Property Type 5 - Land, is the default to Non-Passive? Do you have the ability to control whether the income is passive or non-passive without overrides? If so, I may switch to Turbo Tax.

LadyGeek,

Thanks, I just placed my second order.

The mystery is solved. If you select property type 5 - Land, the tax software defaults to Non-Passive activity. The other property types 1, 2, 3, 4, 6 & 8 default to Passive. Property type 7 defaults to Non-Passive. I am reporting rent on pasture land (no involvement on my behalf) so I am stuck with type 5. I will have to override Non-passive to Passive and as a result, mail my tax return in.

How does Turbo Tax handle this?

I am using H&R Block tax software (desktop). This year I am planning to e-file. However, I may have a problem with Schedule E. I have 3 rental properties reported on Schedule E. They are passive investments. Two properties report positive income. The third has a loss. As a result, I complete Form 8582 Passive Activity Loss Limitations and carryforward a passive loss. This passive loss carryforward will be used up in a year or two. In order to report the properties with net income as a passive activity, I have to override on the Rentals and Royalties worksheet section VII and VIII column 1 “Is this a passive activity” from N to Y. I get the correct tax reporting. However, when I run the Fix Your Federal E-file Issues check for e-filing I...

In the "Date acquired" field type INHERIT. If you click on "Date acquired", these instructions will appear. I use the desktop version of H&R Block.

Line 25 consists of royalty losses from line 21 and rental real estate losses from line 22. If you are reporting a rental loss, you need to report an amount on line 22.

I did not have problems with printing page 2 (I have more than 3 properties and royalties to report), Schedule E except for the broken lines. I printed my tax return this morning.

Shutting down the H&R Block tax community forum was a great loss. Everyone helped each other and would arrive at a solution. You could also report bugs and the H&R Block moderator would follow up with corporate. I asked on H&R Block's Facebook page what happened to the site. The response was we do not know what you are talking about.

Several years ago, I had four years of H&R block business tax software that would not open. Something had changed. I called H&R Block support and they sent me software so I could uninstall and reload the prior years. After this, the prior years started working. I should probably test them to see if they are still working.