Search found 25 matches

by krylon80
Fri Mar 15, 2019 1:59 pm
Forum: Personal Investments
Topic: Roth IRA Money Market Funds-Liquid or Non-Liquid?
Replies: 6
Views: 238

Roth IRA Money Market Funds-Liquid or Non-Liquid?

Investopedia.com defines a "liquid" asset as: "Cash on hand or an asset that can be readily converted to cash. An asset that can readily be converted into cash is similar to cash itself because the asset can be sold with little impact on its value." As an example, the site specifically mentions Mone...
by krylon80
Thu Mar 14, 2019 11:54 am
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Re: Using Roth IRA funds for first-time home purchase

quick follow-up, given that Roth IRA contributions can be distributed tax and penalty free at any time, how is it that brokerages are able to charge their own fee for a "premature distribution" of contributions (E*Trade's $25 premature distribution fee, for example)? doesn't penalty free mean penalt...
by krylon80
Tue Mar 12, 2019 5:04 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Re: Using Roth IRA funds for first-time home purchase

thanks for all the help, everyone. i have a much better understanding on how Roth IRA distributions and exemptions work now.

that being said, all of this makes me want to go back to sticking money under the mattress, haha :?
by krylon80
Tue Mar 12, 2019 5:03 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Re: Using Roth IRA funds for first-time home purchase

fellow bogleheads, i'm purchasing my first home and i intend to use funds from my Roth IRA account. according to the Roth IRA withdrawal rules (https://www.rothira.com/roth-ira-withdrawal-rules), the full amount of contributions can be withdrawn at any time tax and penalty free as long as the accou...
by krylon80
Tue Mar 12, 2019 1:13 pm
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Re: Using Roth IRA funds for first-time home purchase

Regarding the federal FIFO guidelines Alternatively, if i made an initial contribution of $2,500 on Jan 1st, which earned $500 by June 1st, followed by a subsequent contribution of $2,500 on June 2nd, then my withdrawal of $5,000 would be considered a withdrawal of $4,500 from contributions and $50...
by krylon80
Tue Mar 12, 2019 11:16 am
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Re: Using Roth IRA funds for first-time home purchase

Federally, it is FIFO (First in firt out method). You only need to keep track of your contributions to be sure you are not withdrawing from your earnings. State wise, different from state to another. NJ is a pain in the neck (prorating the whole withdrawals), but probably still consider it qualifie...
by krylon80
Tue Mar 12, 2019 10:39 am
Forum: Personal Investments
Topic: Using Roth IRA funds for first-time home purchase
Replies: 17
Views: 1070

Using Roth IRA funds for first-time home purchase

fellow bogleheads, i'm purchasing my first home and i intend to use funds from my Roth IRA account. according to the Roth IRA withdrawal rules (https://www.rothira.com/roth-ira-withdrawal-rules), the full amount of contributions can be withdrawn at any time tax and penalty free as long as the accoun...
by krylon80
Fri Oct 05, 2018 4:48 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

Thanks, Spirit Rider, great info! I'll let her know to get going straight away.
by krylon80
Fri Oct 05, 2018 12:35 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

[krylon80 post_id=4150284 time=1538753877 user_id=35547] Yeah, that's what I was assuming, that Vanguard would send the Form 5498 for 2018, which could then be used on the 2018 taxes. That being said, if the intent was for the 2018 contributions to be deducted from 2017's taxes, how could that have...
by krylon80
Fri Oct 05, 2018 10:37 am
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

I don’t think you have a double taxation problem. You missed out on making a SEP IRA contribution for 2017 by not taking the deduction on line 28 of your 2017 Form 1040. Yes you can take the deduction when you file your 2018 1040 if you have 2018 self-employment income to justify the Jan 2018 contr...
by krylon80
Fri Oct 05, 2018 8:55 am
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

Unlike traditional and Roth IRAs, the custodian only reports the year the SEP IRA contribution is made in. They do not determine what year it is for. The determination of what year contributions are for is based on what tax year's return the contribution is deducted. Note: To deduct the contributio...
by krylon80
Fri Oct 05, 2018 8:52 am
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

krow36 wrote:
Thu Oct 04, 2018 5:11 pm
Is Vanguard listing the Jan 2018 contribution for 2017 or for 2018?
they list the Transaction Description as "Employer prior year contribution". The prior year would be 2017.
by krylon80
Thu Oct 04, 2018 4:42 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

Thanks, krow36. I didn't realize that "TIRA" stood for "Traditional IRA". I thought it was something else. As you said, the SEP-IRA contributions were most likely standard SEP-IRA contributions, which were NOT deducted on 2017 taxes. As far as I can tell Vanguard never issued a Form 5498 tax documen...
by krylon80
Thu Oct 04, 2018 3:29 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

Thaks, krow36. While following your instructions did show me what my contributions were, I already have that information. What I'm trying to determine is how those contributions were classified or "flagged" as per Alan's post (above).
by krylon80
Thu Oct 04, 2018 11:59 am
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

The contributions were made in 2018, but for the tax year 2017. I wasn't able to find a Form 8606 on the account, but I'm assuming that's because one has not been generated yet. I have no idea how the contributions were flagged. Any idea how I can determine this information (ideally looking somewher...
by krylon80
Wed Oct 03, 2018 5:26 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Re: Question Regarding SEP-IRA Distributions

Thanks for the info, guys. The SEP-IRA account was opened by a self-employed contractor for herself, not by an employer. She opened the account with Vanguard and made post-tax contributions herself. Are SEP-IRA contributions deducted as part of itemized deductions, in which case they could not be de...
by krylon80
Wed Oct 03, 2018 12:35 pm
Forum: Personal Investments
Topic: Question Regarding SEP-IRA Distributions
Replies: 26
Views: 1233

Question Regarding SEP-IRA Distributions

Hey all, I had a question regarding the tax implications of SEP-IRA distributions. All information I'm able to find online states that SEP-IRA distribution rules follow standard IRA distribution rules. With a standard IRA contributions are made pre-tax, so any distribution is taxable. However, in my...
by krylon80
Mon Apr 23, 2012 6:00 pm
Forum: Personal Investments
Topic: Understanding Indexes
Replies: 12
Views: 867

Re: Understanding Indexes

After looking at my current portfolio I noticed that I am actually already invested in some of the funds you guys have suggested. Within my current portfolio, I have shares in the Vanguard Target Retirement 2050 Fund (VFIFX). Amongst it's holdings are the Vanguard Total Stock Market Index Fund and t...
by krylon80
Mon Apr 23, 2012 1:47 pm
Forum: Personal Investments
Topic: Understanding Indexes
Replies: 12
Views: 867

Re: Understanding Indexes

I'd just like to thank you all for your fantastic responses and insight. I have a lot to consider now. Thanks! :)
by krylon80
Fri Apr 20, 2012 7:27 pm
Forum: Personal Investments
Topic: Understanding Indexes
Replies: 12
Views: 867

Re: Understanding Indexes

Awesome, thanks LadyGeek. I understand what you're saying about "Analysis Paralysis" (fantastic name for it, btw). I'm definitely going to check out those wiki articles but I was just wondering if you'd be able provide me with a very quick, simplified explanation of what exactly a "total market fund...
by krylon80
Fri Apr 20, 2012 7:02 pm
Forum: Personal Investments
Topic: Understanding Indexes
Replies: 12
Views: 867

Re: Understanding Indexes

Thanks for taking the time to provide a helpful response, Simplegift, and thanks for welcoming me to the forums. In my preliminary research I've also gotten the impression that are are other "more well-designed and comprehensive indexes", as you put it, for investors. I'm glad I'm not crazy. I'll ch...
by krylon80
Fri Apr 20, 2012 5:17 pm
Forum: Personal Investments
Topic: Understanding Indexes
Replies: 12
Views: 867

Understanding Indexes

It seems pretty obvious to me that the three major indexes followed in the US are the Dow Jones Industrial Average, NASDAQ and the S&P 500. There are literally hundreds of different indexes listed in the US (http://www.bloomberg.com/markets/indexes/country/usa/). Why are these three the particular o...
by krylon80
Fri Mar 30, 2012 8:52 am
Forum: Personal Investments
Topic: Novice Mergers and Acquisitions Question
Replies: 8
Views: 541

Re: Novice Mergers and Acquisitions Question

I appreciate your input nova & cruncher. Thanks.
by krylon80
Fri Mar 30, 2012 8:49 am
Forum: Personal Investments
Topic: Novice Mergers and Acquisitions Question
Replies: 8
Views: 541

Re: Novice Mergers and Acquisitions Question

see for example what happened to amylin stock price today (up almost 50%), based on a report that they refused a buyout offer from BMS: http://www.forbes.com/sites/abrambrown/2012/03/28/amylin-shares-spike-nearly-50-over-bristol-myers-takeover-rumors-still-faces-strong-headwinds/?partner=yahootix t...
by krylon80
Wed Mar 28, 2012 11:54 am
Forum: Personal Investments
Topic: Novice Mergers and Acquisitions Question
Replies: 8
Views: 541

Novice Mergers and Acquisitions Question

If you're anticipating Company A will acquire Company B, would it be more advantageous to purchase Company A stock or Company B stock (well in advance of the acquisition, or common knowledge of the acquisition)? Why? I'm unclear what the advantage or disadvantage is from a stock perspective in this ...