Search found 109 matches

by rockylou
Wed Feb 12, 2020 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: iPad for Financial Transactions on the Internet
Replies: 28
Views: 2758

Re: iPad for Financial Transactions on the Internet

I do everything on my iPad, except completing my taxes. I did install vpn (included with my norton anti virus software) so hopefully safe if out using wifi
by rockylou
Wed Feb 12, 2020 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: [Turbotax says I have to wait for form 8606]
Replies: 19
Views: 2429

Re: [Turbotax says I have to wait for form 8606]

Thanks, I did too and someone fromTT called me to apologize for the response I had gotten from the previous guy I talked to. She explained about the form and why it might show up and Was very nice! I didn’t expect a call back but I had completed a survey so that’s why I got a call
by rockylou
Mon Feb 10, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: [Turbotax says I have to wait for form 8606]
Replies: 19
Views: 2429

[Turbotax says I have to wait for form 8606]

I have used TT for years. For some reason it says I have to wait to file until form 8606 is finalized by government on 2/12. The form is for use when you have non-deductible IRAs, which I have never had. I tried deleting my 1099-Rs and redoing taxes and still says it. I called TT and the person I sp...
by rockylou
Tue Feb 04, 2020 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about HSA
Replies: 20
Views: 1123

Re: Tax question about HSA

No offense taken, I learn so much from all of you and am so appreciative!
by rockylou
Tue Feb 04, 2020 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Tax question about HSA
Replies: 20
Views: 1123

Re: Tax question about HSA

Thank you everyone! I hadn’t answered the question about if it was a high deductible plan (as wasn’t sure) so went back and said yes and his refund went up by $300!
by rockylou
Mon Feb 03, 2020 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about HSA
Replies: 20
Views: 1123

Re: Tax question about HSA

Thanks, he didn’t get a 1099-SA. The W-2 had the $1,000 in box 12b with letter w. Because of that, TT added it under additional tax on excess contributions to HSA
by rockylou
Mon Feb 03, 2020 8:28 pm
Forum: Personal Consumer Issues
Topic: Skiing Frugally
Replies: 45
Views: 4605

Re: Skiing Frugally

Have you checked out this? https://www.rideandskine.com/ We used this until the ski resort near us stopped participating but there may be some near you. Also, when our kids were young, they went weekly with our rec program and it was very reasonable. I volunteered with the program and skied free and...
by rockylou
Mon Feb 03, 2020 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about HSA
Replies: 20
Views: 1123

Tax question about HSA

I am doing my son’s taxes and his employer contributed $1000 to an HSA for him in 2019. My son didn’t contribute anything. TurboTax added the $1000 to income (form 5329-T shows it as excess contribution) and there is an additional tax of $60. Last year, employer contributed $1000 to HSA also and Tur...
by rockylou
Sat Jan 04, 2020 7:10 pm
Forum: Personal Investments
Topic: Backdoor Roth
Replies: 4
Views: 541

Re: Backdoor Roth

Thanks for the replies, I appreciate it!
by rockylou
Fri Jan 03, 2020 9:55 am
Forum: Personal Investments
Topic: Backdoor Roth
Replies: 4
Views: 541

Backdoor Roth

can you do a backdoor roth more than once a year? Thanks
by rockylou
Thu Dec 26, 2019 2:21 pm
Forum: Personal Investments
Topic: 529 vs Roth
Replies: 1
Views: 218

529 vs Roth

My son lives in MA and has an infant and is wondering if there is any advantage to 529 over starting a Roth for baby’s future education and if he starts a Roth for baby’s future education, can what He deposits be withdrawn without penalty at any time and then he could keep the gains for his retireme...
by rockylou
Mon Dec 02, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to provide information/advice concerning Medicare choices
Replies: 15
Views: 1028

Re: Trying to provide information/advice concerning Medicare choices

My husband is on supplemental plan F, the most expensive option. He has had prostate cancer but is otherwise healthy and on no prescriptions. I understood that if he moved to a lower cost plan that he would not be able to go back to that plan/option, even during open enrollment. Does this depend on ...
by rockylou
Sun Nov 10, 2019 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Who can claim as dependent?
Replies: 5
Views: 362

Re: Who can claim as dependent?

Thanks so much for the help, I find the IRS website difficult to use but the link is very helpful! I appreciate the prompt replies!
by rockylou
Sun Nov 10, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Who can claim as dependent?
Replies: 5
Views: 362

Who can claim as dependent?

My son’s child is 18 and in college full time. He has lived with his mother and she has always claimed him as a dependent, although my son always paid child support. My grandson is going to be living at college in January and his father pays for his expensive health insurance and car insurance, as w...
by rockylou
Fri Sep 27, 2019 5:35 pm
Forum: Personal Investments
Topic: Brokerage account
Replies: 3
Views: 347

Brokerage account

Vanguard convinced me to change my account to a brokerage account a few years ago and I soon wished I hadn’t but they said I couldn’t change it back. It used to be easy to move money on line, especially Roth conversions but with brokerage account I have to call Vanguard to move the money and I can’t...
by rockylou
Sun Sep 08, 2019 7:00 pm
Forum: Personal Investments
Topic: Capital gains
Replies: 5
Views: 881

Re: Capital gains

Thanks so much for the replies, very helpful! The mortgage calculator is very easy to use and easier than running TurboTax again, I appreciate it
by rockylou
Sat Sep 07, 2019 6:54 am
Forum: Personal Investments
Topic: Capital gains
Replies: 5
Views: 881

Capital gains

I am trying to figure out what the tax rate for married couple will be if we sell some non retirement stock funds. Our income will be over the 0% rate of 77,200, does that mean all of the long term capital gains will be taxed at the 15% bracket, which we will be in? With pension, social security, di...
by rockylou
Wed Mar 27, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about schedule K-1
Replies: 1
Views: 330

Tax question about schedule K-1

My son has a small side business, a partnership LLC. He has an accountant do the schedule K-1and I do his personal taxes on TurboTax. The accountant figures out his self employment earnings and loss and I enter the information from schedule K-1 on TurboTax. TurboTax asks if he had to pay any unreimb...
by rockylou
Tue Mar 26, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Dividends but no 1099
Replies: 1
Views: 252

Dividends but no 1099

My son received xerox stock from his grandmother years ago but couldn’t find the certificates. He finally sold the stock, made very little since he didn’t have the certificates. He received $15 in divdends for 2018 but didn’t receive a 1099-DIV. he called Computershare and they confirmed the amount ...
by rockylou
Thu Mar 07, 2019 9:13 pm
Forum: Personal Consumer Issues
Topic: Things to do in Maine
Replies: 72
Views: 7406

Re: Things to do in Maine

We love Acadia but it is a long drive, especially with two small children. As mentioned, there are so many beautiful coastal towns, about 3,000 miles if you count all the peninsulas. If you are driving from Boston,be prepared for summer traffic. Portland is a great city to explore, great restaurants...
by rockylou
Sat Feb 23, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: For 2018 I owe 2400 taxes is there penalty?
Replies: 5
Views: 639

Re: For 2018 I owe 2400 taxes is there penalty?

Thanks for all the replies!
by rockylou
Sat Feb 23, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: For 2018 I owe 2400 taxes is there penalty?
Replies: 5
Views: 639

For 2018 I owe 2400 taxes is there penalty?

My son didn’t have enough withheld at work and now owes 2400. TurboTax shows estimated tax payment form. Does he have to do estimated payments? He did have more withheld in 2018 than he owed in 2017 but he worked a lot of overtime in 2018. Also, is there a penalty? Thanks
by rockylou
Fri Feb 01, 2019 6:18 am
Forum: Personal Finance (Not Investing)
Topic: How to include extra income on taxes
Replies: 6
Views: 599

Re: How to include extra income on taxes

Thanks for all the suggestions!
by rockylou
Thu Jan 31, 2019 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: How to include extra income on taxes
Replies: 6
Views: 599

How to include extra income on taxes

My son works full time as a pharmacist but also plays the guitar and last year he recorded a CD and played at a number of small places. He made $1161 total and had expenses of $2026. He is not sure how to reflect this on his taxes. He usually uses deluxe TurboTax but isn’t sure if that will be suffi...
by rockylou
Tue Dec 18, 2018 4:47 pm
Forum: Personal Investments
Topic: RMD question
Replies: 7
Views: 824

Re: RMD question

Thanks so much, I didn’t realize we had to sign up for the RMD process. I just had a call from new advisor at vanguard last week but didn’t think to ask. We had had the same advisor for years but I guess they don’t do it that way any more.
by rockylou
Tue Dec 18, 2018 7:29 am
Forum: Personal Investments
Topic: RMD question
Replies: 7
Views: 824

RMD question

My husband will need to start RMD in 2019. His IRA is 51% equities and 49% bonds. With the stock market down, would it make sense to take his RMD from bond fund? And should we do that in January or wait until later in year and see if stocks go up? His IRA is at Vanguard so I assume they will let us ...
by rockylou
Fri Sep 21, 2018 7:07 pm
Forum: Personal Investments
Topic: CIT vs. ALLY vs. 360
Replies: 14
Views: 2251

Re: CIT vs. ALLY vs. 360

I got a mailing from CapitolOne today offering $500 bonus if deposit $50,000 or more. I have a synchrony high yield savings and I am wondering if worth moving the money. CapitolOne says paying 1.85%, which is the same as Synchrony. By the way, they are paying 2.65% for 13 month CD. I haven’t dealt w...
by rockylou
Tue Aug 07, 2018 8:06 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5431
Views: 1349279

Re: What Movie Have You Recently Watched?

I just watched I Can Only Imagine on Redbox on demand and really enjoyed it
by rockylou
Wed Apr 11, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about K-1
Replies: 2
Views: 431

Re: Tax question about K-1

Thanks for the reply. I had him ask the accountant and he said he can include on his personal taxes since the business didn’t reimburse him.
by rockylou
Tue Apr 10, 2018 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Tax question about K-1
Replies: 2
Views: 431

Tax question about K-1

My son has a small part time business with a friend. He has an accountant do the schedule K-1 for the partnership. I did his personal taxes last year and am now doing for 2017 taxes, I entered the information from K-1 on turbo tax for his personal taxes. He had business income reported on K-1 of $48...
by rockylou
Tue Apr 10, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Need help with form 1099-B
Replies: 7
Views: 629

Re: Need help with form 1099-B

Thanks so much!
by rockylou
Tue Apr 10, 2018 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Need help with form 1099-B
Replies: 7
Views: 629

Re: Need help with form 1099-B

Thanks so much for the replies. I have no idea when my mother purchased the stock, could be 30 years ago but no records, she gifted it about 15 years ago. My son is now 30. I will put 0 for basis but would like to just have him sell all of the stock, it’s only worth a few hundred dollars. He is in a...
by rockylou
Mon Apr 09, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with form 1099-B
Replies: 7
Views: 629

Need help with form 1099-B

I am helping my son with his taxes. My mother had given him some Xerox stock about 15 years ago, when he was a child. We never got the certificates and just want to get rid of it but that has been tough as my mother is deceased and we don’t have the original certificates (have had dividends reinvest...
by rockylou
Tue Jan 23, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: High Yield Savings Account Recommendations?
Replies: 48
Views: 6739

Re: High Yield Savings Account Recommendations?

I have had account at Synchrony bank for several years and very happy with them. They just sent out notice offering 2% one year CD.
by rockylou
Tue Oct 24, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why not switch from Medigap F to G now?
Replies: 43
Views: 5715

Re: Why not switch from Medigap F to G now?

My husband has plan F and we called his insurance company (Transamerica) and they said if he switched to plan G, the premium would increase from $179 to $190 because it would be based on his current age, rather than age when he first signed up.
by rockylou
Tue Oct 24, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on capital gains
Replies: 10
Views: 1770

Re: Taxes on capital gains

Thanks for all the replies. I knew that only the amount of income over 15% bracket was taxed at higher rate but I thought if went over 15% that all the capital gains were subject to taxes, rather than just amount over the 15%. That makes a big difference to me, thanks so much!
by rockylou
Tue Oct 24, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on capital gains
Replies: 10
Views: 1770

Re: Taxes on capital gains

Thanks for the reply. So, it sounds like the capital gains will all be taxed at 15% if I go over the 75,900 (2017 mfj 15%tax rate) for 2017?
by rockylou
Tue Oct 24, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on capital gains
Replies: 10
Views: 1770

Taxes on capital gains

I am doing a Roth conversion this year as RMDs will start in 2019 and trying to decide if I should keep income in 15% tax bracket or go over. I read that it might be better to sell our non-retirement stock mutual funds instead and pay no capital gains taxes. We have 73,753 in TSM and 500 index and c...
by rockylou
Thu Oct 05, 2017 9:01 pm
Forum: Personal Consumer Issues
Topic: Boston to Bar Harbor trip
Replies: 33
Views: 2926

Re: Boston to Bar Harbor trip

There are many great restaurants in Portland. DiMillos is very good for seafood and is on the waterfront. Black Point Inn at Prouts Neck in Scarborough (5 or so miles south of Portland) is very nice and a beautiful setting on the water, they close 10/27 for season (if you like to hike, there is a be...
by rockylou
Fri Aug 11, 2017 6:15 am
Forum: Personal Consumer Issues
Topic: Window replacement - any advice? Lessons learned?
Replies: 63
Views: 15398

Re: Window replacement - any advice? Lessons learned?

We replaced all of our windows several years ago (29 windows) in our Maine home with Paradigm windows and couldn't be happier. We looked at Andersen, Pella etc. Paradigm are made in Maine and are actually in the building on top of Mt Washington
by rockylou
Tue Aug 08, 2017 10:29 am
Forum: Personal Consumer Issues
Topic: Boston to Maine road trip
Replies: 64
Views: 6842

Re: Boston to Maine road trip

There are so many beautiful places to visit, hard to choose look at visitmaine.com. if you drive up the coast, the coastal Maine botanical gardens in Boothbay Harbor (about an hour northeast of Portland) is beautiful. We love Harpswell, Bailey Island and Orrs Island (both accessible by a crib stone ...
by rockylou
Thu Mar 23, 2017 11:24 am
Forum: Personal Consumer Issues
Topic: Need help with info about Portland
Replies: 14
Views: 1654

Re: Need help with info about Portland

Portland Maine or Portland Oregon?
by rockylou
Fri Feb 24, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: HSA
Replies: 3
Views: 624

Re: HSA

Thanks, I had not read that far, we are on Medicare so do not qualify. I have an advantage plan through my state retirement but deductible co-pay and co-insurance go up every year.
by rockylou
Fri Feb 24, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: HSA
Replies: 3
Views: 624

HSA

I noticed when doing my taxes that when converting TIRA, you can elect to move $ to an HSA, one time only. Has anyone done this and if so, how does it work? We are both retired and medical expenses going up, thanks
by rockylou
Fri Feb 24, 2017 8:19 am
Forum: Personal Investments
Topic: Recharacterization Roth conversion
Replies: 10
Views: 1245

Re: Recharacterization Roth conversion

Thank you so much!! I finally figured out what I was doing wrong, I had checked that I cashed out the conversion, instead of moved to a retirement account. Now the recharacterization questions are coming up. I so appreciate all the help!
by rockylou
Thu Feb 23, 2017 7:14 pm
Forum: Personal Investments
Topic: Recharacterization Roth conversion
Replies: 10
Views: 1245

Re: Recharacterization Roth conversion

Thanks, yes I am aware but I also cashed in some non-retirement stock funds and therefore wanted to stay under 15% so no tax on Capitol gains. I still cannot figure out how to,reflect recharacterization on turbotax. I went to IRS today and three people there didn't know but they finally decided I ha...
by rockylou
Wed Feb 22, 2017 3:55 pm
Forum: Personal Investments
Topic: Recharacterization Roth conversion
Replies: 10
Views: 1245

Re: Recharacterization Roth conversion

Thank you, I don't see anywhere on turbotax to put a note about the recharacterization. Would I need to file a paper claim? Also, Vanguard said I would need to pay tax on any earnings but I assume that would be on 2017 taxes filed next year ?
by rockylou
Wed Feb 22, 2017 8:59 am
Forum: Personal Investments
Topic: Recharacterization Roth conversion
Replies: 10
Views: 1245

Recharacterization Roth conversion

I read this on IRS: What is a recharacterization of a rollover or a conversion? A recharacterization allows you to “undo” or “reverse” a rollover or conversion to a Roth IRA. You generally tell the trustee of the financial institution holding your Roth IRA to transfer the amount to a traditional IRA...
by rockylou
Fri Jan 06, 2017 6:33 am
Forum: Personal Finance (Not Investing)
Topic: What to do when company won't honor exchange policy/warranty?
Replies: 10
Views: 2151

Re: What to do when company won't honor exchange policy/warranty?

We had a problem with a laptop, which was beyond the 1 year warranty but within the 2 year warranty, that Maine extends for products like this. We couldn't get through to anyone at the company so I called the consumer protection division of our attorney general's office. They contacted the company a...