Search found 92 matches

by rockylou
Wed Mar 27, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question about schedule K-1
Replies: 1
Views: 297

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: 230

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: 6164

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: 614

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: 614

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: 574

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: 574

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: 813

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: 813

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: 2136

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: 4643
Views: 1197896

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: 413

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: 413

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: 604

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: 604

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: 604

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: 6438

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: 5533

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: 1744

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: 1744

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: 1744

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: 2873

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: 13223

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: 6491

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: 1615

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: 620

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: 620

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: 1206

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: 1206

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: 1206

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: 1206

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: 1999

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...
by rockylou
Thu Jan 05, 2017 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes
Replies: 25
Views: 4358

Re: Estimated taxes

Thanks, The rest of the taxes ($3568) came out of my State pension. I assume I can just go with what turbotax says I owe, the draft return I did showed a penalty of $12, not sure how they came up with that but that sounds ok to me
by rockylou
Thu Jan 05, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes
Replies: 25
Views: 4358

Re: Estimated taxes

Thanks for the responses, very helpful. I converted $40,000 in January 2016, 5,000 in June and 7,000 in December so I may have a penalty. I also sold some mutual funds in July ($3400 gain, all but $23 LT gain) and thought I was keeping income at 15% bracket so would not have to pay taxes on that but...
by rockylou
Thu Jan 05, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes
Replies: 25
Views: 4358

Estimated taxes

I did estimated taxes in 2016 for the first time because we converted TIRA to Roth. I made payments in march, June and September 2016 $1250 each quarter. I just tried putting what info i could determine in turbotax and I think I underestimated as I will owe about an additional $1821 on taxes if I do...
by rockylou
Thu Dec 29, 2016 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Turbotax
Replies: 4
Views: 980

Re: Turbotax

Thanks, that will save me some $!!
by rockylou
Wed Dec 28, 2016 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax
Replies: 4
Views: 980

Turbotax

I usually use deluxe turbotax but I did sell some mutual funds this year. Will I be able to use deluxe or do I need to get premier? Thanks
by rockylou
Wed Dec 21, 2016 6:30 pm
Forum: Personal Consumer Issues
Topic: Help choosing a mattress
Replies: 38
Views: 6582

Re: Help choosing a mattress

The spring air was $700, the Serta $900. The tempur-pedic would be about $1700 and the sealy posturepedic hybrid about $1400 with box spring
by rockylou
Wed Dec 21, 2016 11:03 am
Forum: Personal Consumer Issues
Topic: Help choosing a mattress
Replies: 38
Views: 6582

Re: Help choosing a mattress

Thanks for all the replies, very helpful. Unfortunately, we have to go with Mattress Firm company for the credit. I think narrowed down to sealy posturepedic hybrid or tempur-pedic tempur cloud (I think their cheapest one). sleeplikethedead website is most helpful, thanks for that tip! If anyone has...
by rockylou
Wed Dec 21, 2016 6:10 am
Forum: Personal Consumer Issues
Topic: Help choosing a mattress
Replies: 38
Views: 6582

Re: Help choosing a mattress

Thank you so much, I will check that out, I hadn't seen this website
by rockylou
Tue Dec 20, 2016 6:34 pm
Forum: Personal Consumer Issues
Topic: Help choosing a mattress
Replies: 38
Views: 6582

Help choosing a mattress

We bought a new mattress (Spring Air Arden plush) at Sleepys in June and hated it as when one of us moved, the other one felt it so we asked for comfort exchange and chose a different mattress (Serta perfect sleeper LXP) at salesperson's suggestion. He said the coils were individual or something but...
by rockylou
Sun Dec 04, 2016 7:48 pm
Forum: Personal Consumer Issues
Topic: Martinique
Replies: 7
Views: 1426

Re: Martinique

Thanks, all of the comments are very helpful!
by rockylou
Sat Dec 03, 2016 6:49 am
Forum: Personal Consumer Issues
Topic: Martinique
Replies: 7
Views: 1426

Martinique

We are thinking of spending a week this winter in Martinique as the flights are so cheap from Boston. If anyone has been there, do you have any suggestions on good beaches for swimming? We are planning to rent a house through VRBO. Thanks
by rockylou
Wed Jul 06, 2016 7:29 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3914
Views: 1120191

Re: What Book Are You Currently Reading? Part VI

Just finished The Rent Collector, great book, hard to put down. People living in the dump in Cambodia
by rockylou
Thu Jun 30, 2016 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Dividends from IRA
Replies: 1
Views: 329

Dividends from IRA

I am retired and thinking of starting to use the dividends from my total bond fund, which is in my TIRA. Would this be taxed at rate for dividends or income? Thanks
by rockylou
Thu Jun 02, 2016 7:38 pm
Forum: Personal Consumer Issues
Topic: Recall: Subaru 2015, 2016 & 2017 Legacy & Outback steering
Replies: 59
Views: 9497

Re: Recall: Subaru 2015, 2016 & 2017 Legacy & Outback steering

We had the oil consumption problem with our 2013 outback. The dealer did 4 oil consumption tests and every time said it was within acceptable limits. The oil light came on twice. We called Subaru of America to complain. I told them we did not trust the vehicle and wanted to trade it in and would try...
by rockylou
Thu Apr 28, 2016 4:48 am
Forum: Personal Consumer Issues
Topic: Budapest
Replies: 10
Views: 1492

Re: Budapest

Thanks so much for all the suggestions, very helpful
by rockylou
Wed Apr 27, 2016 7:07 pm
Forum: Personal Consumer Issues
Topic: Budapest
Replies: 10
Views: 1492

Budapest

We are taking a Viking cruise in August starting in Budapest and cruise on Danube through Austria to Passau Germany. We will be in Budapest fist two days and will see Pest's national opera house, Fisherman's bastion, and Matthias church. We can go 2 days early to spend 4 days there before cruise, fo...
by rockylou
Sat Apr 09, 2016 7:31 pm
Forum: Personal Consumer Issues
Topic: Help with cleaning glass shower doors
Replies: 32
Views: 3966

Re: Help with cleaning glass shower doors

You might check ou Everyday cheapskate's website. She has lot of good ideas. http://www.everydaycheapskate.com/home-and-family/how-to-make-ugly-soap-scum-mildew-and-water-marks-disappear-like-magic/?utm_source=Everyday+Cheapskate&utm_campaign=307645abf9-&utm_medium=email&utm_term=0_3eccb93339-307645...