Search found 923 matches

by Almost there
Tue Mar 17, 2020 2:27 pm
Forum: Investing - Theory, News & General
Topic: Suspension of RMDs in 2008: Historical Perspective
Replies: 25
Views: 944

Re: Suspension of RMDs in 2008: Historical Perspective

Alan S. wrote: The RMD waiver of 2009 was largely a fairness issue: 1) The 2008 financial meltdown was addressed by massive corporate bailouts and the "financial repression" savers and many seniors suffered from the large interest rate cuts used to stimulate the economy. The idea was to stimulate sp...
by Almost there
Thu Feb 20, 2020 2:20 pm
Forum: Investing - Theory, News & General
Topic: Total Stock Market Index - Section 199A dividends this year
Replies: 169
Views: 20500

Re: Total Stock Market Index - Section 199A dividends this year

Makefile wrote: This situation would be an opportunity to do Roth conversions at an 8% tax rate, no? Maybe so but not for me since I live just on Social Security and my RMDs are close to $20K. When I looked into doing backdoor Roth conversions, it would have been $1,000 for $5,000 conversion. Much t...
by Almost there
Thu Feb 20, 2020 1:28 pm
Forum: Investing - Theory, News & General
Topic: Total Stock Market Index - Section 199A dividends this year
Replies: 169
Views: 20500

Re: Total Stock Market Index - Section 199A dividends this year

JonnyB wrote: It is quite possible for retired people to have no qualified income to deduct from since they have no earnings and their other ordinary income is zero after subtracting the standard deduction. That is, the income limitation on line 14 of Form 8995 is z Though I am retired and have no i...
by Almost there
Tue Feb 18, 2020 1:12 pm
Forum: Investing - Theory, News & General
Topic: Total Stock Market Index - Section 199A dividends this year
Replies: 169
Views: 20500

Re: Total Stock Market Index - Section 199A dividends this year

CoastalWinds wrote: What were the amounts on your Form 1040 Line 3a and Line 6? Did you file Schedule D? 1040 Line 3a: 1393 (from 1099-DIV, Box 1b from Total Stock VTSAX) Line 6: 85 (from 1099-DIV, Box 2a from Long-term Tax-exempt fund VWLTX) I have not filed as yet since HRB is indicating another u...
by Almost there
Tue Feb 18, 2020 12:57 pm
Forum: Investing - Theory, News & General
Topic: At what age did you begin adding bonds?
Replies: 138
Views: 7347

Re: At what age did you begin adding bonds?

When I started investing, I always had bonds in my portfolio, but don't remember the ratio.
Then when I retired I switched to 60/40 and now, 6 years later, switched to 50/50.

Almost there
by Almost there
Mon Feb 17, 2020 8:47 pm
Forum: Investing - Theory, News & General
Topic: Total Stock Market Index - Section 199A dividends this year
Replies: 169
Views: 20500

Re: Total Stock Market Index - Section 199A dividends this year

From: 2019 1099-DIV for VTSAX-Total Stock received from Vanguard Box 1a: 1,485.25 Box 1b: 1,393.02 Box 5: 86.89 All other boxes: 0 From: Form 8995 and given by HRB: Line 1-5: 0 Line 6: 87 Line 7: 0 Line 8: 87 Line 9: 17 Line 10: 17 Line 11: 10,353 Line 12: 1,478 Line 13: 8,875 Line 14: 1,775 Line 1...
by Almost there
Sat Feb 15, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified business income deduction in HRB
Replies: 4
Views: 408

Re: Qualified business income deduction in HRB

I would like a moderator to close my post, since this is already being discussed in another post.
by Almost there
Fri Feb 14, 2020 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified business income deduction in HRB
Replies: 4
Views: 408

Qualified business income deduction in HRB

I use HRB, which just updated today, and it now includes the following: You’re getting the new qualified business income deduction! Rest estate investment trust (REIT) dividends $87 Total qualified business income $87 Taxable income minus net capital gains $8,875 Your 2019 deduction $17 Now I ran no...
by Almost there
Tue Jan 07, 2020 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Opportunity cost of helping out relatives
Replies: 54
Views: 4964

Re: Opportunity cost of helping out relatives

Sometimes it is better for a future recipient to have to work for it instead of receiving the money. I agree with Watty who wrote:Giving something like $500 in tools to get him started on the work might really help him and might not seem overly generous. So help buying the needed to tool ($500?) mig...
by Almost there
Tue Jan 07, 2020 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: How do you manage cash flow from your nest egg?
Replies: 18
Views: 2199

Re: How do you manage cash flow from your nest egg?

albireo13 wrote: I am approaching retirement (6 months) and am thinking towards the future. I am 64 yo. I will retire first, my wife 3 yrs later. The bulk of our financial assets are in tax-deferred accounts ... tIRA, 401K, Roth IRA, 403b. We will have modest pensions, plus SS, but 70% of our income...
by Almost there
Tue Jan 07, 2020 7:59 pm
Forum: Investing - Theory, News & General
Topic: 2020 Bogleheads Conference and Survey
Replies: 65
Views: 7946

Re: 2020 Bogleheads Conference and Survey

Is the location a secret or will it again be in Philly?
by Almost there
Tue Dec 24, 2019 10:37 am
Forum: Investing - Theory, News & General
Topic: Big drop in TRRBX today [T. Rowe Price Retirement 2020 Fund]
Replies: 8
Views: 1031

Re: Big drop in TRRBX today

Why hasn’t someone added the fund’s name?
by Almost there
Mon Dec 23, 2019 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit
Replies: 14
Views: 846

Re: American Opportunity Tax Credit

Is that for me to use or for my granddaughters?
by Almost there
Mon Dec 23, 2019 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit
Replies: 14
Views: 846

Re: American Opportunity Tax Credit

Thank you MathWizard. I don't know the answers to those questions. I will ask both of my (twin) granddaughters the questions you posed since both are attending college. Their mother is not good with finances and their father (my son) was killed while they were little. Both of them work very hard so ...
by Almost there
Mon Dec 23, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit
Replies: 14
Views: 846

Re: American Opportunity Tax Credit

Thank you all. Yes, you already mentioned it. The only thing that doesn't apply is: The eligible student is either yourself, your spouse, or a dependent you claim on your tax return. My granddaughter receives almost a full scholarship and I paid the difference. But it's ok. More important was that I...
by Almost there
Mon Dec 23, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit
Replies: 14
Views: 846

American Opportunity Tax Credit

I sent money directly to my granddaughter's university for her Fall semester. Can I take advantage of the American Opportunity Tax Credit?

Almost there
by Almost there
Sun Dec 15, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Correct. Received the disk too but it didn’t include the state. Are they trying to outsmart us?
by Almost there
Tue Dec 03, 2019 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

I have always used discs and have kept them all and they are also on my computer. Has never really been a problem.

Almost there
by Almost there
Mon Dec 02, 2019 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

TX Jeff: why don’t you buy the disc version which is on sale today and have it send to your home?
by Almost there
Mon Dec 02, 2019 8:03 am
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Yes I received my CamelCamelCamel notification this morning and will order the disc.
by Almost there
Thu Nov 28, 2019 11:05 am
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Dodecahedron: So what was your final price?

Almost there
by Almost there
Mon Nov 25, 2019 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

I’m still waiting to hear back from HRB whom I contacted via Facebook.
by Almost there
Thu Nov 14, 2019 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Gift to granddaughter
Replies: 11
Views: 1061

Re: Gift to granddaughter

The money she owes is for housing and she won’t have that expense next year since she will be living at home. (Just recently her Mom moved closer to the college and she’s receiving a full scholarship). So a 529 won’t be necessary.
by Almost there
Thu Nov 14, 2019 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Gift to granddaughter
Replies: 11
Views: 1061

Re: Gift to granddaughter

Thank you Stinky for your kind words. I guess it’s called: Paying forward. :happy
by Almost there
Thu Nov 14, 2019 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Gift to granddaughter
Replies: 11
Views: 1061

Re: Gift to granddaughter

Thank you for all of your kind words. Truly appreciate it. I will also tell her about the interest.

PS. She is a twin and both are going to different, local colleges. And they are truly special girls or young adults now.
by Almost there
Thu Nov 14, 2019 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Gift to granddaughter
Replies: 11
Views: 1061

Re: Gift to granddaughter

Thank you Silk. Just wondered but I will help her out anyway.
by Almost there
Thu Nov 14, 2019 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Gift to granddaughter
Replies: 11
Views: 1061

Gift to granddaughter

My granddaughter is in college and still owes about $10,000. If I pay the debt off for her, can I take the payment off my federal income taxes? This would not be a deal breaker, just want to know in advance before sending the check to the college.
by Almost there
Wed Nov 13, 2019 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Avei: I have been on FB chat with H&R Block. Perhaps you can reach them there and write down the problems you experienced. But first connect with them on FB.
by Almost there
Wed Nov 13, 2019 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Thank you. The website is for the 2018 version. Will find it myself.
by Almost there
Wed Nov 13, 2019 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Dodecahedron wrote about camel camel camel. I couldn’t find the app. Does it have a different name?
by Almost there
Wed Nov 13, 2019 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

When does Amazon usually list their special price offer?
by Almost there
Wed Nov 13, 2019 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: H&R BLOCK Pre-Order 2019 Software Offer
Replies: 317
Views: 27909

Re: H&R BLOCK Pre-Order 2019 Software Offer

Find HRB on Facebook and report it there.
by Almost there
Mon Oct 28, 2019 10:32 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

Thank you HomeStretch. I only receive Social Security, so nothing will change there. I feel the same. I don’t see the benefit of doing the conversion.
by Almost there
Mon Oct 28, 2019 6:19 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

Silk McCue wrote: Edit: Go back and add in $1000 at a time to see if there is a level to which conversions would make sense. Calculate the incremental taxation for each run. You may learn something of benefit. My RMD for 2019 is: $16,039, taxes approximately $1,000. After my RMD, I'm planning the Ro...
by Almost there
Thu Oct 24, 2019 10:17 am
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Thank you. I used their 2019 calculator.
by Almost there
Wed Oct 23, 2019 8:56 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Silk McCue wrote: Edit: Go back and add in $1000 at a time to see if there is a level to which conversions would make sense. Calculate the incremental taxation for each run. You may learn something of benefit. Great idea. I followed your advise and it was an eye opener. I built a small spreadsheet a...
by Almost there
Tue Oct 22, 2019 7:03 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Thank you Silk McCue. With $17,000 RMD I am paying $1,000 on taxes. With almost doubled ($30,000) it is $3,919. Triple the amount for $13,000 more. So it isn't worth it to do the RMD. Wondering then why people are doing the conversion? What's the difference? Perhaps they have not started collecting ...
by Almost there
Tue Oct 22, 2019 6:27 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Silk McCue wrote: Something is wrong with your math. Total income was $23,383 and you added $13,000. That doesn’t equal $49,211. There is something missing. Where does SS show up in these numbers? Suggest you run through the numbers again. Cheers Ran the 1040 Calculator again and it spit out this re...
by Almost there
Tue Oct 22, 2019 5:35 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

bhluckyusaguy wrote: Yes. This is where you would add the amount for the Roth conversion. For example, if your RMD is $15,000 and your Roth conversion is $10,000, you would enter $25,000. You can change the Roth conversion amount to determine how it affects you MAGI/taxes/IRMMA. My RMD this year is ...
by Almost there
Tue Oct 22, 2019 4:05 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Below is the 1040 tax calculator I have used a number of times and found quite helpful and accurate. https://www.dinkytown.net/java/1040-tax-calculator-tax-year-2018.html Under INCOME , go to Taxable IRA distribution . Here I would normally add my RMD amount. Now if I am choosing a Roth Conversion, ...
by Almost there
Mon Oct 21, 2019 3:17 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

So when I’m done with my RMD, I can transfer $$ from my IRA to my Roth. How do I determine that the amount is not too high as to jeopardize my Medicare amount?
by Almost there
Tue Oct 15, 2019 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: What’s the proper way to pay yourself in retirement?
Replies: 66
Views: 9026

Re: What’s the proper way to pay yourself in retirement?

When I retired, I withdrew money from my taxable account. Last year I started my RMD and used about half of it for major house expenses or vacation (nothing fancy). The rest goes into my Total Stock VTSAX taxable account. I pay taxes on the withdrawal from my Social Security.
by Almost there
Thu Oct 10, 2019 5:04 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

Homestretch wrote: It’s not difficult to enter a Roth conversion in TurboTax. Here’s a link on how to do it: https://ttlc.intuit.com/community/enter ... /25567/amp Thank you for the link, which I will put to good use. bhluckyusaguy wrote: Edit/P.S. I see I did not interpret your OP correctly. You we...
by Almost there
Thu Oct 10, 2019 4:15 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

Thank you, bhluckyusaguy. Will look into it.
by Almost there
Thu Oct 10, 2019 3:36 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

I always thought you could do a conversion since so many retire at age 65/66 and will do conversions prior to the start of their RMD. bhluckyusaguy wrote: My understanding is you can do a RMD and Roth conversion in the same year, however you must do the RMD first. Then you can do the Roth conversion...
by Almost there
Thu Oct 10, 2019 2:37 pm
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

bhluckyusaguy wrote: My understanding is you can do a RMD and Roth conversion in the same year, however you must do the RMD first. Then you can do the Roth conversion. To calculate the taxes due, just add the amount of the conversion to your tax software to figure the amount of the additional taxes ...
by Almost there
Thu Oct 10, 2019 10:57 am
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

Re: RMD to Roth?

No. Just receiving Social Security.
by Almost there
Thu Oct 10, 2019 9:51 am
Forum: Investing - Theory, News & General
Topic: RMD to Roth?
Replies: 33
Views: 4066

RMD to Roth?

Last year I did my first RMD of $17,000 and transferred it from Total Stock VTSAX to my Total Stock in my brokerage account. My taxes were $1075. Wondering if this year I should transfer it to my Roth? How do I figure out how much I will be paying for this conversion?