Search found 8216 matches

by HueyLD
Wed May 12, 2021 4:43 pm
Forum: Personal Investments
Topic: TreasuryDirect I Bond general question
Replies: 9
Views: 774

Re: TreasuryDirect I Bond general question

Some additional questions: 1. Is it possible to buy I bonds for multiple members using the same account? I purchased mine in Feb, but I would like to purchase for my spouse now. If not, is there a way to link the account so one doesn't have to keep track of multiple accounts? The Treasury Direct we...
by HueyLD
Tue May 11, 2021 10:59 am
Forum: Personal Finance (Not Investing)
Topic: No 1099 on cashed savings bonds
Replies: 18
Views: 1235

Re: No 1099 on cashed savings bonds

“ If you received less than $10 in interest from your financial institution, they're not required to send you Form 1099-INT, but you're still supposed to report the interest. Although you didn't get a 1099-INT, report the interest in the 1099-INT section: Open your return (or continue if it's not al...
by HueyLD
Tue May 11, 2021 9:48 am
Forum: Personal Finance (Not Investing)
Topic: No 1099 on cashed savings bonds
Replies: 18
Views: 1235

Re: No 1099 on cashed savings bonds

LilyFleur wrote: Mon May 10, 2021 9:54 pm I'm reviving this topic... I just realized I did not receive a 1099 for the paper EE savings bonds I cashed in last year at my credit union. How do I report this in Turbotax if I don't have a 1099? I think the interest was more than $10,000.
Contact your credit union for the 1099-INT.
by HueyLD
Mon May 10, 2021 9:39 am
Forum: Personal Investments
Topic: MYGA - Florida
Replies: 14
Views: 1937

Re: MYGA - Florida

“ So if I am reading this correctly, one could take withdrawals (the policy I am looking at allows up to 10% per year) without triggering the premium tax.”

Yes.
by HueyLD
Sun May 09, 2021 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: When do SS payments adjust for 2020 earnings?
Replies: 6
Views: 1012

Re: When do SS payments adjust for 2020 earnings?

For anyone that knows, how is one notified that their payments are being adjusted due to the increased years of relevant contributions? AERO adustments used to be made in October after the 1040 extension due date. The letter would come in late October or early November. I guess the backlog has them...
by HueyLD
Sun May 09, 2021 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax importing information from Fidelity
Replies: 7
Views: 483

Re: Turbo Tax importing information from Fidelity

neveragain wrote: Sun May 09, 2021 6:17 pm Is it safe to give Turbo Tax your account number, password, and user name to import information from Fidelity into Turbo Tax?
Change your password after the download.
by HueyLD
Sat May 08, 2021 8:40 am
Forum: Personal Consumer Issues
Topic: Do you still read the print newspaper?
Replies: 84
Views: 3176

Re: Do you still read the print newspaper?

Due to decreasing number of subscribers, my local newspaper has become too expensive @$35 per month for the print version.

Too bad because I still like flipping pages over breakfast.
by HueyLD
Thu May 06, 2021 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 IRS Identity Protection PIN & Filing 2020 Federal Taxes using H&R Block Deluxe
Replies: 3
Views: 371

Re: 2021 IRS Identity Protection PIN & Filing 2020 Federal Taxes using H&R Block Deluxe

The filing PIN has five digits while the IP PIN has six digits. There are not the same PIN. Per HRB: “Where Do I Enter My IP PIN in H&R Block Software? Open your return in the H&R Block Tax Software. Click Federal on the top navigation bar. Click Misc. Click Go To next to Miscellaneous Home....
by HueyLD
Thu May 06, 2021 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: IRS not answering the phone
Replies: 54
Views: 3302

Re: The IRS does not answer the phone

I received an amount due letter from the IRS that was incorrect. They did not include the payment I made through pay1040.com. The letter says if I don't agree with them to call 800.829.0922. I do this and after about five minutes of menus I got to the end where I get to talk with somebody but they ...
by HueyLD
Thu May 06, 2021 10:09 am
Forum: Personal Finance (Not Investing)
Topic: IRS not answering the phone
Replies: 54
Views: 3302

Re: The IRS does not answer the phone

I guess we can agree to disagree.
by HueyLD
Thu May 06, 2021 9:50 am
Forum: Personal Finance (Not Investing)
Topic: IRS not answering the phone
Replies: 54
Views: 3302

Re: The IRS does not answer the phone

Contact your congressperson or senator.
by HueyLD
Mon May 03, 2021 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning: Handling of separate property in Community Prop State (CA)
Replies: 31
Views: 2065

Re: Estate planning: Handling of separate property in Community Prop State (CA)

You’re about to do a trust, right? Answering these kind of questions are exactly what you’re paying the attorney for. I would trust the answers your own attorney gives before a bunch of strangers on the internet. When we did our trust, the attorney explained everything that was relevant to our situ...
by HueyLD
Mon May 03, 2021 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning: Handling of separate property in Community Prop State (CA)
Replies: 31
Views: 2065

Re: Estate planning: Handling of separate property in Community Prop State (CA)

Hi. We are prepping for our estate planning session in order to create a trust, etc. Live in CA. Prior to marriage in 2009, I owned assets that I brought into the marriage such as 1) my individual account at Vanguard (now an individual brokerage account), 2) half of a cabin with my brother (titled ...
by HueyLD
Sun May 02, 2021 4:12 pm
Forum: Personal Investments
Topic: IRS NOT Letting me buy $5k additional ibonds with refund (2nd Year in a row)
Replies: 9
Views: 1660

Re: IRS NOT Letting me buy $5k additional ibonds with refund (2nd Year in a row)

IRS form 8888 says: “ When your bonds won’t be issued. Your bonds won’t be issued if any of the following apply. • The bond request isn’t a multiple of $50. • Your refund is decreased because of a math error. • You enter more than one name on line 5b, 5c, 6b, or 6c. • Your refund is offset for any r...
by HueyLD
Sun May 02, 2021 10:32 am
Forum: Personal Consumer Issues
Topic: Tips for Carrying Food in Hot Climate?
Replies: 39
Views: 2794

Re: Tips for Carrying Food in Hot Climate?

squirm wrote: Sun May 02, 2021 9:39 am just grab the frozen foods last.
When it is 200 degrees inside of a car, that won’t help.

Having a cooler with lots of frozen blue ice packs works well for up to certain time frame. Again, it is temperature dependent.

Alternatively, one can go shopping at 6 a.m..
by HueyLD
Sun May 02, 2021 8:28 am
Forum: Personal Consumer Issues
Topic: Tips for Carrying Food in Hot Climate?
Replies: 39
Views: 2794

Re: Tips for Carrying Food in Hot Climate?

RickBoglehead wrote: Sun May 02, 2021 7:41 am Cooler in trunk with frozen blue ice blocks. We do that regardless of climate.
+100!
by HueyLD
Fri Apr 30, 2021 9:09 am
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

What’s the issue?

The form is for year 2020. What it means is if one cashes savings bond DURING a given year and want to fill out form 8815 for that year. The year can be year 2021.
by HueyLD
Fri Apr 30, 2021 8:58 am
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

RT said: “ May 2021, open 529 with $10,000 from taxable checking account. Correctly fill out form indicating this is a cash contribution. December 2021, Visit treasurydirect.gov and learn about Educational Savings Bond Program Redeem $10,000 in Series I Savings Bonds. March 2022, complete 2021 taxes...
by HueyLD
Fri Apr 30, 2021 8:38 am
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

See 26 U.S. Code § 135. “ (a) General rule In the case of an individual who pays qualified higher education expenses during the taxable year, no amount shall be includible in gross income by reason of the redemption during such year of any qualified United States savings bond. … (C) Contributions to...
by HueyLD
Fri Apr 30, 2021 8:26 am
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

Imagine you cashed savings bonds, the funds end up in your checking account, and you then make a contribution to the 529. At tax time, you determine you are eligible and take the education interest exclusion, completing form 8815. Unless you already knew that you were supposed to explicitly report ...
by HueyLD
Thu Apr 29, 2021 10:44 pm
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

Following. I've read through 8815 and the relevant sections in Pub 970. This seems like a loophole to me to get your savings bond into the 529 as a contribution (making the interest tax free if eligible), and then withdrawing from the 529 as a return of basis without a penalty. I do not see any ste...
by HueyLD
Thu Apr 29, 2021 9:20 pm
Forum: Investing - Theory, News & General
Topic: Savings (Series I and EE) Bonds and 529 College Savings Plans
Replies: 26
Views: 1480

Re: Savings (Series I and EE) Bonds and 529 College Savings Plans

Wiki is correct.

Take a good look at form 8815, especially lines 5,6,7 & 8.
by HueyLD
Wed Apr 28, 2021 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: HRBlock doesn't limit mortgage deduction?
Replies: 2
Views: 273

Re: HRBlock doesn't limit mortgage deduction?

Just completed (mostly, but yay!) my first draft of 1040 for tax year 2020. In the process I realized that HR Block did not appear to limit the interest deduction in line with the cap on deduction to interest from the first $700,000.Am I missing something? I would have expected HR Block to implemen...
by HueyLD
Wed Apr 28, 2021 11:01 am
Forum: Personal Finance (Not Investing)
Topic: credit card disputed charges
Replies: 13
Views: 835

Re: credit card disputed charges

How does it work if you dispute a credit card charge, and it is resolved? What does it mean when the credit card company says the dispute is resolved? Can the vender still bill you that amount? You need to call the credit card company first. Every company has its own procedures for handling dispute...
by HueyLD
Wed Apr 28, 2021 9:22 am
Forum: Personal Consumer Issues
Topic: REAL ID now set to be effective May 3 2023 UPDATE
Replies: 130
Views: 10032

Re: REAL ID now set to be effective May 3 2023 UPDATE

You asked: “ You have to do eye tests to renew your driver's license?” Absolutely, especially for those over certain age. My state says: “ You may be given a simple vision exam. If you wear prescription glasses or contact lenses for distance vision, be sure to wear them. You must have uncorrected vi...
by HueyLD
Wed Apr 28, 2021 7:57 am
Forum: Personal Consumer Issues
Topic: REAL ID now set to be effective May 3 2023 UPDATE
Replies: 130
Views: 10032

Re: REAL ID now set to be effective May 3 2023 UPDATE

I am so glad that I renewed my DL in year 2019 to an “optional” REAL ID. The requirements were easy to follow and I was able to fill out the paperwork online before showing up at the DMV.

I expect my future renewals will retain the “gold star” status because anything else would be silly.
by HueyLD
Sat Apr 24, 2021 7:56 pm
Forum: Personal Investments
Topic: taxation of a Vanguard Variable Annuity payout
Replies: 2
Views: 295

Re: taxation of a Vanguard Variable Annuity payout

If the owner of a Vanguard Variable Annuity designates someone else as the annuitant, who is liable for income tax on the payout, the owner or the annuitant? According to VVA prospectus: (1) You, as the contract owner, pays taxes on withdrawals, including full, partial or systematic withdrawals. (2...
by HueyLD
Thu Apr 22, 2021 3:52 pm
Forum: Personal Investments
Topic: Inherited Annuity Transfer Options & Annuity Type Suggestions
Replies: 4
Views: 365

Re: Inherited Annuity Transfer Options & Annuity Type Suggestions

I am inheriting several annuities, one of which is a non-qualified variable annuity. The total beneficiary amount is $150k and the basis is about $50k. I'm in a high tax bracket and would prefer to defer payment until after I retire and my income is much lower. Unfortunately this annuity does not h...
by HueyLD
Thu Apr 22, 2021 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Gift amount from a joint trust
Replies: 8
Views: 575

Re: Gift amount from a joint trust

If we’re talking about a living trust, this is the same as the trust holding a checking account. One person could write a check for 30,000 or each of them could write a check for 15,000. A check from a separate property checking account is not a gift from both (without an agreement to gift split, w...
by HueyLD
Tue Apr 20, 2021 9:12 pm
Forum: Investing - Theory, News & General
Topic: I Bonds variable rate @ 3.54% in May
Replies: 185
Views: 25189

Re: I Bonds variable rate @ 3.54% in May

TD is not the IRS.

You select the tax reporting option on form 1040.
by HueyLD
Tue Apr 20, 2021 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Received a "surprise" $13,000 IRS refund check on 2018 taxes. Please advise.
Replies: 59
Views: 6614

Re: Received a "surprise" $13,000 IRS refund check on 2018 taxes. Please advise.

texasgal47 wrote: Tue Apr 20, 2021 8:06 pm No, the 1040 clearly shows QCD in the taxable amount.
The amount of QCD should not be included as taxable income!
by HueyLD
Tue Apr 20, 2021 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Received a "surprise" $13,000 IRS refund check on 2018 taxes. Please advise.
Replies: 59
Views: 6614

Re: Received a "surprise" $13,000 IRS refund check on 2018 taxes. Please advise.

Texasgal,

Did you donate about $30,000 to charities using QCD withdrawal from your IRAs? Did you by any chance report the $30k as income in error?
by HueyLD
Tue Apr 20, 2021 5:23 pm
Forum: Personal Investments
Topic: Cannot cancel Vanguard Treasury order
Replies: 5
Views: 958

Re: Cannot cancel Vanguard Treasury order

Vanguard says:

“ After the trade: Changing your mind

You can cancel a trade online through the Order status link or by calling us.
We'll do our best to meet your request but can't guarantee that a given trade can be changed or canceled, especially during volatile markets.”

Give Vanguard a call.
by HueyLD
Tue Apr 20, 2021 12:35 pm
Forum: Personal Investments
Topic: What is Fidelity's "deferred annuity"?
Replies: 12
Views: 1399

Re: What is Fidelity's "deferred annuity"?

— Distributions from the IRA are taxed as pro rated between basis and earnings; distributions from the annuity are earnings first until exhausted, then basis. One exception. If one annuitizes the VA in lieu of withdrawing random amounts, the annuity payments will include pro rated basis and earning...
by HueyLD
Sun Apr 18, 2021 1:44 pm
Forum: Personal Consumer Issues
Topic: Snowbirds establishing FL residency from Northeast- Residency audits
Replies: 81
Views: 7953

Re: Snowbirds establishing FL residency from Northeast- Residency audits

A family member moved from a well known high tax state to a low tax state and sold her home, etc. in the high tax state. And she established her domicile in the new state by following the rules carefully. However, her children and grandchildren are still in the high tax state and she returns there o...
by HueyLD
Sun Apr 18, 2021 11:34 am
Forum: Investing - Theory, News & General
Topic: EM has concentrated risk in china/taiwan
Replies: 42
Views: 3223

Re: EM has concentrated risk in china/taiwan

(Note: This is not intended as a political post - I'm just stating a couple of important facts that are germane to the overall discussion.) Why are people lopping together Taiwan and China as if they are one entity in the EM Index country weightings? Taiwan has had its own currency since 1949 and i...
by HueyLD
Sun Apr 18, 2021 9:30 am
Forum: Investing - Theory, News & General
Topic: Problem with allocation of mobile check at vanguard
Replies: 11
Views: 725

Re: Problem with allocation of mobile check at vanguard

With a brokerage account, deposits have to go thru the settlement account first. Mobile deposits require additional time for collection. Even Fidelity can hold your mobile deposit for up to four business days. “ Deposits are generally available for withdrawal or to purchase securities online within ...
by HueyLD
Sun Apr 18, 2021 8:29 am
Forum: Investing - Theory, News & General
Topic: Problem with allocation of mobile check at vanguard
Replies: 11
Views: 725

Re: Problem with allocation of mobile check at vanguard

Previously when I made a mobile check deposit through vanguard app on my phone into my taxable account and indicated which funds the money needs to be allocated into ; it used to be done same day . But now vanguard will only deposit it in settlement fund and then I have to wait till it shows up in ...
by HueyLD
Sat Apr 17, 2021 12:50 pm
Forum: Personal Investments
Topic: Turning over accounts to 18 year old
Replies: 13
Views: 1342

Re: Turning over accounts to 18 year old

tenkuky wrote: Sat Apr 17, 2021 11:54 am State allows transferor to choose either 18 or 21 as age of transfer.
Are you in California?
by HueyLD
Thu Apr 15, 2021 10:21 am
Forum: Investing - Theory, News & General
Topic: Your bond fund should have barely enough for reasonable rebalancing. The rest of your fixed income should be in MYGAs.
Replies: 42
Views: 5879

Re: Your bond fund should have barely enough for reasonable rebalancing. The rest of your fixed income should be in MYGA

How one go about buying MYGA in MA? There are a number of online sources. Go to blueprintincome.com Thanks Stinky, B++ MYGA for my state pays 2.8% for 5 years. B+ MYGA pays 3% for 5 years I wouldn't go over my state guarantee association's max. For Commonwealth of MA: “ Are all policies fully prote...
by HueyLD
Wed Apr 14, 2021 2:59 pm
Forum: Personal Investments
Topic: Is there any basis step up in a 1035 annuity exchange?
Replies: 10
Views: 491

Re: Is there any basis step up in a 1035 annuity exchange?

Same answer. 1031 exchange involves real estate. OP asked about a simple 1035 exchange between two VA policies.

Apple and orange.
by HueyLD
Wed Apr 14, 2021 2:34 pm
Forum: Personal Investments
Topic: Is there any basis step up in a 1035 annuity exchange?
Replies: 10
Views: 491

Re: Is there any basis step up in a 1035 annuity exchange?

I bought a variable annuity in 1995 from company X with $50,000 in one purchase. I have never put any more into it. In 2010 I did a 1035 to a Vanguard annuity. At that time, it was worth $125,000. (I’m using fake numbers just for the question.) Today, it is worth $200,000. When I begin to take mone...
by HueyLD
Wed Apr 14, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: anyone know why the answers are so different between taxcaster and turbo taxes cap gains tax calcuator?
Replies: 20
Views: 732

Re: anyone know why the answers are so different between taxcaster and turbo taxes cap gains tax calcuator?

Taxslayer won the prize. thanks. good to know. All you need to do is to manually work thru the Qualified Dividend and Capital Gain Tax Worksheet. In a nutshell: $24,800 of LTCG is taxed at zero%. $55,250 of LTCG is taxed at 15% = 8,280 in tax $55,250 of ordinary income is taxed at 10% and 12% = 6,2...
by HueyLD
Wed Apr 14, 2021 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Transferring stocks from Joint account to Individual account
Replies: 8
Views: 708

Re: Transferring stocks from Joint account to Individual account

This thread makes me wonder. If you transfer stock from a joint account to an individual and you are the beneficiary upon death, is there a STEP UP in the cost basis if it moves back to you upon death? Seems like this would present an easy way to "Game" the Long term Capital Gains Tax If ...
by HueyLD
Tue Apr 13, 2021 10:27 pm
Forum: Investing - Theory, News & General
Topic: 2021 I Bonds: what's your plan?
Replies: 222
Views: 28123

Re: 2021 I Bonds: what's your plan?

tfb wrote: Tue Apr 13, 2021 10:05 pm
tipswatcher wrote: Tue Apr 13, 2021 8:06 pm The fixed rate could be odd or even
I thought the fixed rate had always been only one decimal place, i.e. even when taken to two decimal places.
Yes, they are. All the way back to 1998.

https://www.treasurydirect.gov/indiv/re ... dterms.htm
by HueyLD
Tue Apr 13, 2021 9:30 pm
Forum: Investing - Theory, News & General
Topic: Cons of i bonds?
Replies: 113
Views: 12409

Re: Cons of i bonds?

SnowBog said: “ But you could list your trust as secondary owner...”

No no!! A secondary owner must be an INDIVIDUAL.

“ The purchaser must be named in the registration as the primary owner with another individual as secondary owner.”.

https://www.law.cornell.edu/cfr/text/31/363.20