Search found 8185 matches

by HueyLD
Tue Apr 20, 2021 9:12 pm
Forum: Investing - Theory, News & General
Topic: I Bonds variable rate @ 3.54% in May
Replies: 113
Views: 13209

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: 38
Views: 2951

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: 38
Views: 2951

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: 1
Views: 359

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: 11
Views: 1163

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: 65
Views: 5539

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: 39
Views: 2702

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: 678

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: 678

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: 1311

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: 5584

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: 481

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: 481

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: 693

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: 679

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: 204
Views: 24551

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: 11883

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
by HueyLD
Tue Apr 13, 2021 8:58 pm
Forum: Investing - Theory, News & General
Topic: Cons of i bonds?
Replies: 113
Views: 11883

Re: Cons of i bonds?

That’s a very important function of a trust.

You must have a good reason to create a trust and I assume that it will be a revocable living trust. Yes, transfer all non-retirement assets to your trust so that you don’t waste money creating the RLT. Let the RLT do what it is supposed to do.
by HueyLD
Tue Apr 13, 2021 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring stocks from Joint account to Individual account
Replies: 8
Views: 679

Re: Transferring stocks from Joint account to Individual account

palciparum wrote: Tue Apr 13, 2021 8:23 pm I want to transfer stocks held in our combined account in vanguard to her individual account in ameritarde. Hence wondering if any tax implications?
Do you live in a community property state?
by HueyLD
Tue Apr 13, 2021 8:42 pm
Forum: Investing - Theory, News & General
Topic: Cons of i bonds?
Replies: 113
Views: 11883

Re: Cons of i bonds?

WolfgangPauli asked: “ Are you sure about that? I believe they go by SSN and since your SSN is tied to both you personally and your trust I think you may be overbuying. Can you reference something that would tell us what you are doing works? - I mean I do not doubt that you can do it as they likely ...
by HueyLD
Tue Apr 13, 2021 1:17 pm
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: 5584

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

My limited understanding of MYGAs is that they pay a fairly minimal (1%) commission to anyone selling them. As a buyer of the MYGA you don't save anything if you buy them directly or pay extra going through someone collecting a commission. At least that is what I've been told. “ Yes, we do make a c...
by HueyLD
Tue Apr 13, 2021 10:59 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: 5584

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

I'm currently a fan of MYGAs. As I have mentioned elsewhere, I have constructed a "MYGA ladder" of various maturities for myself, similar to a CD ladder. I also hold bond funds, but my MYGA balance is currently larger than my bond fund balance. My MYGA purchases began about six months ago...
by HueyLD
Tue Apr 13, 2021 10:42 am
Forum: Investing - Theory, News & General
Topic: 2021 I Bonds: what's your plan?
Replies: 204
Views: 24551

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

I personally don't see any reason to wait until May; I'm planning on buying my annual limit on April 30. There is a 0% chance that Treasury will increase the fixed rate in May. If you buy on April 30, hold for 14 months + 1 day, and sell on July 1, 2022, you're guaranteed minimum return is roughly ...
by HueyLD
Tue Apr 13, 2021 8:30 am
Forum: Investing - Theory, News & General
Topic: Cons of i bonds?
Replies: 113
Views: 11883

Re: Cons of i bonds?

With March 2021 non-seasonally adjusted CPI-U of 264.877, the new composite rate will be 3.54% with fixed rate of zero.
Woo hoo!

P.s. 264.877 - 260.280 = 4.597 / 260.280 = 1.77% x 2 = 3.54%

https://www.bls.gov/news.release/pdf/cpi.pdf
by HueyLD
Mon Apr 12, 2021 12:47 pm
Forum: Investing - Theory, News & General
Topic: [Is it a good time to buy I bonds?]
Replies: 63
Views: 941

Re: I Bonds

I am considering buying savings bonds, too. I was thinking to go with EE bonds as they are guaranteed to double in 20 years, which is a ~3.5% annual interest rate. I bonds don't have that guarantee, so are people favoring I bonds because they assume that inflation will be substantial and they will ...
by HueyLD
Mon Apr 12, 2021 12:45 pm
Forum: Investing - Theory, News & General
Topic: [Is it a good time to buy I bonds?]
Replies: 63
Views: 941

Re: I Bonds

Anon investor, See this very good article https://www.savingforcollege.com/article/how-to-rollover-us-savings-bonds-into-a-529-plan “ If the total proceeds from redeeming eligible U.S. savings bonds is less than or equal to the adjusted qualified education expenses, then the savings bond interest is...
by HueyLD
Mon Apr 12, 2021 8:00 am
Forum: Personal Investments
Topic: I Bonds [Can we buy in our kids' names?]
Replies: 22
Views: 5832

Re: I Bonds

Does each SSN have its own account with different logins, etc. or can I use one login to rule them all? Thanks. As far as I know, the account number is the login ID, so you get one per SSN. Thanks for your response You can get more than one login per SSN. One for you as an individual. Another one f...
by HueyLD
Mon Apr 12, 2021 5:51 am
Forum: Personal Investments
Topic: Creating revocable trust just for buying I Bonds?
Replies: 29
Views: 1979

Re: Creating revocable trust just for buying I Bonds?

SnowBog said: “ In the individual account, the bonds are titled for co-owners of "SnowBog" and "spouse".” Please note there is no co-ownership registration for electronic savings bonds on TD. The buz word is “primary owner” WITH “secondary owner” and the secondary owner has no re...
by HueyLD
Sun Apr 11, 2021 9:15 pm
Forum: Personal Investments
Topic: Creating revocable trust just for buying I Bonds?
Replies: 29
Views: 1979

Re: Creating revocable trust just for buying I Bonds?

Ultimately we have a TD account each plus a TD account for each of our living trusts; for each spouse that means 2 accounts tied to the same SSN. All 4 accounts are tied to and funded from the same joint "checking" account. So far this has not been a problem. Did everything online, no ext...
by HueyLD
Sun Apr 11, 2021 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Social security survivor benefits
Replies: 4
Views: 639

Re: Social security survivor benefits

Does she receive a pension based on earnings not subject to social security? “The Government Pension Offset (GPO) applies to a spouse's Social Security benefit for any month the spouse receives a pension based upon his or her own government employment not covered under Social Security. ... A pension...
by HueyLD
Sun Apr 11, 2021 2:43 pm
Forum: Personal Investments
Topic: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas
Replies: 145
Views: 9929

Re: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas

Indexfundfan said: “ When I applied in Jan, Canvas does not allow you to specify a contingent beneficiary in the application. And it's been a pain for me trying to add the contingent beneficiary after the policy was issued.”

What is the pain?
by HueyLD
Sun Apr 11, 2021 11:52 am
Forum: Personal Investments
Topic: Annuity statement. Not sure how this works?
Replies: 27
Views: 1635

Re: Annuity statement. Not sure how this works?

The OP commented further that: “ The amount that was purchased was much higher than the $6000 IRA limit, and it was done all at once, so I assume it's a non-IRA variable annuity? What's funny is on the statement, it has a "Retirement Reserves Contract Number".” Oops, it looks like Fido’s m...
by HueyLD
Sun Apr 11, 2021 10:49 am
Forum: Personal Consumer Issues
Topic: USPS Delivery issues
Replies: 35
Views: 2562

Re: USPS Delivery issues

Have you called the TSP? Try that on Monday because they do answer the phone.
by HueyLD
Sun Apr 11, 2021 10:45 am
Forum: Personal Investments
Topic: Annuity statement. Not sure how this works?
Replies: 27
Views: 1635

Re: Annuity statement. Not sure how this works?

Oicuryy wrote: Sun Apr 11, 2021 10:44 am Should we tell him about the 10% tax penalty on early withdrawals?

Ron
Yes, absolutely!
by HueyLD
Sun Apr 11, 2021 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Social security survivor benefits
Replies: 4
Views: 639

Re: Social security survivor benefits

YOUR OWN government pension will not affect survivor benefits.

However, if the survivor also receives government pension, the the GPO will apply.

https://www.ssa.gov/pubs/EN-05-10045.pdf

https://www.ssa.gov/pubs/EN-05-10007.pdf
by HueyLD
Sun Apr 11, 2021 6:06 am
Forum: Personal Investments
Topic: I Bonds [Can we buy in our kids' names?]
Replies: 22
Views: 5832

Re: I Bonds

Hi All, We have a couple of CDs maturing and thinking about using those funds to invest in I Bonds. Given the 10K limit, can we also invest in our kids names or do you see any issues with that? Per Treasurydirect.gov: “ You can give gift bonds to adults or children. A child under 18 can have a Trea...
by HueyLD
Sat Apr 10, 2021 8:33 pm
Forum: Personal Investments
Topic: Annuity statement. Not sure how this works?
Replies: 27
Views: 1635

Re: Annuity statement. Not sure how this works?

SO has an annuity that she’s had since childhood. Received a statement in the mail this month. Surprisingly, the statement is from Fidelity. It shows investments in about 5-6 “VIP” funds like contrafund, growth, high income, overseas, etc. The annuity seems to be 75% equity and 25% bonds. I’m confu...
by HueyLD
Sat Apr 10, 2021 5:16 pm
Forum: Investing - Theory, News & General
Topic: My Vanguard account blocked or site down?
Replies: 21
Views: 1669

Re: My Vanguard account blocked or site down?

While I could not access my Vanguard accounts this morning, I was able to access other financial websites such as another brokerage and banks.

Maybe Vanguard websites are made unavailable on weekends?
by HueyLD
Sat Apr 10, 2021 3:39 pm
Forum: Investing - Theory, News & General
Topic: My Vanguard account blocked or site down?
Replies: 21
Views: 1669

Re: My Vanguard account blocked or site down?

I could not access my holdings or transaction history this morning using Safari.

It works now though.
by HueyLD
Sat Apr 10, 2021 9:57 am
Forum: Personal Finance (Not Investing)
Topic: IRS Direct Pay
Replies: 8
Views: 522

Re: IRS Direct Pay

Did you save a copy of the confirmation after making the payment?
by HueyLD
Sat Apr 10, 2021 8:01 am
Forum: Personal Investments
Topic: Fidelity CD Question
Replies: 13
Views: 1266

Re: Fidelity CD Question

Are those CD's available at Fidelity that are call protected and FDIC insured safe? This will be my first venture into CD's and I guess my concern is that I'm not familiar with the bank names offering the ones with the best rate. Of course I did ask a Fidelity rep about them and was told they are s...
by HueyLD
Fri Apr 09, 2021 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Help! Alliant is stealing my money via wrongful right of offset
Replies: 38
Views: 6372

Re: Help! Alliant is stealing my money via wrongful right of offset

hudson wrote: Fri Apr 09, 2021 7:27 am Flobes,
Did you get it resolved?
Please update us, Flobes.
by HueyLD
Thu Apr 08, 2021 4:57 pm
Forum: Personal Investments
Topic: Changing secondary owner on electronic I and EE bonds
Replies: 7
Views: 490

Re: Changing secondary owner on electronic I and EE bonds

Just give it a try and report back.

You can also call the TD at 1-844-284-2676 for expert assistance.
by HueyLD
Thu Apr 08, 2021 4:30 pm
Forum: Personal Investments
Topic: Changing secondary owner on electronic I and EE bonds
Replies: 7
Views: 490

Re: Changing secondary owner on electronic I and EE bonds

This section discusses addition of a secondary owner. Try the steps to “change” and it most likely will work. “ How do I add a secondary owner or beneficiary to my securities? Adding a secondary owner or beneficiary to securities registered in single ownership form is simple in TreasuryDirect. You c...
by HueyLD
Thu Apr 08, 2021 11:11 am
Forum: Personal Finance (Not Investing)
Topic: TaxSoftware - Worksheets before actually filing
Replies: 8
Views: 425

Re: TaxSoftware - Worksheets before actually filing

“ Items Not Supported Foreign employment income (Form 2555) Nonresident alien returns (Form 1040NR) Customers or preparers living outside the United States when they file their taxes At-risk limitations (Form 6198) Casualty or theft gain or loss for business and income producing property Donations o...
by HueyLD
Thu Apr 08, 2021 9:22 am
Forum: Personal Investments
Topic: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas
Replies: 145
Views: 9929

Re: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas

“ SPRINGFIELD, Mass., Feb. 8, 2021 – Massachusetts Mutual Life Insurance Company (MassMutual) today announced the acquisition of Blueprint Income, Inc., a leading online annuity marketplace, from Stone Ridge Holdings Group. Blueprint Income offers an online marketplace where users can purchase simpl...
by HueyLD
Wed Apr 07, 2021 11:40 am
Forum: Personal Finance (Not Investing)
Topic: EIP1 & EIP2 Payment Reconciliation
Replies: 2
Views: 174

Re: EIP1 & EIP2 Payment Reconciliation

She will be fine. Here is what the IRS instruction says for Form 1040, line 30: “ Line 30 Recovery Rebate Credit The recovery rebate credit was paid out to eligible individuals in two rounds of advance payments called economic impact payments. The economic impact payments were based on your 2018 or ...