Search found 335 matches

by schrute
Sat Sep 05, 2020 6:49 pm
Forum: Personal Investments
Topic: Monthly return vs annual return for investment growth analysis?
Replies: 13
Views: 769

Re: Monthly return vs annual return for investment growth analysis?

Does it make sense to look at investment growth based on monthly deposits or annual deposits? If I look to make $1,000 monthly deposits ($12,000 annually) for 10 years at a rate of 8% annual return, I yield the following: Monthly deposits (additions made 12x per year based on the above): 182,946.04...
by schrute
Sat Sep 05, 2020 5:54 pm
Forum: Personal Investments
Topic: What is the value of selling mutual fund before the price goes down?
Replies: 4
Views: 605

What is the value of selling mutual fund before the price goes down?

I haven't sold too many mutual funds before (usually invest in ETFs or stocks). The last few times I've done it, it took a week for funds to appear. When you put in an order to sell a fund, is the selling price based on that day the order went in (so if I sell on 9/3, it's the final price on 9/3)? O...
by schrute
Sat Sep 05, 2020 5:49 pm
Forum: Personal Investments
Topic: Monthly return vs annual return for investment growth analysis?
Replies: 13
Views: 769

Re: Monthly return vs annual return for investment growth analysis?

I realize actualities are different (sometimes investments go down some months), but is this a more "accurate" representation to look at monthly vs annual deposits? The greatest inaccuracy is likely to be the return itself, whether you specify monthly or annual. E.g., compare annual returns of 6% v...
by schrute
Wed Sep 02, 2020 1:00 am
Forum: Personal Investments
Topic: Monthly return vs annual return for investment growth analysis?
Replies: 13
Views: 769

Re: Monthly return vs annual return for investment growth analysis?

I realize actualities are different (sometimes investments go down some months), but is this a more "accurate" representation to look at monthly vs annual deposits? The greatest inaccuracy is likely to be the return itself, whether you specify monthly or annual. E.g., compare annual returns of 6% v...
by schrute
Tue Sep 01, 2020 9:11 pm
Forum: Personal Investments
Topic: Monthly return vs annual return for investment growth analysis?
Replies: 13
Views: 769

Re: Monthly return vs annual return for investment growth analysis?

You have created a “selection” artifact. If instead you were to calculate the annual deposit at the beginning of the compounding period, “Annual Deposits” would outperform monthly by a similar amount. If you calculate the annual deposit as June 30, the two numbers will be within a whisker of each o...
by schrute
Tue Sep 01, 2020 8:13 pm
Forum: Personal Investments
Topic: Monthly return vs annual return for investment growth analysis?
Replies: 13
Views: 769

Monthly return vs annual return for investment growth analysis?

Does it make sense to look at investment growth based on monthly deposits or annual deposits? If I look to make $1,000 monthly deposits ($12,000 annually) for 10 years at a rate of 8% annual return, I yield the following: Monthly deposits (additions made 12x per year based on the above): 182,946.04 ...
by schrute
Mon Jul 06, 2020 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Taxes: Anyone paper filing or requesting an extension until October to reduce chance of audit?
Replies: 7
Views: 833

Re: Taxes: Anyone paper filing or requesting an extension until October to reduce chance of audit?

I worry about an audit about as much as I worry about going through the TSA check at the airport - so, not at all. I've reported my income and have documentation to support my deductions, and if the IRS wants to have a conversation about it we can do that. In the unlikely event that I and Turbo Tax...
by schrute
Fri Jul 03, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes: Anyone paper filing or requesting an extension until October to reduce chance of audit?
Replies: 7
Views: 833

Taxes: Anyone paper filing or requesting an extension until October to reduce chance of audit?

Is anyone filing an extension (until October) or doing a paper filing to reduce chances of audit? I know there's a massive backlog of returns for the IRS to get through so curious if doing a paper return or filing an extension matters this year.
by schrute
Sat Feb 29, 2020 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Combine accounts to one brokerage line on tax return & tax software?
Replies: 8
Views: 434

Re: Combine accounts to one brokerage line on tax return & tax software?

FIREchief wrote: Sat Feb 29, 2020 1:53 pm What do the instructions for schedule B indicate?
It just says:
Line 5. Report on line 5 all of your ordinary dividends.
by schrute
Sat Feb 29, 2020 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Combine accounts to one brokerage line on tax return & tax software?
Replies: 8
Views: 434

Re: Combine accounts to one brokerage line on tax return & tax software?

I would just do two. It seems that the saving of one line is not worth it to risk making a mistake. I would enter separately to eliminate the risk of the IRS not being able to tie the amounts entered in your return to the 1099's that it receives. How should I have them separate? Should I call them ...
by schrute
Sat Feb 29, 2020 2:56 am
Forum: Personal Finance (Not Investing)
Topic: Combine accounts to one brokerage line on tax return & tax software?
Replies: 8
Views: 434

Combine accounts to one brokerage line on tax return & tax software?

I got some dividends and 2 different accounts with my brokerage. Of course, when I enter it through TurboTax, I would enter brokerage A account 1 - $4 (one 1099-DIV) and then brokerage A account 2 - $900 (second 1099-DIV). Same brokerage, two different accounts and two 1099-DIV. Does it make sense t...
by schrute
Fri Feb 07, 2020 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax return questions around taxes on promotions, foreign dividend, and sales tax
Replies: 6
Views: 450

Re: Tax return questions around taxes on promotions, foreign dividend, and sales tax

mister_sparkle wrote: Fri Feb 07, 2020 2:05 pm When I had a small business, it was on a cash basis for accounting, so I deducted the sales tax amount from the prior year, which was paid in the current year.
So you mean collected sales tax for Jan - Dec 2017, and paid that in 2018 (2017 tax return)?
by schrute
Fri Feb 07, 2020 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Tax return questions around taxes on promotions, foreign dividend, and sales tax
Replies: 6
Views: 450

Re: Tax return questions around taxes on promotions, foreign dividend, and sales tax

2. I got some dividends from BP (ticker:BP) and I noticed in my consolidated 1099, it shows under 'Foreign Income and Taxes Summary'. I've never noticed this before and I don't recall ever classifying it as Foreign Income. In TurboTax, do I need to classify this as Foreign Income? I don't do Turbo ...
by schrute
Thu Feb 06, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Tax return questions around taxes on promotions, foreign dividend, and sales tax
Replies: 6
Views: 450

Tax return questions around taxes on promotions, foreign dividend, and sales tax

Been doing my taxes in TurboTax and 1. Noticed that I got a 1099-MISC for about $10 for "offers and promotions" for a $10 gift card from my brokerage. Basically I took a survey and they paid it out. I filled it out in TurboTax, but it asked "Was this a service?" Yes/No. I put no. Was that correct? 2...
by schrute
Fri Jan 17, 2020 2:02 pm
Forum: Personal Investments
Topic: Anyone pay AMT for California or National Munis?
Replies: 3
Views: 485

Re: Anyone pay AMT for California or National Munis?

At Vanguard, Alternative minimum tax—Tax-preference dividends by fund 2018 (on Vanguard's site for advisors) says that only High-Yield Tax-Exempt and the municipal money-market funds had any AMT bonds. It does make sense to use CA munis rather than national munis if you live in CA, even if you migh...
by schrute
Sun Dec 15, 2019 8:23 pm
Forum: Personal Investments
Topic: Anyone pay AMT for California or National Munis?
Replies: 3
Views: 485

Anyone pay AMT for California or National Munis?

In the 24% bracket (possible I'll move to the 32% bracket in 2020). Looking to buy some California Muni bonds, but not sure if that make sense compared to the National Muni (I live in California, but may not stay here forever). Looking at Vanguard Intermediate and Fidelity's California. Wondering if...
by schrute
Wed Dec 11, 2019 1:53 pm
Forum: Personal Investments
Topic: How is tax assessed on Treasury or Muni Bond Index Funds?
Replies: 4
Views: 504

How is tax assessed on Treasury or Muni Bond Index Funds?

Never owned treasury or muni bond funds, are they assessed when a distribution occurs? Or on the capital gains? I imagine it shows up on a 1099-DIV at end of the year?
by schrute
Wed Dec 04, 2019 10:08 pm
Forum: Personal Investments
Topic: Reasons to not invest in long Term Treasuries/Tax Exempt?
Replies: 3
Views: 712

Reasons to not invest in long Term Treasuries/Tax Exempt?

Planning on saving in a taxable account up to $1M over the next 8-10 years. Automatically invest in Total US Stock Market and deciding between treasuries, tax exempt or might just split both (50/50) mutual funds or ETFs. Is there a reason to go short term instead of long term treasuries? Obviously l...
by schrute
Mon Dec 02, 2019 8:58 pm
Forum: Personal Investments
Topic: Bonds in taxable accounts?
Replies: 25
Views: 2697

Re: Bonds in taxable accounts?

I'm not close to early retirement. Maybe 10 years away to contemplate early retirement? Does it make sense to start putting bonds in now or allocate for them closer to "retiring"? I don't have any bonds nor cash in my taxable account and I am retired. I have 100% equities in my taxable account. I h...
by schrute
Mon Dec 02, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Keep old student loan billing statements?
Replies: 2
Views: 366

Keep old student loan billing statements?

I paid off a student loan in 2017-ish. It was a small amount, only a few thousand. The servicer sold my loan to a new servicer and I ended up paying it off with them. I had an issue with the old servicer that they report incorrectly on my credit report many years ago, I ended up getting it resolved....
by schrute
Mon Dec 02, 2019 8:50 pm
Forum: Personal Investments
Topic: Bonds in taxable accounts?
Replies: 25
Views: 2697

Re: Bonds in taxable accounts?

Does it make sense to have treasury or muni bond index funds in taxable account? If someone is retiring early (or intends to use the taxable for a major purchase) having bonds in taxable can make a lot of sense. I'm not close to early retirement. Maybe 10 years away to contemplate early retirement?...
by schrute
Mon Dec 02, 2019 8:49 pm
Forum: Personal Investments
Topic: Bonds in taxable accounts?
Replies: 25
Views: 2697

Re: Bonds in taxable accounts?

Readers should keep in mind that many people should not even be using a taxable account at all (for retirement money). In almost all cases, it is best to fill up a work plan(s) and an IRA(s) (often Roth IRA) before putting any retirement money into a taxable account. In other words, since most peop...
by schrute
Sat Nov 30, 2019 4:42 pm
Forum: Personal Investments
Topic: Bonds in taxable accounts?
Replies: 25
Views: 2697

Re: Bonds in taxable accounts?

Hard to know if you are asking whether to use one vs the other? Or if you are asking if either is OK to use. In CA, if you hold bonds in taxable, the CA muni is a good choice. Seems like treasuries would be a good choice as well. Should edit the question, wondering if it made sense to go with bonds...
by schrute
Sat Nov 30, 2019 4:12 pm
Forum: Personal Investments
Topic: I’m done with index funds
Replies: 239
Views: 34889

Re: I’m done with index funds

Who are you going with? I’m 90% sure to go with Morgan Stanley, but I’m still considering other firms like Schwab and Bessemer Trust which both offer the same strategy. Surprisingly enough, Schwab is actually more expensive than Morgan Stanley, so I’ll probably pass on them. Bessemer offers interes...
by schrute
Sat Nov 30, 2019 2:09 pm
Forum: Personal Investments
Topic: Bonds in taxable accounts?
Replies: 25
Views: 2697

Bonds in taxable accounts?

Does it make sense to have treasury or muni bond index funds in taxable account?

State: Calif
by schrute
Sun Oct 27, 2019 9:20 pm
Forum: Personal Investments
Topic: VFIAX vs FXAIX vs SWPPX?
Replies: 11
Views: 5313

Re: VFIAX vs FXAIX vs SWPPX?

retention vs total return of S&P 500 over 10 years with distributions of dividends, without sale of fund shares. 95.7% FXAIX 12.67/13.24 96.0% VFIAX 12.73/13.24 This works out to $300 in dividend taxes difference for every $100,000 invested in taxable account (give or take a Starbucks coffee) over ...
by schrute
Sun Oct 27, 2019 3:49 pm
Forum: Personal Investments
Topic: VFIAX vs FXAIX vs SWPPX?
Replies: 11
Views: 5313

Re: VFIAX vs FXAIX vs SWPPX?

Yes, the Vanguard fund might be a little more tax efficient than the others because Vanguard's fund has an ETF share class. The others do not (and can not until the Vanguard patent expires). I can't explain the details, but someone else probably can. What's a little bit more? Never seen the compari...
by schrute
Sun Oct 27, 2019 3:17 pm
Forum: Personal Investments
Topic: VFIAX vs FXAIX vs SWPPX?
Replies: 11
Views: 5313

VFIAX vs FXAIX vs SWPPX?

SP500 index funds: VFIAX (Vanguard) vs FXAIX (Fidelity) vs SWPPX (Schwab) are nearly identical in returns, but slightly different costs. I read somewhere on here that Vanguard might be more tax efficient compared to Fidelity with regards to distribution of capital gains?
by schrute
Sun Oct 27, 2019 3:16 pm
Forum: Personal Investments
Topic: I’m done with index funds
Replies: 239
Views: 34889

Re: I’m done with index funds

After doing quite a lot of research, I’ve decided to stop using low-cost index funds and switch to a separately managed account. This goes against the Bogleheads investment philosophy and it took me a long time to admit it was the right thing to do for me as I was genuinely convinced and passionate...
by schrute
Sat Oct 26, 2019 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do prices on umbrella policies adjust annually or remain fixed?
Replies: 14
Views: 1351

Do prices on umbrella policies adjust annually or remain fixed?

Can you lock into a price for an Umbrella Policy or does it change like auto insurance? For example, if you have an accident or get a ticket, your insurance goes up. Is that the same for an umbrella policy?
by schrute
Sat Oct 19, 2019 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Term life with State Farm and doctor?
Replies: 7
Views: 724

Re: Term life with State Farm and doctor?

Anyone have term life with SF and have a doctor exam? How do they? For example, I have somewhat high blood pressure, but everywhere else is good. Any idea how much that would affect rates? Most policies require an exam, and blood test and possibly urine test. High blood pressure will likely put you...
by schrute
Sat Oct 19, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Term life with State Farm and doctor?
Replies: 7
Views: 724

Term life with State Farm and doctor?

Anyone have term life with SF and have a doctor exam? How do they? For example, I have somewhat high blood pressure, but everywhere else is good. Any idea how much that would affect rates?
by schrute
Sat Oct 19, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

FiveK wrote: Tue Oct 15, 2019 11:45 am
schrute wrote: Tue Oct 15, 2019 10:23 am Got it, yes need to get 2016 too, but need to get the file for it.
The IRS makes that fairly easy: Form 8606 Prior Year Products
Thanks this was helpful. Used it to download previous forms!
by schrute
Sat Oct 19, 2019 3:38 pm
Forum: Personal Consumer Issues
Topic: Umbrella Policy Impact of Ticket on Price?
Replies: 1
Views: 522

Umbrella Policy Impact of Ticket on Price?

Looking at getting an umbrella policy of $1 million. My significant other got a ticket for gridlock violation (no points) recently and wondering how that would impact getting a policy and rates from State Farm.
by schrute
Tue Oct 15, 2019 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

So the forms through TT, looks like below. It's a bit different than what you have: lines 1 - 5500 2 - 5500 3 - 11000 4 - 5500 5 - 5500 13 - 5500 14 - 5500 15a - 0 16 - 5500 17 - 5500 18 - 0 It is different but I think it is all right. Line 4 shows the 2017 contribution was actually made in 2018 (w...
by schrute
Tue Oct 15, 2019 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

So the forms through TT, looks like below. It's a bit different than what you have: lines 1 - 5500 2 - 5500 3 - 1100 4 - 5500 5 - 5500 13 - 5500 14 - 5500 15a - 0 16 - 5500 17 - 5500 18 - 0 Is this your amended 2017 Form 8606 or your 2018 Form 8606 to be filed? Is Line 3 really 1,100 or did you mea...
by schrute
Mon Oct 14, 2019 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

So the forms through TT, looks like below. It's a bit different than what you have:

lines

1 - 5500
2 - 5500
3 - 11000
4 - 5500
5 - 5500
13 - 5500
14 - 5500
15a - 0
16 - 5500
17 - 5500
18 - 0
by schrute
Sun Oct 13, 2019 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

Agree with katietsu and retiredjg. What I still find interesting though is how did TT rollover your correct cumulative 2017 basis of $5,500 to 2018 Form 8606 Line 2 yet the TT-produced 2017 Form 8606 had an incorrect basis on Line 14 of $0. I would have expected TT to carryover the incorrect basis ...
by schrute
Sun Oct 13, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

It looks like I would need to update 2017 and possibly 2016. If so, do I file a 1040X and amend those sheets with it? I think the 2017 is right. It shows a contribution for 2017 and a conversion done in 2017, both of which you told us you did. What do you think is wrong with it? I think maybe 2016 ...
by schrute
Sun Oct 13, 2019 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

It looks like I would need to update 2017 and possibly 2016. If so, do I file a 1040X and amend those sheets with it? No need to file a 1040X unless something needs to change on a form other than 8606. If it is only 8606 that needs to change, remember to sign it before you mail it to the IRS. Would...
by schrute
Sun Oct 13, 2019 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

It looks like I would need to update 2017 and possibly 2016. If so, do I file a 1040X and amend those sheets with it?
by schrute
Sun Oct 13, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

Ok went back through the history, here's the chronology of events: IRA/Roth Account 1: On 1/5/2017 I did a contribution to the prior year (2016) and on 1/20/2017 I rolled/converted it to Roth (still account 1). In IRA/Roth Account 2: On 4/17/2018 I did a contribution for prior year (2017) and on 8/...
by schrute
Sun Oct 13, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

retiredjg wrote: Sun Oct 13, 2019 2:41 pm For that matter, tell us about your 2015 contribution and conversion as well. And what does the 2015 8606 look like.
2015/2016 look exactly like 2017 which I shared. 1, 3, 5, 13, 16, 17 are filled in.
by schrute
Sun Oct 13, 2019 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

Ok went back through the history, here's the chronology of events: IRA/Roth Account 1: On 1/5/2017 I did a contribution to the prior year (2016) and on 1/20/2017 I rolled/converted it to Roth (still account 1). In IRA/Roth Account 2: On 4/17/2018 I did a contribution for prior year (2017) and on 8/...
by schrute
Sun Oct 13, 2019 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

FiveK wrote: Sun Oct 13, 2019 2:17 pm
schrute wrote: Sun Oct 13, 2019 2:14 pm Hmm, let me go look. So I have 2 IRA and 2 Roth IRA accounts.
Uh-oh....

Did you see the instructions for line 6 of form 8606, in particular the bolded word all?
I didn't realize I did this conversion :/
by schrute
Sun Oct 13, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

Ok went back through the history, here's the chronology of events: IRA/Roth Account 1: On 1/5/2017 I did a contribution to the prior year (2016) and on 1/20/2017 I rolled/converted it to Roth (still account 1). In IRA/Roth Account 2: On 4/17/2018 I did a contribution for prior year (2017) and on 8/2...
by schrute
Sun Oct 13, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Filed extension, finishing up taxes, question about non-deductible IRA
Replies: 82
Views: 2919

Re: Filed extension, finishing up taxes, question about non-deductible IRA

Hmm, let me go look. So I have 2 IRA and 2 Roth IRA accounts. One was a rollover from a previous employer (I contributed once to it in 2016) and decided to get a second IRA account. Maybe I converted that from in early 2017, but I don't recall (thought it was 2016). This second account, I didn't do ...