Search found 2725 matches

by tomd37
Tue Apr 17, 2018 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contribution for someone who didn't file a return
Replies: 4
Views: 333

Re: Roth contribution for someone who didn't file a return

You must have earned income in order to contribute to an IRA, either traditional or Roth. Your son did have earned income in the form of the payments he received from "Ken" and that payment should be reported. Even though your son did not receive a Form 1099-MISC from Ken I believe he should report ...
by tomd37
Sat Apr 14, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: [Help completing the TN state tax return]
Replies: 73
Views: 2217

Re: [Help completing the TN state tax return]

StraightEdge, Looking at my personal copy of the 2017 Guidance for Tennessee's Hall Income Tax Return I think you should be able to determine what is or is not taxable under the TN rules including for a person who moved into or out of Tennessee during the year and whose taxable interest and dividend...
by tomd37
Sun Apr 08, 2018 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty for not having health insurance in 2017
Replies: 3
Views: 282

Re: Tax Penalty for not having health insurance in 2017

It still exists for tax year 2017 and also for tax year 2018 to the best of my knowledge.
by tomd37
Sun Apr 08, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about filing taxes for deceased relative
Replies: 7
Views: 520

Re: Questions about filing taxes for deceased relative

Sounds like a 2017 personal return should be filed for the MIL and if a refund was due her Form 1310 should be filed as part of that return. All can be submitted electronically I believe.
by tomd37
Fri Apr 06, 2018 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: E-File H&R
Replies: 5
Views: 235

Re: E-File H&R

If the initial return has already been submitted and accepted, would you not submit an amended return (1040X) by mail with the revised information?
by tomd37
Fri Apr 06, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-MISC [Question on self-employment expenses]
Replies: 8
Views: 434

Re: 1099-MISC [Question on self-employment expenses]

Okay - He and the IRS have two income documents (W-2 and 1099-MISC) that have to be accounted for on the tax return. The IRS is looking for the W-2 income on line 7 and the 1099-MISC box 7 income on Schedules C and SE. The only other option might be the 1099-MISC income reported on line 21 of the 10...
by tomd37
Fri Apr 06, 2018 11:45 am
Forum: Personal Finance (Not Investing)
Topic: 1099-MISC [Question on self-employment expenses]
Replies: 8
Views: 434

Re: 1099-MISC [Question on self-employment expenses]

The OP said he has a 1099-MISC from his employer in addition to the W-2 from the same employer. It appears to me the employer consider the OP as a self-employed contractor for the 1099-MISC job and therefore the OP must file a Schedule C or C-EZ along with a Schedule SE. The OP cannot take mileage f...
by tomd37
Mon Apr 02, 2018 10:28 pm
Forum: Investing - Help with Personal Investments
Topic: Corrected 1099-B
Replies: 3
Views: 176

Re: Corrected 1099-B

We are talking about an amended return (Form 1040-X) and a new Schedule D attached to it.
by tomd37
Tue Mar 27, 2018 8:10 pm
Forum: Personal Consumer Issues
Topic: 2018 Forester vs CRV vs RAV4
Replies: 122
Views: 11530

Re: 2018 Forester vs CRV vs RAV4

I too am anxious to see the new Forester, but doubt it will be available as early as this summer. From what I have read online it might be late this year. We will see.
by tomd37
Mon Mar 26, 2018 8:17 pm
Forum: Personal Consumer Issues
Topic: New car?
Replies: 46
Views: 3239

Re: New car?

BogleBoogie - I did not keep the receipts for gas purchases. Since 1975 upon returning to the states from an overseas tour of duty I have purchased an "At-A-Glance" auto record book for each new car purchased thereafter and recorded on a quarterly or semi-annual basis the mileage, amount of gas purc...
by tomd37
Mon Mar 26, 2018 4:14 pm
Forum: Investing - Theory, News & General
Topic: Invests money, 3 days later the market tanks.
Replies: 58
Views: 7103

Re: Invests money, 3 days later the market tanks.

I wonder how jackhensy is feeling today?
by tomd37
Mon Mar 26, 2018 3:42 pm
Forum: Personal Consumer Issues
Topic: Should I proactively replace my central AC unit?
Replies: 33
Views: 2358

Re: Should I proactively replace my central AC unit?

You are living on borrowed time! At that age I would very seriously consider replacing it with an appropriately sized and type of unit. HVAC dealers are not that busy yet and are offering some good deals as are the manufacturers. You will "pay through the nose" if it happens to go out in the late sp...
by tomd37
Mon Mar 26, 2018 2:38 pm
Forum: Personal Consumer Issues
Topic: New car?
Replies: 46
Views: 3239

Re: New car?

A year ago my wife finally agreed to letting go of her sixteen year old 2001 Lexus ES300 with 76,000 miles on it. It was in outstanding shape and she had four offers from the Lexus mechanics to sell it to them. I kept detailed records of every dollar spent on that car starting with its purchase, ins...
by tomd37
Sun Mar 25, 2018 3:49 pm
Forum: Personal Consumer Issues
Topic: Costco Kirkland Brand Liquor
Replies: 58
Views: 4959

Re: Costco Kirkland Brand Liquor

Without reading all the details of the 49 posts, I would ask the question is Costco selling liquor within the confines of their store (which I know it does in some states) or is it being sold by a company other than Costco but in a store adjacent or attached to the Costco building as is the case in ...
by tomd37
Fri Mar 23, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Check Endorsement
Replies: 1
Views: 237

Check Endorsement

John Doe and Mary Smith were getting married last fall. Sent a gift check made payable to both and it never cleared my bank. Sent a replacement check made payable to John Doe. Check just cleared the bank and I noticed Mary Smith wrote "or Mary Smith" after John's name and endorsed the check Mary Smi...
by tomd37
Wed Mar 21, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Delayed credit card alerts from USAA Bank
Replies: 3
Views: 303

Re: Delayed credit card alerts from USAA Bank

I have an AMEX Blue Cash Card (the original one) and a Navy Federal Credit Union VISA card. Both offer the option of email alerts based on the dollar amount I establish. Virtually in all cases I have the emails before I get home to read them. I don't have the ability to use email on my flip-phone. V...
by tomd37
Sat Mar 17, 2018 10:53 am
Forum: Personal Consumer Issues
Topic: 2018 Forester vs CRV vs RAV4
Replies: 122
Views: 11530

Re: 2018 Forester vs CRV vs RAV4

Inbox788 - Thank you for the two comparison websites. I had seen the Planet Subaru site before but never the Stanley Subaru site. The latter is a very good comparison.
by tomd37
Sat Mar 17, 2018 8:55 am
Forum: Personal Consumer Issues
Topic: Attic Ladder Installation - Whom To Call
Replies: 18
Views: 1348

Re: Attic Ladder Installation - Whom To Call

I want to amend my post adding that, as mentioned by others, it would be a very good idea to add an insulated step cover in the attic. I installed a brand called "Attic Tent" myself in a very short period of time. All you need is a heavy duty staple gun. Research the brand for details and pricing, b...
by tomd37
Sat Mar 17, 2018 8:47 am
Forum: Personal Consumer Issues
Topic: Attic Ladder Installation - Whom To Call
Replies: 18
Views: 1348

Re: Attic Ladder Installation - Whom To Call

Seven years ago we did a major renovation to the entire first floor and the two bathrooms on the second floor. During that renovation we had our contractor replace the pull down builder grade attic step system that was in poor shape. The contractor installed a much higher grade of stairs capable of ...
by tomd37
Mon Mar 12, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Took recommended W4 allowance - Still owe?
Replies: 4
Views: 744

Re: Took recommended W4 allowance - Still owe?

Your calculated results for lines 38, 40, 42, and 63 might be of help in assisting you. Any entries on lines 46 or 61 pertaining to health coverage? What is line 64 amount?
by tomd37
Sun Mar 11, 2018 2:48 pm
Forum: Personal Consumer Issues
Topic: House Hunting Concerns With Well
Replies: 41
Views: 3313

Re: House Hunting Concerns With Well

dowse - would you care to share the name of the subdivision in CH as I formerly lived there in a subdivision that had community wells serving it. Also had septic tanks there.
by tomd37
Sat Mar 10, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Server Changed TIP amount - 3rd time in a month
Replies: 50
Views: 4813

Re: Server Changed TIP amount - 3rd time in a month

I have heard of people that write the words "No Tip" on the line for the tip and then write the total amount being paid on the last line. Of course you have to keep a copy of the charge to verify.
by tomd37
Fri Mar 09, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax payment
Replies: 6
Views: 649

Re: Estimated tax payment

Stevedore, Are you taking RMDs? If so you might consider adjusting the federal withholding from your last RMD to withhold whatever additional amount you will need to come out even. Any federal tax withheld from an RMD is considered as withheld throughout the year. I take my RMD in November of each y...
by tomd37
Tue Mar 06, 2018 9:03 pm
Forum: Investing - Theory, News & General
Topic: New tax law and QCD's - article
Replies: 18
Views: 1654

Re: New tax law and QCD's - article

I have been using the same method as Friar1610 for the past ten year years that QCDs were available through the tax laws. The check is made payable to the charity with my name and address below the name of the charity, sent to me for copying, forwarded on to the charity, and tracked for receipt of r...
by tomd37
Sun Mar 04, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: USAA Credit Card- new cash back card offer.
Replies: 11
Views: 1196

Re: USAA Credit Card- new cash back card offer.

That USAA card offer sounds just like the card offered by the Navy Federal Credit Union.
by tomd37
Sat Mar 03, 2018 3:23 pm
Forum: Personal Consumer Issues
Topic: Consumer Reports Auto Issue Out now
Replies: 48
Views: 4745

Re: Consumer Reports Auto Issue Out now

Waiting on my mail now and I am very interested in this particular issue as I am thinking of a new SUV. Only wish there was more options for a pure station wagon. Thought I might be interested in the new 2018 Buick Regal Tour X station wagon that just arrived in the showrooms, but was disappointed i...
by tomd37
Sat Mar 03, 2018 10:17 am
Forum: Personal Consumer Issues
Topic: Furnace / AC Price Options
Replies: 11
Views: 1224

Re: Furnace / AC Price Options

Not of major concern here, but please folks do not be mislead by claims of a $500 federal energy credit when buying HVAC units and other energy saving related items. Hell, even those tax extenders for tax year 2017 were not renewed until February 9th of this year and are only good for 2017 taxes. An...
by tomd37
Fri Mar 02, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: My consulting is being taxed roughly 50% this year!?
Replies: 18
Views: 3054

Re: My consulting is being taxed roughly 50% this year!?

First question I ask when seeing a couple using MFS filing status - Why :?: The next is have you considered MFJ and using Injured Spouse Form :?: If not, why not :?: Maybe you can elaborate of the MFS filing status.
by tomd37
Fri Mar 02, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Why child care tax credit for double income families, but not single?
Replies: 32
Views: 3547

Re: Why child care tax credit for double income families, but not single?

Thanks. I have a hard copy right here as I don't like going online when doing T-A taxes and I keep certain Pubs and Instructions on hand. About the only one I have to use online is the 4012 with all its updates (second update in January).
by tomd37
Fri Mar 02, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Why child care tax credit for double income families, but not single?
Replies: 32
Views: 3547

Re: Why child care tax credit for double income families, but not single?

pshonore - Would you please confirm the Pub number or give its title. Cannot find it on the IRS site. Thanks
by tomd37
Thu Mar 01, 2018 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Missed 1099-R on taxes
Replies: 19
Views: 1581

Re: Missed 1099-R on taxes

Am I missing something? Where does the capital gain worksheet come into play in the original post or are you just adding general info to the overall post
by tomd37
Thu Mar 01, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Missed 1099-R on taxes
Replies: 19
Views: 1581

Re: Missed 1099-R on taxes

Would $1.54 ($2 rounded for income reporting) additional income really increase his tax bill? I think it would if he were right on the edge of a taxable income range, but I don't think it would otherwise. What say you?
by tomd37
Tue Feb 27, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Estimated Tax - form not available?
Replies: 17
Views: 1157

Re: 2018 Estimated Tax - form not available?

The 2018 Form 1040-ES was available yesterday in the AARP Foundation Tax-Aide program. I printed a set out for one of my clients.
by tomd37
Mon Feb 26, 2018 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Any Ideas on How to Reduce Our Adjusted Gross Income?
Replies: 16
Views: 1903

Re: Any Ideas on How to Reduce Our Adjusted Gross Income?

Please remember that a qualified charitable distribution (QCD) from a traditional IRA is only available to a person who has attained the age of 70.5 by the date of the actual distribution and must be taken prior to the end of the applicable tax year. I have been doing it for the past ten years in th...
by tomd37
Sun Feb 25, 2018 2:48 pm
Forum: Personal Consumer Issues
Topic: manual typewriters?
Replies: 40
Views: 1715

Re: manual typewriters?

Speaking of manual typewriters, I took typing in tenth grade in 1952 as an elective. That course has served me well all these years. Also my Dad had a small manual typewriter in the 1930s that had a "chemical keyboard". When we clean out the attic this year I will have to see if I still have it.
by tomd37
Sat Feb 24, 2018 7:51 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited stocks, what would you do?
Replies: 20
Views: 1727

Re: Inherited stocks, what would you do?

mxs,
Although not mentioned, I assume your profit/loss calculations are based on your basis at date of inheritance :?:
by tomd37
Thu Feb 22, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Safe to file taxes now?
Replies: 57
Views: 4916

Re: Safe to file taxes now?

thangngo wrote "Is it right? I've never seen a refund processed in 3 days. It's typically 21 days." I submitted my return electronically on a Monday afternoon and Thursday afternoon I had an email advisory from my credit union stating the deposit would be available in my account on Monday. Also I do...
by tomd37
Wed Feb 21, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Safe to file taxes now?
Replies: 57
Views: 4916

Re: Safe to file taxes now?

Jim - I think the necessary lines on various forms and schedules have been reserved prior to the end of 2017 so I am assuming it should not take the IRS too long to implement the required changes to those forms and schedules. What might take a bit longer is for the numerous software firms to make ch...
by tomd37
Tue Feb 20, 2018 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Safe to file taxes now?
Replies: 57
Views: 4916

Re: Safe to file taxes now?

Mike Scott - TaxSlayer Pro tax software firm put out on their blog today that they are working on installing the extenders reinstallation into their system now and hope to have it done soon. I hope that's right because just today I had two clients with returns that had extender issues.
by tomd37
Mon Feb 19, 2018 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Another Form 1040 Line 21 Other Income question
Replies: 11
Views: 958

Re: Another Form 1040 Line 21 Other Income question

Comment removed as it responding to another post. Sorry for my confusion.
by tomd37
Mon Feb 19, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Another Form 1040 Line 21 Other Income question
Replies: 11
Views: 958

Re: Another Form 1040 Line 21 Other Income question

I have seen an increasing number of W-2s issued for election day services at voting sites in the past two years in my area. But not too many of these people are concerned with earned income for contributions to a traditional or Roth IRA.
by tomd37
Mon Feb 19, 2018 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Another Form 1040 Line 21 Other Income question
Replies: 11
Views: 958

Re: Another Form 1040 Line 21 Other Income question

IRS Publication 590-A, Chapter 1 defines what is compensation for purposes of contributing to a IRA. Included is wages, salaries, etc., commissions, self-employment income, alimony and separate maintenance, and nontaxable combat pay. Does not include earnings and profits from property, interest and ...
by tomd37
Mon Feb 19, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4007

Re: Misc Income [how to report with no 1099]

LeTooth, Once again I am going to suggest this $1,200 income be reported as miscellaneous income on 1040 line 21 instead of Schedule C. Looking at the 2017 Instructions for Schedule C it says "Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you prac...
by tomd37
Mon Feb 19, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4007

Re: Misc Income [how to report with no 1099]

It is not a job for you but rather a one-time effort to assist her. IMO it goes on line 21 of the 1040 as miscellaneous cash income. If it was something you did fairly regularly on a part-time basis for her then a 1099-MISC would be the document she should report the income to you on and you would f...
by tomd37
Sun Feb 18, 2018 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Include 1099R for direct rollover in 2017 1040?
Replies: 8
Views: 469

Re: Include 1099R for direct rollover in 2017 1040?

PriceofFreedom - What code is in box 7?
by tomd37
Mon Feb 12, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Question for TaxAide Volunteers
Replies: 10
Views: 863

Re: Question for TaxAide Volunteers

Had an new client last week at my site here in Nashville. Client moved here from California and had her federal and state 2016 return done there at a Tax-Aide site. When we put her SSN in the system it had her carry forward info from California. It is my understanding that if a return was done last ...
by tomd37
Mon Feb 12, 2018 9:03 pm
Forum: Personal Consumer Issues
Topic: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns
Replies: 41
Views: 4618

Re: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns

Just called LLBean Customer Service regarding shipping charges. For orders valued under $50 there is a flat charge of $6.00. $50 or over no shipping charges. For customers like me holding a LLBean VISA card there are no shipping or return charges.
by tomd37
Mon Feb 12, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns
Replies: 41
Views: 4618

Re: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns

My parental family and now my generational family (or however I should say it) has been purchasing LLBean products since the early war years (WWII) when I was in elementary school. I have never had to return any LLBean product for quality reasons. I have returned for sizing issues and had one footwe...
by tomd37
Mon Feb 12, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Tax 2017 Residential Energy Credit Available?
Replies: 20
Views: 1240

Re: Tax 2017 Residential Energy Credit Available?

I think most people here are referring to the recently extended "Nonbusiness Energy Property Credit" versus the other "Residential Renewable Energy Tax Credit". The latter is for solar and geothermal systems etc. The former is for HVAC, insulation, windows/doors, etc. I should point out the former i...