Search found 324 matches

by John151
Sun Feb 18, 2018 5:02 pm
Forum: Personal Consumer Issues
Topic: How to turn off Vanguard texting security feature
Replies: 17
Views: 5431

Re: How to turn off Vanguard texting security feature

Like FiscallyResponsible, I wish we had the option to use email for authentication. It works well enough with Treasury Direct.
by John151
Sat Feb 17, 2018 12:51 am
Forum: Personal Finance (Not Investing)
Topic: Federal Income Taxes in 2018
Replies: 3
Views: 787

Federal Income Taxes in 2018

According to TaxCaster, the recently enacted tax cuts will reduce my 2018 federal income taxes by about twelve percent. Are other people seeing similar results?

https://turbotax.intuit.com/tax-tools/c ... terContent
by John151
Thu Feb 15, 2018 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax & Form 8606
Replies: 9
Views: 1072

Re: TurboTax & Form 8606

I filed my federal income taxes this evening with FreeTaxUSA, and the IRS accepted my return in about an hour.
by John151
Thu Feb 15, 2018 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

I filed my federal income taxes this evening with FreeTaxUSA, and the IRS accepted my return in about an hour.
by John151
Thu Feb 15, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

The IRS has two lists of Free File Fillable Forms. Both of them are now saying that Form 8606 won’t be available until February 22.

https://www.freefilefillableforms.com/# ... ailability

https://www.irs.gov/e-file-providers/li ... able-forms
by John151
Tue Feb 13, 2018 12:02 am
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

If they keep postponing things, we may not have to file at all.
by John151
Mon Feb 12, 2018 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

They just updated the availability of Form 8606 (for FFFF) to 2/22/2018. :annoyed Where are you getting this? I just checked the FFFF site and it still shows 2/15/2018 there. Not that I would be surprised with another extension or two at this point. The list of available Free File Fillable Forms is...
by John151
Mon Feb 12, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

TurboTax is still saying February 15, but that could change.
by John151
Thu Feb 08, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

I’m filing my taxes with FreeTaxUSA this year, and they’re now showing the updated version of Form 8606 with all of my information in the right places. I could probably file my taxes today, but I’ll hold off doing that for a few days, until I have time to double-check my return for any errors.
by John151
Thu Feb 08, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

The IRS’s list of Free File Fillable Forms says Form 8606 will be available for e-filing on February 15. TurboTax is projecting the same date.

https://www.irs.gov/e-file-providers/li ... able-forms
by John151
Sun Feb 04, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

Swimmer wrote:
Sun Feb 04, 2018 3:23 pm
It's now online!
https://www.irs.gov/pub/irs-pdf/f8606.pdf
by John151
Fri Feb 02, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

Re: IRS Form 8606 (Nondeductible IRAs)

I find it annoying too, but my refund will be small, and I don't need the money right away. The people I feel sorry for are the ones whose refunds will be more substantial, particularly if their refunds are delayed even further because someone else got them first.
by John151
Tue Jan 30, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 8606 (Nondeductible IRAs)
Replies: 53
Views: 6092

IRS Form 8606 (Nondeductible IRAs)

I can’t file my state income tax return until I file my federal income tax return, and I can’t file my federal income tax return until the IRS updates Form 8606 (Nondeductible IRAs) for tax year 2017. Does anyone know the reason for the delay, or when the new Form 8606 will be available?
by John151
Sun Jan 28, 2018 5:48 pm
Forum: Investing - Help with Personal Investments
Topic: Does anyone not rebalance?
Replies: 66
Views: 4585

Re: Does anyone not rebalance?

I will not pay capital gains tax in order to rebalance. In tax advantaged accounts I rebalance. Our AA has exceeded the 5% rebalancing band. Currently at 56/44, whereas our IPS calls for 50/50. Can only rebalance in taxable accounts, as our IRAs are already 100% bonds. The dilemma of rebalancing me...
by John151
Tue Jan 23, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 171
Views: 21147

Re: TurboTax Prices

I’ve calculated my 2017 income taxes using the online versions of TurboTax Deluxe, TaxAct Plus, and FreeTaxUSA. The results were precisely the same, but there were significant differences in cost. Here are the prices for e-filing federal and state returns: TurboTax Deluxe $76.98 TaxAct Plus $64.00 F...
by John151
Thu Jan 18, 2018 3:54 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing in last 12 months
Replies: 19
Views: 1448

Re: Rebalancing in last 12 months

I’m a retiree in my seventies. I’m about six percentage points above my desired allocation to stocks, but all of my stocks are in taxable accounts, and rebalancing would mean paying hefty capital gains taxes. So I’ve decided not to rebalance. My pension and my bond investments are enough to see me t...
by John151
Tue Jan 16, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Tax Forms Now Online
Replies: 39
Views: 2778

Re: Vanguard Tax Forms Now Online

That’s why I won’t “upgrade” unless I’m forced to.
by John151
Tue Jan 16, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Tax Forms Now Online
Replies: 39
Views: 2778

Vanguard Tax Forms Now Online

As of this morning, Vanguard Form 1099-DIV and Vanguard Form 1099-R have been posted online. This is for mutual fund investors. Brokerage investors will probably have to wait awhile.
by John151
Mon Jan 15, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Money Chimp has a Tax Calculator that figures QDI for Tax year 2018
Replies: 11
Views: 1605

Re: Money Chimp has a Tax Calculator that figures QDI for Tax year 2018

It doesn’t take into account your Foreign Tax Credit (if you have one), but if you take it as a credit (rather than as an itemized deduction), you can easily subtract your estimated credit from your “Total.”
by John151
Sun Jan 14, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: How long do you save tax returns?
Replies: 39
Views: 3275

Re: How long do you save tax returns?

I’ve kept all of my tax returns since I started filing them in 1973. They don’t take up much room, and I don’t see any reason to throw them out. Also, it’s interesting to review them to see how much income I had a various points in my life, and where the income came from.
by John151
Tue Jan 02, 2018 2:11 pm
Forum: Investing - Theory, News & General
Topic: Did everyone in the early 80s have their money in CDs?
Replies: 77
Views: 6287

Re: Did everyone in the early 80s have their money in CDs?

I turned forty in the 1980’s. During the first part of the decade I had almost all of my savings in bank CD’s. As interest rates dropped and my CD’s reached maturity, I gradually shifted some of that into stocks. When the decade ended, I had about a third of my investments in stocks, and that’s the ...
by John151
Mon Jan 01, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct and alternatives
Replies: 109
Views: 8986

Re: TaxAct and alternatives

I was able to lock in a special deal for TaxAct at $13.50 for the federal return. The price for a state return is currently $37.00. I’ll probably file my federal return with TaxAct and then file my state return directly with the state for free.
by John151
Sat Dec 23, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone here purchased a home for cash (no mortgages)?
Replies: 39
Views: 3939

Re: Has anyone here purchased a home for cash (no mortgages)?

I’m phobic about being in debt. I charge almost everything to my credit cards as a matter of convenience and pay off the balances each month. I didn’t buy a car until I could pay for it with cash. I didn’t buy my present condo until I could pay for it with cash. I feel much more secure knowing that ...
by John151
Fri Dec 22, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-exempt bond funds and the new tax brackets
Replies: 1
Views: 502

Tax-exempt bond funds and the new tax brackets

The rule of thumb under our current tax brackets has been that the 25% bracket is the break-even bracket for tax-exempt bond funds. Investors in brackets lower than that should have their bond investments in taxable funds, and investors in brackets higher than that should have their bond investments...
by John151
Wed Dec 13, 2017 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 171
Views: 21147

Re: TurboTax Prices

Thank you, joe8d. Unfortunately, it looks like H&R Block’s free edition doesn’t handle Schedule D, which I have to file this year to report a capital loss carryover. The best offer I’ve had so far was from TaxAct: $13.50 for my federal return. I signed up for it. A state return is currently $37, but...
by John151
Wed Dec 13, 2017 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 171
Views: 21147

Re: TurboTax Prices

I don’t meet the qualifications for a 1040A, Alan, but I appreciate the suggestion.
by John151
Wed Dec 13, 2017 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 171
Views: 21147

TurboTax Prices

I filed my taxes with the online version of TurboTax for over fifteen years, until TurboTax started playing games with its prices and with what its prices covered. I switched to TaxAct because its prices were more straightforward and substantially less than what TurboTax was charging. Today I got an...
by John151
Sun Dec 10, 2017 6:42 pm
Forum: Personal Consumer Issues
Topic: Firefox upgrade broke my add-on, switched to Waterfox
Replies: 28
Views: 3836

Re: Firefox upgrade broke my add-on, switched to Waterfox

LadyGeek, I gave Waterfox a try, and I like it. It imported all of my Firefox legacy add-ons and most of my settings flawlessly. The only glitch was that the Add-ons Manager was for some reason set to “Update Add-ons Automatically,” and Waterfox updated Stylish to a version that doesn’t work for me....
by John151
Fri Dec 08, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: What did you do with your first RMD withdrawal money?
Replies: 69
Views: 5775

Re: What did you do with your first RMD withdrawal money?

I invested my first RMD in a tax-exempt bond fund. Subsequent RMD’s have been going into that fund too.
by John151
Thu Dec 07, 2017 4:43 pm
Forum: Investing - Theory, News & General
Topic: I-Bonds?
Replies: 80
Views: 12704

Re: I-Bonds?

I Bonds make up about 30% of my bond holdings, and I’m adding the legal maximum to them every year. They’re safe, they offer some inflation protection, the interest they pay is tax-deferred, and their yields are better than anything I can find in bank CD’s. In my opinion, I Bonds are an excellent in...
by John151
Sat Nov 25, 2017 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone tired of the stock market going up?
Replies: 309
Views: 30334

Re: Anyone tired of the stock market going up?

I’ve had a somewhat similar reaction to the market’s rise. My stocks have more than doubled, and they’ve risen above the upper limit of my target bands. I’ve stopped adding to them, and normally I would rebalance by exchanging from stocks into bonds. But all of my stocks are in taxable accounts, and...
by John151
Thu Nov 23, 2017 2:07 am
Forum: Personal Finance (Not Investing)
Topic: Filing Illinois Income Taxes Online
Replies: 11
Views: 1014

Re: Filing Illinois Income Taxes Online

Thanks, guys! I appreciate it.
by John151
Wed Nov 22, 2017 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Illinois Income Taxes Online
Replies: 11
Views: 1014

Filing Illinois Income Taxes Online

Has anyone filed Illinois income taxes using the state’s online tax service? Was it difficult? Did you encounter any glitches?
by John151
Mon Nov 20, 2017 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct and alternatives
Replies: 109
Views: 8986

Re: TaxAct and alternatives

I’ve filed my taxes with TaxAct for the past two years. In August 2017 I received an offer to sign up for the online version of TaxAct Plus for tax year 2017 for $13.50. This is for the federal return only. The state return will be extra. I signed up right away.
by John151
Mon Nov 20, 2017 1:26 pm
Forum: Personal Consumer Issues
Topic: Firefox upgrade broke my add-on, switched to Waterfox
Replies: 28
Views: 3836

Re: Firefox upgrade broke my add-on, switched to Waterfox

I’ve stayed with Firefox for years because of one extension: Scrapbook. It doesn’t work on Firefox 57, and although the developer is working on a compatible version, he doesn’t think it will have all the features of the original. Right now I’m using Scrapbook on Firefox 52.5.0 ESR. That should work ...
by John151
Mon Nov 20, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Returns - How Long Do you Keep?
Replies: 56
Views: 5439

Re: Tax Returns - How Long Do you Keep?

I have my returns and supporting documents going all the way back to 1973, the first year that I filed income taxes. They don’t take up a lot of space, and I don’t see any good reason to throw them out.
by John151
Fri Nov 17, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Why did Vanguard drop TurboTax?
Replies: 16
Views: 3387

Why did Vanguard drop TurboTax?

Vanguard used to offer Vanguard clients discounted or even free access to TurboTax’s tax preparation services. But Vanguard dropped its discounts several years ago, saying that Vanguard considered its core mission to be investment services, not tax services. Was Vanguard’s decision to drop TurboTax ...
by John151
Sat Nov 04, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Lets talk emergency funds and I-bonds
Replies: 23
Views: 2308

Re: Lets talk emergency funds and I-bonds

I bought I Bonds when the fixed rate was over three percent. I didn’t think of them as an emergency fund at the time, and I don’t think of them as an emergency fund today. Those bonds are paying more than all of my other fixed income investments, so I’m going to hang on to them until they mature. My...
by John151
Thu Oct 26, 2017 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Should you rebalance when you’re in your seventies?
Replies: 25
Views: 2744

Re: Should you rebalance when you’re in your seventies?

I’m grateful to all of you for your advice. My pension has a 3% COLA, and it more than covers my basic needs. I also have a year’s worth of expenses in a money market fund that I can tap if need be. I haven’t withdrawn anything from my other investments, except for required minimum distributions, an...
by John151
Wed Oct 25, 2017 10:34 pm
Forum: Investing - Theory, News & General
Topic: Emotional impact of spending down assets?
Replies: 100
Views: 10851

Re: Emotional impact of spending down assets?

I can understand the emotional impact. This is my first year for taking required minimum distributions, and it’s a bit unsettling to see the value of my retirement accounts drop, after so many years of consistent gains. And investing the distributions isn’t gratifying when the distributions are afte...
by John151
Wed Oct 25, 2017 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Should you rebalance when you’re in your seventies?
Replies: 25
Views: 2744

Should you rebalance when you’re in your seventies?

I faithfully rebalanced into stocks during the bear market of 2000-2002, and again during the bear market of 2007-2009. That worked out quite well. Stocks eventually recovered, and the shares I bought when stock prices were low have risen in value substantially. But now that I’m in my seventies, wit...
by John151
Wed Oct 25, 2017 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Moved to Vanguard this year. Set target allocation. Now significantly outside target range. Now what?
Replies: 30
Views: 2116

Re: Moved to Vanguard this year. Set target allocation. Now significantly outside target range. Now what?

I’m in a similar situation. My stock funds are about five percentage points above my target, I don’t have stocks to sell in my tax-advantaged accounts, and rebalancing by selling stocks in my taxable accounts would trigger a substantial amount of capital gains taxes. That’s one reason why I’m disinc...
by John151
Sun Oct 22, 2017 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalance with large capital gain
Replies: 13
Views: 1530

Re: Rebalance with large capital gain

I’m in a similar situation, with my stocks allocation about five percentage points above my target. My stock funds are all in taxable accounts, and rebalancing by selling shares would mean paying a substantial amount in capital gains taxes. In addition, my stock funds are yielding about the same as ...
by John151
Wed Oct 18, 2017 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: how long did it take to get used to retirement
Replies: 105
Views: 11005

Re: how long did it take to get used to retirement

It took me five minutes. To me, the two most important benefits of retirement are 1. The freedom of not having a rigid time schedule. 2. The lack of stress. For me, enjoying the lack of stress was immediate. Now, 12 years later, I still enjoy it. I also resurrected an old hobby and have enjoyed spe...
by John151
Mon Oct 16, 2017 3:08 pm
Forum: Investing - Theory, News & General
Topic: IBonds - now or wait? [November 2017 rate]
Replies: 40
Views: 6436

Re: New I Bond Variable Rate for November 2017 - 2.48%

Good to know, LK2012. Thank you for posting this.
by John151
Sun Oct 15, 2017 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: From Vanguard Inflation-Protected Securities to I Bonds?
Replies: 3
Views: 701

Re: From Vanguard Inflation-Protected Securities to I Bonds?

Thank you, lazyday. You’ve convinced me that I should proceed. I started investing in I Bonds in the late 1990’s, when the fixed rates were over 3%, and I stopped buying them when the fixed rates dropped below 1%. Now I’ll start buying them again as a replacement for distributions from my Vanguard S...
by John151
Sun Oct 15, 2017 1:22 am
Forum: Investing - Help with Personal Investments
Topic: From Vanguard Inflation-Protected Securities to I Bonds?
Replies: 3
Views: 701

From Vanguard Inflation-Protected Securities to I Bonds?

My IRA is invested in Vanguard Short-Term Inflation-Protected Securities. This is my first year for taking required minimum distributions, and that includes taking roughly $10,000 from my IRA. I realize that this amount will change over time. I’m thinking about funneling the proceeds into I-Bonds. T...
by John151
Fri Oct 13, 2017 9:21 pm
Forum: Investing - Theory, News & General
Topic: IBonds - now or wait? [November 2017 rate]
Replies: 40
Views: 6436

Re: IBonds - now or wait?

The September CPI-U was released this morning. https://www.bls.gov/schedule/news_release/cpi.htm Can any of the resident experts calculate what it means for the inflation -based component of I Bonds to be issued during the six months beginning November 1? Thanks. March: 243.801 September: 246.819 (...
by John151
Thu Oct 12, 2017 10:16 pm
Forum: Investing - Theory, News & General
Topic: 10 year anniversary of the beginning of the Great Recession
Replies: 45
Views: 4796

Re: 10 year anniversary of the beginning of the Great Recession

As a conservative investor in my sixties, I was 35% in stocks, and 65% in bonds, when the Great Recession hit. As the stock market tanked, I bought enough shares to keep my stocks at 35%. The fact that I had most of my investments in bonds helped me resist the temptation to sell. Now that I’m in my ...