Search found 6472 matches

by kaneohe
Sun Apr 12, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes
Replies: 43
Views: 2578

Re: Quarterly Taxes

whodidntante wrote:
Sun Apr 12, 2020 10:25 am
For those who say they will pay for everything in July, you'll be late with your Q2 taxes. The Q2 deadline has not changed.
yes, it has........ viewtopic.php?t=311208
by kaneohe
Sun Apr 12, 2020 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Tax Year 2019 question about LT capital gains for 12% bracket
Replies: 23
Views: 767

Re: Tax Year 2019 question about LT capital gains for 12% bracket

................................................................................ Qualified dividends vs. ordinary dividends, I believe I understand. I do that worksheet and, yes, for my efforts realize a slightly lower tax burden. ................................................. What am I missing ...
by kaneohe
Sat Apr 11, 2020 4:27 pm
Forum: Forum Issues and Administration
Topic: Russian words in bogleheads.org Google searches?!
Replies: 14
Views: 1773

Re: Russian words in bogleheads.org Google searches?!

no Russian words here searching site:bogleheads.org
by kaneohe
Sat Apr 11, 2020 10:30 am
Forum: Investing - Theory, News & General
Topic: How long after starting investing, did you start to be happy about the power of compounding?
Replies: 92
Views: 6298

Re: How long after starting investing, did you start to be happy about the power of compounding?

I guess you'd have to track your yearly contributions and determine how much appreciation was and compare the 2 over some number of yrs which I guess I never did. All I know is that a semi-log plot of value vs time yielded a remarkably linear plot for 20 yrs with increase of 18%/yr until the 2000 re...
by kaneohe
Sat Apr 11, 2020 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Tax Year 2019 question about LT capital gains for 12% bracket
Replies: 23
Views: 767

Re: Tax Year 2019 question about LT capital gains for 12% bracket

Hello again, experts. I'm back after trying to absorb your kind instruction (and also drinking 3 beers last evening). Might it help if I confess that we file/use Schedule D to claim a loss carryover from the Lehman Bros' meltdown? (Ducking if that’s the wrong way to do that. . .?) In the past, Sch ...
by kaneohe
Fri Apr 10, 2020 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Can’t Reconcile TaxCaster vs. Turbotax
Replies: 20
Views: 595

Re: Can’t Reconcile TaxCaster vs. Turbotax

Taxcaster seems to be a bad brand promoter for TT . Wonder what else they do in the real TT
by kaneohe
Fri Apr 10, 2020 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can’t Reconcile TaxCaster vs. Turbotax
Replies: 20
Views: 595

Re: Can’t Reconcile TaxCaster vs. Turbotax

TaxCaster is simplified. .............................. And I do not think there is a place for qualified dividends. So if you have qualified dividends, the TaxCaster estimate of liability could be high. Just a couple common examples. Anything different from 2018 to 2019? Actually TC does have inpu...
by kaneohe
Fri Apr 10, 2020 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Can’t Reconcile TaxCaster vs. Turbotax
Replies: 20
Views: 595

Re: Can’t Reconcile TaxCaster vs. Turbotax

https://www.mortgagecalculator.org/calc ... ulator.php

how about using this one..........

is all the input for income? no credits? deductions? seems like it should be easy to check to be sure
the inputs are the same if you have a simple return........then the output should be also.
by kaneohe
Fri Apr 10, 2020 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can’t Reconcile TaxCaster vs. Turbotax
Replies: 20
Views: 595

Re: Can’t Reconcile TaxCaster vs. Turbotax

TaxCaster is simplified. .............................. And I do not think there is a place for qualified dividends. So if you have qualified dividends, the TaxCaster estimate of liability could be high. Just a couple common examples. Anything different from 2018 to 2019? Actually TC does have inpu...
by kaneohe
Fri Apr 10, 2020 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Can’t Reconcile TaxCaster vs. Turbotax
Replies: 20
Views: 595

Re: Can’t Reconcile TaxCaster vs. Turbotax

TaxCaster is simplified. .............................. And I do not think there is a place for qualified dividends. So if you have qualified dividends, the TaxCaster estimate of liability could be high. Just a couple common examples. Anything different from 2018 to 2019? Actually TC does have inpu...
by kaneohe
Fri Apr 10, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Year 2019 question about LT capital gains for 12% bracket
Replies: 23
Views: 767

Re: Tax Year 2019 question about LT capital gains for 12% bracket

Yes, I have done the worksheet found on page 33 of the 1040 instructions. What did you put on line 3 of that worksheet? Zero. If you did not file Sch D you would have entered the CG distribution directly on line 6 of the 1040 and then transferred that to line 3 of the wksht. 3. Are you filing Sched...
by kaneohe
Fri Apr 10, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Year 2019 question about LT capital gains for 12% bracket
Replies: 23
Views: 767

Re: Tax Year 2019 question about LT capital gains for 12% bracket

Line 12a says: In those 2 words (see inst.) is a lot so read the instructions and see how the QDIV/CG components are separated from the rest of the income, taxed separately, and then combined. "12a Tax ( see inst. ) " The instructions for line 12a direct you to a wksht: 1. Enter the amount from Form...
by kaneohe
Thu Apr 09, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes and income loss: annualized installment vs. skip 4th quarter
Replies: 4
Views: 308

Re: Estimated taxes and income loss: annualized installment vs. skip 4th quarter

yes , good plan based on known numbers......be sure you use the appropriate 100% or 110% depending on your AGI.
by kaneohe
Thu Apr 09, 2020 9:32 pm
Forum: Personal Investments
Topic: Tax lost harvest gone wrong - down 14% - advice
Replies: 31
Views: 2799

Re: Tax lost harvest gone wrong - down 14% - advice

perhaps one of the lessons here is to only do one thing at a time. At least w/ funds in the same family, you generally can do an exchange the same day so you neutralize the market changes.......you get both up prices for both buy/sell or down. You can save the transfer to another broker for a less v...
by kaneohe
Thu Apr 09, 2020 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax?
Replies: 6
Views: 562

Re: Estimated tax?

I believe you are......secure your safe harbor based on last yrs tax. The < 1K is like the > 90%........for 2020 and you may or may not meet it.
by kaneohe
Thu Apr 09, 2020 11:37 am
Forum: Personal Finance (Not Investing)
Topic: CARES Act Above the Line Charitable Deduction: $300 or $600 for MFJ?
Replies: 40
Views: 3467

Re: CARES Act Above the Line Charitable Deduction: $300 or $600 for MFJ?

don't know the real answer but would be more inclined to believe the accountants than the charities who may wishfully be thinking ........and you're the one who takes the consequences.
by kaneohe
Thu Apr 09, 2020 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Increase W4 or pay quarterly tax estimates?
Replies: 21
Views: 1279

Re: Increase W4 or pay quarterly tax estimates?

I would pay quarterly estimated taxes. I wouldn't want to increase withholding because that can give a clue to an employer about your financial status and dealings. Paying estimated taxes keeps things more private. That’s a good point. Do quarterly estimates factor things such as Medicare and SS wi...
by kaneohe
Wed Apr 08, 2020 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Considering doing more direct debits from Savings
Replies: 6
Views: 345

Re: Considering doing more direct debits from Savings

do you have a brokerage account w/ checking acct? There is no limit on number of withdrawals. You will want to keep minimal balances there so you don't lose interest and will need to watch cash flow to keep it positive. If you have a margin account, you can afford a few slips w/o bouncing checks/pay...
by kaneohe
Wed Apr 08, 2020 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes - education for kids
Replies: 11
Views: 502

Re: Taxes - education for kids

The flow chart may get to be too complex if you want to cover "everything". Perhaps a book in the Dummies series
Investing for Dummies might be more appropriate since you can cover multiple topics in multiple chapters w/ each
chapter being simpler .
by kaneohe
Wed Apr 08, 2020 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes - education for kids
Replies: 11
Views: 502

Re: Taxes - education for kids

nice start! need to distinguish between gross/total income and taxable income. QDIV/CG tax rate is 15%.
by kaneohe
Tue Apr 07, 2020 9:06 pm
Forum: Personal Investments
Topic: Wash sale calendar days
Replies: 7
Views: 577

Re: Wash sale calendar days

mega317 wrote:
Tue Apr 07, 2020 6:49 pm
I'm not sure why there is safety in an extra day. Unless of course the fund tanks in that day
if someone is not confident they are counting the days correctly, one extra day gives a safety margin.
by kaneohe
Tue Apr 07, 2020 6:32 pm
Forum: Personal Investments
Topic: Cost Basis post spin-out
Replies: 6
Views: 732

Re: Cost Basis post spin-out

Sometime you should receive a document like this: https://www.sec.gov/Archives/edgar/data ... 3x9_f4.htm

which will have a short tax summary (p.29) and then a longer one (p.64). Probably won't be as gory as this one.
by kaneohe
Tue Apr 07, 2020 6:12 pm
Forum: Personal Investments
Topic: Wash sale calendar days
Replies: 7
Views: 577

Re: Wash sale calendar days

might be easier to do a simpler example first. Sell on March 29= 2 days left in March 31-29. so need 29 more days in April to get 31 days=April 29

Sell on March 9. 22 days left in March= 31-9. so need 9 more days in April for 31days = April 9

and may be better to give a day extra to be safe.
by kaneohe
Tue Apr 07, 2020 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Undoing your already-taken RMD for 2020
Replies: 119
Views: 7763

Re: Undoing your already-taken RMD for 2020

...................................................................................... Yes, when there is an RMD required, the QCD will reduce the taxable income from the RMD. But in 2020 with no RMD, the QCD will just be a non taxable distribution that does not reduce taxes compared with not doing...
by kaneohe
Tue Apr 07, 2020 2:59 pm
Forum: Personal Investments
Topic: Question on number of rollovers allowed per year
Replies: 6
Views: 405

Re: Question on number of rollovers allowed per year

the restriction of one rollover per year only applies to IRA-IRA indirect rollovers. Direct rollovers IRA-IRA are not restricted. Conversions of IRA-Roth are not restricted. IRA-company plan transfers are not restricted nor are company plan-IRA or company plan-company plan. https://www.irs.gov/reti...
by kaneohe
Mon Apr 06, 2020 11:22 am
Forum: Personal Investments
Topic: Question on number of rollovers allowed per year
Replies: 6
Views: 405

Re: Question on number of rollovers allowed per year

the restriction of one rollover per year only applies to IRA-IRA indirect rollovers. Direct rollovers IRA-IRA are not restricted. Conversions of IRA-Roth are not restricted. IRA-company plan transfers are not restricted nor are company plan-IRA or company plan-company plan. https://www.irs.gov/retir...
by kaneohe
Sun Apr 05, 2020 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Do I owe fed taxes on my state tax refund?
Replies: 18
Views: 1519

Re: Do I owe fed taxes on my state tax refund?

try using the wksht on p.83 of the 1040 instructions https://www.irs.gov/pub/irs-pdf/i1040gi.pdf also this calculator https://cotaxaide.org/tools/Refund%20Calculator.html be sure to reset calculator before using (top right hand corner) also be sure to click the "click to show instructions" near the ...
by kaneohe
Sat Apr 04, 2020 11:14 am
Forum: Investing - Theory, News & General
Topic: Newbie question about Selling and ST/LT Capital Gains tax
Replies: 3
Views: 212

Re: Newbie question about Selling and ST/LT Capital Gains tax

It depends on which shares you sell........LT or ST. If you specify which shares, that determines the holding period. If you don't specify, it may be FIFO so LT. The CG also depends on if you specify or not and also the cost basis method you have specified.
by kaneohe
Sat Apr 04, 2020 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Capital Gains Tax
Replies: 5
Views: 294

Re: Long Term Capital Gains Tax

You don’t pay capital gains tax on ordinary income. The additional dollar will be taxed at 12% (or 22%) only. An additional dollar of ordinary income can displace a CG dollar into the 15% bracket. The additional dollar of ordinary income is taxed at 12% and the displaced CG dollar is taxed at 15%. ...
by kaneohe
Sat Apr 04, 2020 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Without a requirement for RMD's in 2020, are you still going to make your QCD's?
Replies: 24
Views: 1521

Re: Without a requirement for RMD's in 2020, are you still going to make your QCD's?

If you aren't going to withdraw from your Roth IRA, is there any real benefit over a Traditional IRA? P.S. You also intend to leave your IRA's (Trad or Roth) to charity.... If you are leaving your IRA to charity, better not to convert so the charity will get the pre-tax value and won't pay taxes on...
by kaneohe
Wed Apr 01, 2020 10:45 am
Forum: Investing - Theory, News & General
Topic: Retired - 2020 Estimated tax, Market volatility, IRA Conversions?
Replies: 6
Views: 426

Re: Retired - 2020 Estimated tax, Market volatility, IRA Conversions?

How are your tax records? Perhaps check dividends during the 2000 & 2008 downturns. See if they changed significantly yr to yr. I do see significant changes during those periods.......not sure if they are "real" dividends
or the non-qualified part that is changing.
by kaneohe
Tue Mar 31, 2020 10:23 pm
Forum: Personal Investments
Topic: Schwab MM
Replies: 2
Views: 348

Re: Schwab MM

you might consider high yld savings account at Ally or Synchrony Bank. They are no more troublesome than buying/selling SWVXX. Moneylink moves them the next day, the same as having to buy/sell SWVXX. They yield 1.50% currently. FDIC insured. Limit of 6 withdrawals/statement period .
by kaneohe
Tue Mar 31, 2020 3:59 pm
Forum: Personal Investments
Topic: TLH with mutual funds and avoiding volatility losses
Replies: 12
Views: 753

Re: TLH with mutual funds and avoiding volatility losses

You can deduct the losses (not the amount sold) w/ a partial reduction due to the wash sale as estimated by jjface.
by kaneohe
Tue Mar 31, 2020 1:57 pm
Forum: Personal Investments
Topic: Rollover of 401K (403B) "RMD" to TIRA
Replies: 7
Views: 267

Re: Rollover of 401K (403B) "RMD" to TIRA

thanks, jpelder..........no taxes were w/h since custodian also believed it was an "RMD" when distributed and w/h is optional . My understanding is that it is not optional but mandatory when you get past RMDs.
by kaneohe
Tue Mar 31, 2020 1:44 pm
Forum: Personal Investments
Topic: Rollover of 401K (403B) "RMD" to TIRA
Replies: 7
Views: 267

Re: Rollover of 401K (403B) "RMD" to TIRA

Thanks, retiredjg for the confirmation. Another question.......hoping the fungible idea saves me here. The "RMD" came into account A. Thinking it really was an RMD , I reinvested it in account A. Now I am thinking I want to do a rollover into TIRA account B. Can I just bring in $$ from outside bank ...
by kaneohe
Tue Mar 31, 2020 12:55 pm
Forum: Personal Investments
Topic: Rollover of 401K (403B) "RMD" to TIRA
Replies: 7
Views: 267

Rollover of 401K (403B) "RMD" to TIRA

Received automatic "RMD" withdrawal from 401K (403B) in March so since it was not really an RMD due to the suspension of 2020 RMDs, I believe I have 60 days to do rollover........either back to qualified plan or to TIRA? If correct that it can be to TIRA, will this be exempt from the 1 per 12 mos ro...
by kaneohe
Tue Mar 31, 2020 10:39 am
Forum: Personal Investments
Topic: CARES act: IRA RMDs / conversion
Replies: 3
Views: 466

Re: CARES act: IRA RMDs / conversion

since the withdrawal is not an RMD, you can convert it to Roth within 60 days so likely you are past that unless
you can get a waiver https://www.irs.gov/retirement-plans/re ... equirement
by kaneohe
Tue Mar 31, 2020 8:30 am
Forum: Personal Investments
Topic: QCDs RMDs and Roth Conversion
Replies: 13
Views: 996

Re: QCDs RMDs and Roth Conversion

Alan, I think we just have a different view of the semantics here, and thus really agree. I am not talking about the new $300 deduction, just QCDs. I am also not talking about the "base" taxes either, just the taxes incurred by taking TIRA withdrawals. I think you didn't notice that I said: If your...
by kaneohe
Mon Mar 30, 2020 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Undoing your already-taken RMD for 2020
Replies: 119
Views: 7763

Re: Undoing your already-taken RMD for 2020

Just called vanguard at 6:30 ET & got right thru w/o any wait i'm within the 60days when i took my RMD-($25k was RMD- $20k went to my vanguard taxable acct & vanguard withheld $5k fed tax). just called vanguard to see how to reverse the RMD & put $ back into my Trad IRA- (all my IRA now is pre tax)...
by kaneohe
Mon Mar 30, 2020 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Undoing your already-taken RMD for 2020
Replies: 119
Views: 7763

Re: Undoing your already-taken RMD for 2020

All, As far as I know, if you have taken an RMD from an Inherited IRA you do not have an option of rolling it back. This is our situation but an interesting nuance. Is this a correct understanding? WoodSpinner I believe you are correct. Movements of inherited IRAs must be done by direct transfer so...
by kaneohe
Sun Mar 29, 2020 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9893

Re: RMDs May Not Be Required for 2020

Even if RMDs are not required, it may be advantageous to take distributions now - I moved funds from VTSAX in a Vanguard inherited IRA into my regular Vanguard account two weeks ago, keeping them in VTSAX. By doing it now when the market is down, I pay less in taxes on the transferred shares, and f...
by kaneohe
Sun Mar 29, 2020 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9893

Re: IRS Suspends RMD

Yes, still count. You can do a QCD as part of your RMD or separately. In fact, those who will start RMDs at 72 will have either one or two tax years prior to RMDs in which they can do a QCD, which is still allowed at 70.5. 2020 will function like one of those years. Please provide a reference for t...
by kaneohe
Sun Mar 29, 2020 6:07 pm
Forum: Personal Investments
Topic: Double taxation on t-IRA contributions
Replies: 22
Views: 1237

Re: Double taxation on t-IRA contributions

..................................................... One more question; I have read that the IRA custodian reports contributions to IRS on form 5498. The question is, do I also need to report my yearly roth contributions to IRS? Thanks. You don't have to report your Roth contributions to IRS. Howe...
by kaneohe
Sun Mar 29, 2020 5:03 pm
Forum: Personal Investments
Topic: Double taxation on t-IRA contributions
Replies: 22
Views: 1237

Re: Double taxation on t-IRA contributions

https://fairmark.com/general-taxation/reference-room/tax-brackets/2019-retirement-account-and-hsa-figures/ Roth contribution limit starts phasing out at 193K and you appear to be below that so you should be ok for full Roth contribution. You can get your custodian to recharacterize your TIRA contri...
by kaneohe
Sun Mar 29, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9893

Re: RMDs May Not Be Required for 2020

..................................................... A question about QCDs. If I don't have any RMD for 2020, doesn't that imply that I wont have any money available for a QCD. I thought QCDs were limited to your RMD $ total or 100K whichever was smaller. Your last statement is not correct. https:...
by kaneohe
Sun Mar 29, 2020 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9893

Re: RMDs May Not Be Required for 2020

..................................................... A question about QCDs. If I don't have any RMD for 2020, doesn't that imply that I wont have any money available for a QCD. I thought QCDs were limited to your RMD $ total or 100K whichever was smaller. Your last statement is not correct. https:...
by kaneohe
Sun Mar 29, 2020 10:04 am
Forum: Personal Investments
Topic: Schwab Cost-Basis Issue - Am I screwed?
Replies: 3
Views: 533

Re: Schwab Cost-Basis Issue - Am I screwed?

Ask to speak to the cost basis group. They can be a lot more helpful than a random rep.
by kaneohe
Sun Mar 29, 2020 10:01 am
Forum: Personal Investments
Topic: RMDs at Zero, Convert to Roth?
Replies: 4
Views: 455

Re: RMDs at Zero, Convert to Roth?

As the RMD for Traditional IRAs is zero for 2020, does this mean that one can now convert to Roth IRA beginning with dollar one? I don't see where these two items are related. RMD's are just an amount the US Gov say s you have to withdraw so the gov can finally get its tax revenue. Even if you had ...
by kaneohe
Sat Mar 28, 2020 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Some IRS webpages Still Show RMD Age 70.5
Replies: 13
Views: 621

Re: Some IRS webpages Still Show RMD Age 70.5

don't the old geezers stay on the old schedule and the young whippersnappers go on the new schedule so both are needed?