Search found 6860 matches

by pshonore
Thu Apr 16, 2020 11:38 am
Forum: Investing - Theory, News & General
Topic: Stimulus payment reduced by previous Roth conversion
Replies: 28
Views: 1873

Re: Stimulus payment reduced by previous Roth conversion

You may get that back on your 2020 tax return (assuming you do no more conversions and stay under the 150K limit for 2020) And she can return one of those RMDs if done within the last sixty days and you haven't done another rollover with 365 days.
by pshonore
Thu Apr 16, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Merger and 1099B Reporting
Replies: 4
Views: 346

Re: Merger and 1099B Reporting

In 2019 I owned shares of Amerigas (APU). In August of 2019 APU was merged with UGI. As part of this merger I received some cash for APU shares and a stock swap for the other shares from APU shares into UGI shares. At the time of the merger I had a significant loss based on how the merger numbers w...
by pshonore
Wed Apr 15, 2020 3:43 pm
Forum: Personal Consumer Issues
Topic: Yard Leaves: Mulch or Blow?
Replies: 21
Views: 1125

Re: Yard Leaves: Mulch or Blow?

I am surrounded by Oak, Maple and Ash trees. If I do not remove the leaves in the Fall, I would have a matted layer in the Spring probably 6" deep. (and a lot of dead grass). Blowing them across the yard over 20' gets counter productive so I use this: https://www.cyclonerake.com/ Works great but sti...
by pshonore
Wed Apr 15, 2020 11:22 am
Forum: Personal Consumer Issues
Topic: Best Way to Watch British Mystery Shows
Replies: 89
Views: 7726

Re: Best Way to Watch British Mystery Shows

Happy Valley is a great mystery series set in Yorkshire. Mosley, (the Downton Abby butler a/k/a Kevin Butler) is in it and plays almost the exact opposite character
by pshonore
Wed Apr 15, 2020 9:28 am
Forum: Investing - Theory, News & General
Topic: Airbnb getting hit?
Replies: 54
Views: 6004

Re: Airbnb getting hit?

I don't live in an AirBNB town, but we are about 45 minutes outside NYC. Houses are flying off the market here, either being purchased sight unseen or rented. We assume it is people fleeing NYC either as temporary rentals or permanent movers who finally made the decision to leave the city. I'm curi...
by pshonore
Wed Apr 15, 2020 9:22 am
Forum: Personal Investments
Topic: roth conversion
Replies: 13
Views: 1191

Re: RMD 2020

Dahl49 wrote: Tue Apr 14, 2020 11:05 am The CARE ACTS allows 2020 RMD that has been taken in can be reversed and put back into IRA. does anyone know if vanguard allows this?

Thanks
Yes, provided you return it within 60 calendar days and have not done a similar rollover within the past 12 months
by pshonore
Tue Apr 14, 2020 8:29 am
Forum: Personal Consumer Issues
Topic: Lawn tractor not starting
Replies: 35
Views: 1612

Re: Lawn tractor not starting

Get a cheap Voltmeter at Harbor Freight. Test using the center of the post to the other post and also using the surface of the battery clamps. I once had a battery that was great from post to post, but not the other way. Bought a cheap post cleaner ($3) and that solved the problem. Also test the gro...
by pshonore
Mon Apr 13, 2020 10:38 am
Forum: Personal Consumer Issues
Topic: Home/Auto/Umbrella insurance quote discrepancy
Replies: 8
Views: 540

Re: Home/Auto/Umbrella insurance quote discrepancy

I am shopping around for home/auto/umbrella policies, and the quotes are so much lower for one company that I am worried there's a catch! Home & auto policies are usually fairly consistent, but umbrella coverage varies dramatically by carrier, such as whether the umbrella limit applies to uninsured...
by pshonore
Mon Apr 13, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3648

Re: Wealth Preservation With Decades of Institutional Care

No one has mentioned "partnership" policies. They're available in most states and allow one to protect assets from Medicaid spend down equal to the value of your policy. If your policy pays $250 per day for 4 years, you're "protecting" $360K . If your loved one goes through the $360K of benefit, any...
by pshonore
Mon Apr 13, 2020 9:51 am
Forum: Personal Consumer Issues
Topic: Raised Garden Beds - Building Material
Replies: 40
Views: 2055

Re: Raised Garden Beds - Building Material

Looking to kill some time this upcoming weekend and build a couple raised beds. My 9 yo daughter has a growing greenthumb. Wondering what the best material is to use? I've read cedar in the past, but in my experience 2x6 of cedar are very hard to find. Is pressure treated out of the question due to...
by pshonore
Mon Apr 13, 2020 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus payment question - dependent in 2019 not a dependent in 2020
Replies: 7
Views: 365

Re: Stimulus payment question - dependent in 2019 not a dependent in 2020

My guess (and that's exactly what is) is your dependent would qualify in 2020 for $1200 since you will receive no payment for her. If you got $500 for her then I think the results would be different.
by pshonore
Sat Apr 11, 2020 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Helping in-law - hasn't filed taxes since 2010
Replies: 54
Views: 3956

Re: Helping in-law - hasn't filed taxes since 2010

I believe refunds are not paid on returns more than 3 years old. So 2015 and older are gone unless you owe. 2016 returns can be filed through 7/15/20 and still get a refund. And it has to received by 7/15, not just mailed. If 2016 - 2019 tax returns are filed now, it is highly unlikely that any ref...
by pshonore
Sat Apr 11, 2020 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Helping in-law - hasn't filed taxes since 2010
Replies: 54
Views: 3956

Re: Helping in-law - hasn't filed taxes since 2010

I believe refunds are not paid on returns more than 3 years old. So 2015 and older are gone unless you owe. 2016 returns can be filed through 7/15/20 and still get a refund. And it has to received by 7/15, not just mailed. If 2016 - 2019 tax returns are filed now, it is highly unlikely that any ref...
by pshonore
Sat Apr 11, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Helping in-law - hasn't filed taxes since 2010
Replies: 54
Views: 3956

Re: Helping in-law - hasn't filed taxes since 2010

I believe refunds are not paid on returns more than 3 years old. So 2015 and older are gone unless you owe. 2016 returns can be filed through 7/15/20 and still get a refund. And it has to received by 7/15, not just mailed.
by pshonore
Fri Apr 10, 2020 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting 1099-B into TurboTax upon CD redemption
Replies: 8
Views: 256

Re: Reporting 1099-B into TurboTax upon CD redemption

Thanks for all the good information. So I do plan on reporting the info to avoid hassles later on. I am currently using Turbo Tax Deluxe. I am still however not able to determine how to enter the 1099-B information without upgrading to Turbo Tax Premier. If I try to skip the upgrade option, it reve...
by pshonore
Fri Apr 10, 2020 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting 1099-B into TurboTax upon CD redemption
Replies: 8
Views: 256

Re: Reporting 1099-B into TurboTax upon CD redemption

What version of TT are you using? Deluxe will certainly handle this even though they will suggest an upgrade which you should ignore. Even Basic should do it.
by pshonore
Fri Apr 10, 2020 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Keeping K-1s for IRA
Replies: 3
Views: 263

Re: Keeping K-1s for IRA

You do know that UBTI in an MLP does not usually rear its ugly head until you sell your position. At that time all the depreciation that allowed your UBTI to be negative will get recaptured and the result will usually be positive UBTI. Your IRA custodian will need all the K1 forms to determine how m...
by pshonore
Thu Apr 09, 2020 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: [Auto insurance companies issuing refunds due to coronavirus]
Replies: 103
Views: 7437

Re: Allstate offers 15% [car insurance] rebate for reduced driving

Have to wonder what the real reduction in their costs were... FAR more than 15% I would bet. You have to consider that a significant factor an insurance company's net cost is investment gains/losses. They don't just put your premiums under a mattress. Now, I would think they would invest far more c...
by pshonore
Thu Apr 09, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth asking car insurer to decrease premium during pandemic?
Replies: 32
Views: 1663

Re: Is it worth asking car insurer to decrease premium during pandemic?

And when touch tone came along ATT supported both tone and pulse dialing for several years. And many push button phones had a switch so you set it for either touch or pulse. I always set mine to pulse because touch tone service was a couple more dollars per month. So I guess I was a Boglehead befor...
by pshonore
Thu Apr 09, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: self-employment tax--drastically different rates based on income?
Replies: 6
Views: 355

Re: self-employment tax--drastically different rates based on income?

Self employment tax is a blend of social security (12.4%) and medicare taxes (2.9%). Social security tax caps out at $132,900. Medicare has no cap. https://www.ssa.gov/policy/docs/quickfacts/prog_highlights/RatesLimits2019.html If you do not have a W-2 job, your self employment tax is 15.3% on the ...
by pshonore
Thu Apr 09, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus check question.
Replies: 28
Views: 2745

Re: Stimulus check question.

You were looking at the full phase out number. I.e, if you make >198K, you get nothing. (if you are MFJ and have no dependent kids) Is there a different phase out if you have kids? I believe most of what's been written says you lose $50 per person for every $1000 your MFJ AGI exceeds $150K. But how...
by pshonore
Thu Apr 09, 2020 9:24 am
Forum: Personal Finance (Not Investing)
Topic: auto insurance claim
Replies: 19
Views: 782

Re: auto insurance claim

How will this accident affect her when she turns in the car after her lease is up, assuming she doesn't buy it at end of lease? If she turns it in, will she be charged for diminished value, since the car was was damaged? No, she will not be. That is one of the benefits of leasing a car. Even if the...
by pshonore
Wed Apr 08, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Kitces article on PPP/EIDL
Replies: 0
Views: 322

Kitces article on PPP/EIDL

Michael Kitces has published an article that subject. I don't think there's anything really new in it but he does have several good examples of the various situations. He also mentions the Massachusetts SBA office released guidance indicating that EIDL grants would be subject to a “$1,000 per employ...
by pshonore
Wed Apr 08, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: auto insurance claim
Replies: 19
Views: 782

Re: auto insurance claim

If they already know about it, it’s recorded as an at fault accident. The payout won’t significantly worsen things. Add in rental coverage at 5+ days and potential supplemental damage on tear down and I’d take the payout. Exactly, expect roughly another $1k charge for loss of use. Loss of use on a ...
by pshonore
Tue Apr 07, 2020 6:45 pm
Forum: Personal Investments
Topic: Question on Social Security and Spousal Strategy
Replies: 25
Views: 1893

Re: Question on Social Security and Spousal Strategy

My wife has filed for Social Security benefits at age 62. I am currently 67 and not going to file until 70. But I did not file for spousal benefits. This is a big mistake, right? Is there any downside to me applying for these benefits? Does it affect my future benefits when I apply at age 70? Yes, ...
by pshonore
Tue Apr 07, 2020 1:21 pm
Forum: Personal Consumer Issues
Topic: No sports but cable bills unchanged
Replies: 86
Views: 6336

Re: No sports but cable bills unchanged

Canceled Directv today. Finally had enough of paying that bill. Be sure to return your equipment and get a receipt. I cancelled a few months back and was told to take it to local UPS store and they would box it, return it and supply a receipt (which they did). Like most companies these days, if you...
by pshonore
Mon Apr 06, 2020 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Federal tax refund: incorrect amount
Replies: 15
Views: 1330

Re: Federal tax refund: incorrect amount

It might be because both of the W2 "payors" were related to the same employer (although I don't know how the IRS would know that unless there's something identifying sick leave on the W2.) If your employer withholds too much you cannot get it back via tax return. From an old Pub 17: If any one emplo...
by pshonore
Mon Apr 06, 2020 10:04 am
Forum: Investing - Theory, News & General
Topic: Brokerage Account Setup for Maximum Step-Up Basis Upon Death
Replies: 13
Views: 511

Re: Brokerage Account Setup for Maximum Step-Up Basis Upon Death

If you live in a community property state, the rules may be different.
by pshonore
Mon Apr 06, 2020 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Kid's taxes
Replies: 3
Views: 323

Re: Kid's taxes

I have a unique situation for 2019 tax year. Kid's account generated a 1099-B capital gains which exceed the limit to be included in parents return. So have to file a separate tax return for the kid in 2019. Question I have is, do I claim the kid as dependent on my 2019 tax return or not claim as d...
by pshonore
Mon Apr 06, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: [Auto insurance companies issuing refunds due to coronavirus]
Replies: 103
Views: 7437

[Auto insurance companies issuing refunds due to coronavirus]

[Title was "Allstate offers 15% [car insurance] rebate for reduced driving". Use this thread for all insurance companies --admin LadyGeek] Allstate said Monday that it will pay out more than $600 million to auto insurance customers over the next two months as part of its Shelter-in-Place Payback pl...
by pshonore
Sun Apr 05, 2020 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Tax impact of switch from employer with retirement plant to employer without retirement plan
Replies: 4
Views: 218

Re: Tax impact of switch from employer with retirement plant to employer without retirement plan

Not positive about this but I believe if you leave an employer who provides a retirement plan mid-year , you're consider covered by that for the whole year for for purposes of IRA contribution limits, etc. Of course, that would change in the following year.
by pshonore
Sun Apr 05, 2020 12:44 pm
Forum: Personal Consumer Issues
Topic: No sports but cable bills unchanged
Replies: 86
Views: 6336

Re: No sports but cable bills unchanged

HIgh paid athletes, sports teams, and sports networks are still being paid as if nothing has happened. Sports disappeared about a month ago with several more months to come. While this will probably accelerate the death of the cable subscription model, it seems ridiculous that currently everyone in...
by pshonore
Sun Apr 05, 2020 9:27 am
Forum: Investing - Theory, News & General
Topic: What's the best website to see a stock/mutual funds previous performance?
Replies: 13
Views: 876

Re: What's the best website to see a stock/mutual funds previous performance?

buyupside.com is a good site but limited to stocks. (no ETFs or funds)
by pshonore
Sun Apr 05, 2020 8:58 am
Forum: Personal Consumer Issues
Topic: What Amazon Prime (free) movies y'd recommend ?
Replies: 78
Views: 6863

Re: What Amazon Prime (free) movies y'd recommend ?

Netflix - The British Game - for those who love Soccer (written by Downton Abby guy)
by pshonore
Fri Apr 03, 2020 11:46 am
Forum: Personal Investments
Topic: Fidelity Roth conversion questions
Replies: 8
Views: 347

Re: Fidelity Roth conversion questions

It’s very easy to do an in kind conversion of as much or as little of your ira as you want at Fidelity. Remember it is best to pay taxes from your taxable account as opposed to having taxes withheld. Done several conversions at Fido - can convert all or part of any holding in a Traditional IRA. One...
by pshonore
Fri Apr 03, 2020 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on one-time special dividend
Replies: 28
Views: 1427

Re: Taxes on one-time special dividend

Yes, they are dependents. My reference to expenses was based on the assumption that I needed to be able to demonstrate that the money was going to benefit the children, which feels like a very easy case to make based on such low amounts. Does that make sense? I would not consider $16000 to be “such...
by pshonore
Thu Apr 02, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on one-time special dividend
Replies: 28
Views: 1427

Re: Taxes on one-time special dividend

Yes, they are dependents. My reference to expenses was based on the assumption that I needed to be able to demonstrate that the money was going to benefit the children, which feels like a very easy case to make based on such low amounts. Does that make sense? I got the mistaken impression you were ...
by pshonore
Thu Apr 02, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on one-time special dividend
Replies: 28
Views: 1427

Re: Taxes on one-time special dividend

Technically, I think you need to be holding your children’s share in a segregated account or at least separately accounting for their money. Perhaps you are, just thought worth noting since you mentioned putting it in a joint account with your wife. Thanks - up until now the amounts have been so in...
by pshonore
Wed Apr 01, 2020 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: COVID-19 Stimulus Payment Issue
Replies: 86
Views: 7973

Re: COVID-19 Stimulus Payment Issue

You'll be getting a check in the next few months based on your 2018 return or 2019 if filed. The credit will also be refigured in 2021 based on 2020 numbers at which time if you qualify for more you will get it. If you qualify for less, you do not have to repay the previous excess. I don't know what...
by pshonore
Wed Apr 01, 2020 3:37 pm
Forum: Investing - Theory, News & General
Topic: [CARES Act] Overview
Replies: 98
Views: 6736

Re: CARES Act [Stimulus bill]- text (and analysis) of bill

Here's a link to the COVID-19 relief bill, called the CARES Act. From the congress.gov website. Let the reading (and discussion) begin! https://www.congress.gov/bill/116th-congress/senate-bill/3548/text I think this text is more recent. https://www.congress.gov/bill/116th-congress/house-bill/748/te...
by pshonore
Tue Mar 31, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Do pre-tax 401k contributions reduce AGI?
Replies: 5
Views: 441

Re: Do pre-tax 401k contributions reduce AGI?

Amateur question, but important. Can I reduce my AGI by increasing pre-tax 401k contributions? The stimulus checks apparently will ultimately be figured on 2020 income . If I can reduce my 2020 AGI to below $150,000, we will get the maximum stimulus benefit when we file 2020 taxes. My 2019 income w...
by pshonore
Tue Mar 31, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Undoing your already-taken RMD for 2020
Replies: 120
Views: 8482

Re: Undoing your already-taken RMD for 2020

Alan, yes Vanguard made me aware of the 60 day and once per 365 day rollover rule. It was part of the script. Some people will get tripped up, but probably the number of people putting RMDs back will be relatively small. Dale While it may not be a valid sample, many folks I've talked to take all, o...
by pshonore
Tue Mar 31, 2020 11:04 am
Forum: Personal Investments
Topic: If you have loss harvested - check your "Realized Gains/Losses"
Replies: 14
Views: 1557

Re: If you have loss harvested - check your "Realized Gains/Losses"

ChangedInvestor2019 wrote: Tue Mar 31, 2020 2:37 am In Merrill Edge you can select exactly which lots you want to sell. So that is quite helpful..

Switched from VTI to ITOT and VXUS to IXUS.. will only buy ITOT and IXUS for > month..
I think that's what OP did but VG ignored it when reporting the sale.
by pshonore
Mon Mar 30, 2020 10:04 pm
Forum: Personal Investments
Topic: Already Made a QCD?
Replies: 16
Views: 1102

Re: Already Made a QCD?

QCD and RMD are not necessarily linked. The QCD allows charitable giving without showing income (where that income affects means tested programs). I anticipate making QCDs in my year of 70 (My birthday is early in the year so I will be over 70.5) and my year of 71, even though RMDs are not required...
by pshonore
Mon Mar 30, 2020 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Taking pay cut but not qualified for stimulus benefits?
Replies: 4
Views: 761

Re: Taking pay cut but not qualified for stimulus benefits?

I want to make sure I understand this correctly. I have two questions- 1. I had a child in 2019. My 2018 taxes show a MFJ AGI of about 300k. I can file my 2019 return at any time but don't feel like it yet because they show we owe. My 2019 MFJ AGI is a bit higher. But if I did file for 2019 ASAP, w...
by pshonore
Mon Mar 30, 2020 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Do children need a social security number in order to receive a child payment under the recently passed stimuls package?
Replies: 16
Views: 1319

Re: Do children need a social security number in order to receive a child payment under the recently passed stimuls pack

I believe its $1200 per adult and $500 per kid. Phase out starts at 75K for singles and 150K for MFJ. You lose $50 for each $1000 over the limit so singles are done at 99K and MFJ at 198K of AGI.
by pshonore
Mon Mar 30, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Undoing your already-taken RMD for 2020
Replies: 120
Views: 8482

Re: Undoing your already-taken RMD for 2020

Just go ahead and transfer in the cash and mark it asa rollover. WoodSpinner Just for laughs, I tried to simulate this at Fido doing an online transfer from a taxable account (where in theory the RMD is) to an IRA account. First thing the form wanted was contribution year (2019 or 2020). That impli...
by pshonore
Mon Mar 30, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Do children need a social security number in order to receive a child payment under the recently passed stimuls package?
Replies: 16
Views: 1319

Re: Do children need a social security number in order to receive a child payment under the recently passed stimuls pack

The stimulus checks are based on recent tax returns. The only only way the IRS will know about the child is if they had been claimed as a dependent, and the only way to claim a dependent child is with their SSN. So, yes they need a SSN. Dependents without SSNs who are not eligible for SSNs can be c...
by pshonore
Mon Mar 30, 2020 8:44 am
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 10062

Re: IRS Suspends RMD

Bit of mess being too quick! In January I took QCDs, RMDs and had tax withheld. I do not want to reverse the RMDs. I did this early to simplify my taxes. Oh well. I think you are missing a key point. You took your QCDs and RMDs when the valuation was still high, so you withdrew a lot fewer shares t...
by pshonore
Sun Mar 29, 2020 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited Brokerage Account [when must assets be dispersed?]
Replies: 2
Views: 240

Re: Inherited Brokerage Account [when must assets be dispersed?]

Are there any regulations regarding the inheritance of brokerage accounts? I assume the stepped up basis applies to holdings in brokerage accounts like retirement accounts for tax purposes. Is there a time limit on how long the investments can sit in that account before they are liquidated and disp...