Search found 4983 matches

by kaneohe
Tue Jul 24, 2018 6:42 am
Forum: Personal Consumer Issues
Topic: Medicare Plan D - Oral Cancer drugs
Replies: 5
Views: 601

Re: Medicare Plan D - Oral Cancer drugs

dm200 wrote:
Mon Jul 23, 2018 5:56 pm
No personal experience or knowledge, but I believe some such drugs are (or may be) covered under Part A or B - and not under Part D. I suggest researching that as well.
https://www.medicare.gov/coverage/presc ... tient.html
by kaneohe
Sun Jul 22, 2018 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

Electron wrote:
Sun Jul 22, 2018 4:05 pm
The Mortgage Calculator site provides a page where you can send comments or ask questions.

Refer to the bottom of the page.

https://www.mortgagecalculator.org/contact/
Good eyes and great find!
by kaneohe
Sun Jul 22, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

fortunately doesn't affect me but I'm sure the creator of that calculator would welcome inputs and darts to help improve the tool. Possibly, but it isn't immediately obvious how to do so. ............................................... You are correct.........best I could find was this w/ a phone n...
by kaneohe
Sun Jul 22, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 8364

Re: Best Available 2018 tax estimator

I have my projected 2018 taxes calculated in a spreadsheet and just tested several of the tools mentioned in this thread. The Mortgage Calculator and Dinkytown Calculator are very easy to use and I like these tools. My return is quite complex and the results of each calculator matched my spreadshee...
by kaneohe
Sun Jul 22, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. .................................................., but I didn't like this: Your taxes are estimated at $3,710. Your outstanding tax bill $3,710. This is 6.74% of your total income of $55,000. Your total ta...
by kaneohe
Sun Jul 22, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. That, unfortunately, is wrong for the refundable part of the Child Tax Credit: it allows $2K/child but the law allows only $1400/child. fortunately doesn't affect me but I'm sure the creator of that calcula...
by kaneohe
Sun Jul 22, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

Kaneohe - I assume because capital gain distributions are taxed the same way as qualified dividends the amount of those distributions could be added to qualified dividends for entry in this calculator. I am accustomed to entering those two items separately in TCE software programs and was looking f...
by kaneohe
Sun Jul 22, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term capital gains taxation question
Replies: 9
Views: 683

Re: Long-term capital gains taxation question

What livesoft says is so true ........with RE, you have depreciation recapture to deal with and perhaps more. Toy to play with https://www.mortgagecalculator.org/calcs/1040-calculator.php http://www.wgcpas.com/news/alerts/405-tax-matters-tax-implications-of-depreciation-recapture-when-selling-real-e...
by kaneohe
Sun Jul 22, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

:oops: I see now ... In re-doing my taxes using exact numbers it's still within 1% but, it seems the tax owed is slightly different between their tool and my spreadsheet (couple of hundred dollars out of about $20K). Likely something is different between implementations of the "Qualified Dividends ...
by kaneohe
Sun Jul 22, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term capital gains taxation question
Replies: 9
Views: 683

Re: Long-term capital gains taxation question

250K income less 24K std deduction (if you use that) yields 226K taxable income (assuming no other adjustments). Taxable income up to 77.4K is in 12% bracket (or perhaps lower). Income over that is in the 22% or24% brackets. CG in the >= 22% brackets is taxed at 15%. The amount below is taxed at 0% ...
by kaneohe
Sun Jul 22, 2018 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

Kaneohe - I like the calculator but where is capital gain distributions entered? tomd..........see those wide V's on the right hand side.........click on those and the whole category expands to give you the detail you want. I like the one page format so I don't have to look thru a whole bunch of st...
by kaneohe
Sat Jul 21, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

https://www.mortgagecalculator.org/calcs/1040-calculator.php This is a nice 1 pg calculator. .................................. Would be nice if they allowed you to input actual numbers instead of using slider bars. .................................. One Ping You can enter actual numbers in the box...
by kaneohe
Sat Jul 21, 2018 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mock-Up IRS Forms for 2018 Tax Year
Replies: 25
Views: 1930

Re: Mock-Up IRS Forms for 2018 Tax Year

jacoavlu wrote:
Sat Jul 21, 2018 6:30 pm
I think this one works pretty well

https://www.calcxml.com/calculators/tru ... calculator
does it have inputs for SS , LTCG/QDIV income?
by kaneohe
Sat Jul 21, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Parking $$ for future tax payment
Replies: 12
Views: 1020

Re: Parking $$ for future tax payment

If you meet the safe harbor of 100% (or 110%) of last yrs taxes, you could delay the rest till April next yr.
by kaneohe
Fri Jul 20, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Part D IRMAA
Replies: 2
Views: 298

Re: Part D IRMAA

I don't know how the rules work w/ MA plans......just one data pt. observation. I have Medigap plan. When subject to IRMAA, both IRMAA B/D surcharges show up on SS report late in yr. for next yr. DW has MA plan. When subject to IRMAA, only the IRMAA B surcharge shows up on SS report. I don't know if...
by kaneohe
Thu Jul 19, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Have you ever purchased a pricy musical instrument?
Replies: 82
Views: 4573

Re: Have you ever purchased a pricy musical instrument?

Many decades ago, bought a higher grade violin for daughter who requested it. Forget exactly how much but I remember thinking I could buy a new car for that price. Years later, daughter moved to LA area and then joined local symphony orchestra. Within wks, she met her now husband there and some yrs ...
by kaneohe
Wed Jul 18, 2018 11:47 pm
Forum: Personal Consumer Issues
Topic: switching between AARP Medigap plans
Replies: 27
Views: 2902

Re: switching between AARP Medigap plans

If you are still enamored of UHC, remember when comparing costs, apples to apples, to include the annual AARP dues you must pay to keep your insurance. it may have changed from three years ago when I applied for an AARP/UHC Medigap plan, or maybe they lied to me, but I was told you only need to bel...
by kaneohe
Wed Jul 18, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Question about LTCG and estimated taxes safe harbor.
Replies: 2
Views: 302

Re: Question about LTCG and estimated taxes safe harbor.

She should be fine not paying anything until April. You might feel more comfortable if you look at the form/worksheets and instructions for 1040-ES (and CA 540-ES). I don't see anything there that suggests a different rule if prior yr tax was 0.
by kaneohe
Tue Jul 17, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property
Replies: 13
Views: 1048

Re: Unclaimed property

for those who have successfully recovered property from state...........how easy/long to recover? I realize this could be state-dependent but curious what kind of info/documentation you had to provide.
by kaneohe
Sat Jul 14, 2018 7:25 am
Forum: Personal Consumer Issues
Topic: Be Careful Using Mailboxes
Replies: 62
Views: 9121

Re: Be Careful Using Mailboxes

My CPA says we are his only client who insists on NOT writing checks with our tax returns but always paying online thru e-check or CCard. It just feels safer NOT to write both our full SS#s on the check as IT’S required. ................................................. doesn't change your main pt ...
by kaneohe
Sat Jul 14, 2018 6:42 am
Forum: Personal Consumer Issues
Topic: Be Careful Using Mailboxes
Replies: 62
Views: 9121

Re: Be Careful Using Mailboxes

My CPA says we are his only client who insists on NOT writing checks with our tax returns but always paying online thru e-check or CCard. It just feels safer NOT to write both our full SS#s on the check as IT’S required. ................................................. doesn't change your main pt ...
by kaneohe
Fri Jul 13, 2018 8:09 pm
Forum: Investing - Help with Personal Investments
Topic: massive Roth conversion
Replies: 39
Views: 3356

Re: massive Roth conversion

I thought that the MAGI subtracts out the Roth conversion amounts from AGI so that MAGI would be unaffected by those amounts. Nope. MAGI = AGI (Adjusted Gross Income, which includes the taxable part of any Roth Conversion) + Tax-Exempt Interest. Many kinds of MAGI inhabit this world.......this one ...
by kaneohe
Fri Jul 13, 2018 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: massive Roth conversion
Replies: 39
Views: 3356

Re: massive Roth conversion

............................................................... .................................................................. Another consideration would be whether or not you wish to make Roth contributions, since the phase-out limits would limit how much you can convert. I thought that the M...
by kaneohe
Wed Jul 11, 2018 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 8364

Re: Best Available 2018 tax estimator

The Dinkytown calculator is also available here: https://www.jacksonhewitt.com/tax-tools/tax-refund-calculators/1040-tax-calculator/ I notice that if you have SS income, the calculator indicates which federal tax bracket you are in, but it does not indicate your true marginal bracket (taking into c...
by kaneohe
Tue Jul 10, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Personal 529 inherited by sons - are they taxable?
Replies: 16
Views: 1616

Re: Personal 529 inherited by sons - are they taxable?

Sorry for butting in here w/ a similar question..........I have a 529 plan for granddaughter with me as owner. Successor owner is daughter, mother of grandchild. When daughter takes over account, is that a taxable transaction....beneficiary remains the same.
by kaneohe
Tue Jul 10, 2018 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3107

Re: What's up with Wells Fargo

I had a similar notice on inactive checking account. A call to them caused them to remove the inactivity note but for good measure I also did a small deposit. Seems like , as others have said, they should focus on whether they know the owner is alive rather than whether the account is active. I acce...
by kaneohe
Tue Jul 10, 2018 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: RMD + Federal taxes
Replies: 19
Views: 1549

Re: RMD + Federal taxes

This will be my first year of RMD, and with the new tax structure it is rather difficult for me to estimate how much I will have to pay for taxes. I ran the mortgage calculator using 2017 info as to: Tax exempt interest Ordinary dividends Qualified dividends Short and long term capital gains It cam...
by kaneohe
Tue Jul 10, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting question about inherited Roth IRA
Replies: 6
Views: 585

Re: Accounting question about inherited Roth IRA

On my tax return, I noticed that my accountant had placed the required minimum distribution from my inherited Roth IRA on a line that said it was a non-qualified distribution. ......................... according to this chart (Fig 2.1) https://www.irs.gov/publications/p590b#en_US_2017_publink100023...
by kaneohe
Tue Jul 10, 2018 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: RMD + Federal taxes
Replies: 19
Views: 1549

Re: RMD + Federal taxes

see if you can meet one of the safe harbors http://fairmark.com/estimate/whomust.htm
1) you pay >=90% of this yrs taxes by w/h and estimated taxes
2) you pay >=100% of last yrs taxes by w/h and estimated taxes (110% if AGI >150K)
3) you owe less than 1K
by kaneohe
Tue Jul 10, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Accounting question about inherited Roth IRA
Replies: 6
Views: 585

Re: Accounting question about inherited Roth IRA

On my tax return, I noticed that my accountant had placed the required minimum distribution from my inherited Roth IRA on a line that said it was a non-qualified distribution. ......................... according to this chart (Fig 2.1) https://www.irs.gov/publications/p590b#en_US_2017_publink100023...
by kaneohe
Mon Jul 09, 2018 7:35 am
Forum: Investing - Help with Personal Investments
Topic: Income stream at 70
Replies: 29
Views: 2864

Re: Income stream at 70

I don't know enough to know what to ask. I just assumed there were strategies for reducing or deferring RMDs If they take money out of the traditional IRA now, they can pay taxes on it and reduce their future RMDs (since they would be based on future account balances). That money can be spent, rein...
by kaneohe
Sun Jul 08, 2018 7:12 pm
Forum: Personal Consumer Issues
Topic: What methods are you using to deterimine price to offer on new cars
Replies: 15
Views: 1505

Re: What methods are you using to deterimine price to offer on new cars

E-mail dealers and ask them for an out-the-door price (including all taxes, fees etc.) on the exact vehicle you are looking at. You can take the best offer or have them start negotiating against each other as outlined here: https://www.bogleheads.org/forum/viewtopic.php?t=124638 One other note, whe...
by kaneohe
Sun Jul 08, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Is Social Security income included in MAGI for determination of medicare high income adjustment fee?
Replies: 9
Views: 1352

Re: Is Social Security income included in MAGI for determination of medicare high income adjustment fee?

Artsdoctor wrote:
Sun Jul 08, 2018 8:39 am
The reason for the current taxation amount for some of the social security benefit and complicated and is listed below:

https://www.ssa.gov/history/taxationofbenefits.html
useful link, thanks. Supports what Alan S. said above.
by kaneohe
Sat Jul 07, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: What I spent in 6 months on medicare
Replies: 159
Views: 13302

Re: What I spent in 6 months on medicare

No, that is incorrect IRMAA tacks on an additional charge to both Part B and Part D monthly premiums. I agree with this. What is "incorrect"?? I believe the affects of IRMAA are identical whether on Original Medicare and a drug plan - AND Medicare Advantage plan with the drug plan. Am I correct? Ye...
by kaneohe
Fri Jul 06, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA conversion resulting MAGI over 170K
Replies: 27
Views: 2269

Re: Excess Roth IRA conversion resulting MAGI over 170K

The above example assumes that the taxes on the conversion are paid from the TIRA distribution. Results from the conversion are more positive if the taxes are paid from outside funds, and that is how most conversions are handled. Here is an interesting demo from Bob Keebler showing how results of a...
by kaneohe
Tue Jul 03, 2018 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes for those drawing income
Replies: 9
Views: 998

Re: Taxes for those drawing income

Some family friends retired in early to mid 60s . With lowered income in the 15% bracket, they decided to do Roth conversions to top of 15% bracket. Due to significant other income (interest, dividends,CG distributions, SS) from a non-optimum portfolio , only a small amount could be converted each y...
by kaneohe
Mon Jul 02, 2018 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: IRS inquiry regarding backdoor Roth
Replies: 13
Views: 2256

Re: IRS inquiry regarding backdoor Roth

............................................ I need to understand this. I have a Rollover IRA which has a combination of non-deductible contributions and pre-tax rollover, and I was going to rollover the pretax to employer 403b and then convert the non-deductible to Roth with no tax implication. Se...
by kaneohe
Mon Jul 02, 2018 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Keeping or breaking a CD in favor of another with tax impact
Replies: 6
Views: 632

Re: Keeping or breaking a CD in favor of another with tax impact

................................................ 1)One of the things i'm unclear on is if the early withdraw penalties are tax deductible on federal and CA state returns. 2)Also, how does the deduction work? The bank reports the full interest i accrued as income and also reports the penalty i paid ...
by kaneohe
Sun Jul 01, 2018 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Any way to "forfeit" income to avoid IRMAA cliff
Replies: 27
Views: 2744

Re: Any way to "forfeit" income to avoid IRMAA cliff

Does tax exempt income, such as municipal bond interest, count towards the IRMAA calculation? yes: "Notably, these “income-related monthly adjustment amount” (IRMAA) surcharges are applied based on Modified Adjusted Gross Income (which in this case is simply the individual’s Adjusted Gross Income, ...
by kaneohe
Sat Jun 30, 2018 7:50 am
Forum: Personal Finance (Not Investing)
Topic: New IRS forms
Replies: 4
Views: 769

Re: New IRS forms

Do you mean worksheets or do you mean schedules? Worksheets in the past were not sent in. The schedules contain important info that were removed from the forms so somebody could brag about postcards. Since they were originally on the forms, I would think they would be sent in to help understanding t...
by kaneohe
Fri Jun 29, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Roth Ira: File Amended Return - Excess Withdrawn Today !
Replies: 7
Views: 533

Re: Roth Ira: File Amended Return - Excess Withdrawn Today !

http://fairmark.com/retirement/roth-acc ... roth-iras/

Something to read while you're waiting for Alan S. to give you the real answers.
by kaneohe
Wed Jun 27, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 17437

Re: IRS publishes draft 2018 1040 - Huge changes made

Does anyone know whether the new IRS forms will be mailed to the taxpayers? Tax forms have not been automatically mailed out for many years. However, if you call 1-800-tax-form and request the forms after December 1, 2018, the IRS will mail the forms to you. .....you can also order the forms online...
by kaneohe
Wed Jun 27, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes question
Replies: 12
Views: 824

Re: Estimated taxes question

from the 1040-ES instructions: I guess I would make a copy of the "Quarter" you are paying for and then label subsequent ones e.g. 3A, 3B, 3C etc. "TIP: You can make more than four estimated tax payments. To do so, make a copy of one of your unused estimated tax payment vouchers, fill it in, and mai...
by kaneohe
Wed Jun 27, 2018 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 17437

Re: IRS publishes draft 2018 1040 - Huge changes made

Does anyone know whether the new IRS forms will be mailed to the taxpayers? Tax forms have not been automatically mailed out for many years. However, if you call 1-800-tax-form and request the forms after December 1, 2018, the IRS will mail the forms to you. .....you can also order the forms online...
by kaneohe
Wed Jun 27, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 17437

Re: IRS publishes draft 2018 1040 - Huge changes made

The age and blindness questions are now asked in the first few lines of the postcard. With tax software, I assume that is all taken care of by the time you get to the bottom line. If doing by hand, I don't yet see where to make the subtraction. Line 8 on backside is std/itemized deduction. Just lik...
by kaneohe
Tue Jun 26, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 17437

Re: IRS publishes draft 2018 1040 - Huge changes made

yousha wrote:
Tue Jun 26, 2018 9:37 pm
If one is over 65 years of age and single, my understanding is that one can add $1350 to the $12,000. Where can one find that on the new tax form? (Standard Deduction)
It's not on the 2017 form either. The 1040 refers you to the instructions for the 1040 and the number is in a table there.
by kaneohe
Tue Jun 26, 2018 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Taxability of non-resident state income tax refund.
Replies: 4
Views: 381

Re: Taxability of non-resident state income tax refund.

https://www.irs.gov/faqs/interest-dividends-other-types-of-income/1099-information-returns-all-other/1099-information-returns-all-other Did you get a benefit from itemizing that 5K tax? The part that is taxable depends on how much benefit you got vs the std. deduction. See the wksht in the referenc...
by kaneohe
Tue Jun 26, 2018 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Taxability of non-resident state income tax refund.
Replies: 4
Views: 381

Re: Taxability of non-resident state income tax refund.

https://www.irs.gov/faqs/interest-dividends-other-types-of-income/1099-information-returns-all-other/1099-information-returns-all-other Did you get a benefit from itemizing that 5K tax? The part that is taxable depends on how much benefit you got vs the std. deduction. See the wksht in the referenc...