Search found 639 matches

by drzzzzz
Wed Apr 07, 2021 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Tax bill split between spouses
Replies: 81
Views: 4279

Re: Tax bill split between spouses

This will likely sound inappropriate. We too split taxes, since the bulk of our prior income and almost all of our accounts are separate. However, we don't bother to calculate how much either of us should pay, but just generally agree to split in a way that we think makes sense and works for us. Bas...
by drzzzzz
Sun Apr 04, 2021 8:38 pm
Forum: Personal Investments
Topic: Help transferring Funds from Vanguard to Fidelity in a Roth IRA
Replies: 16
Views: 980

Re: Help transferring Funds from Vanguard to Fidelity in a Roth IRA

I did this about 3 months ago transferring a Roth and other accounts from Vanguard to Fidelity. My suggestions are the following - if you want VTSAX convert at Vanguard to VTI (since the conversion will be free and be done quickly) although you will have to call Vanguard to make the conversion. If y...
by drzzzzz
Thu Apr 01, 2021 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth contributions
Replies: 14
Views: 939

Re: Excess Roth contributions

Quick update - I just got done with my excess Roth contribution snafu. Here’s what I did. This might help folks that are in a similar situation and have similar questions The solution to my excess contributions is two fold Step 1 - Convert the excess Roth into TIRA . Filled out a recharacterization...
by drzzzzz
Wed Mar 24, 2021 3:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard "Important information about your brokerage account"
Replies: 31
Views: 2741

Re: Over the phone Vanguard transaction fees

I think if a fee was going to be charged they would tell you that while on the phone with them about the expense.
by drzzzzz
Thu Mar 18, 2021 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: TT - Getting taxed on my Roth IRA conversion (1099-R, 8606)
Replies: 19
Views: 1924

Re: TT - Getting taxed on my Roth IRA conversion (1099-R, 8606)

A few thoughts, if it is saying your income is too high, are you telling the system that you put into a traditional IRA and are trying to take a deduction for that (which will also depend on whether you have a work retirement plan) or are you telling the system it is a non-deductible contribution? A...
by drzzzzz
Thu Mar 18, 2021 5:56 pm
Forum: Personal Investments
Topic: Vanguard funds question
Replies: 12
Views: 1232

Re: Vanguard funds question

Thanks so much for the info! Okay, it appears it is the admiral that has the lower ER, so here is my question given that info. I have a solo 401K and a traditional IRA with Vanguard. (I opened the IRA first and added the 401K when I became self-employed to contribute more. The IRA is PAS managed an...
by drzzzzz
Thu Mar 18, 2021 4:13 pm
Forum: Personal Investments
Topic: PAS financial plan
Replies: 26
Views: 1861

Re: PAS financial plan

I don't think we have enough information to really help you. Are you only talking about a Roth IRA or do you have other assets as well? PAS uses primarily 4 funds (two of them international stock and international bond) so you need to decide if you are comfortable or want those in your portfolio. Lo...
by drzzzzz
Tue Mar 16, 2021 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Form 6781, Section 1256 Contracts, and Straddles
Replies: 0
Views: 138

Form 6781, Section 1256 Contracts, and Straddles

hi My father bought one Gold Trust SPDR (GLD) during 2020 that didn't expre till January 2021 (and is listed as a section 1256 contract). I see on his brokerage report that this is recorded with an unrealized profit for the year. When looking at reporting for this, it appears that you use form 6781 ...
by drzzzzz
Sun Mar 14, 2021 9:10 am
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 364
Views: 26133

Re: Received 3rd stimulus check 3/12/21

For those who are getting it directly deposited in their bank account sorry to sound stupid, but how are you pulling that off? I work at a non-profit (not a government job) and get my paycheck direct deposited. I got my first stimulus in the form of a debit card and the second in the form of a chec...
by drzzzzz
Sat Mar 13, 2021 10:20 am
Forum: Personal Investments
Topic: Advice only Investment Advisors
Replies: 13
Views: 1416

Re: Advice only Investment Advisors

FYI, Mark Zoril (and colleague Jason Lynch) from PlanVision will be our guests on April 27th (8-10 PM *EST*) for our Tampa Bay Chapter Zoom meeting (along with the South FL and other Chapters). The meeting is NOT intended as an "infomercial" for their service, nor a "deep dive" ...
by drzzzzz
Wed Mar 10, 2021 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: What's It Really Like to Work With Vanguard's Personal Advisory Service?
Replies: 112
Views: 9021

Re: What's It Really Like to Work With Vanguard's Personal Advisory Service?

Unfortunately, my brother who died suddenly and unexpectedly at 56 late last year, did not have a good experience after I referred him to PAS. I referred him because he had very little investing knowledge, was prone to selling with market volatility and had been sold poor commission products in the...
by drzzzzz
Tue Mar 09, 2021 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: What's It Really Like to Work With Vanguard's Personal Advisory Service?
Replies: 112
Views: 9021

Re: What's It Really Like to Work With Vanguard's Personal Advisory Service?

Unfortunately, my brother who died suddenly and unexpectedly at 56 late last year, did not have a good experience after I referred him to PAS. I referred him because he had very little investing knowledge, was prone to selling with market volatility and had been sold poor commission products in the...
by drzzzzz
Sun Mar 07, 2021 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Over contributed to roth for '20 & '21, what now?
Replies: 11
Views: 1209

Re: Over contributed to roth for '20 & '21, what now?

You can fill out the paperwork online, sign it through docusign, and get it processed (I just did that a few days ago). We elected to have it transferred to the external bank account attached to the account and will then just pull the funds back. Vanguard processed it with two ACH transactions - the...
by drzzzzz
Thu Mar 04, 2021 11:16 am
Forum: Personal Investments
Topic: Excess Roth Contribution
Replies: 3
Views: 369

Re: Excess Roth Contribution

Hi Made a Roth contribution in early 2020, but my income for 2020 was higher than the threshold and now it is an excess Roth contribution. I have a traditional IRA with a large balance and so just want to withdraw the 2020 contribution in cash and send it to my banking account which is easy to do o...
by drzzzzz
Wed Mar 03, 2021 6:16 pm
Forum: Personal Investments
Topic: Excess Roth Contribution
Replies: 3
Views: 369

Excess Roth Contribution

Hi Made a Roth contribution in early 2020, but my income for 2020 was higher than the threshold and now it is an excess Roth contribution. I have a traditional IRA with a large balance and so just want to withdraw the 2020 contribution in cash and send it to my banking account which is easy to do on...
by drzzzzz
Mon Mar 01, 2021 11:15 pm
Forum: Personal Investments
Topic: Moving Roth IRA from TIAA to Fidelity: how to? should I?
Replies: 15
Views: 1157

Re: Moving Roth IRA from TIAA to Fidelity: how to? should I?

You can do this by going onto the Fidelity web-site and in the search bar (which is at the right top on my screen) type in the word transfer and look for the link that says transfer your assets-investments to Fidelity - you just follow the prompts and it is very easy to do. This link might work as w...
by drzzzzz
Tue Feb 23, 2021 7:56 pm
Forum: Personal Investments
Topic: CORRECTED 1099 poll
Replies: 17
Views: 916

Re: CORRECTED 1099 poll

I am awaiting a corrected consolidated 1099 so have been researching this and I think the IRS requires that it be sent out by March 31, if not there are possible financial penalties, but they don't seem very onerous.
by drzzzzz
Tue Feb 23, 2021 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: CP214 5500-EZ Notice
Replies: 10
Views: 615

Re: CP214 5500-EZ Notice

For follow-up - I called the IRS number as someone on here suggested. Wait time was only 30 minutes, agent was very nice, He said the account was closed in 2011 and he had no idea why I was getting the notices. He gave me a fax number to send a letter to them telling them to stop sending me the CP21...
by drzzzzz
Sun Feb 21, 2021 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: How I use I-ORP, and who shouldn't
Replies: 203
Views: 30283

Re: How I use I-ORP, and who shouldn't

I have used i-orp and continue to play with it to see how different variables impact on its outcomes. I do find it aggressively often recommends Roth conversions (something that I am very interested in), but want to make sure the other parameters that I am inputting are not causing it to make that ...
by drzzzzz
Sun Feb 21, 2021 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: How I use I-ORP, and who shouldn't
Replies: 203
Views: 30283

Re: How I use I-ORP, and who shouldn't

I have used i-orp and continue to play with it to see how different variables impact on its outcomes. I do find it aggressively often recommends Roth conversions (something that I am very interested in), but want to make sure the other parameters that I am inputting are not causing it to make that r...
by drzzzzz
Wed Feb 17, 2021 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Renew Term Insurance at age 92 or Stop
Replies: 8
Views: 764

Renew Term Insurance at age 92 or Stop

Need some opinions about whether my elderly father should renew his term life insurance at age 92. Without telling me, 5 years ago he renewed an insurance policy with his logic being that he was going to die at some point (everyone in his family had died in their 50s) and so he thought it would be a...
by drzzzzz
Tue Feb 16, 2021 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: 1099G
Replies: 11
Views: 800

Re: 1099G

If you took the itemized deduction last year (year for which your return of state tax represents) and did not claim state taxes on your return, then you do not need to report a state tax refund as income. Slightly off topic, but maybe someone knows - if you itemized in 2019 because you were above t...
by drzzzzz
Tue Feb 16, 2021 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Aide
Replies: 13
Views: 713

Re: Tax Aide

We aren't opening at this time since none of the facilities that we use are open - also no scanning capability.
by drzzzzz
Fri Feb 12, 2021 8:33 pm
Forum: Personal Investments
Topic: Easiest way to fund a Vanguard Roth for an adult child?
Replies: 24
Views: 1575

Re: Easiest way to fund a Vanguard Roth for an adult child?

If she has a brokerage account at Vanguard what I have done with my nephew is to transfer or gift money from my brokerage account at Vanguard to my nephew's Vanguard brokerage account (Vanguard can do it for you on the phone). Your daughter would then need to move the funds from her brokerage accoun...
by drzzzzz
Wed Feb 10, 2021 9:37 pm
Forum: Personal Investments
Topic: Are Bogleheads still investing at Vanguard?
Replies: 132
Views: 11603

Re: Are Bogleheads still investing at Vanguard?

Everything at Vanguard for 20 years and counting now. Except for our DAF which is at Fidelity, because they have a better product (in my opinion). Any problems with funding the Fidelity DAF with Vanguard funds? Is it a hassle? No problem at all - Fidelity pulled the Vanguard mutual funds into the D...
by drzzzzz
Wed Feb 10, 2021 9:12 pm
Forum: Personal Investments
Topic: What to do about unknown stock cost basis?
Replies: 11
Views: 1165

Re: What do do about unknown stock cost basis?

Or if you like the stock hold it till it ends up in your estate and your heirs get it at a stepped up basis
by drzzzzz
Tue Feb 09, 2021 6:25 pm
Forum: Investing - Theory, News & General
Topic: Rollover IRA to Roth Conversion - Calculators say it's not worth it
Replies: 9
Views: 964

Re: Rollover IRA to Roth Conversion - Calculators say it's not worth it

We have ben converting IRAs to Roth accounts and I think the biggest issue for us is what was mentioned previously. At some point when one person dies, tax rates really increase, yet other than social security and depening on who inherits the traditional IRA, you still need to take RMD(s) and your t...
by drzzzzz
Tue Feb 09, 2021 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Pennsylvania State Taxes on Mega Backdoor Roth 401(k)
Replies: 4
Views: 445

Re: Pennsylvania State Taxes on Mega Backdoor Roth 401(k)

Ah I did not know that about PA retirement distributions. That explains why the PA taxable is hardcoded to 0. Thank you very much drzzzzz! I am not an accountant so others might want to chip in, but have done these returns for myself and family before. It's a good state for receiving retiree distri...
by drzzzzz
Tue Feb 09, 2021 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Pennsylvania State Taxes on Mega Backdoor Roth 401(k)
Replies: 4
Views: 445

Re: Pennsylvania State Taxes on Mega Backdoor Roth 401(k)

In Pennsylvania you don't pay taxes on retirement account distributions or conversions since the funds were taxed when they went in so it sounds like Turbotax (which I don't use) is doing it correctly. There should be no tax on the gain (assuming this is not an early distribution which might through...
by drzzzzz
Tue Feb 09, 2021 11:23 am
Forum: Personal Investments
Topic: Are Bogleheads still investing at Vanguard?
Replies: 132
Views: 11603

Re: Are Bogleheads still investing at Vanguard?

Vanguard has always been difficult for some things and are now just disappointing in reaching them and their level of service. Been with them for 40 plus years and have changed my mutual fund holdings (where I can) to ETF and have transferred those assets to Fidelity which is so much better in respo...
by drzzzzz
Thu Feb 04, 2021 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: What should I do if I wrongly claimed the credit for the covid relief bill?
Replies: 4
Views: 719

Re: What should I do if I wrongly claimed the credit for the covid relief bill?

I would try to change it prior to submitting, however, what we have been told in training to do tax volunteer tax returns is that the IRS will compare their records against what the individual has indicated on their return regarding economic stimulus payments and change the epected refund based upon...
by drzzzzz
Tue Feb 02, 2021 12:26 pm
Forum: Personal Investments
Topic: Vanguard Portfolio Watch - Stock Analysis
Replies: 14
Views: 1104

Re: Vanguard Portfolio Watch - Stock Analysis

Slightly different question about portfolio watch - if you enter outside stocks or mutual funds does portfolio include those in the analysis and if included, are the breakdowns accurate? I asked Fidelity about their portfolio analysis and they don't think it includes outside investments if you list ...
by drzzzzz
Mon Feb 01, 2021 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Mobile Check Deposits
Replies: 3
Views: 463

Re: Vanguard Mobile Check Deposits

I have done all that the app sometimes says doesnt look like a personal check but corporate when it is hand written and clearly on a personal account. Other times after snapping the pic it says that it should be on a dark background (have used black and blue backgrounds as well as white) and also sa...
by drzzzzz
Sun Jan 31, 2021 7:40 pm
Forum: Personal Investments
Topic: Stick with Wellington, or?
Replies: 6
Views: 1419

Re: Stick with Wellington, or?

I think Wellington is fine (has been succesful over the years) especially since it is in a tax deferred acount and Wellington generates a lot of capital gains each year - however, not sure Wellington or any other fund will necessarily allow you to withdraw 5% a year (although we don't know for how l...
by drzzzzz
Sun Jan 31, 2021 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh Fidelity! May have to leave!
Replies: 92
Views: 8383

Re: Ugh Fidelity! May have to leave!

BTW, my biggest beef with Fidelity is they will not let me change the cost basis of shares I transfer from my t-IRA to Roth. I had a long series of messages back and forth and phone calls, but could not get them to budge. My strong feeling is that when I transfer shares to Roth, the cost basis shou...
by drzzzzz
Sun Jan 31, 2021 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Mobile Check Deposits
Replies: 3
Views: 463

Vanguard Mobile Check Deposits

Have others experienced this problem? I have tried to deposit a few checks using Vanguard's mobile check deposit on their phone app a few times over the last two months. Sometimes the checks are captured fine, other times the app says the check doesnt look like a personal check and the app doesnt pr...
by drzzzzz
Sat Jan 30, 2021 5:34 pm
Forum: Personal Investments
Topic: Confused by Vanguard Tax Document
Replies: 7
Views: 926

Re: Confused by Vanguard Tax Document

Check to see if some of the transactions include non-covered shares and weren't reported by Vanguard to the IRS. I noticed that the total cost basis in the summary at the top of the document didn't include the cost basis total from the last of the three separate 1099-B sections (although the procee...
by drzzzzz
Sat Jan 30, 2021 12:57 pm
Forum: Personal Investments
Topic: Confused by Vanguard Tax Document
Replies: 7
Views: 926

Re: Confused by Vanguard Tax Document

Check to see if some of the transactions include non-covered shares and weren't reported by Vanguard to the IRS. For example, our 1099 consolidated shows a huge number for proceeds, a small cost basis with an asterisk and if you look at the details almost all the transactions have losses (we were do...
by drzzzzz
Sat Jan 30, 2021 12:22 pm
Forum: Personal Investments
Topic: I think I made a mistake.. "Fidelity® Personalized Planning & Advice"
Replies: 26
Views: 2684

Re: I think I made a mistake.. "Fidelity® Personalized Planning & Advice"

My experience with 401K and 403B plans (at Vanguard, Fidelity, and TIAA) has been that they all offer personalized planning and advice - almost seems it is part of the agreement with the employer and the fiduciary within these plans. It usually has no additional expense to you (however, you might wa...
by drzzzzz
Thu Jan 28, 2021 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Taxable acct transfer from Vanguard to Fidelity - cost basis info transferred?
Replies: 5
Views: 480

Re: Taxable acct transfer from Vanguard to Fidelity - cost basis info transferred?

I always take a screenshot of the cost basis prior to the transfer and then compare it after at the new firm - which might take a few days. And we have done transfers from Vanguard to Fidelity without any issues - we also always start the transfer at the firm who is receiving the funds since they ha...
by drzzzzz
Thu Jan 28, 2021 12:16 pm
Forum: Personal Investments
Topic: For Fee Planner vs. Flagship
Replies: 36
Views: 2460

Re: For Fee Planner vs. Flagship

We have used Allan Roth at https://daretobedull.com/ who is a certified financial planner and charges an hourly fee. He uses Vanguard funds and follows the bogleheads principles. We were pleased with his evaluation of our portfolio and his recommendations (even if we didn't follow all of them, whic...
by drzzzzz
Thu Jan 28, 2021 10:20 am
Forum: Personal Investments
Topic: For Fee Planner vs. Flagship
Replies: 36
Views: 2460

Re: For Fee Planner vs. Flagship

We have used Allan Roth at https://daretobedull.com/ who is a certified financial planner and charges an hourly fee. He uses Vanguard funds and follows the bogleheads principles. We were pleased with his evaluation of our portfolio and his recommendations (even if we didn't follow all of them, which...
by drzzzzz
Thu Jan 21, 2021 9:23 pm
Forum: Personal Investments
Topic: UHNW Investors using Vanguard PAS?
Replies: 34
Views: 2599

Re: UHNW Investors using Vanguard PAS?

I would strongly advise against Vanguard PAS for your situation. It will be cookie cutter, and my experience is that the service is lacking. We just pulled our Flagship select accounts that we used for admiral funds after numerous service issues. Frankly, I think they've grown faster than their sta...
by drzzzzz
Thu Jan 21, 2021 8:48 pm
Forum: Personal Investments
Topic: UHNW Investors using Vanguard PAS?
Replies: 34
Views: 2599

Re: UHNW Investors using Vanguard PAS?

I would strongly advise against Vanguard PAS for your situation. It will be cookie cutter, and my experience is that the service is lacking. We just pulled our Flagship select accounts that we used for admiral funds after numerous service issues. Frankly, I think they've grown faster than their sta...
by drzzzzz
Sat Jan 16, 2021 11:26 pm
Forum: Investing - Theory, News & General
Topic: Exactly how do I convert mutual fund shares to ETF?
Replies: 23
Views: 1538

Re: Exactly how do I convert mutual fund shares to ETF?

I would recommend taking cost basis screenshots prior to converting.
by drzzzzz
Fri Jan 15, 2021 11:51 am
Forum: Personal Investments
Topic: Vanguard Healthcare Fund- Anyone?
Replies: 6
Views: 421

Re: Vanguard Healthcare Fund- Anyone?

If you use it, do not use it in a taxable account. It is the most tax inefficient fund I have ever held. Will second this - love the fund, but make sure it is in a tax preferred account (IRA, roth, etc) - I was so irritated by the huge yearly distributions that the fund generated in our taxable acc...
by drzzzzz
Fri Jan 15, 2021 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10591

Re: Options for healthcare during FIRE (but before 65)?

This is likeliest the biggest expense that people don't pay attention to when working since their employers are paying for it and they have no clue how expensive it really is, so are suprised when looking into getting insurance after leaving a job. I would just remind folks that unless you are a ris...
by drzzzzz
Wed Jan 13, 2021 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: CP214 5500-EZ Notice
Replies: 10
Views: 615

Re: CP214 5500-EZ Notice

Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either. The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The lette...
by drzzzzz
Wed Jan 13, 2021 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: CP214 5500-EZ Notice
Replies: 10
Views: 615

Re: CP214 5500-EZ Notice

Is this regarding your amended 2014 tax year? If so Wow! or is the IRS assuming the plan is in effect for 2020? I never knew the IRS sent these out either. The amended was resolved in 2015 with their follow-up letter, saying thanks, no need to do anything, and we hope we didn't upset you. The lette...