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thx1138

They are that antagonistic: Does the Rule Apply to IRAs? In 2008, the IRS issued "Revenue Ruling 2008-5," in which it addressed the question of whether the wash-sale rules apply to IRAs. In the ruling, the IRS explained that when shares are sold in a non-retirement account and substantiall...

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I think this has been a long standing issue of confusion. If there is zero basis in the Traditional IRA at the end of the year as a result of the a contribution then conversion TT does not produce a Form 8606. I believe some people feel it is necessary but TT does not. No that’s not the case here. ...

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As cas said first by whatever means possible see if you can track down what your statements show actually happened just in case M1 customer support is in error about what happened. Right now it sounds as if they are saying all that ever happened was that you contributed to a Roth IRA and nothing fur...

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I do have a huge amount of capital gains this year over the W2 income which I thought were always a trigger for the AMT. The primary mechanism by which large capital gains can trigger AMT is if they are so large that they put your total income above the AMT exemption phase out threshold. In that ca...

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Putting aside the conversion step for a moment and looking back at the initial recharacterization step, since OP seems sure that the proper "recharacterization" word was used there... Shouldn't a 1099-R with Box 7 Code R have been issued in early 2021 for a recharacterization done in 2020...

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My money is on FreeTaxUSA being correct and compliant. Hmmm... And yet if you Google this more than one person on more than one website is reporting this problem with FreeTaxUSA and yet not a peep anywhere from anyplace about this being an issue with TurboTax despite its vastly larger user base. It...

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Here in California they are talking about banning new natural gas homes, so home heating would have to be electric. That means running power through otherwise useless resistors. You use an efficient heat pump, not direct electric heating of course. California is mostly climate zone 3 where heat pum...

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Here in California they are talking about banning new natural gas homes, so home heating would have to be electric. That means running power through otherwise useless resistors. You use an efficient heat pump, not direct electric heating of course. California is mostly climate zone 3 where heat pum...

thx1138

This from Nov 2020: https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/ Says 741 kWh for a single Bitcoin transaction. Average monthly household consumption is 900 kWh so that jives with the article. Also the above estimates 149 kWh for 100,000 Visa tra...

thx1138

FWIW the IRS Free Fillable Forms online E-File application does in fact support filling an 1116 with two limitations: Part II column (l) will not accept "909 TAXES" or "1099 TAXES" in lieu of a date. Additionally, you cannot write in the words "DIVIDENDS" and "WAGE...

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Some details from Vanguard on reporting for covered and uncovered shares: https://investor.vanguard.com/taxes/cost-basis/covered-noncovered Basically if you have older shares they are not responsible for reporting their basis to the IRS but you will report the basis yourself on your return and thus ...

thx1138

Why if you received it in 2021 would you report on your 2020. Nitpicking, but stock dividends are a good example of income that may need to be reported in the tax year prior to their actual payment. The date of record determines what year a dividend is taxable in while actual payment of the dividen...

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Pick random dates from the past and read the financial news of that time. Absorb the doom and gloom as well as the hand wringing about overvalued stocks or unreasonably low interest rates. Then go look at what actually happened in the market after those stories were written. For more recent times yo...

thx1138

Congratulations on your windfall! Others more knowledgeable than me will undoubtedly be along in good time to help, but until then... You really can’t put the short term capital gain genie back in the bottle. You can’t avoid the taxes, at best you might defer a small amount to a later year when your...

thx1138

amazing that people feel they need to learn "the hard way" when people are here to show you the way...for free. You must never have parented a teenager :wink: I keep chuckling at myself when I occasionally look at the GME quotes because I keep getting confused by the share price and the s...

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Why did I do this? I really hate giving out information about my accounts if I can avoid it. Filing by mail I can just put a check in the envelope and move on. E-File someone needs a routing number and it often needs to be entered in a 3rd party's website, which I don't like. You can e-file the ret...

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That 1% error is amazingly high. You pay for tax software and still get errors at that rate? It’s software, not magic. If you enter a number from a paper 1099 wrong it can’t check that. If you answer a question wrong how is it going to check that? The 1% isn’t the software making an error, it is th...

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IRS delayed the entire tax filing season until 2/13 because of the very late COVID release bill in December. So even if you got forms by 2/1 you wouldn’t be able to file. Presumably the deadlines for providing forms moved as well. I don't think the dates for forms has changed. Yep, I think you are ...

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Pu239 wrote: ↑Mon Feb 01, 2021 12:19 pm
jhawktx wrote: ↑Mon Feb 01, 2021 10:03 am Things are going backwards today on the way to the moon.

I'm not sure if I'm watching Apollo 11 or Apollo 13. Either way, it's gripping.

WSB thought they had the hedge funds riding on Challenger. WSB is likely to soon discover that it’s actually they who are riding on Columbia.

thx1138

IRS delayed the entire tax filing season until 2/13 because of the very late COVID release bill in December. So even if you got forms by 2/1 you wouldn’t be able to file. Presumably the deadlines for providing forms moved as well.

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I would be wary of betting that VHCOL areas are going to hold their value; especially with layoffs, corporate relocations, and increased use of work from home. I personally don't treat buying a house as an investment. We prefer to spend a bit more on a SFH that appreciates better. These two stateme...

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This is an extremely weird time in the housing market. The high prices are not driven by speculators as in some past bubbles but the pandemic has created much more demand than supply especially for SFH. That will of course adjust over time but is that a year? Two years? Transaction costs on houses, ...

thx1138

I transitioned to a reduced work schedule awhile back and I absolutely love it. But it did take a little figuring out and as usual what you expect in advance wasn't exactly what occurred. For me I went to 20 hrs initially as we were temporarily relocating for a year and I wanted to take advantage of...

thx1138

So yeah, I bought some GME because it represents a giant middle finger to all the powers-that-be that have financially and emotionally exhausted my generation over the last 10-20 years. I will hold it until the end of this. 💎 If you “hold until the end of this” all you will be doing is giving your ...

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Interesting take. Ironically perhaps, a lot of the people most outraged at Robinhood have expressed the opinion that "I'm an adult, and you have no right to restrict what risk I choose to assume with my money". So they'd probably take issue with your point! Yep, I’m sure you are right. Wh...

thx1138

Interesting take. Ironically perhaps, a lot of the people most outraged at Robinhood have expressed the opinion that "I'm an adult, and you have no right to restrict what risk I choose to assume with my money". So they'd probably take issue with your point! Yep, I’m sure you are right. Wh...

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Robinhood does deserve quite a bit of the wrath targeted at it, but not because of the trading restrictions. It is such a predictable outcome - the wrath directed at Robinhood. If you provide access to complicated and downright dangerous financial instruments via an app designed to mimic a video ga...

thx1138

Even though nigel_ht is now saying people should have seen the obvious and gone defensive, there wasn't a single word about doing that in postings made in January and February, until February 26th. Yes, and there is this amusing response from one of your exchanges back in April: Lol. Right. Let's c...

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Even though nigel_ht is now saying people should have seen the obvious and gone defensive, there wasn't a single word about doing that in postings made in January and February, until February 26th. Yes, and there is this amusing response from one of your exchanges back in April: By the way, this is...

thx1138

Even though nigel_ht is now saying people should have seen the obvious and gone defensive, there wasn't a single word about doing that in postings made in January and February, until February 26th. Yes, and there is this amusing response from one of your exchanges back in April: By the way, this is...

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There is no "in retrospect"...it was absolutely obvious at the time the PRC made those announcements on Jan 23 that there would be significant global economic and health impacts because nobody craters their economy on a "well, maybe covid MIGHT be bad..." assessment. The part yo...

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There is no "in retrospect"...it was absolutely obvious at the time the PRC made those announcements on Jan 23 that there would be significant global economic and health impacts because nobody craters their economy on a "well, maybe covid MIGHT be bad..." assessment. The part yo...

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Seems like ridiculous yield chasing advice, but what do I know really? Still. He’s concerned about inflation. If only there were some safe bond like instrument that was indexed for inflation... No, nothing like that exists I guess so off to any of the standard yield chasing bond substitutes that hav...

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Well of course, VGTSX is the largest international index fund in the world. (And the 11th largest mutual fund overall). If they didn’t own that much they wouldn’t be an “index fund”. So that implies they own 1.5% of all ex-US, right? Roughly speaking yes. For instance they hold: 1.5% of SIE.DE (Sie...

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Quercus Palustris wrote: ↑Fri Jun 19, 2020 4:24 pm 2nd largest mutual fund holder of WDI.DE is Vanguard Total International (VGTSX), at 1.51%

Well of course, VGTSX is the largest international index fund in the world. (And the 11th largest mutual fund overall). If they didn’t own that much they wouldn’t be an “index fund”.

thx1138

The commonly accepted definition of a bull market is when stock prices rise by 20% after two declines of 20% each. We did not have the second downfall yet. Thus - by definition - we are not yet in a new bull market. Just to be correct definitin-wise. We are still in a bear market or let's call it &...

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Why, oh, why are people piling into Hertz stock instead of my favorite international stock ETFs like MOTI, DGRE, DFJ, DGS, IQIN, GWX, and FNDC? MOTI and DGRE specialize in high quality stocks. The others are diversified plain vanilla stock funds. Hertz may go out of business. Developed markets as a...

thx1138

Does Vanguard? Look at the prospectus for the particular fund you are interested in to find out. What safeguards are in place for our investments if something like this article describes affects Vanguard and other companies? It wouldn't affect Vanguard the company at all since Vanguard isn't a bank...

thx1138

The article contained no actual information to answer the question that I could find. And that title has nothing to do with anything in the article, though that isn't unusual as typically an editor trying to attract clicks makes the title and not the author.

Waste of bandwidth...

thx1138

Sandtrap covered nearly every point I know about slide-ins already. I would add though to consider carefully whether a slide-in is really what you want. Once you eliminate pop-ups you are now relegated to having a large, unwieldy vehicle that is mostly restricted to well paved or graded roads with a...

thx1138

because the value of their collateral (rental cars) has increased Thanks for the explanation, better than anything the media has put out. But I don't understand how there could reasonably be a scenario where the value of a rental fleet increases during the bankruptcy period - don't cars depreciate ...

thx1138

Individual investors do have access to FDIC insured accounts and certificates that often provide higher yields with zero duration than bonds available to institutional investors with much longer durations. It is certainly a viable alternative at times and one pretty common with Bogleheads. Similarly...

thx1138

If I don't use my money to improve my family's quality of life by living in an updated, beautiful home; then what's the point of money? You could have used the money to spend more time with them instead? But indeed some families’ quality of life is improved by spending less time with certain family...

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Ah, semi-glad this thread bumped again. Was going to post a few weeks ago with a semi-mea-culpa but didn't want to bump it just for that. On the very first page of this thread I tell the OP to ignore the news and stay the course. I also do wish them good luck and suggest while I didn't agree with th...

thx1138

Oh and this gets close to your answer without having to run the google sheet yourself: https://earlyretirementnowdotcom.files.wordpress.com/2016/11/swr-part1-table1.png Figure came from: https://earlyretirementnow.com/2016/12/07/the-ultimate-guide-to-safe-withdrawal-rates-part-1-intro/ I realize th...

thx1138

Do you hope your house burns down because you “bet” on it by purchasing insurance? Insurance in the stock market is having some of your money in bonds, all the time, just in case a crash happens. Going mostly cash because you think a crash is going to happen soon isn't insurance, that's a bet. If o...

thx1138

Care to point out how many lows have been retraced after coming back this much? Let me save you some time: exactly zero* . *Note: Some claim 2007 retraced the 2000 lows, but this is really reaching as it was clearly a fresh bull (7 year gap). If you are going to sit on the sidelines for almost a de...

thx1138

1. The company I work for 2. About 15% 3. I have no choice in the matter It’s an S-Corp and an ESOP which has done very well in share value growth as well as 8-10% dividends each year for the past two decades. So I certainly can’t complain about the results, but I’d never choose to have this much in...

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Dog analogy is a great one! That said in this case the point is made near the end of the interview: BROWN: The worse outcome is that there are people who lose their jobs right now that never get those jobs back and either can remake themselves doing something else or can't. And the long-term ramific...

thx1138

I've also heard anecdotally about people being laid off, and then re-joining the same company as a vendor soon afterwards. Wow, that's terrible. I would advise not do to that, downgrading to non-FTE status is a huge risk. This is my opinion, but I'd rather have a gap in my employment during underst...

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