Search found 1146 matches

by thx1138
Sun Mar 21, 2021 7:35 am
Forum: Personal Finance (Not Investing)
Topic: The wash sale rules can't possibly be THIS antagonistic
Replies: 140
Views: 10515

Re: The wash sale rules can't possibly be THIS antagonistic

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...
by thx1138
Wed Mar 10, 2021 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: An incredible New error TurboTax for the back door Roth.
Replies: 20
Views: 2848

Re: An incredible New error TurboTax for the back door Roth.

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. ...
by thx1138
Tue Mar 02, 2021 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Fixing Backdoor Roth Conversion not performed in the same year
Replies: 16
Views: 1004

Re: Fixing Backdoor Roth Conversion not performed in the same year

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...
by thx1138
Thu Feb 25, 2021 6:42 am
Forum: Personal Finance (Not Investing)
Topic: I think the calculation for AMT in Turbotax for 2020 is wrong...
Replies: 5
Views: 627

Re: I think the calculation for AMT in Turbotax for 2020 is wrong...

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...
by thx1138
Sat Feb 20, 2021 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Fixing Backdoor Roth Conversion not performed in the same year
Replies: 16
Views: 1004

Re: Fixing Backdoor Roth Conversion not performed in the same year

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...
by thx1138
Fri Feb 19, 2021 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: E-filing form 1116 [FreeTaxUSA]
Replies: 122
Views: 9866

Re: Can't E-file form 1116

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...
by thx1138
Fri Feb 19, 2021 10:38 am
Forum: Investing - Theory, News & General
Topic: So what's the real electricity cost of Bitcoin?
Replies: 25
Views: 2360

Re: So what's the real electricity cost of Bitcoin?

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...
by thx1138
Fri Feb 19, 2021 6:14 am
Forum: Investing - Theory, News & General
Topic: So what's the real electricity cost of Bitcoin?
Replies: 25
Views: 2360

Re: So what's the real electricity cost of Bitcoin?

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...
by thx1138
Thu Feb 18, 2021 9:52 pm
Forum: Investing - Theory, News & General
Topic: So what's the real electricity cost of Bitcoin?
Replies: 25
Views: 2360

Re: So what's the real electricity cost of Bitcoin?

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...
by thx1138
Wed Feb 17, 2021 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: E-filing form 1116 [FreeTaxUSA]
Replies: 122
Views: 9866

Re: Can't E-file form 1116

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...
by thx1138
Tue Feb 16, 2021 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Consolidated 1099 Div From Vanguard Help
Replies: 6
Views: 550

Re: Consolidated 1099 Div From Vanguard Help

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 ...
by thx1138
Sun Feb 14, 2021 9:00 am
Forum: Personal Finance (Not Investing)
Topic: COVID stimulus payments and tax returns . . .
Replies: 12
Views: 1433

Re: COVID stimulus payments and tax returns . . .

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...
by thx1138
Mon Feb 08, 2021 6:23 pm
Forum: Personal Investments
Topic: How do you stay the course?
Replies: 79
Views: 6441

Re: How do you stay the course?

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...
by thx1138
Sun Feb 07, 2021 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for tax advice to mitigate huge short term capital gains
Replies: 35
Views: 2898

Re: Looking for tax advice to mitigate huge short term capitol gains

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...
by thx1138
Tue Feb 02, 2021 12:08 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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...
by thx1138
Tue Feb 02, 2021 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone still file fed taxes by mail? Why?
Replies: 104
Views: 6669

Re: Does anyone still file fed taxes by mail? Why?

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...
by thx1138
Mon Feb 01, 2021 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone still file fed taxes by mail? Why?
Replies: 104
Views: 6669

Re: Does anyone still file fed taxes by mail? Why?

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...
by thx1138
Mon Feb 01, 2021 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Is it me or a lot of 2020 tax forms late this year?
Replies: 45
Views: 4170

Re: Is it me or a lot of 2020 tax forms late this year?

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 ...
by thx1138
Mon Feb 01, 2021 12:33 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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.
by thx1138
Mon Feb 01, 2021 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Is it me or a lot of 2020 tax forms late this year?
Replies: 45
Views: 4170

Re: Is it me or a lot of 2020 tax forms late this year?

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.
by thx1138
Mon Feb 01, 2021 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Home buying marathon
Replies: 43
Views: 4786

Re: Home buying marathon

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...
by thx1138
Sun Jan 31, 2021 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Home buying marathon
Replies: 43
Views: 4786

Re: Home buying marathon

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, ...
by thx1138
Sun Jan 31, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Quality Of Life Change After Transitioning To Part Time?
Replies: 28
Views: 1699

Re: Quality Of Life Change After Transitioning To Part Time?

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...
by thx1138
Sun Jan 31, 2021 9:04 am
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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 ...
by thx1138
Fri Jan 29, 2021 8:47 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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...
by thx1138
Fri Jan 29, 2021 8:15 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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...
by thx1138
Fri Jan 29, 2021 7:43 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227959

Re: [GameStop GME trading mega-thread]

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...
by thx1138
Fri Jan 29, 2021 2:16 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Fri Jan 29, 2021 1:57 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Fri Jan 29, 2021 12:30 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Fri Jan 29, 2021 1:20 am
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Fri Jan 29, 2021 12:10 am
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Tue Jun 23, 2020 9:56 pm
Forum: Investing - Theory, News & General
Topic: Malkiel weighs in on passive investing and alternatives to the 60/40...
Replies: 39
Views: 4955

Re: Malkiel weighs in on passive investing and alternatives to the 60/40...

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...
by thx1138
Sat Jun 20, 2020 11:50 am
Forum: Investing - Theory, News & General
Topic: Wirecard scandal / Germany's Enron
Replies: 21
Views: 2747

Re: Wirecard scandal / Germany's Enron

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...
by thx1138
Fri Jun 19, 2020 10:13 pm
Forum: Investing - Theory, News & General
Topic: Wirecard scandal / Germany's Enron
Replies: 21
Views: 2747

Re: Wirecard scandal / Germany's Enron

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”.
by thx1138
Tue Jun 16, 2020 7:35 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 22921
Views: 3006962

Re: U.S. stocks in free fall

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 &...
by thx1138
Mon Jun 15, 2020 6:43 pm
Forum: Investing - Theory, News & General
Topic: Hertz (bankrupt) may issue new stock
Replies: 80
Views: 7457

Re: Hertz (bankrupt) may issue new stock

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...
by thx1138
Sun Jun 14, 2020 8:52 pm
Forum: Investing - Theory, News & General
Topic: The Worst Worst Case
Replies: 4
Views: 1869

Re: The Worst Worst Case

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...
by thx1138
Sun Jun 14, 2020 12:43 pm
Forum: Investing - Theory, News & General
Topic: Forbes: Do Day Traders Drive The Market Now?
Replies: 13
Views: 1059

Re: Forbes: Do Day Traders Drive The Market Now?

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...
by thx1138
Sun Jun 14, 2020 11:09 am
Forum: Personal Consumer Issues
Topic: Slide-in pickup campers
Replies: 33
Views: 2362

Re: Slide-in pickup campers

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...
by thx1138
Sat Jun 13, 2020 2:32 pm
Forum: Investing - Theory, News & General
Topic: Hertz (bankrupt) may issue new stock
Replies: 80
Views: 7457

Re: Hertz (bankrupt) may issue new stock

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 ...
by thx1138
Sat Jun 13, 2020 9:29 am
Forum: Investing - Theory, News & General
Topic: The “Abandon Bonds” strategy
Replies: 259
Views: 30538

Re: The “Abandon Bonds” strategy

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...
by thx1138
Fri Jun 12, 2020 7:32 am
Forum: Personal Finance (Not Investing)
Topic: So Are Home Renovations Worth It (Financially) Or Not?
Replies: 105
Views: 8112

Re: So Are Home Renovations Worth It (Financially) Or Not?

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...
by thx1138
Thu Jun 11, 2020 7:06 am
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1439
Views: 133891

Re: Well, I am market timing due to coronavirus... Wish me luck.

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...
by thx1138
Wed Jun 10, 2020 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Perpetual Withdrawal Rate
Replies: 29
Views: 7457

Re: Perpetual Withdrawal Rate

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...
by thx1138
Thu May 28, 2020 8:04 pm
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 213
Views: 23753

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

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...
by thx1138
Thu May 28, 2020 5:24 pm
Forum: Investing - Theory, News & General
Topic: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?
Replies: 213
Views: 23753

Re: Sitting on a bunch of cash; what to do with it if I believe we're headed for SPX 1800 and protracted recession?

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...
by thx1138
Wed May 27, 2020 8:27 am
Forum: Investing - Theory, News & General
Topic: Bogleheads: What is your largest single stock holding? (if any)
Replies: 79
Views: 4483

Re: Bogleheads: What is your largest single stock holding? (if any)

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...
by thx1138
Mon May 25, 2020 7:40 am
Forum: Investing - Theory, News & General
Topic: "The stocks are up but the economy's down"--good "Indicator" podcast episode
Replies: 20
Views: 2962

Re: "The stocks are up but the economy's down"--good "Indicator" podcast episode

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...
by thx1138
Mon May 11, 2020 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for Layoff: Communicate my status?
Replies: 22
Views: 2501

Re: Planning for Layoff: Communicate my status?

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...