Search found 269 matches

by cricket49
Wed Apr 14, 2021 5:18 am
Forum: Personal Finance (Not Investing)
Topic: I mailed in my taxes not knowing about the big backlog... Is there anything I can do to cancel that and e-file instead?
Replies: 15
Views: 2026

Re: I mailed in my taxes not knowing about the big backlog... Is there anything I can do to cancel that and e-file inste

I'm still waiting for the IRS to process my 2019 return that was mailed in Feb. 2020. They received it because the check enclosed in the envelope was cashed within a week.

I was told by an IRS rep not to refile as that would create more problems.
by cricket49
Fri Apr 09, 2021 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Excess HSA contributions by $0.16
Replies: 6
Views: 601

Re: Excess HSA contributions by $0.16

Mine was over by $1.00 due to rounding. Since I owed the IRS 0 dollars I contacted the HSA administrator and filled out the proper document to remove that amount.
by cricket49
Fri Apr 09, 2021 8:34 am
Forum: Personal Finance (Not Investing)
Topic: IRS 2019 tax return not yet processed - Weird??
Replies: 13
Views: 852

Re: IRS 2019 tax return not yet processed - Weird??

I used the IRS web site https://www.irs.gov/individuals/get-transcript to look at my 2019 tax return. Why do you even want to look at a filed return? Donā€™t you save a paper or digital copy? You know they received it since they cashed your check. Maybe because the 1st IRS rep told me "No our re...
by cricket49
Mon Apr 05, 2021 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: How does ACA and ROTH conversions work?
Replies: 10
Views: 1182

Re: How does ACA and ROTH conversions work?

After more research I will probably convert more than 150,000 to whittle down the TIRA dollars this year and may do it again
next year if tax brackets stay the same. We also need to keep the MAGI lower than 176,000 due to the IRMAA.

Thanks for all the help!
by cricket49
Sun Apr 04, 2021 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: How does ACA and ROTH conversions work?
Replies: 10
Views: 1182

Re: How does ACA and ROTH conversions work?

Soon2BXProgrammer You have given me something to think about and I will play around with our 2021 projected taxes thru tax software. If I transfer 100,000 our AGI should be about 70,000 and taxes should be around 8500 plus 4800 for the ACA. This keeps us in the 12% tax rate which might be easier to...
by cricket49
Sun Apr 04, 2021 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How does ACA and ROTH conversions work?
Replies: 10
Views: 1182

Re: How does ACA and ROTH conversions work?

Soon2BXProgrammer You have given me something to think about and I will play around with our 2021 projected taxes thru tax software. If I transfer 100,000 our AGI should be about 70,000 and taxes should be around 8500 plus 4800 for the ACA. This keeps us in the 12% tax rate which might be easier to ...
by cricket49
Sun Apr 04, 2021 8:53 am
Forum: Personal Finance (Not Investing)
Topic: How does ACA and ROTH conversions work?
Replies: 10
Views: 1182

Re: How does ACA and ROTH conversions work?

We have been retired for over 4 years and basically living on interest, dividends with the majority in cash. This has enabled us to receive a subsidy through the ACA. However, with the changes and premium reductions in the ACA it seems to be a good time to convert a large amount of money from an IR...
by cricket49
Sun Apr 04, 2021 8:35 am
Forum: Personal Finance (Not Investing)
Topic: How does ACA and ROTH conversions work?
Replies: 10
Views: 1182

How does ACA and ROTH conversions work?

We have been retired for over 4 years and basically living on interest, dividends with the majority in cash. This has enabled us to receive a subsidy through the ACA. However, with the changes and premium reductions in the ACA it seems to be a good time to convert a large amount of money from an IRA...
by cricket49
Thu Mar 25, 2021 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do ?
Replies: 37
Views: 2554

Re: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do

I filed my 2019 taxes the end of February in 2020. My return was mailed with a check enclosed for the amount owed for income tax. The check was cashed within a week. Depends on who you speak to at the IRS determines the response you get. The 1st rep said I did not file a 2019 return and a letter wa...
by cricket49
Thu Mar 25, 2021 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do ?
Replies: 37
Views: 2554

Re: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do

I filed my 2019 taxes the end of February in 2020. My return was mailed with a check enclosed for the amount owed for income tax. The check was cashed within a week. Depends on who you speak to at the IRS determines the response you get. The 1st rep said I did not file a 2019 return and a letter was...
by cricket49
Thu Mar 25, 2021 9:42 am
Forum: Personal Finance (Not Investing)
Topic: ROTH to ROTH transfer Estate Planning
Replies: 2
Views: 190

ROTH to ROTH transfer Estate Planning

I am currently adding contingent beneficiaries to ROTH accounts and was wondering if I can transfer money from one ROTH to another ROTH. All the ROTH's have met the 5 year requirement. Since these ROTHs are in the same broker firm are there any restrictions to moving the money? Only once a year?? etc?
by cricket49
Mon Mar 15, 2021 11:33 am
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan - ACA change to CSRs
Replies: 6
Views: 657

Re: American Rescue Plan - ACA change to CSRs

That's the problem we don't have all the answers since this just passed last week. I did read most health insurance carriers tied to the ACA will have their systems programmed with the new subsidy changes on April 1. The question is will that be effective April 1 or May 1? To many details and no cle...
by cricket49
Mon Mar 08, 2021 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

No, still waiting.

Ridiculous. šŸ˜”
by cricket49
Mon Feb 22, 2021 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

I tried efiling my 2020 tax return yesterday and IRS kept rejecting it. Finally went on IRS website to get a transcript of my 2019 return to make sure I was entering AGI correctly. I mailed it on February 20, 2020. They issued me a letter stating: "As of this date 02/21/2021, we have no record...
by cricket49
Mon Feb 22, 2021 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

I tried efiling my 2020 tax return yesterday and IRS kept rejecting it. Finally went on IRS website to get a transcript of my 2019 return to make sure I was entering AGI correctly. I mailed it on February 20, 2020. They issued me a letter stating: "As of this date 02/21/2021, we have no record...
by cricket49
Mon Feb 22, 2021 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

OK called the IRS phone number and 1st person I spoke with basically told me I did not send in a return with my check. (Mailed in same envelope) She also informed me IRS sent me a letter in December 2020 stating they did not receive my 2019 tax return and to submit it. (Never received a letter from ...
by cricket49
Mon Feb 22, 2021 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

I left a message with my local congressman.

Will wait and see if he can do anything.
by cricket49
Mon Feb 22, 2021 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Still waiting on 2019 paper tax return?
Replies: 38
Views: 1952

Re: Still waiting on 2019 paper tax return?

I tried efiling my 2020 tax return yesterday and IRS kept rejecting it. Finally went on IRS website to get a transcript of my 2019 return to make sure I was entering AGI correctly. I mailed it on February 20, 2020. They issued me a letter stating: "As of this date 02/21/2021, we have no record ...
by cricket49
Thu Feb 04, 2021 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Tax Form
Replies: 5
Views: 415

Re: HSA Tax Form

Thanks everyone.

I thought I needed it to do my taxes.
by cricket49
Thu Feb 04, 2021 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Tax Form
Replies: 5
Views: 415

HSA Tax Form

If you contributed to an HSA last year will you receive a Tax Form from the HSA Administer?

TIA
by cricket49
Wed Jan 27, 2021 8:36 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax
Replies: 21
Views: 1923

Re: TurboTax

I have been using Free Tax USA for a few years and have been very satisfied with it. So far this year I have entered into the software a IRA ROTH conversion, Dividends and Interest Earned, Capital Gains sale on land, ACA 1095A and stocks sold as gain/loss. This year my tax return was more complicate...
by cricket49
Wed Dec 16, 2020 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare eligible - Calculate HSA contribution for 2020
Replies: 3
Views: 284

Re: Medicare eligible - Calculate HSA contribution for 2020

I completed a form with Fidelity to remove the excess contribution amount which was less than 2.00.

Thanks for the help!
by cricket49
Wed Dec 16, 2020 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Slow Processing Returns?
Replies: 26
Views: 2062

Re: IRS Slow Processing Returns?

Filed my tax return in early March by mail. The 25.00 check I enclosed with the tax return was cashed within a few weeks. When I checked the IRS website there was nothing stating the 2019 return was in process or completed. Pulled up my social security statement and the 2019 income has not been reco...
by cricket49
Mon Dec 07, 2020 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Medicare eligible - Calculate HSA contribution for 2020
Replies: 3
Views: 284

Medicare eligible - Calculate HSA contribution for 2020

We have an HSA eligible health insurance plan through the ACA for 2020. We had the family plan until May 1 when I dropped off due to Medicare eligibility. We are both over the age of 60 which allows an additional 1,000 per person catch up in the HSA. Currently from May - December my husband has sing...
by cricket49
Wed Nov 04, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Email from healthcare.gov about 2019 income
Replies: 21
Views: 2263

Re: Email from healthcare.gov about 2019 income

Wow, that was quick.

ACA accepted my excel spreadsheet with 2020 projected income.

What a relief. Last time it took weeks to get a verification from ACA.
by cricket49
Tue Nov 03, 2020 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Email from healthcare.gov about 2019 income
Replies: 21
Views: 2263

Re: Email from healthcare.gov about 2019 income

When we enrolled in the ACA three years ago we received a similar letter requiring documents to prove our income for the year. Also, the deadline was January 31 of the next year. This seemed ridiculous to me since most financial institutions have until January 31 to mail out these documents. I calle...
by cricket49
Mon Oct 19, 2020 5:45 pm
Forum: Personal Consumer Issues
Topic: Cost of land clearing
Replies: 18
Views: 1586

Re: Cost of land clearing

We used a forestry mulching company that cuts the trees and brush then feeds it into a mulching machine. It is then dispersed on the land as mulch. We went that route because the land was full of trees and in between mountains where burning the downed trees was not an option. The trees were cut so c...
by cricket49
Fri Oct 02, 2020 11:18 am
Forum: Personal Consumer Issues
Topic: Trail sneakers
Replies: 59
Views: 3863

Re: Trail sneakers

jebmke wrote: ā†‘Fri Oct 02, 2020 10:49 am I also need wide toe box. So far, Ecco has worked well for me. Any other brands I should look at?
I also need a wide toe box and buy Altra running and trail running.
by cricket49
Fri Oct 02, 2020 9:03 am
Forum: Personal Consumer Issues
Topic: Trail sneakers
Replies: 59
Views: 3863

Re: Trail sneakers

Was a Sacony running shoe fan forever until I found Altra. Now I only buy Altra for road running, trail running and hiking. Altra Torin for road running, Lone Peak for trail running and Lone Peak high top for hiking. I will never buy another brand after discovering Altra. Also converted my DH to Alt...
by cricket49
Thu Oct 01, 2020 12:49 pm
Forum: Personal Consumer Issues
Topic: How Often Does Medicare Pay For COVID Tests
Replies: 4
Views: 651

Re: How Often Does Medicare Pay For COVID Tests

We got our covid19 test at our local health department for free. They provide tests over and over with or without symptoms.
by cricket49
Thu Sep 24, 2020 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank savings interest rate dropping from 0.8% to 0.6%
Replies: 119
Views: 11485

Re: Ally Bank savings interest rate dropping from 0.8% to 0.6%

Just opened a few No Penalty CD's @ .75

These rates keep dropping. šŸ˜”
by cricket49
Sun Sep 20, 2020 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Challenging a physician's bill
Replies: 82
Views: 5683

Re: Challenging a physician's bill

This happened to me when I was traveling and fell while hiking. Called the minor medical clinic and they stated my BCBS was accepted in network. I asked the receptionist again when providing my card if the facility was in network. She assured me it was. Two months later I received an EOB from BCBS w...
by cricket49
Tue Sep 01, 2020 7:58 pm
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 595
Views: 55501

Re: What is your age and asset allocation ?

Age 65 and 60
Retired for 3 years

64% US Equities
11% Bonds
25% Cash
by cricket49
Mon Aug 24, 2020 7:45 pm
Forum: Personal Consumer Issues
Topic: Thoughts on Tennessee
Replies: 116
Views: 14024

Re: Thoughts on Tennessee

Moved from west Tennessee to east Tennessee 2 years ago when we retired. We live about 30 minutes to Gatlinburg and 1 hour to Knoxville. Pros - Beautiful mountains and surrounding countryside. Peaceful. Great weather with beautiful fall colors. LCOL Homes are reasonably priced. Low property tax A fe...
by cricket49
Mon Aug 24, 2020 6:11 pm
Forum: Personal Consumer Issues
Topic: Thoughts on Tennessee
Replies: 116
Views: 14024

Re: Thoughts on Tennessee

following with interest - really liked TN the few times were were there as a potential retirement spot. One thing that bothered me a bit - seems like a much higher than average rate of smokers in the population? No offense to those who choose to smoke, but having some medical issues with asthma - I...
by cricket49
Wed Aug 05, 2020 11:48 am
Forum: Personal Consumer Issues
Topic: tru tankless(electric) versus rheem hybrid(electric)
Replies: 15
Views: 1088

Re: tru tankless(electric) versus rheem hybrid(electric)

Make sure you talk to a few people who have one or plumbers before you install an electric tankless. We had a gas tankless in our last house and loved it. The only issue we had was it took a long time to get hot water to certain faucets. Wasted a lot of cold water. It depends on how your house was p...
by cricket49
Sat Aug 01, 2020 9:51 am
Forum: Personal Consumer Issues
Topic: Land in Dahlonega, Georgia
Replies: 29
Views: 2307

Re: Land in Dahlonega, Georgia

Agree with other comments. Many things can and will happen over the years. We bought 10 acres when I was 34 to build a house for retirement in the future. Who knew a business opportunity would come up and we would move to another city. We sold the land. Eight years ago we bought 9 acres in the area ...
by cricket49
Sat Aug 01, 2020 9:18 am
Forum: Personal Consumer Issues
Topic: Cyclists...where are you getting your masks?
Replies: 65
Views: 5974

Re: Cyclists...where are you getting your masks?

We do not wear masks while cycling or hiking. We usually hit trails during the week when there are fewer people out. We never hike on popular trails where you might encounter many people.
by cricket49
Thu Jul 23, 2020 5:54 pm
Forum: Personal Consumer Issues
Topic: What about northeast corner of GA? (sorry about long post)
Replies: 75
Views: 8660

Re: What about northeast corner of GA? (sorry about long post)

You still have 2 more years of paying taxes in Tennessee on dividends. (although a very low tax for 2020 and 2021). 2020 is the last year to pay State Income tax in Tennessee on dividends. As of January 1, 2021 Tennessee is a tax free state. It is a great place to retire if you find the right area....
by cricket49
Wed Jul 22, 2020 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Sold land - Capital Gains & Loss
Replies: 7
Views: 621

Re: Sold land - Capital Gains & Loss

That is good news.

Now I can do a ROTH conversion this year to increase my AGI. Trying to keep my income in the required range to receive ACA subsidies.

Thanks!
by cricket49
Wed Jul 22, 2020 4:34 pm
Forum: Personal Consumer Issues
Topic: What surprised you the most once you retired?
Replies: 267
Views: 31856

Re: What surprised you the most once you retired?

What surprised me the most? Deep sleep with no stress. Waking up in the morning, every morning feeling great. You have no idea the stress you endure while working until it is gone. The second thing was all the years of planning and frugal living paid off. Retired three years and no worries about mon...
by cricket49
Wed Jul 22, 2020 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Sold land - Capital Gains & Loss
Replies: 7
Views: 621

Sold land - Capital Gains & Loss

I am trying to understand the federal tax rules when selling land. These properties are long term investments. Sold two lots with a capital gain of 20,000 on one and a loss of 30,000 on the other. So does the 30,000 loss offset the gains where the tax is 0? If so, would I be able to use the 10,000 l...
by cricket49
Sun Jul 12, 2020 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Chase reducing credit card limits
Replies: 141
Views: 15970

Re: Chase reducing credit card limits

When you pay cash for cars or a house your credit score will start dropping below 800. This happened to us when we retired. We also pay our credit card bills in full. Chase sent me a letter cutting our limit in half. I just sent a message to Chase requesting they reinstate our credit limit to the pr...
by cricket49
Sun Jul 12, 2020 7:08 pm
Forum: Personal Consumer Issues
Topic: Pandemic buys that have improved quality of life?
Replies: 185
Views: 19912

Re: Pandemic buys that have improved quality of life?

We bought the last 2 Trek Mountain Bikes at the bike store the first week of May. Then we found out most nearby state parks and bike trails were closed. We were finally able to bike 6-7 times in the past month.

Exercising outside again after being inside for 3 months was exhilarating!
by cricket49
Tue Mar 24, 2020 8:06 am
Forum: Personal Investments
Topic: How much you lost/gain since Feb 20,2020 ?
Replies: 366
Views: 33059

Re: How much you lost/gain since Feb 20,2020 ?

Lost 23% from my high of 3 weeks ago. I guess it was 3 weeks. Seems like last week was a month long.
The days are dragging due to the change in coronavirus news and numbers from one day to the next. :-(
by cricket49
Sun Mar 08, 2020 10:36 am
Forum: Investing - Theory, News & General
Topic: [Why aren't forum members following the "Stay the course" approach?]
Replies: 379
Views: 27861

Re: [Why aren't forum members following the "Stay the course" approach?]

Staying the course here. If you lived through the last recession it is easier to stay calm and stay the course. The fear and unknown in 2009 was real for so many of us. I only had 190,00 in my portfolio at that time but lost about 40% and had no idea what to do. So I did nothing. Best decision I eve...
by cricket49
Thu Oct 10, 2019 3:48 pm
Forum: Personal Investments
Topic: Capital Gains on Sale of Land
Replies: 9
Views: 920

Re: Capital Gains on Sale of Land

Thanks everyone for your replies.
by cricket49
Thu Oct 10, 2019 2:31 pm
Forum: Personal Investments
Topic: Capital Gains on Sale of Land
Replies: 9
Views: 920

Re: Capital Gains on Sale of Land

We are in the process of placing our land on the market with a real estate agent. My understanding is the real estate fees can be subtracted from the cost basis of the land to reduce the capital gains we owe. We paid a forestry mulching company to clear the land due to the dense underbrush and tree...
by cricket49
Thu Oct 10, 2019 2:28 pm
Forum: Personal Investments
Topic: Capital Gains on Sale of Land
Replies: 9
Views: 920

Re: Capital Gains on Sale of Land

If you want to pay less tax, you want to reduce the taxable gain by increasing the basis, not subtracting from it. Certain improvements can increase the basis, but not if they are just "maintenance". (Your challenge is to tell the difference ...) You are correct on the basis calculation. ...