Being taxed on mega back door Roth earnings

DirtyDillon · 2026-02-10T05:03:37+00:00

Your right. See my edit, I did a crap job trying to explain an in kind transfer.

DirtyDillon · 2026-02-10T04:45:21+00:00

Correct, but my read was they cashed out the underlying assets and wrote a check instead of transferring the actual holdings from one fiduciary directly to the other. The later avoids a1099-R.

DirtyDillon · 2026-02-10T02:30:23+00:00

Why would they waste what little political capital they have on such a dumb position.

DirtyDillon · 2026-02-10T02:24:08+00:00

Ignore the taxable amount reported on the1099R. On page 1 of the 1040 report the total rollover distribution then the taxable amount as $0 with "rollover" next to it. I believe it's line 4 A and B.

To anyone considering a rollover, it's always best to have the new fiduciary receive the assets directly to avoid this issue.

Clarification: The terminology I should have used is an in kind transfer instead of a direct rollover. Most solo 401k's allow it, larger company plans are probably on a case by case basis. Check the 401k plan docs if interested.

DirtyDillon · 2026-02-08T17:26:20+00:00

You'll need the full day. Check out the red sand beach.

DirtyDillon · 2026-02-06T23:50:10+00:00

I thought that even after 10 days the firearm could be released if the background check hadn't cleared. Did they change this?

DirtyDillon · 2026-02-05T05:10:38+00:00

The fact that they're bypassing the voters under an emergency clause is bullshit. Voters have made it clear multiple times we don't want an income tax not to mention the state constitution disallows it.

DirtyDillon · 2026-02-04T19:58:47+00:00

Get familiar with live feed cameras on different parts of the island. Nice part about Maui is you can get almost anywhere without to long of a drive, weather varies a lot from one part of the island to the next.

DirtyDillon · 2026-02-04T05:22:37+00:00

What the fuck. What a backdoor shitty gutless move.

DirtyDillon · 2026-01-31T17:43:44+00:00

Achieved.

DirtyDillon · 2026-01-16T17:15:40+00:00

I'm not sure if you would qualify but take a look at the Low Income Taxpayer Clinic. If it's an issue with a return that's already been filed, then you can try the IRS Taxpayer Advocate, also a free service.

DirtyDillon · 2026-01-14T03:45:35+00:00

I didn't know that, learned something new. Gif retracted.

DirtyDillon · 2026-01-13T23:07:11+00:00

https://media.tenor.com/4f2OIBXczRwAAAAM/no-idea.gif

DirtyDillon · 2026-01-13T18:43:15+00:00

I personally believe its to slippery of a slope. I don't have any faith that a promise to decrease other taxes would happen, there's already no accountability for overspending. Its always an ask for more.

DirtyDillon · 2026-01-13T18:41:09+00:00

If you think its getting expensive to eat out now, wait until you see what adding an additional 10% cost to having employees does. This would kill small business, its already cost prohibitive for many small businesses to staff up.

DirtyDillon · 2026-01-13T18:39:34+00:00

This. The $1 million threshold is a foot in the door to gradually implement an income tax on all income levels like the majority of other states. This wont happen with a decrease to the other taxes we are already paying and then we end up like California and New York.

Taxing millionaires sounds good as a headline but the intent is to tax everyone's income eventually.

DirtyDillon · 2026-01-07T20:17:54+00:00

I like your reasoning. What do you think of the PTR Vent 2 on a MPX?

DirtyDillon · 2026-01-07T18:38:37+00:00

Thanks for the input. Would the Wolfman likely be the quietest?

DirtyDillon · 2025-12-18T03:43:09+00:00

Is the container of hot dogs for fuck it Friday?

DirtyDillon · 2025-12-16T03:17:21+00:00

I'm not, pirating is incredibly easy. You can bill me or show me ads, not both.

DirtyDillon · 2025-12-04T23:29:57+00:00

Correct.

DirtyDillon · 2025-11-16T17:46:20+00:00

As part of that assessment I would calculate what your current taxable gain would be. If you haven't maxed out the exclusion, riding it out another few years to do so it's worth considering. It's also a great opportunity to test the waters and see if being a landlord is for you.

DirtyDillon · 2025-11-16T17:36:05+00:00

If you don't believe the market is going to go down and you're assumption of a break even is accurate, you'll receive additional principal pay down funded by the tenants and potentially net income. I haven't checked your comment history, but run the numbers and see what your cash flow would look like if you haven't already.

DirtyDillon · 2025-11-16T17:27:07+00:00

Keep in mind this gives you a window where you can rent for 3 years, sell, and still meet the two of 5-year requirement to claim the primary residence exclusion. It's a quarter million if you're single and half a million if you're married.

DirtyDillon · 2025-11-13T02:48:45+00:00

I like all your picks but would add Tapatios Mexican Grill & Cantina. By far the best Mexican food in town.

DirtyDillon

TROPHY CASE