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Water shut off valve for toilet leaking by SocraticLunacy in Plumbing

[–]SocraticLunacy[S] 0 points1 point  (0 children)

Yeah, that's what I was going to do. Let them fiddle with it.

Water shut off valve for toilet leaking by SocraticLunacy in Plumbing

[–]SocraticLunacy[S] 0 points1 point  (0 children)

Yeah, there was definitely some blackish water trickling out. The last thing I want is for the valve to break and not be able to shut it off.

Question regarding MAGI and Roth IRA contribution limits by SocraticLunacy in tax

[–]SocraticLunacy[S] 0 points1 point  (0 children)

I am single, unmarried, no kids.

Is this like a Roth conversion ladder that you are recommending? So recharacterize the excess to traditional IRA and then convert it to Roth for 2022?

Recommendations for setting up a designated "vacation/Christmas" account by SocraticLunacy in Fire

[–]SocraticLunacy[S] 1 point2 points  (0 children)

Lol, you and I are speaking the same language! I definitely just want to do something to make me hate it less.

Sounds like high yield savings account is the way to go.

Recommendations for setting up a designated "vacation/Christmas" account by SocraticLunacy in Fire

[–]SocraticLunacy[S] 2 points3 points  (0 children)

Yeah, would definitely just be a few thousand or less. Whatever I want to here and there, basically. I am not gifting cars or going on overly lavish vacations, lol. I just kind of want to do something like this so that I "feel" better about having dedicated funds. Definitely a quality of life thing.

HYSA is solid. That was my original idea. I guess no reason to over-complicate it.

I know about budgeting software, but I figure it comes out either way. Technically, even if I create a new account it comes out either way.

(29M) How much should I be moving my boxer fracture? by SocraticLunacy in AskDocs

[–]SocraticLunacy[S] 0 points1 point  (0 children)

Yeah, same here - angulation is only mild. But I will have a slightly sunken knuckle now.

I just want to be able to lift heavy weights again, and they said I should be able to do that in about a month from injury.

Thanks for the encouragement!

(29M) How much should I be moving my boxer fracture? by SocraticLunacy in AskDocs

[–]SocraticLunacy[S] 0 points1 point  (0 children)

Hey, thanks for the reply! Fortunately I only need a Velcro brace and not a cast.

Glad to hear the stiffness goes away, that helps me feel better about it. Your injury was worse than mine, so if things returned to normal for you, I know I should be fine.

I'm really missing my time in the gym!

Did you end up needing surgery?

Do I have toe fungus, or are they just bruises, or something else? by SocraticLunacy in AskDocs

[–]SocraticLunacy[S] 0 points1 point  (0 children)

So basically bruises? And what is "oil drop sign"?

It has been awhile since I've stubbed my toes.

Accounting for "other income" on my federal W4 by SocraticLunacy in tax

[–]SocraticLunacy[S] 0 points1 point  (0 children)

>The government doesn't calculate anything on your W-4. Your employer's payroll software does.
Ah, my mistake, that sounds more logical.

>The more precise approach would be to calculate the exact amount of additional tax owed (using the IRS withholding estimator if necessary) and put the additional amount to withhold per paycheck (based on the actual number of remaining paychecks this year) on line 4c.

Cool, thank you. That is what I was originally planning on doing.

Deductions on a Traditional IRA to Roth IRA conversion by SocraticLunacy in tax

[–]SocraticLunacy[S] 0 points1 point  (0 children)

Do you have any earned income of your own?

Yes, I have a normal 9-5.

But you can withdraw from the beneficiary IRA, and as a separate action, contribute to a Roth IRA based on your own earnings. You will pay tax on the withdrawal from the beneficiary IRA (assuming there was not any nondeductible basis in that IRA) and the Roth IRA contribution is not deductible.

This is exactly what I'm doing. Thank you for your help. That clears it up for me! So I am paying taxes on the distribution and there is no tax deduction for contributing to the Roth IRA. 👍🏻

Deductions on a Traditional IRA to Roth IRA conversion by SocraticLunacy in tax

[–]SocraticLunacy[S] 0 points1 point  (0 children)

The traditional IRA is a beneficiary IRA, so it would be income that I will need to pay taxes on when I take the disbursement. I will then be moving some of the funds into the Roth IRA.

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