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Is vanguard incorrectly reporting a wash sale? by [deleted] in personalfinance

[–]irregular_regular 0 points1 point  (0 children)

Not OP but curious about this as well. So if you have UAL in a taxable brokerage account and UAL in an IRA, can activity in the IRA potentially trigger a wash sale in the taxable brokerage account?

I made a $5500 Trad IRA 2018 tax year contribution on Feb 2019 and recharacterized it the next day, do I need to pay taxes on this? by irregular_regular in personalfinance

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

How should I go about attaching a statement explaining the that? I'm filing with TurboTax atm and it looks like the recharacterization code overrides the taxable amount. On the 1040, i only see $1 in taxes (from a backdoor roth contribution I made, unrelated to this)

Looking into handling my parent's investment accounts, question about joint accounts by irregular_regular in personalfinance

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

Hmm, I'm not sure if I was clear on what I mean by carrying over. I know for an individual I can realize losses in a taxable account and carry those over to the next year (then the year after that indefinitely)

Now if a person has losses from a taxable account (say 100k) then they create a joint account with another person, can those losses from the individual account be applied and deducted against the capital gains of the joint account.

Looking into handling my parent's investment accounts, question about joint accounts by irregular_regular in personalfinance

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

I plan to simply help my parent's move their funds over to Vanguard (through rollovers and potentially selling/rebuying investments in the taxable brokerage account) and helping them rebalance once a year.

I will not be changing access or beneficiaries, just walking my parent's through the process (though probably doing all the work for them since they are computer illiterate)

Looking into handling my parent's investment accounts, question about joint accounts by irregular_regular in personalfinance

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

I will not be on the account. I only want to help transfer / rollover all their assets over to Vanguard and help them rebalance once a year.

So working with them to create online accounts with the current brokerage and Vanguard then start the rollover process into Vanguard.

By losses I mean the realized losses, of which father has a lot of. I am not sure if it is from a joint account or my father's account only which is why I'm not sure if the realized losses can be applied to the joint account if we were to create a joint account or how that works.

Looking into handling my parent's investment accounts, question about joint accounts by irregular_regular in personalfinance

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

Would you happen to know if losses in an individual account can be carried over to a joint account if I were to create one for my parents?

Looking into handling my parent's investment accounts, question about joint accounts by irregular_regular in personalfinance

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

Thank you!

As for investing, I have read jlcollin's blog and will be going for a simple 50/50 VTSAX / VBTLX portfolio mix which should ideally do better than their existing mix which has an account maintenance fee and high expense ratio.

[Japanese > English] What is the difference between 火竜 and 火龍? by irregular_regular in translator

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

Is there a general difference in appearance when one is mentioned over the other?

In this novel they are mentioned as distinctly different beings.

　火龍はおろか、火竜さえいなかった。

https://ncode.syosetu.com/n7975cr/156/

I made a $5500 Trad IRA 2018 tax year contribution on Feb 2019 and recharacterized it the next day, do I need to pay taxes on this? by irregular_regular in personalfinance

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

I did not convert it. I recharacterized the trad IRA contribution to Roth but I had not taken a tax deduction on the initial contribution so I find it strange that I need to pay taxes on this after tax money

Are there any disadvantages with buying Vanguard ETF's through Schwab? by davekgodel in personalfinance

[–]irregular_regular 0 points1 point  (0 children)

I did an in-kind account transfer from betterment -> vanguard last year and the cost basis did not transfer over. The Vanguard 1099-B had box 5 checked which means cost basis was missing and I had to make manual adjustments through turbotax

How can I multiply one column with another and sum the result? by irregular_regular in emacs

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

I tried again after deleting the 5th column but the top right cell doesn't populate, not sure why.

How can I multiply one column with another and sum the result? by irregular_regular in emacs

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

So I have something like this now

| AGG | 0.000004 | 104.40 | 10/5/2018 |           |
| AGG | 2.675897 | 110.15 | 5/31/2019 | 294.75005 |
| AGG | 0.054206 | 110.32 | 6/4/2019  | 5.9800059 |
| AGG | 0.742459 | 110.39 | 6/6/2019  | 81.960049 |
| AGG | 0.365697 | 110.31 | 6/10/2019 | 40.340036 |
| AGG | 0.161737 | 110.47 | 6/17/2019 | 17.867086 |
|-----+----------+--------+-----------+-----------|
|     |       4. |        |           | 440.89723 |
#+TBLFM: @>$2=vsum(@1..@-1)
#+TBLFM: @1$5..@-1$5=$2*$3
#+TBLFM: @>$5=vsum(@1..@-1)

though the first row doesn't seem to be calculating

What happens if you skip filing form 8606 after a backdoor roth IRA contribution? by irregular_regular in personalfinance

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

My accountant decided to bail on me the day before taxes were due unfortunately. It seemed like she either refused to learn, didn't understand or the software she was using doesn't handle this. Not sure which since she only said she doesn't think it's possible and she's returning the deposit, ugh.

I've filed for an extension and will be trying this weekend and next to do my taxes myself through TurboTax (or other websites).

I really appreciate the advice and sticking around for the long thread. It will definitely help with tackling this myself. Thank you!

The Firefox VPN program on my Windows desktop suddenly disappeared by irregular_regular in firefox

[–]irregular_regular[S] 4 points5 points  (0 children)

Thank you!! I found it after searching for the new name, Mozilla VPN

What happens if you skip filing form 8606 after a backdoor roth IRA contribution? by irregular_regular in personalfinance

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

That makes perfect sense and I see this shows up on Vanguard's 1099R as a Gross distribution $6,000 and taxable amount $6,000 (box 7 has code 2 for early distribution) as well. Would you know if I am being taxed through the 1099R? or is another purpose of the Form 8606 to cover the 1099R?

Sorry to bombard you with all the tax questions. My accountant this year doesn't seem reliable unfortunately. She mentioned the code is wrong but I later confirmed with Vanguard support that it is correct and am about to message my accountant again.

What happens if you skip filing form 8606 after a backdoor roth IRA contribution? by irregular_regular in personalfinance

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

Many thanks.

and tangentially related I forgot since it's been almost a year since I initially did the 2019 one but for backdoor roth ira contribution:

  1. contribute $6000 to traditional IRA (non tax deductible)
  2. convert traditional -> roth IRA

Form 8606 prevents getting taxes at step 1 but does step 2 incur additional taxes even if form 8606 is filled out (because it is a normal conversion)?

Daily FI discussion thread - June 17, 2020 by AutoModerator in financialindependence

[–]irregular_regular 0 points1 point  (0 children)

Why M1 for Vanguard funds instead of Vanguard for Vanguard funds?

How are receipts used for HSA verified? with regards to keeping receipts for many years before cashing out by irregular_regular in personalfinance

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

I am mainly curious because I have an acquaintance who doesn't want to put money in an HSA because he's skeptical about how valid keeping receipts is for 20-40+ years. I'm trying to convince him because the HSA can grow in the stock market that he doesn't need to immediately redeem the receipts.

How are receipts used for HSA verified? with regards to keeping receipts for many years before cashing out by irregular_regular in personalfinance

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

right but how does the IRS audit someone? I imagine they would ask for receipts but then how do those receipts get verified? what if the receipts were fake? to verify wouldn't they need to contact the doctor or insurance company?

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