The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  o well Date:  12/29/2011  8:40 PM
Author:  0x6a74 Number:  114471 of 130890

i think i've mentioned my 'brilliant' strategy of converting just enough from tIRA to Roth every year to have to pay a few hundred to IRS (start TurboTax early, and "what-if" the conversion while estimating everything else)

TurboTax (TT) arrives, but i'm still trying to restore computer from backups (computer had been stolen)

then i go to hospital ...for a month
i collect some of my info, but not knowing when i'd get home, i do a WAG and make a conversion last week.

Get home --finish restore, install TT, collect better numbers .. but TT says Sched-D not available till Jan. "what-if" guessing with cap gains taxes a whole nother deal --but i make another WAG and another conversion

open up TT this morning and it says there are updates...
do the updates ... says one has something to do with Sched-D
sure enough --a provisional Sched-D ... enter my transactions and

looks like first WAG cost about 600 dollars; the 2d WAG another 1700
ie, paying $3200 or so, when "the plan" was to pay a couple hundred

unless i can move some back tomorrow without Complication or Consequence
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us