Recent comments in /f/personalfinance

Fish-Weekly t1_jaafri1 wrote

Reply to comment by 1955photo in Trying to dispense an inheritace and a company is making it difficult. how can we resolve this? by Jack_of_Spades

Yes - beneficiary designations on the account supersedes the will. One option you might have would be for your mother to disclaim $200k of the inheritance. That $200k would then be distributed per the will to you and your brother. The lawyer who drafted the will should be able to advise you as to whether this could be an option to accomplish what you are wanting.

I don’t fully understand the tax issues you were trying to avoid. Are you and your mom just thinking you would all just cash out the IRA and pay taxes on the full amount? That is typically not the best way to handle an inherited IRA. A better way is to have an inherited IRA account set up for each beneficiary and then take the minimum distribution every year. Your mom, being the surviving spouse especially, has many options to defer paying taxes on these funds. You and your brother would have to withdraw and pay taxes over a 10 year period per the Secure Act:

https://tickertape.tdameritrade.com/retirement/inherited-ira-secure-act-stretch-provision-16710

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BouncyEgg t1_jaafo3q wrote

Reply to Is this a Chase thing or? by Kawaiisampler

It is not abnormal nor illegal for financial institutions to impose a waiting period on deposited checks.

In general, this should actually be your expectation moving forward. Institutions that allow you access to funds earlier tend to be the exception rather than the norm.

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Brye11626 t1_jaafo1r wrote

Reply to comment by Banea-Vaedr in Would I need to pay Rent Twice? by evilhaw

That would be super bizarre way of handling things. You think the landlord is trying to collect a retroactive payment for February 14th-28th on March 1st?

That would be a first for me. I'd say it's far more likely that the 600 was credited towards February and then they are "cutting a break" in March to even it out. That's how all my rental agreements have worked whenever they are prorated or a subsidy was given i.e. one month or half month free for move-in.

Either way OP should ask the owner.

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Mysunsai t1_jaafdji wrote

Reply to comment by _Nothing_Left_ in Deducting Losses from Sale of ISOs (USA) by _Nothing_Left_

In that case, your sale just results in capital losses now, unrelated to your previous taxes. If you end the year with a net capital loss, up to $3k of that reduces your other taxable income, and the rest carries forward to future years.

Your previous taxes occurred in the past, and are no longer important to anything that goes on now.

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dafunkmunk t1_jaaf97d wrote

Reply to Would I need to pay Rent Twice? by evilhaw

Do you have any paperwork that covers what you were paying. Some places have you pay first and last, some places have you pay a security deposit and a "move in fee" that has nothing to do with rent.

I personally had an apartment where I paid first, last, and a security deposit. I lived there for several years and ownership of the property changed while I lived there. When I moved out, the new company tried to keep my security deposit because I didn't pay my last month rent. I had to spend several weeks going back and forth with them over this. I had a friend who was a lawyer contact them as if I were taking them to court and they immediately paid up. I'm pretty confident that they knew I paid my last month rent when I first moved in but thought they could just bully me into letting them keep my security deposit.

So if you have anything that shows what you paid when moving in, you should keep that on hand as long as you live somewhere. They might be trying to fleece you, you might have misunderstood what you were paying, it might be an honest mistake on their end. Unfortunately I don't think anyone here can answer the question for you because we wouldn't know what you actually paid for

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bilferjoij OP t1_jaaf5wj wrote

Reply to comment by greyAbbot in Help with advice for 23 yo. by bilferjoij

I did make a little bit more at a job that I did work at before my current one, but I quit there because they were giving me broken promises of moving me positions for over a year. (At a car dealership, now I work with girlfriend’s family ar their business). I did get a loan out on a prius so very low maintenance cost (in theory). I take care of my vehicles especially after driving crap ones for years. I had a hard time with education but I do see how it proves well to further it. Not sure what to do career wise, though. In a stuck spot, not making any excuses as I could be doing a lot better.

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greyAbbot t1_jaaeb0q wrote

Reply to Would I need to pay Rent Twice? by evilhaw

What was the 1300 for? It should say on the contract, and it would answer this question. Normally people ask for first month, last month, and deposit at signing. However, if they're asking for pro-rated, maybe that means you didn't actually pay first month.

If you're at all concerned about this, I'd keep your receipts (which presumably will say what month they're for). They can't just randomly double-charge you for a month legally, but that doesn't mean it doesn't happen.

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