Search found 6 matches

by retiredguy
Sun Feb 17, 2019 11:35 am
Forum: General questions and comments
Topic: How is a reduction in tax deferred savings treated?
Replies: 2
Views: 1840

Re: How is a reduction in tax deferred savings treated?

Thank you very much for the quick weekend reply! I love FRP and having this kind of support makes it even better. I've got my friends using it too!
by retiredguy
Sun Feb 17, 2019 10:38 am
Forum: General questions and comments
Topic: How is a reduction in tax deferred savings treated?
Replies: 2
Views: 1840

How is a reduction in tax deferred savings treated?

For tax reasons, I want to be be able to override my settings which are set to have money coming out of tax deferred savings (i.e. my traditional IRA) last and instead in some years force some income out of my traditional tax deferred IRA instead. The way I have been doing that is by adding addition...
by retiredguy
Sat Feb 16, 2019 9:38 am
Forum: General questions and comments
Topic: How are income tax rates treated?
Replies: 3
Views: 2267

How are income tax rates treated?

When you enter different income tax rates in Additional Input you indicate what years a given entry rate applies to. My question is if I enter an income tax rate for, say, my 56th year, will FRP apply that rate to the income earned in my 56th year or the income taxes paid in my 56th year (which will...
by retiredguy
Wed Feb 13, 2019 11:04 am
Forum: General questions and comments
Topic: How do you treat an inheritance?
Replies: 4
Views: 2325

Re: How do you treat an inheritance?

Now that I reread, you already answered this question. Call it "taxable savings" Disregard!
by retiredguy
Wed Feb 13, 2019 9:35 am
Forum: General questions and comments
Topic: How do you treat an inheritance?
Replies: 4
Views: 2325

Re: How do you treat an inheritance?

Thanks very much for the quick reply! One more follow-up question:

Then what would be the appropriate portfolio type? Is it tax free because the inheritance itself is too small for the estate tax to apply? Or is it taxable because any income it generates is taxable?
by retiredguy
Wed Feb 13, 2019 1:19 am
Forum: General questions and comments
Topic: How do you treat an inheritance?
Replies: 4
Views: 2325

How do you treat an inheritance?

I currently have an inheritance of about $1 million entered as an additional input. Do I put that in as miscellaneous income with 0% taxable? Or do I put in as tax free savings? or what?