cmonkey's journal

Where are you and where are you going?
halfmoon
Posts: 477
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Re: cmonkey's journal

Post by halfmoon » Wed May 03, 2017 10:25 am

cmonkey wrote:
Wed May 03, 2017 10:14 am
Interesting. HSAs are essentially black boxes to the IRS, all they see is one number - contributions. They don't know what the holdings are. You could turn it into a trading account and keep all the gains tax free.
I don't think this is correct. The HSA trustee issues a 5498 to the IRS and a copy to you showing the FMV, just as with an IRA. As with an IRA, no detail on holdings is reported. However, If you have MLPs in your IRA:
The Schedule K-1 you get from the MLP will include any UBTI figure. If the total exceeds $1,000 from all your MLP investments in your IRA, then a special tax form, Form 990-T, must be completed and sent to your IRA custodian for filing. You'll end up having to pay tax on the UBTI, even though you own the investment in a retirement account.
I'm guessing this would be the same for an HSA. Probably not that common, but it would be a shock.

Lots of abbreviations here. Sorry.

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cmonkey
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Re: cmonkey's journal

Post by cmonkey » Wed May 03, 2017 1:10 pm

halfmoon wrote:
Wed May 03, 2017 10:25 am
I don't think this is correct. The HSA trustee issues a 5498 to the IRS and a copy to you showing the FMV, just as with an IRA. As with an IRA, no detail on holdings is reported.

Then it's probably the same with an HSA. All that UBTI mumbo jumbo. Give me straight up tax free dividends all the way up to 75K annually any day compared to that. Thanks for confirming that I should just dump them all. :lol: ;)

George the original one
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Re: cmonkey's journal

Post by George the original one » Thu May 04, 2017 11:45 am

I don't know about HSAs, but UBTI can be a concern with IRA/Roth accounts. In practice, it rarely happens unless you've got way more in the IRA/Roth than ERE folks typically have, like if you rolled over some retirement plan to an IRA.

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cmonkey
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Re: cmonkey's journal

Post by cmonkey » Thu May 18, 2017 8:52 pm

So I guess I'm due a photo update. It's been a long time since I showed a good looking garden. We've been practically living outside each night now that the weather is good and usually don't come in until it gets dark.

I finally made a proper compost pile. I'm going to flip it once more and then put it down as a mulch. I think it'll cover around 100-150 sq feet at a good 4-6 inches thick. I've also started another compost pile. But I need to build more bays! I'm starting to generate a lot of organic waste. I'm bagging all my grass clippings and putting them in the compost (or in the chicken run when the dandelions seeded). The chicken run bedding is going to get composted soon as well, its got about 2 years worth of shit, leaves and grass in there.

We've also been collecting/identifying free local organic waste. So far we've collected about 20 lbs of coffee grounds from Starbucks and have found a source of free horse manure about 2 miles south of us. On top of all the wood chips!


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I've started mulching with all the leaf mould I made. It's not quite broken down which makes it perfect for a mulch, which I used on the bed below. I think it looks really nice and no more weeds! I put about 6 inches down.

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I've decided on a strategy with the wood chips. The paths are getting 8-12 inches put on. The beds themselves will have grass clippings/leaf mould/horse manure put down and then wood chips on top of that. I'll let it sit and rot down all year and then next spring I will rake all the wood chips that are left into the paths. This way I get the best of the mulch breaking down but don't have to plant into them.

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Our hedge is growing in nicely. We put it in for a wind break and for privacy.

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Also for wildlife, which is working quite well. A robin built a little nest in one of the bushes. :)

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We've been splitting and moving a lot of our hostas/shade garden plants. This bed has about doubled in size this year. We have nearly 50 varieties of just hosta, not to mention all the others.

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Our wildflower bed is really taking off. The weeds aren't even getting a chance to grow, there is so much phlox, daisy, bachelor button, etc...

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We put a shade cloth over the chicken run to protect them from the hot sun. Prior to putting this on, they would just huddle under the little shelter I built for them. Now they stay nice and cool and so does the coop.

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We are sick to death of getting maggots in our cherries and so we are actually doing something about it. Say hello to the ghost in our orchard! Supposedly this works 100% of the time if you get it on in time. I might have been too late because most of the cherries have a little puncture on them but they are still green and fruit fly don't lay in green fruit....so I'm not sure yet.


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Can you see DW way up by the gardens? ;) I keep the grass long in our orchard to absorb spray from rain so we don't get fungal disease. It works well. Also it lets deep tap root plants thrive with aerates the soil and also lets plenty of beneficial insects thrive.

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