Search found 5052 matches

by nalor511
Wed Mar 27, 2024 5:27 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

AudrinaBurgess wrote: Wed Mar 27, 2024 5:23 pm I think Robinhood's new 3% IRA match presents an interesting proposition, especially for those looking to minimize expenses when managing their portfolio. Earning a 3% return on investment within an IRA seems attractive given current market conditions. However, it is worth considering not only the advantages, but also the possible disadvantages of this proposal. Also, having a $1,000 interest margin and a 1% fee when transferring money to Robinhood may influence your decision.
There is no such 1% fee.
by nalor511
Wed Mar 27, 2024 4:25 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

Leesbro63 wrote: Wed Mar 27, 2024 4:22 pm
nalor511 wrote: Wed Mar 27, 2024 4:10 pm
Leesbro63 wrote: Wed Mar 27, 2024 4:06 pm

Tell me more about paying federal income tax with a Paypal card to get more than 2.625% back.
You may have misunderstood, the card is chase, pay the processor via PayPal,
https://www.mymoneyblog.com/chase-freed ... ments.html
This is from 2018. Does it still work? How does paying by credit card then paying by PayPal then paying through PaytaxUSA all connect and work? Seems like a 3rd level beyond the usual two levels (paying by credit card then the processor pays the IRS on your behalf).
Yes. It takes no longer than putting in your card info.
by nalor511
Wed Mar 27, 2024 4:10 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

Leesbro63 wrote: Wed Mar 27, 2024 4:06 pm

Tell me more about paying federal income tax with a Paypal card to get more than 2.625% back.
You may have misunderstood, the card is chase, pay the processor via PayPal,
https://www.mymoneyblog.com/chase-freed ... ments.html
by nalor511
Wed Mar 27, 2024 2:34 pm
Forum: Personal Investments
Topic: Exchange FSKAX for VTI at Fidelity in taxable account
Replies: 5
Views: 405

Re: Exchange FSKAX for VTI at Fidelity in taxable account

bookgirl wrote: Wed Mar 27, 2024 2:29 pm I'm trying to simplify the number of funds I have. I have a very small amount of money in FSKAX in a Fidelity taxable account. I made a mistake buying FSKAX in taxable. I want only VTI. Should I sell FSKAX then buy VTI? Fidelity appears to give me the option to exchange. Does it matter? I've only held FSKAX a few months so I know I'll pay a bit of short term capital gains tax.

Thanks in advance!
Sell and buy will work, I believe "exchange" only lets you go to another MF, but fidelity has live chat.
by nalor511
Wed Mar 27, 2024 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Checking account: why?
Replies: 21
Views: 1263

Re: Checking account: why?

Fidelity CMA covers all my checking+savings needs, *except* for depositing cash, so I have a local CU account for that too (that I use once or twice a year).
by nalor511
Wed Mar 27, 2024 12:56 pm
Forum: Personal Investments
Topic: Webull asset transfer messed up cost basis
Replies: 2
Views: 207

Re: Webull asset transfer messed up cost basis

I had a broker that messed up my cost-basis 3-4 times, each time they would correct it, and they would mess it up again a few days later. It happens. I would work with them to correct this, and check in and make sure it stays corrected.
by nalor511
Wed Mar 27, 2024 12:03 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

TopDawgs23 wrote: Wed Mar 27, 2024 11:57 am I'm still undecided on the IRA rollover, but the credit card news brought this back to the center of my attention.

The 3% credit card cash back could be a nice bonus for many.

For example, those who makes quarterly estimated tax payments will make 1.18% on the spread between the 3.00% cashback and the 1.82% credit card processing fee charged by the IRS. Especially for self employed individuals... You're telling me I can making money paying my taxes by using this card instead of EFT from my bank account?
Yes, but, if you wait until chase freedom does a 5% paypal quarter, you can make more. Between our 4x chase cards we make $300 extra per year (gross, not counting the processing fees)
by nalor511
Wed Mar 27, 2024 11:23 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

I don't care that much about the 3% cc cash back (it'll earn me maybe an additional $25-50/yr, I don't have that much non-grocery spending on cards), but the return-protection, extended-warranty, and rental car CDW are nice features that many cards have done away with. Amex BCP ($95/yr) still has those features, so, I suspect the "paid" nature of this card/gold is why those features are present.

I *do* look forward to the 1% deposit bonus. All RH needs to do is add specific-tax-lot tracking/display, IMO
by nalor511
Wed Mar 27, 2024 12:55 am
Forum: Personal Investments
Topic: Is it possible to Exchange AAPL stock for VTSAX at Vanguard?
Replies: 9
Views: 1402

Re: Is it possible to Exchange AAPL stock for VTSAX at Vanguard?

You could sell AAPL and immediately buy VTI. If you try to buy VTSAX , there would be settlement issues, because AAPL is t+2 and VTSAX is t+1.
by nalor511
Tue Mar 26, 2024 8:03 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

"Boost is divided into 24 monthly payouts. To earn your full boost, hold or invest your brokerage deposits for 2 years. If you cancel Gold, you'll lose future payouts you haven't earned yet. Only deposits into your non-retirement brokerage account will be eligible to earn the boost. There are daily ACH deposit limits." That's not so bad. For sure, not so bad. The cash deposit rate for Gold will fluctuate and could go down by more than the boost amount. If you are investing the cash though, it may be worth it. Robinhood doesn't handle individual tax lots, so I'm somewhat reluctant to do that. They didn't mention a clawback for these types of deposits, so maybe one could just transfer out at such point. I wonder when that offer goe...
by nalor511
Tue Mar 26, 2024 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity HSA Rollover - how to deposit a check?
Replies: 4
Views: 265

Re: Fidelity HSA Rollover - how to deposit a check?

Personally I would probably use the app to do the deposit, and then live chat or call in to have it marked as a 60-day Rollover. The assistant will get you an agent if you keep saying representative, if you want to check via live chat beforehand. OR, ask fidelity directly on their official support reddit https://www.reddit.com/r/fidelityinvestments/new/
by nalor511
Mon Mar 25, 2024 2:48 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7762
Views: 1351304

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

JReality wrote: Mon Mar 25, 2024 2:43 pm Thanks. Wondering how they'll recoup the bonus if I just park in a 3-month Treasury ETF the whole time and I do adhere to the details?
They may hope that you do something that incurs commissions/fees/interest/etc. If you don't, it's just the cost of doing business, the same way that milk and eggs are often on-special at the grocerty store to get you in the door in the hopes you buy higher-profit items like chips, soda, alcohol, etc. There are tons of brokers https://www.doctorofcredit.com/best-bro ... p-to-3500/ and banks https://www.doctorofcredit.com/best-ban ... t-bonuses/ that do this. That's why this thread is 156 pages long.
by nalor511
Mon Mar 25, 2024 2:32 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7762
Views: 1351304

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I've had the Vanguard account for 5 years and never forgot to move money into the core except the one time, but it doesn't matter to Vanguard, they won't adjust the rate or offer me free bond trades to make up for being charged interest. If I were to move to TT (or another brokerage) I will only be moving cash, so I won't have to worry about cost basis. Then I would likely park the money in a 3 month T-bill ETF for 12 months unless we get a huge buying opportunity in the markets. Unless you accidentally don't leave it long enough. Or your deposit is short $1. Or you didn't click the right application link/promo-code. Or any number of other things that can happen to cost you the bonus. Just my two cents, obviously it's your call. Best of luck
by nalor511
Mon Mar 25, 2024 1:51 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7762
Views: 1351304

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Because Vanguard charged me 12.25% interest when I had forgotten (presumably) to move some money out of a Vanguard MM fund into the core account after a bond purchase, I'm thinking about moving some of the Vanguard money into Tastytrade to get a bonus. At the tier that I'm thinking of moving over, the bonus would be over 1%. Wondering how it works out profitable for TT? What if I were to just park all the funds at TT in a 3-month T-bill ETF and let it sit there for 12 months and then withdraw all (or most) of the money after the 12 months? How do they make a profit off of that? What type of trading would a typical customer need to do at TT where they actually recoup the bonus if it's over 1%? Would the customer need to be using margin and ...
by nalor511
Sun Mar 24, 2024 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gains loss carryover if you sell no stocks
Replies: 16
Views: 1258

Re: Capital gains loss carryover if you sell no stocks

salilsurendran wrote: Sun Mar 24, 2024 4:11 pm yes i find no section in tax form for 2023 where any kind of carryover is mentioned. I searched in the pdf for 3000, carry terms etc. and it doesn't exist. Is there someplace that I have to enter this. Since I have been filing using turbotax for over a decade Doesn't turbotax automatically detect that in my prior history I had losses and put that automatically in this years taxes?
It's in the capital loss carryover worksheet. You need to print the PDF and select "include all worksheets" otherwise it doesn't include them

TT does (should) track this, but it's your job to make sure. You can always amend if something was incorrect
by nalor511
Sun Mar 24, 2024 2:31 pm
Forum: Personal Investments
Topic: HSA Tax efficiency in CA
Replies: 21
Views: 1652

Re: HSA Tax efficiency in CA

Specific ID is a way of picking the specific stocks you want to sell, to minimize or maximize loss or gain, depending on what you want. FIFO is first in first out, the default way of picking the stocks that are sold and the only way to do that for some brokers like Robinhood, and the HSA brokers that I am aware of. And a wash sale is just a way of resetting the basis. So if you had $10,000 in contributions that grew to $20,000, but that year you were an Oregon resident, then you would just sell and rebuy the same things in Oregon that year and those $10,000 in gains magically disappear if and when you move back to California. Very helpful, thank you! Ah that part about residency is extremely interesting. Nice little loophole. Don't believe...
by nalor511
Sun Mar 24, 2024 12:44 pm
Forum: Personal Investments
Topic: Incorrect 1099-R from Vanguard
Replies: 24
Views: 2043

Re: Incorrect 1099-R from Vanguard

I did a conversion in 2020 at VG, and they used COB pricing (today's closing price). But they may have since changed how they do it, and they don't *have* to do it using COB pricing. Brokers have latitude in which price they use.

Schwab (2023) used instantaneous price (so, yesterday's closing price).

Fidelity (2023) used COB price (today's closing price).
by nalor511
Sun Mar 24, 2024 12:41 am
Forum: Personal Investments
Topic: Incorrect 1099-R from Vanguard
Replies: 24
Views: 2043

Re: Incorrect 1099-R from Vanguard

I've had issues with other custodians. I've had 1099s get corrected in July and Aug. You just have to stay on them until they fix it.
by nalor511
Sat Mar 23, 2024 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Unable to login to Morgan Stanley from Turbo Tax
Replies: 12
Views: 833

Re: Turbo Tax is unable to import my 1099-B of Morgan Stanley

If the cost basis was reported, you do not need to enter each sale, you can enter the aggregates.
by nalor511
Fri Mar 22, 2024 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Any downsides to the Fidelity CMA?
Replies: 25
Views: 2031

Re: Any downsides to the Fidelity CMA?

anon_investor wrote: Fri Mar 22, 2024 6:37 pm
nalor511 wrote: Fri Mar 22, 2024 6:19 pm
TomatoTomahto wrote: Fri Mar 22, 2024 6:11 pm The bank takes forever to clear deposits. The only payment I have bounced in probably 50 years. They said that they couldn’t do anything about the 7 day hold (with multi 7 digit assets at Fidelity) because the bank was a separate entity.

I no longer use the CMA account.
I only had this issue when my account was new. Now my deposits clear in 1 day
+1
Sounds like Tomato didn't give it much of a chance, they started clearing my deposits in 1 day pretty quickly actually
by nalor511
Fri Mar 22, 2024 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Any downsides to the Fidelity CMA?
Replies: 25
Views: 2031

Re: Any downsides to the Fidelity CMA?

radiowave wrote: Fri Mar 22, 2024 7:02 pm I've got a big pot of change sitting in my dresser, probably about 100 cash, can't get that deposited, but BoA stopped change deposits for individual accounts before Covid so not much I can do except go to the grocery store and pay the 12%.

Coinstar machine at Safeway, no fee to redeem as Amazon GC
by nalor511
Fri Mar 22, 2024 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Any downsides to the Fidelity CMA?
Replies: 25
Views: 2031

Re: Any downsides to the Fidelity CMA?

TomatoTomahto wrote: Fri Mar 22, 2024 6:11 pm The bank takes forever to clear deposits. The only payment I have bounced in probably 50 years. They said that they couldn’t do anything about the 7 day hold (with multi 7 digit assets at Fidelity) because the bank was a separate entity.

I no longer use the CMA account.
I only had this issue when my account was new. Now my deposits clear in 1 day
by nalor511
Fri Mar 22, 2024 12:53 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

I guess my second point there is more controversial. I always have a hard time believing anything is a once-in-a-lifetime deal. There will be more deals in the future. Maybe not as good, but close enough. As for Fidelity/Vanguard offering one, no one really knows. They want your business too. If they can offer a deal where they will lock you up for a long time, I can imagine they will be creative. Vanguard has never offered brokerage bonuses, to my knowledge. The obvious response is Vanguard never used to offer free trades and now they do. I wouldn't be surprised either way (they offer bonuses in the future or not). If this is successful for RH, I also wouldn't be surprised if they offered it again. Who knows, maybe I'll change my mind in ...
by nalor511
Thu Mar 21, 2024 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Failed to take RMD for Inherited IRA in 2023- what next?
Replies: 7
Views: 591

Re: Failed to take RMD for Inherited IRA in 2023- what next?

marcopolo wrote: Thu Mar 21, 2024 4:43 pm
nalor511 wrote: Thu Mar 21, 2024 4:36 pm You can take them any time you want before 10yrs are up, and you owe taxes the year you take the withdrawal. You need to take it to $0 by year 10
I thought that if the deceased had started RMDs (as is the case here), then the heir(s) had to take them as well in years 1-9.
Ah ok, I missed that part of the OP, thx for correcting
by nalor511
Thu Mar 21, 2024 4:27 pm
Forum: Personal Investments
Topic: ACATs timing question with t+2
Replies: 4
Views: 266

Re: ACATs timing question with t+2

mbouck wrote: Thu Mar 21, 2024 4:21 pm ACATS is slow - plan on 5 business days minimum. T+2 is moving to T+1 in May BTW.
Yes I'm not concerned about the acats being slow, I'm trying to not have it rejected due to the unsettled share. Wanting to get my transfer request entered as soon as I can, to get it off my plate, and wondering when that will be
by nalor511
Thu Mar 21, 2024 4:16 pm
Forum: Personal Investments
Topic: ACATs timing question with t+2
Replies: 4
Views: 266

ACATs timing question with t+2

I bought a share of an ETF today. The settlement date (t+2) is Monday, but what time Monday?

If I want to transfer that share out to another broker, when should I put in the transfer request, such that it doesn't fail due to the share not yet having settled? Thanks
by nalor511
Wed Mar 20, 2024 9:16 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

:sharebeer
Lyrrad wrote: Wed Mar 20, 2024 8:14 pm
nalor511 wrote: Wed Mar 20, 2024 5:14 pm If you withdraw before 5yrs, or cancel Gold before 1yr, you lose 2/3 of that bonus.

The Terms answer all your questions. https://robinhood.com/us/en/support/art ... atch-2024/
I think you lose the entire bonus if you transfer out within 5 years ("IRA Match Early Removal Fee").
If you cancel Gold before one year, you lose of 2% of the 3% bonus ("Gold Cancellation IRA Match Removal Fee").

While the Terms and Conditions and the Help Center article say you only need to remain "a Robinhood Gold subscriber for 1 year after the first deposit that earns the 3% match," my Gold account page says I need to remain a subscriber for a year since the most recent match.
:sharebeer
by nalor511
Wed Mar 20, 2024 6:53 pm
Forum: Personal Investments
Topic: Financial Adviser and Investment Adviser at Schwab
Replies: 9
Views: 1077

Re: Financial Adviser and Investment Adviser at Schwab

Schwab doesn't do consumer HSA, I don't believe, you'd want Fidelity for a consumer HSA with zero fees
by nalor511
Wed Mar 20, 2024 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: ISO stock options - confused
Replies: 11
Views: 705

Re: ISO stock options - confused

If you face amt, you face it regardless which of the 3 methods you choose, don't you?
by nalor511
Wed Mar 20, 2024 5:47 pm
Forum: Personal Consumer Issues
Topic: Bought a new Lexus - can't get a second key for 3-5 months???
Replies: 54
Views: 6115

Re: Bought a new Lexus - can't get a second key for 3-5 months???

leeks wrote: Wed Mar 20, 2024 5:35 pm
nalor511 wrote: Wed Mar 20, 2024 3:43 pm If the dealer and corp both told you to wait, then you very likely will have to Wait. You could Ask for $ for your inconvenience, but they can't speed this up or they already would have
Surely if the owner lost the only key, they would have some solution to get one right away even if very expensive. It can't be impossible to make sooner.
Yeah they would charge you retail price. Free has to wait. It's a car dealer.
by nalor511
Wed Mar 20, 2024 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Tax software suggestions?
Replies: 22
Views: 1226

Re: Tax software suggestions?

gunny2 wrote: Wed Mar 20, 2024 5:37 pm
nalor511 wrote: Wed Mar 20, 2024 5:34 pm ALL tax software needs your SSN.
Not just to log in they don't. I'm not talking about needing it when I fill out the form.

I don't get needing my DOB either...(HR Block is asking this).

Don't mean to sound skittish, but having been a victim of identity theft, I'm very (very) cautious about giving out such info.
If you don't trust tax software with your SSN then your only option is to do it yourself on paper or free fillable forms (which is run by olt.com anyway). I don't see the problem.
by nalor511
Wed Mar 20, 2024 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Tax software suggestions?
Replies: 22
Views: 1226

Re: Tax software suggestions?

ALL tax software needs your SSN. Your SSN is not your login, and if it is, you're doing it wrong.

Freetaxusa is the easiest cheap option and costs $15, and I think amending is extra. OLT.com is the cheapest option with the most forms and coats $9.95 with free amending
by nalor511
Wed Mar 20, 2024 5:14 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

Can someone explain the situation to me please. ...what would I get for the $500k transfer from Schwab to Robinhood. Also, can the transfer be in-kind or do I have to sell the equities and transfer cash? The transfer from Vanguard to TD was in-kind and that really helped. Is there withdraw or early penalty or any fees paid to IRS or Robinhood, beside the Gold membership, for this transaction? Transfer in kind, no selling. You'll get a 3% bonus, just like everyone Else. You'll pay for gold for a year. RH has a $100 transfer-out fee you'll pay in 5yrs if you leave. If you withdraw before 5yrs, or cancel Gold before 1yr, you lose 2/3 of that bonus. The Terms answer all your questions. https://robinhood.com/us/en/support/articles/ira-gold-matc...
by nalor511
Wed Mar 20, 2024 4:15 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

privateID wrote: Wed Mar 20, 2024 4:14 pm Is the 3% match worth more for Roth IRA accounts? Given that the match is being put into the IRA and considered interest on the account (so doesn't affect contribution limits), it seems to me like you will keep the whole match plus growth in a Roth IRA but only keep the amount minus eventual taxes in the trad'l IRA account. Do I have that right?
Tax free is worth more than "taxed eventually", yes.
by nalor511
Wed Mar 20, 2024 3:43 pm
Forum: Personal Consumer Issues
Topic: Bought a new Lexus - can't get a second key for 3-5 months???
Replies: 54
Views: 6115

Re: Bought a new Lexus - can't get a second key for 3-5 months???

If the dealer and corp both told you to wait, then you very likely will have to Wait. You could Ask for $ for your inconvenience, but they can't speed this up or they already would have
by nalor511
Wed Mar 20, 2024 12:25 pm
Forum: Investing - Theory, News & General
Topic: ACATS and cost basis
Replies: 4
Views: 549

Re: ACATS and cost basis

RH is indeed supposed to request it, if it doesn't happen properly. It takes a week after the assets transfer
by nalor511
Tue Mar 19, 2024 5:14 pm
Forum: Personal Consumer Issues
Topic: free YAHOO e-mail lock-up
Replies: 10
Views: 1060

Re: free YAHOO e-mail lock-up

Your two choices are to 1. pay for yahoo premium support and possibly get some help, or 2. don't, and you're out of luck if the free recovery tool doesn't work https://help.yahoo.com/kb/SLN2044.html

I lost an account 10 years or so ago and have had zero luck getting it back, but I did not pay for support. I moved on with my life.
by nalor511
Tue Mar 19, 2024 4:52 pm
Forum: Personal Investments
Topic: Insurance Co attempting to change terms of contract
Replies: 20
Views: 2411

Re: Insurance Co attempting to change terms of contract

At this point I would be complaining to my state's insurance board, as it's been months, and their position hasn't changed
by nalor511
Tue Mar 19, 2024 4:27 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7762
Views: 1351304

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

czaj wrote: Tue Mar 19, 2024 4:23 pm
nalor511 wrote: Tue Mar 19, 2024 4:13 pm They probably mean funds on non-us exchanges or in non-usd
I see, yes I hope that would be true. Basically international fund ETFs that trade on US exchanges should be considered domestic ETFs to HSBC fee schedule.
Yes.
by nalor511
Tue Mar 19, 2024 4:13 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7762
Views: 1351304

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

They probably mean funds on non-us exchanges or in non-usd
by nalor511
Tue Mar 19, 2024 1:16 am
Forum: Personal Investments
Topic: Transfer HSA funds
Replies: 1
Views: 405

Re: Transfer HSA funds

FENDERSTRYKER75 wrote: Mon Mar 18, 2024 11:20 pm Hello,
My employer offers a HSA through HealthEquity. Unfortunately, the agreement between the employer and vendor states that I cannot invest the money until my balance is $2000. I also have a personal HSA through Fidelity. My employer states that I don't have to hold funds in the HealthEquity account. Any reason from a financial perspective, why I can't contribute to my employer's HSA, and then transfer out every month or two? I'm checking to see if there are any transaction fees with rollouts to my Fidelity HSA, which would also maybe answer my question.
Many people do this.
by nalor511
Mon Mar 18, 2024 11:18 am
Forum: Investing - Theory, News & General
Topic: Questions on 1099-B (ratable discount for treasuries sold prior to maturity)
Replies: 17
Views: 2874

Re: Questions on 1099-B (ratable discount for treasuries sold prior to maturity)

ginahoy wrote: Sun Mar 17, 2024 11:20 pm
nalor511 wrote: Sun Mar 17, 2024 1:14 amThe IRS could ask for your 1099... do you really want to have something be technically reported wrong... I wouldn't. The IRS knows how to calculate ratable share.
If the gain is reported as interest on Sch B, the IRS would have no visibility to any of the other info required to do the ratable discount calculation. Right?
The IRS could easily want to see your copy of the 1099 for any number of reasons, which has the info to calculate ratable share. It will probably never be a problem. But having something done "wrong", for very little reason, invites more scrutiny
by nalor511
Mon Mar 18, 2024 11:16 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1543
Views: 119199

Re: Robinhood 3% IRA Match

moneytree wrote: Mon Mar 18, 2024 8:54 am
nalor511 wrote: Fri Mar 15, 2024 8:28 pm I had to get two accounts manually approved by the 'margin team'. It helps offset the gold fees. I am glad to have it, but if it had been more than about 10min of extra work to get it approved, no biggie
What did you say to get reviewed by the "margin team"?

The customer chat reps just parrot generic responses from a chat script without offering any resolution.
The first one I just asked for them to please fix it. The second one I had to ask for a manual review, which they kept denying existed, then asked for a supervisor, and the next morning it was fixed.
by nalor511
Sun Mar 17, 2024 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Unable to mobile-deposit a check at Fidelity
Replies: 4
Views: 534

Re: Unable to mobile-deposit a check at Fidelity

investor4life wrote: Sun Mar 17, 2024 8:05 pm I entered routing and account numbers and was take to a screen to enter bank login info. Seems to be no way to avoid that. Are you saying I should intentionally fail the bank login test and will then be taken to a screen with some alternative approach (micro deposit?)
Yes that is what I did. But I also read that you didn't need to do that anymore. But it worked for me. Again, web, not app
by nalor511
Sun Mar 17, 2024 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Unable to mobile-deposit a check at Fidelity
Replies: 4
Views: 534

Re: Unable to mobile-deposit a check at Fidelity

If you use the web, you can enter your account and routing. At one time you had to fail the user/pass twice or three times before account/routing would pop up, but I think they let you enter it directly now, if you select "enter myself". You do not need to enter user/pass to link a bank to Fidelity.

Money transfer lockdown does not block check deposits
by nalor511
Sun Mar 17, 2024 1:14 am
Forum: Investing - Theory, News & General
Topic: Questions on 1099-B (ratable discount for treasuries sold prior to maturity)
Replies: 17
Views: 2874

Re: Questions on 1099-B (ratable discount for treasuries sold prior to maturity)

deejay77 wrote: Sun Mar 17, 2024 1:02 am FactualFran, you are correct.

My argument is that we should keep things simple when the current system is not doing the math for us. Simply report all of it in a new manual 1099-INT box 3. IRS doesn't even see the sale, so they have no basis to object to the extra tax paid using a 1099-INT that they didn't see.
The IRS could ask for your 1099 on an unrelated (or related) matter, do you really want to have something be technically reported wrong to have $20 shifted from cg to int? I wouldn't. The IRS knows how to calculate ratable share. I do my ratable share calculations on a spreadsheet, and save it, just in case
by nalor511
Sat Mar 16, 2024 8:40 pm
Forum: Investing - Theory, News & General
Topic: What is the appeal of Robinhood
Replies: 85
Views: 6510

Re: What is the appeal of Robinhood

...They claim to be [SIPC] so I'll look over [SIPC] to see if they are... (I think Robinhood is a Bad Thing, but...) ...with regard to SIPC, Robinhood is big enough and conspicuous enough and has been around long enough that it is inconceivable that they would be lying about it and would not have been caught. When they fibbed about their "savings accounts" and "checking accounts" being "insured by the SIPC" they were caught within less than two days, I think the financial news was quoting the SIPC chair as saying they weren't on the very next day. But it's easy enough to check. SIPC List of Members All registered brokers or dealers are SIPC members by law, with some exceptions. ... ROBINHOOD FINANCIAL LLC LAKE...
by nalor511
Sat Mar 16, 2024 8:26 pm
Forum: Investing - Theory, News & General
Topic: What is the appeal of Robinhood
Replies: 85
Views: 6510

Re: What is the appeal of Robinhood

Wasn't it the first to offer free trades? I signed up early on with some "fun money" and bought and sold individual stocks when I had the time simply because the trades were free and I think everyone else was $5. I think all the trades now that are free are because of Robinhood. Don't forget that Robinhood's offer of free trades was all a lie. They advertised zero commissions on the front end but then secretly collected bribes for order flow on the back end to cheat their customers, lying to them about it all. Robinhood paid millions in fines to the SEC for their lying and cheating. Doesn't Schwab do the same thing? And Fidelity? I was under the impression that the only popular brokerage that didn't do that, and didn't make a sig...