Bogleheads.org

I think you are confusing the roles of a customer service at a brokerage vs a financial advisor or even a fund manager. You called Vanguard the brokerage. Are you paying Vanguard for their PAS service and have a dedicated financial advisor to answer such deep technical questions?

He will need to use the excess contribution return process by the HSA provider for all 2022 contributions and their associated gains. That's what the form is for. You will pay a 6% penalty for every year that you leave the money in the HSA - so yes, it needs to be removed now.

I would search for the topic of does 401k count for wash sales up in the search box (and HSAs for the matter) and read until you pass out. It's a huge debate. Myself, like most believe they do not count for wash sales. But I won't rehash all the arguments, just read the old threads.

The old bury your head in the sand mentality. As long as I don't look it hasn't lost money, aka "paper losses".

Use the search box.

MadHungarian wrote: ↑Mon Mar 27, 2023 3:18 pm Hmm, well i have a 2009 Forester with even lower mileage -- it spend most of its time sitting in my garage and only comes out once / week these days, thus the low mileage.
So i guess i should be thinking about this too!

Yes, you are way overdue. These do fail on time and mileage.

fsrph wrote: ↑Mon Mar 27, 2023 11:51 am Asked independent garage I've used many times for recommendations on my timing belt. Car only has 52k miles but is a 2010 model.

They recommended changing it due to age. They would also replace all pullies, tensioner and water pump. Will inspect cam seals, radiator hoses and serpentine belt and replace only if needed.

They wanted to use a Gates TB kit. I told them I preferred Aisin. Said OK but the Aisin kit costs a bit more. Advisor said they make great products and he uses them on his Toyota. Price using Aisin $850-$900. Called local Subaru dealer, about $1400 to replace TB plus pullies, tensioner and water pump.

Francis

Sounds like you are getting good advice.

You should really research about tax loss harvesting. Holding until it breaks even is really poor advice. Please read the BH wiki on Tax Loss Harvesting- https://www.bogleheads.org/wiki/Tax_loss_harvesting. Your decision to hold a losing ETF (FSMAX) instead of realizing the loss & re-investing the money in FSKAX is wasting the value of your loss. If you sell FSMAX & re-invest into FSKAX, your money will still climb back towards a breakeven point & beyond, but you will have gained the ability to use the loss to deduct about $1200 off your income taxes next April. Assuming you're in the 22% tax bracket, that deduction will save you about $265 in taxes while you remain fully invested in the market. Win-win. Since when did Boglehea...

Continue to hold FSMAX until you break even, but direct all new contributions to FSKAX and FTIHX. Once FSMAX arrives back at your cost basis, exchange it for FSKAX. In this way, you avoid taking a loss, regardless of the alternative outcome. [/list] Ultimately, this is a great exercise in investor psychology. Working through this today is going to save you a lot of headaches in the future. This is what I've opted to do: I'm going to hold FSMAX until it breaks even (which will eventually happen, unless something apocalyptic happens), and then dump it into FSKAX. Distributions have been directed to FSKAX as well. If I believe in the market as a whole, then it stands to reason that I should also believe in the market in part, as this fund hol...

For a Subaru follow it exactly. If a shop tells you you don't need to change then you need a new shop.

theplayer11 wrote: ↑Sun Mar 26, 2023 11:14 am

grabiner wrote: ↑Sun Mar 26, 2023 9:44 am One non-math issue: why is the dealer doing this? A 2023 truck would normally command a premium of more than $1000 over a 2022 truck that has already been driven 5000 miles. Is the new truck possibly a lemon?

selling to Carvana, not the dealer. In 2021 I bought a new Tacoma in June and sold to Carvana 3 months later for a $3k profit, lol.

How about sales tax or your state equivalent?

Cecelio wrote: ↑Sat Mar 25, 2023 11:07 am Will you receive pay for mileage? A $0.60 business mileage deduction does not equate to receiving $0.60 in pay for every mile drive. It is probably closer to $0.20.

Can you explain what you mean in more detail?

I do a partial transfer from payflex and pay no fees. Try it one time and see if they charge you a fee.

For $2000 I would choose do nothing. Your tax program will handle the tax situation. You will be taxed again when you withdraw the money in retirement. It's not worth the trouble to pull the money out.

So just get term insurance. You are over thinking this. Unless you like wasting money.

Well, you can not just correct the basis as reported on a 1099 on your taxes. You must give the broker in writing the instructions for the specific shares that you are selling and have documentation of the basis for the specific shares that you sold. Some brokers like Schwab only let you change the cost basis method within 1 year of purchase or you are locked in average cost.

faanger101 wrote: ↑Thu Mar 23, 2023 1:37 pm Hard no. I help our society to stop the over-tipping spread

Agreed. I find the idea completely absurd.

Are people fearful right now?

I started the year with an employer which front-loaded my HSA with a $1200 employer contribution. I then proceeded to make per-paycheck contributions which put me on track to max out the HSA for the year. However, I then changed jobs in August and so I believe that employer contribution was more than allowed (instead only about 7/12 of that contribution was allowed), leaving me an overcontribution of about $700 (FreeTaxUSA says $696). FreeTaxUSA says: You may withdraw some or all of Brad's 2022 excess contributions and they will be treated as if they had not been contributed if: (1) You make the withdrawal by the due date, including extensions, of your tax return, and (2) You also withdraw any income earned on the withdrawn contributions a...

Is it possible your dad received two checks that total to the amount on the Form 1099-R? Asking the issuer to explain the amounts and to correct, if necessary, the Form 1099-R is the appropriate first step. If you believe it is incorrect and the issuer does not issue a timely corrected Form, read this IRS Tax Tip for guidance: https://www.irs.gov/newsroom/what-to-do-when-a-w-2-or-form-1099-is-missing-or-incorrect#:~:text=Taxpayers%20may%20need%20to%20file,U.S.%20Individual%20Income%20Tax%20Return. No, he only received one check. I actually dealt with Equitable on this in 2022 because my dad is elderly and cannot hear well on the phone. They had my dad verify that I was authorized to act on his behalf. Yesterday and today I explained what t...

I have payflex and Fidelity HSA. I do a pull from Fidelity (account transfer), leaving some money (I leave $500) in the payflex account so that it doesn't close. Doing it this way there are no fees. It can take about 3 weeks or so for the transfer. This is very helpful as I’m also interested in avoiding fees. Is there a limit to how many times I can do this in a year and still avoid fees? I’m expecting I’d do this about 3 to 4 times per year if it’s free. I don’t mind the three week delay, I’ll just time when the market is about to drop before I initiate the transfer :mrgreen: How do you pull from fidelity, must I call them or is there a way to do this online? I am not aware of any limit to the # of times you can do this direct transfer pr...

I have payflex and Fidelity HSA. I do a pull from Fidelity (account transfer), leaving some money (I leave $500) in the payflex account so that it doesn't close. Doing it this way there are no fees. It can take about 3 weeks or so for the transfer.

Can you list the name of some of the funds? Most likely these are called Collective Investment Trusts (CITs). You can use the search bar to understand more.

Whole life is just bond like return. No lipstick on the pig makes it better than that. What is your asset allocation?

Whole life itself does nothing for your estate tax.

I'm wondering if you've actually researched whole life on here. You don't need another thread just to explain why people are so negative against it. There are hundreds of threads explaining while it's junk. Regardless if you are lucky all you get are the return of bonds. Is that what excites you? Not me. Bonds are for safety. Their return sucks.

Use the search box.

Loon11 wrote: ↑Sun Mar 19, 2023 2:14 pm is this really a threat? Doesn't SIPC kick in? I transferred the bulk of my tsp into schwab for the 1K promotion and its done well in swvxx but reading this, makes me worry. It's 500K and don't want to worry about it. Is the treasury money market really safer? This is in an ira - do they charge to move it?

There is no charge to exchange between funds. SIPC doesn't really protect you here, that is more for fraud. They guarantee that if you bought 1 share you really have 1 share. Whether that share has any value is not protected. Don't forget the treasury fund would be state tax free potentially cutting the difference in yield between the two funds.

ekid wrote: ↑Sat Mar 18, 2023 1:04 pm "You will need to initiate a transfer from Fidelity to your current HSA."

Whut?

This should probably read; You will need to initiate at Fidelity a transfer from your current HSA.

Thanks. Much better worded. I edited my post.

Stillwater1971 wrote: ↑Sat Mar 18, 2023 11:09 am

Nate79 wrote: ↑Sat Mar 18, 2023 10:44 am Those fees are high. No need to pay 0.5%, just do a transfer periodically to Fidelity.

I was just looking at Fidelity just now. It looks like Fidelity does not charge any extra fees(except for expense ratios), is this correct? but there appeared to be a "Bookeeping Fee" that is charged to the employer? I don't know if that would be passed down to me since my employer doesn't use Fidelity? And that's assuming there is a fee for it?

Fidelity personal HSA has no fees at all. You can open this on your own, it has nothing to do with your employer. You will need to initiate a transfer at Fidelity to transfer money from your current HSA to Fidelity.

Those fees are high. No need to pay 0.5%, just do a transfer periodically to Fidelity.

Danw wrote: ↑Tue Mar 14, 2023 11:23 am I haven’t changed to a brokerage account for two reasons. I want my Roth conversions to happen the same day and not have to pass through a settlement account. I like being able to direct dividends directly from one fund to another. If I had to pay the $20 fees I would feel differently.
I’ve been thinking of opening a separate brokerage account to buy treasuries but will probably stick with the Treasury Money Market fund.

Vanguard should learn from your reasons and turn those options off because we see them often enough on here they are keeping people on the mutual fund platform. Get with it Vanguard.

Wow. You might want to message Alan S. to comment on your question.

You need a new tax provider as they are incompetent.

Not sure why you think you will have an early withdrawal penalty. Did you do a withdrawal?

Nope the issue from a basic 101 economics perspective is that the risk is being mitigated by the Government. You mess up worth millions of dollars you should suffer the consequences. The Govt stepping in is a get out of jail free card with zero consequences. The modern banking system is inherently fragile because of the manner it operates with limited to no safety net other than the government. That is why the partial repeal of the Dodd-Frank act was such a mess. If bankers and capitalists want the government to step in when they make a royal mess of everything, then a consequence is jail time. Those SVB shareholders and bond holders would disagree with the idea they had zero consequences And yes did any of them make the decisions? Nope. T...

I must not hang out in the right places -- I haven't hard any screaming about "well-connected woke investors". Scroll back some pages and you'll see folks screaming about "moral hazard," that this as a bailout of coastal elites, and and posts blaming SVB failure on ESG policies. Here's one: https://www.bogleheads.org/forum/viewtopic.php?p=7163758#p7163758. Events like this seems to have a way of bringing out the alarmist zero hedge crowd eager to grind their ax. Nope the issue from a basic 101 economics perspective is that the risk is being mitigated by the Government. You mess up worth millions of dollars you should suffer the consequences. The Govt stepping in is a get out of jail free card with zero consequences. The...

Opened a Vanguard brokerage account May 2022, but have had a Roth IRA with Vanguard for over a decade. Pulled some money into Vanguard from my CFG Bank account mid-February (the last ACH from a bank to Vanguard), which were all used to purchase VUSXX. Still had money in settlement fund from other banks that were used to purchased tbills and brokered CD that later matured. Tried to move money from Vanguard settlement fund to Fidelity brokerage account on March 10, 2023, but was blocked online because of new account restrictions. Tried to move even $100 out from my settlement fund to each bank linked to my Vanguard brokerage account, and all attempts (with the exception of CFG) gave me the following error. The shares you’re trying to redeem ...

Just buy treasuries if you are worried about this.

I had a rental property that I sold in 2022 for a profit. I rented it for 4 years 4 months and lived in it the last 5 years and 11 months. Married filling jointly My question is am I able to exclude all the capital gains or only a percentage? I have been reading the IRS tax laws for capital gains exclusions on rental property but I can't find an exact answer. I called the IRS to get guidance but was on hold forever, after going thru all the phone tree. Thanks for any guidance to specific IRS publications We looked at this recently to help out a friend. Our understand wast that you'd still report the sale on your tax returns but since you lived in the home for at least 2 out of the last 5 years and it was your primary home, and you had not ...

... Ok, so it appears there is a portion of time (undetermined) where my investment would be out of SWVXX and not yet in SNSXX (and thus imo, at more risk than just keeping it in SWVXX). So I guess I'll just stay put (for now). When dust settles, I'll move and have learned a valuable lesson... not to chase an extra .15% in yield (because doing so puts me in a Prime Money Market Fund rather than a Trreasury one) which is likely not worth the risk. Do note that even while your "cash" may be in "cash" form held by the brokerage (in between the sweep process into a money market fund), it is still segregated from other assets of the brokerage, and should be returned to you even if the brokerage failed, and in the event that ...

I would, for sure, be thinking along the same lines. Someone put together a list of 10 banks that are closest to failure. Ally bank is on the list. Even if 100% of the money is under FDIC, I still don't want to be in a failing bank. It's a mess and a headache to deal with that. Check your bank's ratings online and see if it gets an A or B. Also, see if you're getting a decent rate. SVB had a bank run because they had terrible rates and people woke up and decided to move to a bank that pays decently. Some banks, such as Merchants Bank of Indiana, have a program that can FDIC insure up to $100 million by sweeping to other banks in the program. It pays 4.34% right now and it goes up shortly after the Fed raises rates. As far as moving to Vang...

Just don't sell them before maturity before you understand the tax implications.....

You don't need to sell everything in one tax year. You could take the mortgage, and then sell from taxable split between multiple years if it can help manage the taxes.

8foot7 wrote: ↑Tue Mar 07, 2023 5:20 pm Wow, lots of folks demonstrating a lack of backbone here. As consumers we shouldn’t tolerate company representatives giving us false information at point of sale and refusing (or being unable to) correct it.

What you call lack of backbone others call having ethical behavior.

Just chat with them and see why it didn't execute. Oh, wait, it's Vanguard. Maybe try smoke signals instead.

Would you borrow at 6.5% to invest in the stock market?

They do not just use Schwab funds. In fact some are from Vanguard. Here is the list:
https://intelligent.schwab.com/page/gui ... -text-2841

Sorry OP, you are wrong. The charge is correct and you owe it. You should pay the charge and move on. If you want this type of benefit in the future then you don't rent through a 3rd party.

mhalley wrote: ↑Thu Mar 02, 2023 10:54 pm Your Hsa company will have a procedure to remove excess contributions plus earnings.
https://smartasset.com/retirement/hsa-e ... tributions

+1 this is the correct answer. The contributions plus earnings must be removed correctly.

My employer HSA is Payflex. I keep some cash in it to keep it open and can act as an emergency fund. As cash builds up from paycheck contributions about once a quarter I do an account transfer initiated from Fidelity. I transfer some, but not all of the cash. It takes about 2 weeks and from Fidelity its pretty simple (all done online, just a few questions to answer and attach a recent statement). I don't transfer all cash so there is no risk of Payflex closing the account. I do this because there is a fee charged by Payflex to invest whereas Fidelity is free. There is no charge by Payflex to do such a transfer. Pretty easy process. Thanks! This is really helpful because it’s exactly what I plan to do. I will use Fidelity for investments an...

My employer HSA is Payflex. I keep some cash in it to keep it open and can act as an emergency fund. As cash builds up from paycheck contributions about once a quarter I do an account transfer initiated from Fidelity. I transfer some, but not all of the cash. It takes about 2 weeks and from Fidelity its pretty simple (all done online, just a few questions to answer and attach a recent statement). I don't transfer all cash so there is no risk of Payflex closing the account. I do this because there is a fee charged by Payflex to invest whereas Fidelity is free. There is no charge by Payflex to do such a transfer. Pretty easy process. Thanks! This is really helpful because it’s exactly what I plan to do. I will use Fidelity for investments an...