Search found 3473 matches

by SlowMovingInvestor
Thu Mar 28, 2024 8:52 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I'm not sure if it's available to the general public, or only to existing WeBull customers, but I received an email promo notice from WeBull for a 4.5% IRA transfer bonus

Between 2/27/2024 12:00 AM ET – 4/30/2024 11:59 PM ET, get 3.5% match by contributing or transferring funds into your Webull IRA. Amp up your match to 4.5% by *successfully referring a friend to open a Webull IRA. Your referral can receive up to 4.5% match on their contributions and/or transfers as well!

I think this would make it the best WeBull promo bonus so far. I'm not sure how/if the general public can get access to it, but those who have accounts should check their mailboxes.
by SlowMovingInvestor
Sun Mar 24, 2024 2:07 pm
Forum: Investing - Theory, News & General
Topic: Taxation of Treasury bills, notes and bonds
Replies: 1078
Views: 157262

Re: Taxation of Treasury bills, notes and bonds

A data point about entering Accrued Market Discount for State tax filing. I'm using TurboTax 2023 Home&Business. I bought 2 Treasury bonds on secondary market and held to maturity. Fidelity 1099B reports the difference between purchase price & par as AMD. TT offers two ways to enter 1099B. The 'summary' approach won't work for AMD. So I entered the numbers for trades one by one. There is a button you could select to enter AMD to box 1F. Then TT will report capital gain = 0 on form 8949, and AMD as interest income on Schedule B. So no dummy 1099-INT needed. However, the State tax part doesn't treat this AMD as government obligations and charge me state tax (I'm a CA resident). When I played State Tax part, there is a radio 'Interest...
by SlowMovingInvestor
Tue Mar 19, 2024 11:59 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

FYI i noticed today that it looks like the cash in my WeBull Margin account is earning 5% interest How does one figure out whether the cash in a WeBull Margin account is earning interest? Do I have to wait till the end of the month? Click on cash management banner. It has daily accrual In my case, it shows that only for the 'cash account', not for the 'margin account'. The Margin account isn't even an option in cash management account selection (only my IRA and cash account). I don't think margin accounts have their cash management feature. It requires their omnibus account which is cash only. That's what I thought too, but one of the posters above indicated differently. spacecadet610, if you read this, do indicate how/if it's possible to ...
by SlowMovingInvestor
Tue Mar 19, 2024 11:47 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

pm5987 wrote: Tue Mar 19, 2024 4:20 pm
SlowMovingInvestor wrote: Tue Mar 19, 2024 10:42 am
spacecadet610 wrote: Wed Mar 13, 2024 10:53 am
FYI i noticed today that it looks like the cash in my WeBull Margin account is earning 5% interest
How does one figure out whether the cash in a WeBull Margin account is earning interest? Do I have to wait till the end of the month?
Click on cash management banner. It has daily accrual
In my case, it shows that only for the 'cash account', not for the 'margin account'. The Margin account isn't even an option in cash management account selection (only my IRA and cash account).
by SlowMovingInvestor
Tue Mar 19, 2024 10:42 am
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

spacecadet610 wrote: Wed Mar 13, 2024 10:53 am
FYI i noticed today that it looks like the cash in my WeBull Margin account is earning 5% interest
How does one figure out whether the cash in a WeBull Margin account is earning interest? Do I have to wait till the end of the month?
by SlowMovingInvestor
Wed Mar 13, 2024 10:38 am
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

spacecadet610 wrote: Tue Mar 12, 2024 10:06 pm
You could put your cash in a WeBull Margin account and buy a cash equivalent ETF like SGOV which would match the high yields seen elsewhere.
That's a great suggestion.

I normally don't buy MM like ETFs because I don't like the idea of keeping track of cost basis for some ETFs (even if the cost basis changes are minimal). How well does WeBull keep track of cost basis, or do I have to do it manually? My WeBull account is an IRA, so I haven't bothered to see how well their software tracks cost basis.
by SlowMovingInvestor
Tue Mar 12, 2024 9:59 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

I believe the 2% cash bonus is only for the margin WeBull account. It's unclear to me whether the cash in a margin account gets the 5% APR interest. I do know that the cash in a WeBull cash account gets the 5% interest rate. I've been ignoring WeBull promo emails until right now, so I missed the brokerage account (3% on ACAT, 2% on cash transfer) bonus. I'm not really interested in transferring securities right now in any case. But I could be interested in transferring cash for some quick extra interest. Questions 1) The bonus T&C seems to imply the transfer has to be completed by March 15th, which wouldn't work with ACH. I'm reluctant to do a wire. Would an ACH initiated before the transfer starts be valid? I know in the past, WeBull ...
by SlowMovingInvestor
Tue Mar 12, 2024 8:48 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 54
Views: 6135

Re: [Webull 3% Offer]

I've been ignoring WeBull promo emails until right now, so I missed the brokerage account (3% on ACAT, 2% on cash transfer) bonus. I'm not really interested in transferring securities right now in any case. But I could be interested in transferring cash for some quick extra interest. Questions 1) The bonus T&C seems to imply the transfer has to be completed by March 15th, which wouldn't work with ACH. I'm reluctant to do a wire. Would an ACH initiated before the transfer starts be valid? I know in the past, WeBull has said that transfers initiated before end of bonus period qualify even if the transfer is not completed by the end of the period. 2) As I understand it, cash accounts pay around 5% (upto 100k) and the cash is FDIC insured. ...
by SlowMovingInvestor
Thu Feb 15, 2024 8:33 pm
Forum: Personal Consumer Issues
Topic: Color or Black & White Printer
Replies: 32
Views: 2373

Re: Color or Black & White Printer

My last few home printers have been low end B&W/Color Canon Printer/Scanner/Copiers. I don't use the color feature much, but it did occasionally come in useful in the event I needed a copy of travel docs or the like in a hurry. The major cost was cartridges, not the printer. But these days I can keep an emergency backup of a travel doc on my phone. Other docs can be copied/printed at a print store. I'm not sure how long it takes for a color cartridge to dry out (I don't remember ever unexpectedly running out of color ink), but it may possibly make sense for me to get a pure B&W next time (with the caveat that I may still have enough ink left my cartridge if my printer dies that it's cheaper to get a compatible printer brand!). It de...
by SlowMovingInvestor
Fri Feb 09, 2024 8:44 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1551
Views: 119738

Re: Robinhood 3% IRA Match

has there ever been a point where clients lost money from IRA when a broker fails? I'm wanting to go over the SIPC amount (currently slightly over) but wanted to go a bit further. Well yes, see for example Bernard L. Madoff Investment Securities LLC Robinhood is publicly traded. Also, RH has a big 4 auditor. Madoff had a 2 person storefront firm as an auditor. Also, I think few people really lost what they had invested in Madoff's case. They lost phantom/fictional gains. Not much consolation, but it is a distinction, That being said, I would not personally agree to a 5 year lockdown of assets in any firm unless it was a firm where I expected to finally consolidate my assets in (which would normally be a firm like Fido or ETrade).
by SlowMovingInvestor
Mon Feb 05, 2024 7:43 pm
Forum: Personal Investments
Topic: How to invest cash at Schwab?
Replies: 76
Views: 9475

Re: How to invest cash at Schwab?

Wouldn't a Schwab customer invest cash the same way people invest cash at any other brokerage? How else does one buy securities if not with cash? As noted, Schwab does not have a HY 'settlement acct', so it is not like other brokerages that do. You must phyiscally trade in and out of the Schwab HY MM / treasury accts Yes, it's a pain, But I often initiate trades and later (within 24 hrs of execution) transfer my MM $$ into settlement fund. The problem is greater with pending buy and sell 'limit' orders. Especially for me (often traveling overseas or backcountry without access to email, phone ot internet)Thus my active trading accts are NOT at Schwab (Mosgt are at Fidelity) Where I have an automatic choice of high yield settlement accts / a...
by SlowMovingInvestor
Mon Feb 05, 2024 12:08 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

And the Robinhood bonus is 3%. 1% isn't that great, but it was assets that need to be parked somewhere anyway. So 1% was better than doing nothing. I confused the WeBull (now expired) offer of 1.8% for 1 year (which required hoops such as referral) with the RH one. You're right, RH is 3.0%, but that's for 5 years, and a shakier firm. I would disagree that Robinhood is shakier than WeBull. I'd say WeBull is shakier than Robinhood. I was comparing RH to BoA/Merill (in the context of the whole subthread, not just the part that was clipped, I was taking that as the reference point). I agree that WeBull is shakier than RH, because it's newer, has a smaller asset base, and is not public (so less scrutiny). And WeBull has the Chinese ownership is...
by SlowMovingInvestor
Mon Feb 05, 2024 11:40 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I don't think this issue would fall into SIPC's mandate at all. And likely not even that of FINRA. Maybe CFPB. Although even with CFPB, since this happened before you had transferred (let alone after 9 months), I'm not sure this would be considered an 'injury' that needed redressal. Perhaps I got the wrong regulator...maybe I would have checked here before actually writing. But you are incorrect...the assets had already transferred before they changed the terms from 9 months to 12 months. And the Robinhood bonus is 3%. 1% isn't that great, but it was assets that need to be parked somewhere anyway. So 1% was better than doing nothing. I confused the WeBull (now expired) offer of 1.8% for 1 year (which required hoops such as referral) with t...
by SlowMovingInvestor
Mon Feb 05, 2024 11:21 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I've had a Merrill Edge account for about 5 years. I just negotiated a bonus for a bigger amount. I knew that the nice lady at the new Bank of America branch was new and wasn't sure what to do, but she went back and forth with someone "higher up" and I got a decent bonus and transferred in some securities to my already existing account. After it was all done, I asked her for something in writing, as I realized that I did not have anything. I politely told her that I was concerned that if she hit the big Powerball and moved to her own island, I would have nothing to prove what we agreed to. The bonus was to be paid out at the end of a 9 month holding period. OK. She hemmed and hawed about getting me something in writing and finall...
by SlowMovingInvestor
Thu Feb 01, 2024 7:24 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I got a fractional share bonus from WeBull for opening a brokerage account. $100 of AAPL. Chickenfeed, but nice to have.
by SlowMovingInvestor
Wed Jan 31, 2024 8:00 am
Forum: Personal Investments
Topic: Skip emerging markets due to tax inefficiencies?
Replies: 26
Views: 2676

Re: Skip emerging markets due to tax inefficiencies?

It seems that EMG ETFs these days are mostly China, India, Taiwan and Korea. It's a legit question whether at least 3 of the 4 can be called emerging at all. And the largest sector is IT.

Not very boglehead of me, but I'm thinking of making small bets on 1-2 countries rather than with the broader 'EM' index. Mostly India Index ETFs (which do have qualified dividends).
by SlowMovingInvestor
Fri Jan 26, 2024 5:24 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I did a transfer to M1Finance this week. Went through smoothly. But it's an IRA, so I don't care about cost basis and haven't checked it.
by SlowMovingInvestor
Thu Jan 25, 2024 7:54 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1551
Views: 119738

Re: Robinhood 3% IRA Match

Leesbro63 wrote: Thu Jan 25, 2024 7:33 am
tj wrote: Thu Jan 25, 2024 5:33 am
manlymatt83 wrote: Wed Jan 24, 2024 10:28 pm
Agree. RobinHood won’t exist in five years.
That's a fair point. And whoever acquires them certainly won't enforce the terms of the bonus.
I don't think that's something to assume. (That an acquirer won't enforce the bonus terms)
I'm not sure if the term 'enforce' here means that an acquirer would have to pay out the bonus (In which case 'abide by' would be better wording). I agree that an acquirer would have to abide by the terms of the bonus unless it's an acquisition out of bankruptcy. And even in acquisition out of bankruptcy, an acquirer would abide by the bonus terms if they're interested in retaining RH customers.
by SlowMovingInvestor
Wed Jan 24, 2024 8:24 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

How comfortable would you feel about having amounts beyond SIPC limits at WeBull? There was a lot of concern raised in the Robinhood thread, which frankly seemed pretty far-fetched to me. That said, Robinhood is a fairly large player in the space and is heavily scrutinized. I'm not sure one can say the same about WeBull. I spent some time looking at it for their last promo (1.8% for 1 year in an IRA). All their docs, SEC filings, auditing etc. (big 4 auditor) seemed fine. But ultimately, I decided not to go beyond the SIPC limit (except a small amount to take care of fluctuations during transfer). The probability of a problem may be minimal, but I decided it was a risk not worth taking (especially now that they hold the accounts locally an...
by SlowMovingInvestor
Tue Jan 23, 2024 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: FBAR filing, failed to obtain a copy. Possible consequences? [Report of Foreign Bank and Financial Accounts]
Replies: 11
Views: 1569

Re: FBAR filing, failed to obtain a copy. Possible consequences?

Faith20879 wrote: Tue Jan 23, 2024 11:59 am
After further digging through, I've come to believe that keeping a copy is more for a filer's own record than a proof of filing. I think I am just going to download a blank pdf and fill/save it the same way I did on the online web form and leave it at that.

They offer two ways to file: 1. download a pdf , fill it while offline, and 2. Online submission. I've always taken the online route.

A sincere thank-you to everyone who chimed in.
I thought from your earlier post (which mentioned signed) that you had downloaded a pdf, filled, signed and submitted it, so my response was geared to that (and clearly not applicable to someone who filled in online).
by SlowMovingInvestor
Tue Jan 23, 2024 8:19 am
Forum: Personal Consumer Issues
Topic: A definitive data-based answer to oft-asked question, best new car for the money
Replies: 15
Views: 1942

Re: A definitive data-based answer to oft-asked question, best new car for the money

Honestly, I thought Mitsubishi had stopped selling in the US a few years ago. Not quite, but nearly there.
by SlowMovingInvestor
Tue Jan 23, 2024 7:32 am
Forum: Personal Finance (Not Investing)
Topic: FBAR filing, failed to obtain a copy. Possible consequences? [Report of Foreign Bank and Financial Accounts]
Replies: 11
Views: 1569

Re: FBAR filing, failed to obtain a copy. Possible consequences?

Was there any difference in previous years between the signed uploaded FBAR and the one that you got after download?

I didn't think documents could be altered after being signed without breaking the signature.

If they've sent you a verification email, that should be more than sufficient.
by SlowMovingInvestor
Sat Jan 20, 2024 11:36 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

BlackcatCA wrote: Sat Jan 20, 2024 10:58 am WeBull interface would show cost basis, right? But it wont show it properly after transfer. In other words both platforms are bad…
I transferred an IRA to WeBull, so I didn't care about cost basis and am not sure if it was transferred correctly. However, there is a way to modify transferred cost basis (although I don't think it allows setting lots).

Unlike some of the other commentators here, I actually liked the WeBull app and think it's well laid out for traders (even though I'm not one). But I wouldn't transfer a non IRA account there.
by SlowMovingInvestor
Fri Jan 19, 2024 6:41 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1241481

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

I've been trying to decide whether to buy 30 year TIPS or I-Bonds. The discussion on this thread has been very useful.

One question -- I-Bonds interest is compounded semiannually. What do the calculations comparing TIPS returns vs I-Bond returns in a tax deferred account assume the holder does with TIPS payouts of interest?

[ Apologies if this is a silly question]
by SlowMovingInvestor
Fri Jan 19, 2024 8:05 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

bbrock wrote: Thu Jan 18, 2024 11:16 pm
1) How’s the WeBull platform? Is it better or worse than TastyTrade, b/c I find TastyTrade’s platform horrid.
It's almost entirely app based for most operations. I'm not a trader, but I find WeBull very easy and intuitive, and almost addictive. As usual, YMMV.
by SlowMovingInvestor
Thu Jan 18, 2024 10:04 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

How does one register for the M1 Finance promotion?

https://m1.com/transfer/promo-20k/

Do I just open new accounts and initiate the transfer from the promotion page?

Thanks
by SlowMovingInvestor
Wed Jan 17, 2024 1:06 pm
Forum: Personal Investments
Topic: Egregious Financial Advisor Mistake - Help!!
Replies: 54
Views: 5205

Re: Egregious Financial Advisor Mistake - Help!!

[Quotations of posts removed for suggesting non-compliance with tax laws have been removed - moderator ClaycordJCA]

Not a tax pro, but IIRC, the penalty is a 6% excise tax every year on the invalid contribution and any earnings on it (pro rated). The invalid contribution remains invalid, so the person is subject to the excise tax for the last few years (as many as are allowed by the SOL) until these are withdrawn. [I'm not sure if the SOL is tolled for previous years, but certainly 3-6 years remain open]. That would make this a continuing offense.

So 'fixing it going forward' would require withdrawing the contributions and earnings at a minimum.
by SlowMovingInvestor
Tue Jan 16, 2024 11:54 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I'm looking at this bonus https://m1.com/transfer/promo-20k/ and it says A Payment Account cannot be a retirement account of any kind. When I last got a bonus from M1 (several years ago), I opened an IRA and a brokerage account. The transfer was to the IRA, but the payout was in the brokerage account. I would much rather transfer an IRA account, but it seems to be disallowed by this promotion. From comments earlier in the thread, it seems that M1 doesn't do a great job of transferring cost basis. Add to that the possibility that they may try and force the account into one of their 'pies', which would lead to a lot of tax sales (my recollection is that the default behavior for an account is a pie, and I had to set it last time to not be a p...
by SlowMovingInvestor
Tue Jan 16, 2024 11:47 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

selfinvestor wrote: Tue Jan 16, 2024 11:43 am
I currently am enrolled in 2 M1 offers, both will pay me a bonus of $10K. You can turn off the automatic reinvesting in pies. The only thing i do not like is you cannot do dividend reinvestment. The bonus though is high and if you ask them they might give you free M1 Plus.
Are any of these offers valid for retirement accounts and still active?
by SlowMovingInvestor
Tue Jan 16, 2024 10:56 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I'm looking at this bonus https://m1.com/transfer/promo-20k/ and it says A Payment Account cannot be a retirement account of any kind. When I last got a bonus from M1 (several years ago), I opened an IRA and a brokerage account. The transfer was to the IRA, but the payout was in the brokerage account. I would much rather transfer an IRA account, but it seems to be disallowed by this promotion. From comments earlier in the thread, it seems that M1 doesn't do a great job of transferring cost basis. Add to that the possibility that they may try and force the account into one of their 'pies', which would lead to a lot of tax sales (my recollection is that the default behavior for an account is a pie, and I had to set it last time to not be a pi...
by SlowMovingInvestor
Tue Jan 16, 2024 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Cancellation -- what to do with credit limit?
Replies: 14
Views: 1597

Credit Card Cancellation -- what to do with credit limit?

I'm planning to cancel a Chase Card. I've a decent credit limit on the card. Should I ask Chase to transfer the limit to another card, prior to cancellation? I have no credit balances on any cards (Chase or otherwise), and indeed my credit utilization overall is < 1%. Even the limit on this card would only amount to around 10% of my current credit limit at Chase. There is almost 0 chance I will need the credit in the future. The only reason I can think off to transfer the credit is any impact on my credit score. Letting the credit vanish does have one advantage in that if I were to apply for another card in the future, Chase might be more willing to approve the card. I've had times in the past where Chase has put a new card application on h...
by SlowMovingInvestor
Tue Jan 16, 2024 8:29 am
Forum: Personal Investments
Topic: Replacement for corporate high yield fund
Replies: 8
Views: 923

Re: Replacement for corporate high yield fund

Thanks for all the comments and suggestions.

I think I'll go for a mix of USHY and VCIT (Vanguard Intermediate Corporate ETF). I picked VCIT since VWEHX is less junky than USHY, so around 30% VCIT will give me approximately the same quality as VWEHX. And VCIT over VCSH (which I also considered) since it has a slightly longer duration.

FALN is intriguing, but I need to learn more about it.
by SlowMovingInvestor
Mon Jan 15, 2024 10:00 am
Forum: Personal Investments
Topic: Replacement for corporate high yield fund
Replies: 8
Views: 923

Replacement for corporate high yield fund

I have some holdings of VWEHX (Vanguard High Yield Corporate Fund). I want to shift to a High Yield ETF instead. This is in an IRA, so no tax implications.

I know the advice here might be to shift to a mix of total stock market + total bond market instead, but I'm really looking for a replacement High Yield ETF. 2 that I can see from iShares are:


1) HYG (iBoxx $ High Yield Corporate Bond ETF) Expense Ratio: 0.49%
2) USHY (iShares Broad USD High Yield Corporate Bond ETF) Expense Ratio 0.8%

Both have bonds with a B+ average credit rating and around 3.27 duration
VWEHX has a slightly average higher credit rating.

Any comments or alternative suggestions for high yield ETFs?

Thanks
by SlowMovingInvestor
Sun Jan 14, 2024 11:32 am
Forum: Personal Investments
Topic: VHCAX [long-term cap gains much lower than usual]
Replies: 25
Views: 2575

Re: VHCAX [long-term cap gains much lower than usual]

I really do not understand the koolaid being drunk here. If i have 150,000.00 in VHCAX. Every December there is a payout. It was about approx.13,000 dollars last year, and has been always higher than 5,000.00. The account auto reinvests. This increases the number of shares owned. Look forward to the distribution and increase in number of shares every year. How am I not looking at it right when the distribution is ridiculously low. Approx 2,200.00 for this year. I do not really care about the NAV, that is what i pay them to do. Make money. There gonna be a lot of pissed people when they see this years distribution Actually, I'm normally very annoyed with the VHCAX distribution because it's so high ( own VHCAX in taxable account). This year,...
by SlowMovingInvestor
Wed Jan 10, 2024 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Cost basis questions
Replies: 5
Views: 738

Re: Cost basis questions

rkhusky wrote: Wed Jan 10, 2024 12:49 pm You are using actual cost basis in all instances. The only other cost basis method is average cost, which I think is only for mutual funds*. FIFO, LIFO, SpecID are share selection methods. You only have to inform your brokerage which share selection method to use, the IRS doesn’t care.

*Vanguard says you can use average cost with mutual funds, most ETF’s, stock DRIP dividends:
https://investor.vanguard.com/investor- ... erage-cost

I confused cost basis with share selection :oops: . Thanks for clarifying.

What about my second question -- crypto losses can be used to write off capital gains, even ordinary income (upto $300), right?
by SlowMovingInvestor
Wed Jan 10, 2024 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Cost basis questions
Replies: 5
Views: 738

Cost basis questions

I sold all my holdings of an asset (it's a crypto coin, but discussing tax implications is allowed). It was one sale order, but it shows up as a set of sell transactions for portions of the sale (it was a limit order). 1) Since I sold all my holdings, the cost basis method I choose to report should not matter for these transactions, correct? But if I pick a cost basis method, I'll have to stick with that method if I buy the same asset in the future (or I have to inform the IRS of cost basis method change)? The brokerage I used only supports HIFO, LIFO and FIFO, not specific lots (my preference for securities in general). If I report to the IRS on one line as just one sale (which is what it was), does that mean that I can use any method in t...
by SlowMovingInvestor
Thu Dec 28, 2023 8:25 am
Forum: Personal Finance (Not Investing)
Topic: End of year tax deadlines
Replies: 4
Views: 607

Re: End of year tax deadlines

grabiner wrote: Thu Dec 28, 2023 7:46 am
SlowMovingInvestor wrote: Thu Dec 28, 2023 7:31 am 2) I can pay Federal estimated taxes online on the 30th or 31st? Whether using DirectPay for banks or one of the credit card tax sites such as PayUsa? Even if banks wouldn't actually process payment until after the holidays?
The estimated tax deadline is January 15 (January 16 this year since the 15th is a holiday), not December 31.
Thanks! I knew this, but for some reason confused this with the deadline for state taxes if I wanted to itemize and deduct in my Fed return :oops:
by SlowMovingInvestor
Thu Dec 28, 2023 7:31 am
Forum: Personal Finance (Not Investing)
Topic: End of year tax deadlines
Replies: 4
Views: 607

End of year tax deadlines

I needed to confirm some year-end deadlines for tax actions.

1) Any sale (MF, ETF, Stock) I make through tomorrow will count towards my tax gains/losses for 2023, correct ?

2) I can pay Federal estimated taxes online on the 30th or 31st? Whether using DirectPay for banks or one of the credit card tax sites such as PayUsa? Even if banks wouldn't actually process payment until after the holidays?

I think so, but I wanted to be sure.
by SlowMovingInvestor
Tue Dec 26, 2023 6:42 pm
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

Is that correct? Or are you saying that in case b), the $16 of ST cap distributions will have to be offset by the $3000 offset for income? I thought ST cap distributions could be offset by LT losses after LT Cap gains have been offset. ST cap gains distributions from a mutual fund are reported as ordinary dividends and not as ST capital gains distrivutrion. Thus "he $16 of ST cap distributions will have to be offset by the $3000 offset for income?" is TRUE and "I thought ST cap distributions could be offset by LT losses after LT Cap gains have been offset." and while this is true (it is true that you thought that) what you thought is FALSE. Thanks. That is very useful to know. It seems that Vanguard Health also made a l...
by SlowMovingInvestor
Tue Dec 26, 2023 8:46 am
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

Quick Additional Question I see Vanguard Health Care (VGHAX) is making its distributions over the next 1-2 days with payable date 12/28 If I were to wait until the 28th, or maybe the 29th morning, I assume that the unrealized gains that show up on VG's unrealized capital gains page would have been adjusted for the recent distribution and I can rely on them to make any final sales? Any shares you do not sell TODAY will get the upcoming distribution. The estimated cap gains distribution is $2.61 per share. Whether you sell today or later, you are getting this $2.61 capital gains. There is no difference whether you wait or not. However, the same goes for the estimated $0.16 short-term capital gains distribution with a twist: If you sell today...
by SlowMovingInvestor
Tue Dec 26, 2023 7:39 am
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

Quick Additional Question

I see Vanguard Health Care (VGHAX) is making its distributions over the next 1-2 days with payable date 12/28

If I were to wait until the 28th, or maybe the 29th morning, I assume that the unrealized gains that show up on VG's unrealized capital gains page would have been adjusted for the recent distribution and I can rely on them to make any final sales?
by SlowMovingInvestor
Tue Dec 26, 2023 3:33 am
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

livesoft wrote: Mon Dec 25, 2023 5:36 pm If you look at the 9-box style-grid of these at Morningstar.com, then I see no reason not to just replace with VTI. This is especially true if you look at the 9-box style grid of a portfolio of these 3. That is, they kinda average out to VTI when combined I think.

Example if equal weighted by dollars;
Image
Thank you. Very informative.
by SlowMovingInvestor
Tue Dec 26, 2023 3:33 am
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

Why do you "need to" do this? You can reduce regular income by $3K and carry over the rest to next year, and do the same thing then if you wish. I was planning to make sure that at least 3K of losses were not offset this year. But my state doesn't allow carryover, so I would lose any additional write off for state tax purposes. And a secondary goal I have is to reduce my holdings of funds that make large distributions. But you make a very good point. I need to consider whether I might be better off carrying some losses over, since I might be able to offset federal income in future years, even if I lose those losses for state purposes. Although given the distributions I get from my MFs (especially the three I cited), I think they ...
by SlowMovingInvestor
Mon Dec 25, 2023 6:19 pm
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

Any comments? Thanks! Do you have a Roth account? I think the funds are fine, but are just in the wrong spot. Any chance you could sell them in taxable and repurchase them in your Roth account? As for the taxable account, I'd stick with the default of using tax efficient funds like VTI or VOO. Regards, Unfortunately, I don't have an IRA at VG, so I can't buy them in an IRA there I do have an IRA at another broker that offers the non-Admiral versions of Equity Income and Health Care, but I need to see if I can free up enough cash to buy the funds there, and I admit that I dislike paying an extra 0.1% in expenses, irrational as that may be. Note that even after the sales I'll still have fairly large holdings of Capital Opp and Equity Income,...
by SlowMovingInvestor
Mon Dec 25, 2023 6:17 pm
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Re: Tax Gain Harvesting

steadyosmosis wrote: Mon Dec 25, 2023 5:47 pm
SlowMovingInvestor wrote: Mon Dec 25, 2023 5:23 pm ...and no desire to sell any holding that has short term gains.
Any comments? Thanks!
If you were holding ETFs instead of mutual funds, you could sell the ST gains and buy them back 2 minutes later.
True, but I want to make use of these embedded gains to also shrink my holdings of funds that generate large distributions. That is a secondary goal.
by SlowMovingInvestor
Mon Dec 25, 2023 5:23 pm
Forum: Personal Investments
Topic: Tax Gain Harvesting
Replies: 16
Views: 1871

Tax Gain Harvesting

I need to do some tax gain harvesting this year to offset some capital losses. Losses are in the 30K range (approx), but are a small portion of my portfolio. My state doesn't allow capital loss carry forwards. It would be nice to write off short term gains with the capital losses, but I really don't have a lot of unrealized short-term gains and no desire to sell any holding that has short term gains. I'm considering taking gains in Vanguard Active Mutual Funds. I bought them long ago, so they have a lot of embedded capital gains. I've picked the funds that historically do a lot of distributions. I'm also wondering what to buy in their stead when I sell. The default answer would be VTI, of course, but I'd like to stick to the market sector t...
by SlowMovingInvestor
Fri Dec 22, 2023 5:22 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

With respect to Fidelity's terms and conditions to avoid a clawback of bonuses, does anyone know whether the net deposit needs to be maintained at or above the amount contributed during the 2-month contribution period: (a) throughout the entirety of the 12-month holding period, or (b) simply be met at the 12-month point in time? In other words, if I make a big withdrawal from the account during the 12-month period, but make an equally big contribution right before the 12-month clock ends, does this prevent the clawback? You cannot make a big withdrawal and then cover it before the clock ends. If you make the big withdrawal, you risk clawback the moment you drop below the bonus qualification amount. Will they claw back? Maybe, maybe not, bu...
by SlowMovingInvestor
Fri Dec 22, 2023 5:00 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7770
Views: 1352087

Re: TastyTrade intro offer

I'm thinking of joining Tasty Trade for their generous bonus and after joining just buy 3 vanguard ETFs and not to do any trade. Does anyone have experience with their service and platform? Are there any cons in joining? https://info.tastytrade.com/tasty-offer?_gl=1*g15p2i*_gcl_au*MTcyNzgxNzE0Mi4xNzAzMjY0MzQ1 The trading UI is horrendous for buy and hold, it's geared towards rapid options trading. I manage to use it as needed, but I hate it. The bonus is once per lifetime (with few exceptions), so, if you're going for a smaller bonus, you might want to wait until you have enough assets for a bigger bonus, because going for a smaller bonus will likely burn your 'once per lifetime' qualification with them and preclude you from a bigger one l...
by SlowMovingInvestor
Fri Dec 22, 2023 4:48 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2255
Views: 293070

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

I rolled over an annuity directly from Sammons to another MYGA provider a few months ago.

I received an email from Sammons saying that I'm going to get a 1099-R from them for the rollover.

From previous discussions on this thread, I assume it'll show 0 taxable?