Bogleheads.org

gips wrote: ↑Tue Mar 28, 2023 1:18 pm as others have pointed out, visible is a verizon mvno, we pay $25/line, no contract.

Is that $25 a first year promo price? I have to ask, websites can be pretty deceptive about that.

I was planning to tell my future executor who the beneficiaries are so he could then inform the charity of my death. Otherwise I have no idea how this could work.

I was adding beneficiaries to my Vanguard account and decided to add a couple charities as beneficiary. Should I notify them now that I did that? Or just have my executor notify them when I die?

Looks like the IRS is getting close to adding login.gov as a sign in option.

https://www.nextgov.com/it-modernizatio ... rs/383932/

Looks like the IRS is getting close to adding login.gov as a sign in option.

https://www.nextgov.com/it-modernizatio ... rs/383932/

This thread is interesting. I've never applied a refund to the following years taxes because I was never clear on how it would be treated.

Similar experience here. Whole shares transferred in-kind to Vanguard. Fractional shares sold to cash, and the cash remains at Merrill. Vanguard mutual funds, not ETFs.

retiredjg wrote: ↑Sun Feb 12, 2023 11:05 am There's your answer. Money going from 401k to Roth IRA does not trigger a form 8606.

Thanks! A nice concise answer. Looks like I'm good for this year.

retiredjg wrote: ↑Sun Feb 12, 2023 7:26 am Today, I went back and chose "sent the money to another IRA' and there were several new questions after that - including if I had done both (another IRA and cashed it out). I selected "both" and it asked if I did a Roth conversion and how much. I said "yes" and entered the amount. That did generate the 8606. It did not change the tax.

Maybe this is what I need to do. I can never get the interview to ask me that many questions.

Or maybe this isn't working for me because the money didn't actually come from an IRA, it came from a 401K.

What I actually did is this.
Closed out my 401k, (all tax deferred)
Moved 95% of it to an IRA
Moved 5% of it to a Roth IRA

If you answer the questions after 1099-R number entry you’ll get to one that asks if it went into a Roth. Answering “yes” will automatically generate 8606. Then you get to question about basis. I have none so I skip it but it’s as easy as entering the number and it should carry to 8606 as well. If you’re using TurboTax anyway, I’d do this to save far less than what’s at stake here. But I like ensuring I pay the minimum legal tax required. Maybe not worth it to others. Hmmm... I'm using TurboTax, I entered the 1099-R numbers, answered "Yes" to the question about Roth conversion. It didn't generate an 8606 for me. I've been wondering about this form. I have no basis in the IRA. Is that why it didn't generate an 8606 for me? Do I no...

Only had a problem once in 2019 with the Nebraska version. The state version of form 2210 wouldn't let me annualize my income like the Federal version did. TT support advised me to add a note to my NE return explaining what I wanted to do. I did that and NE didn't complain, at least not yet.

I'm the original poster in this thread. Still having trouble withdrawing money from my Merrill Edge IRA. I would prefer to withdraw money without having taxes withheld. My state does not require withholding if no federal taxes are withheld. I would rather do all tax payments with estimated payments. But Merrill won't let me do this without filling out a paper form and mailing it in. I know others above have said this is an easy online transaction at Vanguard. Is it still an easy online transaction if you don't want taxes withheld? Merrill does allow for electronic transmission of documents like the withholding form. From Merrill's Main Menu, click on Help and Settings, then click "Send Document" and follow the prompts. You will h...

I'm the original poster in this thread. Still having trouble withdrawing money from my Merrill Edge IRA. I would prefer to withdraw money without having taxes withheld. My state does not require withholding if no federal taxes are withheld. I would rather do all tax payments with estimated payments. But Merrill won't let me do this without filling out a paper form and mailing it in. I know others above have said this is an easy online transaction at Vanguard. Is it still an easy online transaction if you don't want taxes withheld? Merrill does allow for electronic transmission of documents like the withholding form. From Merrill's Main Menu, click on Help and Settings, then click "Send Document" and follow the prompts. You will h...

3,802

I'm the original poster in this thread. Still having trouble withdrawing money from my Merrill Edge IRA. I would prefer to withdraw money without having taxes withheld. My state does not require withholding if no federal taxes are withheld. I would rather do all tax payments with estimated payments.

But Merrill won't let me do this without filling out a paper form and mailing it in.

I know others above have said this is an easy online transaction at Vanguard. Is it still an easy online transaction if you don't want taxes withheld?

FYI for those interested, they increased the APY from 3.5% to 3.9% on December 20th, which is pretty impressively quick following the FOMC meeting. It seems that they are essentially charging 0.3% for the FDIC insurance over a settlement account, not a bad deal. Agreed. In addition there are no transaction limits unlike most savings account that limit you to 6 withdrawals per month. My only issue with the account is that you cannot transfer funds direct from the Cash Plus to an external account. You first have to transfer the money to the settlement account which takes 2 to 3 days then from there you can transfer to an external account. I haven't tried transferring money from Cash Plus to an external account yet but it sure looks like I co...

FYI for those interested, they increased the APY from 3.5% to 3.9% on December 20th, which is pretty impressively quick following the FOMC meeting. It seems that they are essentially charging 0.3% for the FDIC insurance over a settlement account, not a bad deal. Agreed. In addition there are no transaction limits unlike most savings account that limit you to 6 withdrawals per month. My only issue with the account is that you cannot transfer funds direct from the Cash Plus to an external account. You first have to transfer the money to the settlement account which takes 2 to 3 days then from there you can transfer to an external account. I haven't tried transferring money from Cash Plus to an external account yet but it sure looks like I co...

rivercrosser wrote: ↑Wed Dec 28, 2022 3:18 pm

rivercrosser wrote: ↑Wed Dec 28, 2022 10:39 am Did they raise the fee for state e-filing? When I filed my 2021 return this past February it was $20.00 each. I use the desktop version Deluxe w/state.

Edit: Found on TurboTax web site. Looks like it's still $20.00 for the state e-file fee.

I think they told me $20 too last year but what they actually charged me was $25.

mrc wrote: ↑Mon Dec 26, 2022 2:54 pm

Newlife wrote: ↑Mon Dec 26, 2022 2:23 pm Does Deluxe support Foreign Tax Credit, Form 1116? Thank you very much.

It did in TY 2020. I used Premier in 2021.

Deluxe did for me for both TY 2020 and 2021.

OP, I have a MerrillEdge IRA as well and haven’t had a problem selling and transferring the money to my bank accounts. What exactly is the issue? Happy to help WoodSpinner How do you do that? I see no way to do that. There is no account number that I can find anywhere for an ACH transfer and the only transfer method that I can find is to bring money into the account, nothing for taking money out of the account. Log in to Merril Edge using a browser. Go to Accounts/Transfer & Withdrawals Look for the Add Account hyperlink It takes a couple of days to complete but once set up it will appear in your account transfer drop down. Hope this helps! WoodSpinner My previous post describes the problem I had with this. Do your cash accounts in you...

dukeblue219 wrote: ↑Sun Dec 25, 2022 12:02 pm Have you added external accounts to Merrill Edge? If so they should be listed on your Transfer tab.

The account I would like to add is PNC Bank which is the Vanguard Cash Plus account. When I enter the numbers for that it asks for my PNC login info. First off I don't really want to give them my login info. But anyway I don't have a login for PNC Bank. I get there through Vanguard.

I wish they could do verification with a trial deposit.

WoodSpinner wrote: ↑Sun Dec 25, 2022 9:39 am OP,

I have a MerrillEdge IRA as well and haven’t had a problem selling and transferring the money to my bank accounts.

What exactly is the issue?

Happy to help

WoodSpinner

How do you do that? I see no way to do that. There is no account number that I can find anywhere for an ACH transfer and the only transfer method that I can find is to bring money into the account, nothing for taking money out of the account.

OnTrack2020 wrote: ↑Sun Dec 25, 2022 7:03 am The answer to your question is yes, and the process is very straightforward. You go to your account holding/s and click on which holding you want to "sell." It then brings up another screen and asks how much of that holding you want to sell (either in dollars or shares). And then another screen will ask how much you want to withhold for federal and state taxes. That's pretty much the procedure.

And then those proceeds could be moved directly into a Vanguard money market fund for example I assume?

Are the taxes included in the initial sell amount you entered or are taxes added to the sell amount you entered?

If I decide to move the IRA to Vanguard I don't have to wait a year because it would be trustee to trustee correct?

I opened a Merrill Edge traditional IRA this year because that's where my 401k is (or was). I'm not finding any easy way with the online account to withdraw funds from it. I'll have to call in I guess. Does this work easier with a Vanguard IRA account? Can funds be withdrawn from a Vanguard IRA account online simply by logging in and clicking a few buttons?

Old enough to avoid penalties, young enough to avoid RMD.

placeholder wrote: ↑Fri Dec 23, 2022 9:15 pm

tlveik wrote: ↑Fri Dec 23, 2022 8:42 pm Is there any forum like this one dedicated to Merrill Edge? I just opened an IRA there because that's where my 401k is (or was).

What's wrong with this one?

Nothing. This forum is awesome, but potentially doesn't include posts from Edge users who haven't found this forum. Perhaps I've mistakenly thought this forum was primarily used by Vanguard investors.

Is there any forum like this one dedicated to Merrill Edge? I just opened an IRA there because that's where my 401k is (or was).

I understand that these are just estimates. But would I be correct in assuming that the Per Share Capital Gains estimate would remain relatively constant given a change in share price and the %-of-NAV would change inversely with share price?

tlveik wrote: ↑Mon Nov 14, 2022 4:47 pm I tried signing up for this today. Filled out all the info, answered all the questions. Got to the end and clicked on the Accept button.

Never ending spinny circle...

Now I have no idea if I'm signed up or not.

Ever since this problem, I have not been able to sign into my Vanguard account. Just spent an hour on the phone with Vanguard support and still can't log in.

I received my invite a couple days ago. 3.5% Looks like the new account will replace the existing sweep account rather than add a new account. This statement give me pause though. "assets are swept into one or more Program Banks under the Bank Sweep" One or more? Does that complicate my end of this or is this just a behind the scenes action? This is very odd, because this is totally different than the cash plus account pilot. The cash plus account is a completely new account (housed at PNC bank) and you have to transfer money from that account to your settlement fund in the brokerage account to make purchases. So what exactly did you get? Are they doing two different pilot programs one as a separate account and one as a settlemen...

I tried signing up for this today. Filled out all the info, answered all the questions. Got to the end and clicked on the Accept button.

Never ending spinny circle...

Now I have no idea if I'm signed up or not.

Big Dog wrote: ↑Sun Nov 13, 2022 10:07 am For those who have received invites, are you holding any cash in any of Vanguard's MMF?

I do, a very small amount.

I received my invite a couple days ago. 3.5% Looks like the new account will replace the existing sweep account rather than add a new account.

This statement give me pause though.
"assets are swept into one or more Program Banks under the Bank Sweep"
One or more? Does that complicate my end of this or is this just a behind the scenes action?

wander wrote: ↑Wed Aug 03, 2022 4:55 am I too don't see the point of Vanguard asking upgrading Yubikeys by re-registering the same key I have used. It's wasting everyone's time.

Re-registering the key and adding a pin increases security. The new pin prevents anyone from finding your lost key (or stealing it) and then using it to get into your account. They can't get in because they don't know your pin. Granted, they also need your username and password, but the added pin does increase security. It effectively adds two-factor to the key itself.

Fremdon Ferndock wrote: ↑Tue Aug 02, 2022 1:41 pm What if you don't know your PIN?

If you haven't put a pin in the key yet then you will be asked to create a pin when you register the key.

If you have put a pin in the key and you forgot it, then you can reset the key with the yubikey manager program. If you reset the key, then it will have to be re-registered with Vanguard.

mouth wrote: ↑Sun Jul 31, 2022 6:53 am

tlveik wrote: ↑Sat Jul 30, 2022 9:35 am I believe that if the key already has a fido2 pin in it then you won't be asked to enter and then reenter a new pin when you register the key. I have used Yubi Manager to change a pin and that does work and the Vanguard login works with the new pin.

Hmmm okay, then maybe I'll give that a try and see if I can get passed the error. I'm not holding out hope though

By the way. If you use Yubikey Manager to change a pin, you must run the Yubikey Manager program as an administrator for that to work. Right click on the program shortcut and click "run as administrator".

Hmmm so I tried deleting one of my keys, then re-registered it from the same key management page and it didn't seem to ask for a pin. So, I guess they are still allowing old-style registrations that way? What kind of key was it? Does it support FIDO2? I believe there is a flaw in their programing, and it will let you register a key that does not support FIDO2 pin functionality and not ask for a PIN. Since it let me register a Yubico Neo (an old key type that only support FIDO/U2F and not FIDO2/WebAuthn), I would be cautious counting on these keys to work after the September 20th cutoff date. It is a YubiKey 5 NFC (not a 5c); website says it supported FIDO2. I'm using FF 104.b03 but I also tried MS Edge 103.0.1264.77 (Official build) (64-bi...

Lately when I log in using my yubikey, I get this message. Anyone know what's up here?