Search found 171 matches

by Mike14
Fri Mar 22, 2024 2:19 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

spammagnet wrote: Thu Mar 21, 2024 4:14 pm
VictorStarr wrote: Fri Mar 08, 2024 11:25 pm... 1) You probably can earn a Merrill bonus every 37 weeks (24 weeks + 90 days). I do it once per year to hit the required balance for my anniversary date. ...
IIRC, the recent offer had some language restricting it to new customers.
In the 600/1000 offer, or where did you see it?
by Mike14
Sun Mar 17, 2024 5:21 am
Forum: Investing - Theory, News & General
Topic: VTSAX vs VTI
Replies: 40
Views: 7139

Re: VTSAX vs VTI

NYCaviator wrote: Wed Dec 20, 2023 2:50 pm There was a post on a thread recently where someone calculated that you’d actually come out slightly ahead (by $11) with VTSAX instead of VTI. I don’t think 1 bps is going to make any difference whatsoever over the long term.
Would love to see that post, but I believe it.

Biggest overlooked issue with ETFs performance calculation is the dividend re-investment drag.
Vanguard publishes on their website that ETF dividends are re-invested on the Ex-dividend date, and that's most likely what is being used for performance calculations. In reality, Vanguard invests dividends when they become payable a few days later:
viewtopic.php?t=426887
by Mike14
Tue Mar 12, 2024 7:48 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - Misleading Dividend Reinvestment Price & Date
Replies: 8
Views: 1039

Re: Vanguard - Misleading Dividend Reinvestment Price & Date

JoeNJ28 wrote: Tue Mar 12, 2024 6:54 pm An ETF is not a mutual fund it is not a journal entry to reinvest the dividend. The vanguard ETF sends cash to the vanguard brokerage (note different) company which then deposits the cash into your account. They then use the cash they gave you and others to buy shares of the ETF and give you the average price they paid on the market for it.
That part I understand, but why does Vanguard's ETF website show that dividends were re-invested at price $236.04 (12/21/2023), when in reality the re-investment price was $238.07 (12/27/2023)?
by Mike14
Tue Mar 12, 2024 6:12 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - Misleading Dividend Reinvestment Price & Date
Replies: 8
Views: 1039

Re: Vanguard - Misleading Dividend Reinvestment Price & Date

The issue is about Vanguard's disclosures not matching reality.
Geologist wrote: Tue Mar 12, 2024 3:31 pm Your example deals with a holiday weekend for further complication.
The disclosures not matching also happened in March, June, and September.
by Mike14
Tue Mar 12, 2024 3:16 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - Misleading Dividend Reinvestment Price & Date
Replies: 8
Views: 1039

Vanguard - Misleading Dividend Reinvestment Price & Date

Both Vanguard links (see below) show a "VTI" dividend re-investment price of $236.04 made on 12/21/2023.
In reality, Vanguard re-invested the dividends for "VTI" at $238.07 on 12/27/2023.

Where does Vanguard get that dividend re-investment price from, if they don't even offer it on their own platform for ETFs that they issue?

https://institutional.vanguard.com/inve ... /fund/0970
scroll to "Yield & Distribution"

https://advisors.vanguard.com/tax-cente ... tributions
search for "Total Stock Market", then "VTI".
by Mike14
Sat Mar 09, 2024 2:35 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

cak144 wrote: Thu Mar 07, 2024 5:53 pm Yes, you can do 1 taxable and 1 IRA every 12 months. I have done it.
Is the 12 months some unwritten rule, because it isn't in the terms.
When does the 12 month clock start? Enrollment date, bonus payment date, etc?
by Mike14
Tue Mar 05, 2024 2:19 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

tj wrote: Mon Mar 04, 2024 11:30 pm
Mike14 wrote: Mon Mar 04, 2024 11:19 pm
Tarkus wrote: Fri Jan 19, 2024 10:31 am The is no visibility at all into your taxable cost basis in a WeBull cash account. So I moved everything over to a margin account, so I could log into Apex and see it.
How does one log into Apex to see the cost basis for Webull (or other firms that are using Apex clearing)?

https://www.apexclearing.com/home-2/

Click the person icon.
Is the process signing up for an account with Apex clearing, using the full account number, including letters at the beginning, that is printed on the statement? Does the email address have to match what is used by brokerage account? I read something about only being able to have one account with Apex clearing, or is it simply one Apex clearing account per email address?
by Mike14
Mon Mar 04, 2024 11:19 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Tarkus wrote: Fri Jan 19, 2024 10:31 am The is no visibility at all into your taxable cost basis in a WeBull cash account. So I moved everything over to a margin account, so I could log into Apex and see it.
How does one log into Apex to see the cost basis for Webull (or other firms that are using Apex clearing)?
by Mike14
Fri Feb 23, 2024 4:19 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: Webull 2% deposit / 3% ACAT transfer bonus?

[Thread merged into here --admin LadyGeek] seems like Webull responding to the Robinhood 3% IRA transfer bonus, got this email this morning Dear Valued Clients: Thank you for being a part of Webull! Enjoy commission-free trading on a wide range of assets, advanced charting tools, and real-time market data! Webull is revolutionizing the way individuals approach investing! Check out this limited-time offer! Earn 2% cashback on deposits and 3% cashback from ACAT transfers made to your Margin Account between 2/21/2024 12:00 AM ET – 3/15/2024 11:59 PM ET! You can participate in this promotion via both funding methods! haven't looked too much into it but sounds like it's essentially a 3% bonus on transfers into taxable trading acct? essentially ...
by Mike14
Sun Feb 04, 2024 6:57 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Anybody know what Moomoo uses as their custodian / clearing agent?
by Mike14
Sun Feb 04, 2024 6:51 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Tarkus wrote: Fri Jan 19, 2024 10:31 am
bbrock wrote: Thu Jan 18, 2024 11:16 pm 1) How’s the WeBull platform?
The is no visibility at all into your taxable cost basis in a WeBull cash account. So I moved everything over to a margin account, so I could log into Apex and see it.
According to Webull's FAQ, with the new omnibus accounts, cash accounts and margin accounts are still maintained by APEX, only the cash portion is being held by webull.

So not sure why moving from cash account to margin enabled Apex lot status. They make it sound as if it doesn't matter:

"In Webull’s case, we will now maintain custody of your cash while Apex Clearing will continue to provide custody of your equities and options. "
https://www.webull.com/help/faq/10806-Omnibus-FAQs

Anybody have more insights?
by Mike14
Sun Jan 21, 2024 4:27 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Tarkus wrote: Fri Jan 19, 2024 10:31 am The is no visibility at all into your taxable cost basis in a WeBull cash account. So I moved everything over to a margin account, so I could log into Apex and see it. It's a good thing I did because there indeed was a problem with getting accurate cost basis transferred over from Vanguard.
What was the issue with the cost basis?
by Mike14
Sun Sep 17, 2023 3:46 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

02nz wrote: Wed Sep 06, 2023 9:01 am
bogswenbern wrote: Tue Sep 05, 2023 8:25 pm Anyone get Schwab to match Chase Private Client transfer offers?
They wouldn't for me. They insisted it was a checking offer (even though brokerage accounts can be used to meet the balance requirement). They did match this Public offer: https://help.public.com/en/articles/649 ... er-account
How long ago was that when you got Schwab to match public?
by Mike14
Wed Sep 06, 2023 5:09 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

UncleLeo wrote: Sun Sep 03, 2023 2:11 am I know Citi isn't generally liked but I received an interesting offer from them: "Up to a $500 bonus with Citi® Self Invest"
Screenshot for the tiers and funding/hold periods https://imgur.com/a/uOhXzjO
The really interesting part is that it seems as if one can fund with a small amount in September, then transfer $200k towards the end of October, maintain till the end of November, and then move on to the next bonus. All in all, $500 bonus for holding $200k for just ~month. Unless I'm missing something?
Do they accept Vanguard mutual funds again? I think they used to, but then stopped for new transfers.
by Mike14
Sun Aug 27, 2023 4:46 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

pre wrote: Thu Aug 24, 2023 5:06 pm Same here, just did another Schwab match, $2k for $500k or $3k for $1M. Took a few weeks to finally materialize, but gladly prefer them over the start-up firms. Interestingly enough, no minimum holding period.
Can you tell us more. Recent post suggest that the max for 500k is 1.5k, and only if assets are transferred from Fidelity and JPMC (chase).
Are you transferring from those firms, and is this for taxable or retirement? Are you adding to an already large portfolio at Schwab or how did you get the no minimum holding offer?
by Mike14
Sat Aug 12, 2023 8:16 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Wells Fargo WellsTrade: Has anybody figured out a way to get fractional mutual fund shares out (all that's left is 0.xx shares), without paying their enormous fees or doing a full account transfer? Once you transfer the full shares can't you just sell the fraction and transfer the cash via ACH? Does WFT allow to buy fractional shares, so that you end up with a whole number of shares? Trying to avoid the $35 transaction fee. Perhaps call and ask a broker to sell or it may just work itself out. So far no luck, they also sent an email that I was upgraded to trading fractional shares a few weeks after my account only had fractional shares left. They had no issue transferring in fractional shares, but somehow can only transfer out whole lots.
by Mike14
Tue Aug 08, 2023 10:32 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Wells Fargo WellsTrade: Has anybody figured out a way to get fractional mutual fund shares out (all that's left is 0.xx shares), without paying their enormous fees or doing a full account transfer?
by Mike14
Tue Aug 08, 2023 10:28 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Schwab had previously agreed to match bonus offers from other brokerages. Tasty Trade has a $3,000 bonus offer for transferring in $250,000, and the money must remain with them for one year. Schwab then told me that they are not willing to match Tasty Trade. I am debating taking the $250,000 from my Schwab taxable account to get the bonus from Tasty Trade. I took advantage of the tasty trade offer but I'm pretty agnostic about custodian so I have no burning desire to go to schwab if they aren't making good offers. Edit: Don't forget that tasty doesn't allow mutual fund purchases although you can transfer them their which wasn't a concern for me as I have all etfs. Are previous account holders eligible, or what is their definition of new cu...
by Mike14
Fri Jul 21, 2023 1:39 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: Moving From TD Ameritrade to ???

nalor511 wrote: Fri Jul 21, 2023 12:51 pm Schwab told me they would match Citi's offer, and then when I said "go" they said "nevermind" (this was last week), so just be sure you've got your match enrolled before solidifying plans too much. They were happy to match etrade/merrill
What were the actual tiers and bonus amounts they were willing to match?
Did they ask where the assets are coming from, if so what is either Fidelity or JPMC (chase)?
by Mike14
Sun Jun 04, 2023 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: POD Beneficiary signature rejected after passing
Replies: 34
Views: 4080

POD Beneficiary signature rejected after passing

Account owner signed beneficiary paperwork at financial institution's field office. After the owner's passing, the financial institution is rejecting the signature used to designate the beneficiary. What responsibility does the financial institution have to notify the owner of any signature discrepancies? How important is the signature anyway, considering that it was signed in front of an employee with a notary license, who obviously verified the identity of the signer? This has been escalated several times and they are not budging. Edit: Additional details: Brokerage account was opened many years ago. They are saying that the POD signature looks different from account opening signature. Beneficiary paperwork was completed several years pri...
by Mike14
Sun Feb 19, 2023 5:40 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

robbierob03 wrote: Wed Feb 08, 2023 1:37 pm I'm choosing to stick with churning the Merrill Edge bonus and not tie up funds for a year.
How do you get around their look back period?
by Mike14
Thu Jan 12, 2023 7:36 pm
Forum: Personal Investments
Topic: Merrill Edge account being closed/Vanguard Flagship transfer
Replies: 19
Views: 5031

Re: Merrill Edge account being closed/Vanguard Flagship transfer

Do they allow transfer of assets for taxable (non-retirement) accounts or will they force liquidate?
by Mike14
Thu Sep 29, 2022 12:56 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

andyhere wrote: Tue Sep 27, 2022 8:00 am Schwab paid me the same incentive to "do nothing" and leave the securities at Schwab, rather than transfer them out to eTrade.
Did Schwab previously pay you an incentive to transfer assets to Schwab?
I know their holding period is 12 months, so how long after that 12 months period were they willing to match eTrade?
by Mike14
Mon Sep 26, 2022 4:28 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

andyhere wrote: Sat Sep 24, 2022 5:10 pm One time, when I called Schwab to ask them to send securities to eTrade, Schwab gave me the same bonus as eTrade would have given me, just to leave the securities in Schwab.
Did Schwab also pay you a bonus on the transfer in or only on the transfer out?
Does Schwab have the ability to push to the receiving firm or why did you call?
by Mike14
Fri Aug 26, 2022 12:02 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

kurthauer wrote: Thu Aug 25, 2022 2:13 pm I’d had a similar problem in 2020 but it seemed they were more concerned I’d gotten a bonus in 2019.

Both times my assets were out of Merrill for about 13-15 months.
Did you open a new account or add the promo to an existing account?

The terms state a 52 week lookback period, which you easily cleared.
by Mike14
Thu Aug 25, 2022 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Asset based / Asset depletion mortgage providers
Replies: 28
Views: 2863

Re: Asset based / Asset depletion mortgage providers

$2 million in assets. Divide by 120 = $16,667. Multiply by 43% debt to income ratio, and you've got $7,167. That needs to cover mortgage payment, PMI (if applicable), homeowners insurance, property taxes, and all other debt. Assuming no other debt, homeowner's insurance of $400 a month, property taxes of $600 a month, and no PMI, that leaves $6,167 for a mortgage payment. At 3.5% interest, that's a a $1,373,000 mortgage, so with 20% down that's a $1.71M house. Were you able to find a lender that considers 100% of your portfolio's value, as opposed to 70%? If your assets are divided by 120 (10 years), wouldn't the mortgage also have to be for 10 years? Your $1,373,000 mortgage calculation suggests a 30 year mortgage. You'll most likely have...
by Mike14
Sat Mar 05, 2022 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty, but Refund Due
Replies: 17
Views: 1738

Re: Tax Penalty, but Refund Due

FiveK wrote: Thu Feb 17, 2022 9:29 pm
Mike14 wrote: Thu Feb 17, 2022 4:28 pm Tax software...
...may not have updated Form 2210. E.g., Form 2210 is estimated to be available by 3/17/22. Until then the form in the system is a temporary filler and may not be fully functional
Updating the tax software solved the mystery.
by Mike14
Thu Feb 17, 2022 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty, but Refund Due
Replies: 17
Views: 1738

Re: Tax Penalty, but Refund Due

Makefile wrote: Thu Feb 17, 2022 5:00 pm If the OP calculated the correct amount to pay. But maybe he didn't, or got ensnared by the 110% threshold.
But you make a good point, maybe OP had a big increase in income in 2021 and forgot to inform tax software of that.
Even at the 110% threshold, isn't it still possible to avoid the penalty if less than $1,000 is owed?
Again, in my case I'm getting a refund.
by Mike14
Thu Feb 17, 2022 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty, but Refund Due
Replies: 17
Views: 1738

Re: Tax Penalty, but Refund Due

yobery wrote: Thu Feb 17, 2022 4:41 pm Did you do the 2210 interview, and did it register correctly? Worst case you can request waiver
Yes, but I would be interested to see how the estimated tax payments are calculated.
It's not total taxes / 4.
W2 withholding are added each quarter to the estimated tax payments.
by Mike14
Thu Feb 17, 2022 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty, but Refund Due
Replies: 17
Views: 1738

Re: Tax Penalty, but Refund Due

brawlrats wrote: Thu Feb 17, 2022 4:36 pm Did you have a large income item early in the year, such as the sale of a business or a large investment sale capital gain? If so, the calculation is assuming you owed more tax at that time and the equal payment made early in the year wasn’t enough.
No business sale, only W2 income, interest and dividends.
by Mike14
Thu Feb 17, 2022 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Penalty, but Refund Due
Replies: 17
Views: 1738

Tax Penalty, but Refund Due

I made 4 estimated payments, equal amounts, each quarter before the due date.
Tax software is showing a refund. However, I was assessed a penalty for not paying enough estimated taxes.

I'm confused, not only will get a refund, but I thought that one could owe $1,000 without penalty.

Edit: This was caused by an issue by the tax software.
by Mike14
Sat Jan 15, 2022 10:42 pm
Forum: Personal Investments
Topic: Employer transitioning to Collective Investment Trusts/CITs
Replies: 28
Views: 2041

Re: Employer transitioning to Collective Investment Trusts/CITs

How does one transfer CITs without being out of the market? (Many (most?) 401k plans don't let you rollover even mutual funds to an IRA - the funds get liquidated first and only the cash is transferred. At least that was my experience.) It's usually possible to transfer without liquidating if 401k provider and IRA provider are the same. Some people also had success if the mutual fund issuer and receiving IRA provider are the same. I've made same day exchanges between two different mutual fund families in my 401k. That's usually a two day process, but it was done the same day. Sometimes 401k offerings change and they'll force people into other fund families. That exchange also happens simultaneously. That makes me believe that it should be ...
by Mike14
Sat Jan 15, 2022 8:33 pm
Forum: Personal Investments
Topic: Employer transitioning to Collective Investment Trusts/CITs
Replies: 28
Views: 2041

Re: Employer transitioning to Collective Investment Trusts/CITs

How does one transfer CITs without being out of the market?
by Mike14
Sat Sep 11, 2021 9:16 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

itsmeagain wrote: Fri Sep 10, 2021 7:40 pm As a further test, I sent questions via the E-Trade message system
Secure message hasn't worked for me in months, and chat always says unavailable
by Mike14
Sat Sep 11, 2021 9:14 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

SJR wrote: Sat Sep 11, 2021 8:32 pm There's a better offer which requires a call to the branch and expires 12/31/21. Lowest deposit is $500k. Works for existing clients and they can aggregate taxable and non taxable accounts. $1m would fetch $4k. Requires 12 month hold.
What are the tiers + bonus amounts, and how do you find about those offers?
by Mike14
Tue Aug 31, 2021 2:58 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Per my rep's suggestion, I opened the new account this morning by clicking on the button on the offer page. I too got the account open email but not the promotion enrollment confirmation email. My rep checked and said that the new account is coded properly and that it would take overnight for me to get the confrmation email. I just applied for the ebay offer cf3500 but did not get a confirmation email of the promo (just email stating "Your E*TRADE brokerage account is now open"). When I applied I logged in with my existing ebay credentials and opened a new account. Anyone know if the promo confirmation comes later? Anyone also try signing up for this with multiple accounts (E.g. individual brokerage and Roth?) Did any of you end ...
by Mike14
Tue Jul 13, 2021 10:13 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

jonas wrote: Mon Jul 12, 2021 11:17 am Chase offer is back! J.P. Morgan self-directed investing (ex Chase YouInvest) $300 for 100k+, $600 for 250k+
Valid until 10/10/2021, 90 day holding period. Offer on chase.com front page.
Don't see it. Do you have a link?
by Mike14
Tue Jun 08, 2021 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Cost Basis problem transfer of assets from Vanguard to Schwab
Replies: 47
Views: 6948

Re: Cost Basis problem transfer of assets from Vanguard to Schwab

557880yvi wrote: Fri Jun 04, 2021 7:36 pm No, although I have not given up. Cost basis is not established in the eyes of the IRS until an asset us sold and only the owner of the asset can choose the method, not the brokerage house. Have filed a complaint with FINRA. To be continued!
Your cost basis for Spec ID should still be intact at Schwab, as long as you don't make any additional trades (including dividend re-investments). If you transfer out to a different brokerage SpecID info should be transferred along with it.

Chase has the same problem, they show it as average, but when transferred out SpecID info is intact.
by Mike14
Sat Jun 05, 2021 8:10 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

SlowMovingInvestor wrote: Wed Nov 13, 2019 4:46 pm I was talking to a rep at Schwab about one of their bonuses, and the rep said that to get a bonus for say transferring in $250K, you need to transfer 250K in, then make sure that the 250K balance is maintained for 45 days until the bonus is paid.

This doesn't make sense to me -- market values can fluctuate. I am assuming the rep was wrong. You should need to net transfer in the amount ($250k or whatever) in 45 days.
Did you find out how the system is handling it?
by Mike14
Sat Jun 05, 2021 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Cost Basis problem transfer of assets from Vanguard to Schwab
Replies: 47
Views: 6948

Re: Cost Basis problem transfer of assets from Vanguard to Schwab

WillRetire wrote: Sat Jun 05, 2021 9:18 am Based on my experience... Mutual fund shares transferred-in-kind, from Vanguard & Fidelity to Schwab, brought with them the cost-basis method that Vanguard & Fidelity had on file.
Are you sure? I noticed that Schwab requires a paper form mailed in if you want to change the cost basis for mutual funds.
by Mike14
Sat Jun 05, 2021 6:05 pm
Forum: Investing - Theory, News & General
Topic: Fidelity DRIP Cost Basis @ Zero?
Replies: 4
Views: 856

Re: Fidelity DRIP Cost Basis @ Zero?

Fidelity is showing cost basis in their 401k account, but not in their IRA. It's really strange. No other brokerage is hiding the cost basis.
by Mike14
Sat Jun 05, 2021 3:29 pm
Forum: Investing - Theory, News & General
Topic: Fidelity DRIP Cost Basis @ Zero?
Replies: 4
Views: 856

Fidelity DRIP Cost Basis @ Zero?

My Fidelity IRA doesn't have any cost basis for dividend reinvestments (mutual funds).
Anybody else notice this?

Thank you
by Mike14
Fri Jun 04, 2021 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Cost Basis problem transfer of assets from Vanguard to Schwab
Replies: 47
Views: 6948

Re: Cost Basis problem transfer of assets from Vanguard to Schwab

557880yvi wrote: Wed Sep 23, 2020 3:03 pm One lingering mistake is that a significant asset (a Vanguard Mutual Fund) was transferred incorrectly (all covered shares bought after 1/1/12).
Were you able to resolve this?
by Mike14
Wed May 05, 2021 6:59 pm
Forum: Personal Investments
Topic: Mega-backdoor Roth Has Gains and Losses
Replies: 23
Views: 2767

Re: Mega-backdoor Roth Has Gains and Losses

Any update on the issue?
simas wrote: Fri Oct 25, 2019 5:50 pm in your example, IRS would case about
a) total amount (Gross Distribution Box 1 on 1099)
b) Contributions/basis (Box 6)
c) the difference between total amount and contributions (box 2a)
d) distribution code (box 7)
This would imply that loses are, at a minimum, retained within the tax year.

So if there are two conversions on separate days, but within the same calendar year, and the first conversion has a $5 gain, whereas the second conversion a $5 loss, no taxes would be due?
jt21150 wrote: Thu Oct 24, 2019 4:28 pm Ok, question on gains and losses when it comes to the mega backdoor roth
by Mike14
Fri Apr 09, 2021 12:26 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I previously did a transfer from Fido to Ally, and my cost basis got mixed up as average cost (even though tracked as specific ID in Fidelity), and nobody on Fido or Ally seem to be able to fix it.
Has someone successfully transferred mutual funds to Ally while keeping SpecID cost information intact?
by Mike14
Mon Feb 01, 2021 4:23 am
Forum: Personal Finance (Not Investing)
Topic: HSA Excess Contribution Withdrawal - Different Custodian
Replies: 1
Views: 207

HSA Excess Contribution Withdrawal - Different Custodian

1) Made an excess contribution at custodian_1
2) Closed account with custodian_1 and transferred funds to custodian_2

Is it possible to withdraw excess HSA contributions from custodian_2, even though no contributions were made with that custodian?

Thank you
by Mike14
Thu Jan 07, 2021 12:04 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7768
Views: 1351803

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

whodidntante wrote: Fri Jan 01, 2021 11:27 am TradeStation has a deposit promo active right now. It appears to be available to new or existing customers.
https://www.tradestation.com/promo/cash-reward/

Code: Select all

Cash Reward	Qualifying Assets	
$50 $5,000	
$200 $25,000	
$300 $100,000	
$600 $200,000	
$1,200 $500,000	
$2,500 $1,000,000	
$3,500 $2,000,000	
$5,000 $5,000,000	
I have an account at TradeStation. The platform is fine, however, I hereby aware you that TradeStation is not an "everything is free" broker. You can avoid fees but you need to pay attention to the choices you are making. Look at the types of accounts they have and don't subscribe to data feeds that involve a charge, and understand what you are able to do free of charge.
Do they accept Vanguard mutual funds?
by Mike14
Thu Oct 15, 2020 12:34 pm
Forum: Personal Investments
Topic: Vanguard - Same Day Mutual Fund Exchange (cross-family)
Replies: 10
Views: 1070

Re: Vanguard - Same Day Mutual Fund Exchange (cross-family)

alex_686 wrote: Thu Oct 15, 2020 7:15 am In a exchange you specify the number of shares you are going to sell. As such you don’t know how much money will be flowing into your account, so you can’t put in a trade ticket with the dollar amount of the new fund that you are buying.

Fund families can handle that complexity by creating a but ticket after the NAV has been struck. i.e. After the market has closed.
My Fidelity 401k lets me exchange across families (Fidelity to Vanguard, and vice versa), all in one transaction, with prices taken on the same day. I even did the math manually to confirm. So I know it is possible, but not sure if it will work at Vanguard.

Also, they let me select the exact dollar amount, as opposed to shares.
by Mike14
Thu Oct 15, 2020 1:02 am
Forum: Personal Investments
Topic: Vanguard - Same Day Mutual Fund Exchange (cross-family)
Replies: 10
Views: 1070

Re: Vanguard - Same Day Mutual Fund Exchange (cross-family)

jebmke wrote: Wed Oct 14, 2020 7:43 pm I sold a couple of funds in the spring from my brokerage account. I am pretty sure the funds were not available same day since the sale occurs at the closing NAV of the fund being sold.
That's always the case, even when selling vanguard mutual funds, but the question is whether one is able to exchange across families (same day mutual fund exchanges from Vanguard to Vanguard, or Fidelity to Fidelity is obviously possible).