Fidelity's TLH Tool

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jbsmith05
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Joined: Fri Apr 01, 2016 2:01 pm

Fidelity's TLH Tool

Post by jbsmith05 »

Am I correct that Fidelity's TLH tool only shows you the amount of gains and losses that you could use to offset the gains. Meaning it's just a sell tool - it doesn't give you an like fund to get back into immediately. So in its case it's basically setup to let your sales order sit in cash until 31 days go by and then you could re-buy what you sold. Right??
lazynovice
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Re: Fidelity's TLH Tool

Post by lazynovice »

This is news to me. Fidelity has a tax loss harvesting tool?
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jbsmith05
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Re: Fidelity's TLH Tool

Post by jbsmith05 »

lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
A bit of a hidden gem - https://oltx.fidelity.com/ftgw/fbc/ofol ... axStrategy
lazynovice
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Re: Fidelity's TLH Tool

Post by lazynovice »

jbsmith05 wrote: Thu May 12, 2022 7:20 pm
lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
A bit of a hidden gem - https://oltx.fidelity.com/ftgw/fbc/ofol ... axStrategy
Link did not work for me but I will look for it.
Topic Author
jbsmith05
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Re: Fidelity's TLH Tool

Post by jbsmith05 »

lazynovice wrote: Thu May 12, 2022 7:25 pm
jbsmith05 wrote: Thu May 12, 2022 7:20 pm
lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
A bit of a hidden gem - https://oltx.fidelity.com/ftgw/fbc/ofol ... axStrategy
Link did not work for me but I will look for it.
Try this one - you have to be logged in first...maybe this will work - https://login.fidelity.com/ftgw/Fidelit ... axStrategy
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retired@50
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Re: Fidelity's TLH Tool

Post by retired@50 »

lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
I have a tax loss harvesting tool as well, it's called my brain. I use it all day, everyday.

Regards,
This is one person's opinion. Nothing more.
SnowBog
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Re: Fidelity's TLH Tool

Post by SnowBog »

lazynovice wrote: Thu May 12, 2022 7:25 pm
jbsmith05 wrote: Thu May 12, 2022 7:20 pm
lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
A bit of a hidden gem - https://oltx.fidelity.com/ftgw/fbc/ofol ... axStrategy
Link did not work for me but I will look for it.
Link worked - but the tool is temporarily unavailable to me, reporting:
Temporarily Unavailable. This feature is not currently available for your accounts. This tool may not be used while you have open orders or when a cost basis update for a recent transaction is pending.
Which is true - I did a few TLH trades today - and have open orders for other trades...

That said, I'm curious for what this tool shows - and if it provides any benefits.

But looking at my current positions - and viewing their "lots" to see if any have "losses" - isn't very hard... So I just do that.
NewbieBogle007
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Re: Fidelity's TLH Tool

Post by NewbieBogle007 »

Does the tool alert you if you’re about to break a rule?
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anon_investor
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Re: Fidelity's TLH Tool

Post by anon_investor »

retired@50 wrote: Thu May 12, 2022 7:37 pm
lazynovice wrote: Thu May 12, 2022 7:16 pm This is news to me. Fidelity has a tax loss harvesting tool?
I have a tax loss harvesting tool as well, it's called my brain. I use it all day, everyday.

Regards,
Why does there need to be a tool? Just look at the tax lots and see which ones have losses before selling, no?
GreendaleCC
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Re: Fidelity's TLH Tool

Post by GreendaleCC »

I just looked at it. It appears to help users view and prioritize positions to sell to achieve a loss of a specified dollar amount. Nothing too cosmic here as far as I can tell.
Raspberry-503
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Re: Fidelity's TLH Tool

Post by Raspberry-503 »

It doesn't appear to warn you of potential wash sales I TLH'd some VTI into ITOT less than 30 days ago but it's showing me so VTI shares to sell.
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SmileyFace
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Re: Fidelity's TLH Tool

Post by SmileyFace »

Raspberry-503 wrote: Fri May 13, 2022 6:58 am It doesn't appear to warn you of potential wash sales I TLH'd some VTI into ITOT less than 30 days ago but it's showing me so VTI shares to sell.
Are you saying:
You sold VTI to buy ITOT and now it is showing you the option to sell more VTI?
If so - what's the problem?
SnowBog
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Re: Fidelity's TLH Tool

Post by SnowBog »

OK - link worked today as all my pending transactions have processed...

Here's my initial thoughts:
  • The initial view gives a nice summary of realized gains and losses as well as unrealized losses that could be harvested. Way better than digging through multiple "tax" pages and/or the lot details... :beer
  • That said, I'm not sure I like the "idea" of the tool - which seems focused on offsetting gains by selling losses... :annoyed
  • But you could put in a specific amount - like $1000 you want to harvest and advance...
  • The next page shows a really nice consolidated view of all lots with losses, which is especially handy if you have several accounts and several positions. Let's me see on one page what would have taken multiple pages. :D
I didn't continue further - but it looked like you could enter in the # of shares to sell - to hit your target $ above - and then presumably submit the all the orders in one transaction... But I can't see I reason I'd ever use this... Per my $1000 example above - I don't want $1000 in cash sitting in my account... I want that $1000 to be reinvested in something - so I stay in the market...

I might use this as a "quick check" to see my realized gains/losses and lots with losses. That part I did like...

But most likely, I'll continue to setup TLH as "conditional trades" at Fidelity. I usually set these up in advance. For example, if I bought 100 shares @ $100, I'd have a $1000 loss if the price dropped to $90. So, I'll setup a "One-Triggers-the-Other" trade with a stop limit @ $90 on my initial fund, and then estimate the $ of my TLH pair and how many shares I could buy with that trade (and usually leave a buffer - as I want the trade to go through) which I setup as a limit buy order.

Unfortunately, this doesn't work for mutual funds - which for me is primarily muni bonds at this point. Those I have to do as manual "exchanges" when its TLH time...
Last edited by SnowBog on Fri May 13, 2022 9:28 pm, edited 1 time in total.
Doc7
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Re: Fidelity's TLH Tool

Post by Doc7 »

Raspberry-503 wrote: Fri May 13, 2022 6:58 am It doesn't appear to warn you of potential wash sales I TLH'd some VTI into ITOT less than 30 days ago but it's showing me so VTI shares to sell.

You can sell VTI as many times as you like….
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zincTwo
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Re: Fidelity's TLH Tool

Post by zincTwo »

I wish there was a way to navigate the menus to get to the tool, instead of storing the bookmark.
flyingcows
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Re: Fidelity's TLH Tool

Post by flyingcows »

Be careful, such tools have no knowledge of your other accounts or your spouses accounts if MFJ
I have no idea what I am doing, my posts are all for entertainment purposes only
WarAdmiral
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Re: Fidelity's TLH Tool

Post by WarAdmiral »

flyingcows wrote: Sat May 14, 2022 7:44 pm Be careful, such tools have no knowledge of your other accounts or your spouses accounts if MFJ
This. TLH should be valid across all your and your spouse's accounts incl 401k and IRAs.
Raspberry-503
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Re: Fidelity's TLH Tool

Post by Raspberry-503 »

SmileyFace wrote: Fri May 13, 2022 7:03 am
Raspberry-503 wrote: Fri May 13, 2022 6:58 am It doesn't appear to warn you of potential wash sales I TLH'd some VTI into ITOT less than 30 days ago but it's showing me so VTI shares to sell.
Are you saying:
You sold VTI to buy ITOT and now it is showing you the option to sell more VTI?
If so - what's the problem?
Sorry for the confusion, I meant it shows that I can sell ITOT (VTI too. I agree not a problem)
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