Tax lot optimizer reddit. Under Account Management go to Tax Optimizer.

Tax lot optimizer reddit Let's say I have two lots that have reached long term status. On Power eTrade -> Positions -> Select your security -> Trade -> enter numbers that you want to sell -> Preview. r/Schwab As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. You can also select individually if you want more control. I've watched the youtube video, read the crappy docs, but I don't understand. Specifically, the Tax Hi All, For a personal interest project, I created a website to help people make more optimal RRSP contributions. ET on the settlement date of What you are looking for is called "tax optimizer" or "change tax lots" (TWS). Find the ticker you want to sell. Tap to expand and then tap the I would like to get detailed tax lot information for all my open positions (open date, quantity, cost basis). Before moving to Canada, I transferred funds in Scotiabank and some of it were moved to a Guaranteed Income Optimizer account with 5% interest for 1 year at monthly payouts. Reply reply This is an un-official USCG Reddit page. This is a "Flexible Premium Variable Life Insurance Incentive Life Optimizer II, Series 151 from Equitable Life Operations". I have been investing daily-weekly for over a decade and thus hundreds of lots. I see on the Tax Optimizer that you can do this for trades going forward (or from the same day) but not for trades going further back. I sold my RYLD a little while ago when it got up above $18. Don't post questions related to that here, please. Thats the only thing I could find that could give some of the info. And they’re doing better with the token value. Currently I'm running a 5600x PBO maxed out +200MHz auto scalar. It started But Tax Lot Optimizer always works. Tax Optimizer Users' Guide Overview. you can change your Tax lots don't make a difference when it comes to wash sales. For years I have been warning my friends that the TCG optimizer is a TCG profit optimizer. If you close or exit a position: Is there a time limit after (during Welcome on /r/stocks! Don't hesitate to tell us about a ticker we should know about, market news or financial education. I live in a high-tax location (NYC) in high brackets (federal: 37%; NYS: 6. Overall I find it is the best place for MTG cards and despite their optimizer being complete shit I will still use their service. Mmf just has lower tvl locked for the time being so rates are higher. So the broker doesn't sell my old shares for a loss. 0 coins. The next day I got an email saying to call them. If you don't choose specific lots it will default to however you chose in the settings. What I used for this test: two people; mine and my wife's simple return for the year 2021. FIFO - First In First Out (this is selected by default) LIFO - Last In First Out High Cost Low Cost Tax Lot Optimizer. Instead of owing taxes on a 6k gain I would owe taxes on a . I am assuming you had short and long-term quantities in the same name and accidentally sold the long term shares of your position. I chose last in/first out to minimize my taxes. Any guidance is appreciated. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity You can change your tax lots under "Tax Optimizer" afterwards Reply reply The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. If you pull up tax optimizer, click on the "YTD Summary" tab at the top. Manage your stock, option, bond and warrant gains and losses for tax purposes with Tax Optimizer: Select one of several tax lot-matching methods to change the default tax lot-matching method for your account, for the current day or for a specific symbol. Just give it Posted by u/Apprehensive_Ad_4020 - 4 votes and 3 comments Just did a 2021 return comparing TurboTax and WealthSimple. I would simply like to sell specific lots. As far as I remember choosing tax lot optimizer was the way to get specID, I just couldn’t remember fully when I posted. ID. Edit: You should set it to either Tax Optimizer or Specific ID btw. So for that I have to change my cost-basis from Tax Optimizer to LIFO or Sell low cost shares first. It seems to take maybe a half hour or so after the trade before it shows up in the tax lots. I even downloaded the latest Java and instructed it to open (on Windows) using the latest Tax Lot Optimizer™ is the system. After the sale, I wanted to see the lots sold in the transaction. Many years ago I spent lots of my tax return on a top of the line laptop hoping I could make it last 10 years or so. Ouvrir le menu Ouvrir l’onglet de navigation Retour à l’accueil de Reddit. Top. Most were saying how easy it was to use. Hope you all are well and safe. Generally speaking any investment that you hold for a year or more which has gains is subject to long term capital gains tax which is usually at 15% (lower or higher if you have little or a lot of income). So you caused a wash sale by selling high priced shares for a loss and also bought shares within the 30 day Secondarily, for non mutual funds, our cost basis options are "Tax Lot Optimizer" which means if a trade is placed Schwab would look to take losses first (Short term then long term) then long term gains and short terms gains last. When I calculate the amount being deposited back to my chequing account monthly and multiply it by 12, then calculate the percentage gain, it is at 2. For most folks this would be the best default method to use for sales. I believe they are FIFO. I'm pretty confused about how to manually select tax lots when creating a sell order. but some like Schwab might use a tax lot optimizer that sells losses first. Credit card optimizing is somewhere between a hobby and a passion for people who engage in it. I called. com find submissions from "example. You shouldn’t be selling your gains unless you need to spend the money or move it somewhere else, are rebalancing, reallocating, tax-gain harvesting. It's telling me that FSNXX, the premium NYS muni money market, wins on an after-tax basis, edging out FDLXX for my tax bracket. More Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. "First in, First Out", "Last In, First Out", "High Cost Lot" and "Low Cost Lot" are the other options. politics, visas, green cards, raids I never use tax lot optimizer. g. First it sells short-term losses, then long-term losses, then long-term gains, then short-term gains. Coins. View community ranking In the Top 1% of largest communities on Reddit. Reply reply Look for the underlying ticker in tax optimizer. The tool will also tell you your gains / losses to date. When you’re tax-loss harvesting, you’re likely doing none of those things. 95% vs 5%. Stitchers Of Reddit: An inclusive sub where all stitchers are welcome to share their stitch craft & find community amongst the good stitchy Folx of Reddit. I sold some stocks yesterday and wanted to specify lots myself. com" Then you just change your tax lot method to whatever you prefer. Any way to select tax lots from the browser? Or is the Tax Optimizer java app necessary? Seems weird to have to use a separate desktop application. There may be situations where this is the goal. I decided to go to the tax optimiser and selected "ST Maximer" and saved changes. 05 shares of META bought over time when it dipped. " That option sells lots in the following order: Short-term When you select "sell" it lets you choose between first in/first out, last in/first out, high cost, lost cost, specified lots. Tax Lot Optimizer comments. But you can call in to broker services to be sure. From the Reports menu select Tax Documents. and International, Federal, State, or local. I once tried calling into their cost basis team to see if they would fix it SIP will activate tax loss harvesting (TLH) if you have $50k and enabled the option. This is really finance 101, i. I think you only have a day or two to change it, as in before it settles. But you can force it to FIFO/LIFO or specify which lots. The first two options will work directly with the You need an FA. Wash Sale Tax Yes I do it all the time. In my old brokerage I could select what shares from what lots I wanted to include in my sale, which allowed me to control my long term positions while doing some moderate trading. Vanguard Spec. The only point of the post is showing people how to use diff tax lot methods. I'm considering funding a life insurance policy that doubles as a tax efficient investment vehicle. Genuinely good to see Vanguard actually implementing some useful features instead of just breaking their site these days. 15 federal tax rate), even though the order says to find long term gain first (step 5 vs step 6). Yes: you can change tax lots through your account settings or by calling customer service and giving them the trade specifics (symbol, trade date, shares traded, and preferred re-allocation). No. Tried on both mobile app It isn't counting all the open positions. I've done this on occasion. All in all, it looks like the data is in there, but a lot of manual calculations are necessary in Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. • If you're with IBKR U. You can also pick specific lots to sell if you The Tax Lot Optimizer uses an algorithm to calculate the optimal way to minimize the tax impact of each sale. This is what I executed today- My security cost price 1x. But you would need to keep detailed records. Features: Import your Player Data Export (from in-game Options) or Skill Tree Export (from in-game Saved Builds) Choose between 6 Damage types and 3 Gold types Toggle Skills to select or deselect skills you want included when optimizing . I was trying to do some small trades and exploring this feature. Sometimes, I actually want to harvest a taxable long-term gain due to possible changes in tax status the following year. Might be worth a look and/or it might be worth giving Schwab a call with your question. Added a ballpark gold ratio adjustment when you import stats from in-game. I have tried logging out/in but still nothing. com, you are no longer able to edit the cost basis after a trade in the order status page. T. View community ranking In the Top 5% of largest communities on Reddit. Should help a lot. With micros adding panels increases your power back to the grid which can cause you to have to redo your electric panel or wiring. Keep in mind this will change (even after the end of the year) if you trigger a wash sale. The wash sale rule in a sense exists in part to prevent people from gaming the tax lot system this way. Does anyone know if you can change the tax lot per trades for historical trades (for example from the beginning of this year). What I don't understand is: why the optimizer algorithms don't always assign all lots Looks identical to Schwab's "Tax Lot Optimizer" method. I want to tax optimize by highest price and sell all lots above 240 which add up to about 0. I am aware of the T+2 settlement rules, Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. If you don't specify, the FIFO method picks the oldest tax lots first, which is good for selecting long term call gains (lower tax rate), but for a steadily rising stock, bad for selecting for the tax lots with the greatest gains. Post by Nate79 » Thu Jul 08, 2021 4:41 pm. 63% vs 5. When creating sell order in mobile version(Android in my case), there is an option "Tax Lot Method" that only shown after clicking on the gear at Will schwab's TLO default to selling the long term shares, or is it smart enough to choose the short term shares? Nobody's responded to this post yet. They were right, I got an extra $250 back. Members Online. If the brokerage reported to the IRS lot A shares were sold, and you report lot B on your taxes, later when you close lot A I'm at a loss on how to use the Tax Optimizer in TWS, not the classic. Do you find software generally the same or some would be better than others in optimizing your filling to claim everything that you are eligible for Unaffiliated subreddit of Interactive Brokers, a popular multinational brokerage firm. I just sold 1 share of a holding this morning to test it out, opened Tax Optimizer on the phone app and still got nothing. The entire point of my post is that this functionality has, indeed, changed. Or check it out in the app stores Schwab has a great checking account, and I like their tax lot optimizer feature. The much wow innovative crypto-currency. “Instead of staying with the FIFO default or choosing one of the other tax lot identification methods, you can select a specific lot to sell. I only assume that everyone on Reddit who asks a country specific question without specifying the country means the USA. Totally depends on what kind of a "tax play" you want to run during any given tax year. During the validation Wealthsimple Tax flagged my return to say "You might qualify for the new Canada Training Credit". . For example, Schwab Tax Lot Optimizer chooses in the order of short term loss lots, then long Also, having to set the number of shares you’re selling instead of it just being based on the number of positions you select is kind of cumbersome (esp when tax loss harvesting). In addition to the other (correct) answers, as an FYI Schwab has a method called "Tax Lot Optimizer" to intelligently pick your lots when you sell to minimize taxes. If you have the tax lot optimizer method it should sell the ones with the most loss if I'm correct. I need to export them into a spreadsheet as there are too many to manually enter by hand. If your post doesn't show after 6 hours, message the mods. Cost Basis Method. To open the Tax Optimizer: Step 1: Select the current or prior trading day from the 'Select a Day' drop-down Step 2: Select Launch Tax Optimizer (v5. A diverse community of players devoted to Magic: the Gathering, a trading card game ("TCG") produced by Wizards of the Coast and originally designed by Richard Garfield. If you’re under 40, VUL is not really necessary unless part of an estate plan and you already have a lot of assets and liabilities that you’re trying to provide downside protection bc you have kids or a spouse making a lot less than you. The Tax Optimizer lets you use Specific Identification directly by letting you change the tax lot-matching method for a specific position, and This is by far my biggest post on Reddit! I've compiled some of the resources suggested but it appears that the most popular free tax filing this year is Credit Karma. He is now relegated to doing important things on his computer at work, his cell phone, or if he really needs to access the internet on my computer I watch him the entire time. Because vvs came from the particle b accelerator the initial token price was a lot higher and people were more comfortable sticking their cash in. Apollo was an award-winning free Reddit app for iOS with over 100K 5-star reviews, built with the community in mind, and with a focus on speed, customizability, and best in class iOS features. 60 gain x 0. IncentiveLife Optimizer III . Cross You're just going to have to manually calculate it looking at the lots. So sin a scenario where Id bought 100 shares in a company over a year buying 5 every time therefore Id have 20 lots of 5 shares, all bought at different prices. Using schwab. Why would I want a margin account? We have Schwab . Then you can pick which lots you want it to have delivered, or just pick a predefined option such as maximize short term loss. It will also automatically calculate your CAGR (compound annual growth rate) on your unrealized gains. Questions about selling a stock I hold for a long time but also bought some shares recently with Schwab When you sell, you choose the "cost basis method. I found the pricing to be a lot more fair and the software more transparent. Good mix of taxable/cash and pre tax dollars, so there’s plenty of assets to source income need, pay taxes on conversion, and keep tax bracket lower while trying to optimize the conversions. Please note that as a topic focused subreddit we have higher posting standards than much of Reddit: 1) Schwab doesn't give me the option to select specific lots. Get the Reddit app Scan this QR code to download the app now. on the day of sale and probably also at least T+1 (may not work for T+2 from next week but did on TDA/Schwab at this time) go to orders, filled, cost basis and select FIFO, LIFO, High Cost, Low Cost, Tax lot optimizer, specified lots. 25 because the Russell 2000, though it has been hot recently, may not fair so well in the event that the Fed decides to bump up rates one or two more times this year. Then I can pick what shares I want it associate with the trade. FlexQuery, open positions with lot details. 876%) and am looking at the MM optimizer spreadsheet, on the Fidelity tab (as I'm a Fido customer). For most people Tax Lot Optimizer is best. I use TLO as my default tax lot disposition method for all my taxable accounts. There is a fee because there are real live people who, btw, are fairly paid, behind the scenes making everything work with the CRA, it takes a lot of due diligence to stay on top of the latest tax laws and calculations. You can even choose a matching algorithm between FIFO, LIFO, Lowest Cost, Highest Cost, and "Tax Lot Optimizer" (match losses first, short term to long term, then do gains, long term to short term). I have tried to sell 0. You should see this message in RED "We have selected offsetting lot(s) based on your lot preference of Last In, First Out. People confusing my post trying to argue about all kinds of other things it has nothing to do with. If you would like to select a different lot, please place your trade on the E*TRADE Website. It's default is tax lot optimizer. The IRS is experiencing significant and extended delays in processing - everything. I’m a tax professional, and when I haven’t been working, I always used Tax Act. The strategy with tax loss harvesting is to purchase something similar or can participate in the market upside during Similarly, is the tax optimizer the only place to view individual cost-basis for all my holdings/lots? Tried to get a report to show this but it was still combining my lots. Added new JSON files for UltraCam Beyond to keep support for older versions as well from older Optimizer versions. Welcome to Destiny Reddit! This sub is for discussing Bungie's Destiny 2 and its predecessor, Destiny. I immediatley bought the stock back and then emailed Schwab if there was anything they could do to get my tax lots back. You should first sell from the 1yr+ lots to avoid the higher short-term capital gains tax rate. 0. Lots of non USA posters ask and answer questions here. No hate to WS but they are newer to the game, they are an investor platform, and I am unsure they could give complete tax advice. I've been trying to figure out how to sell shares by lot. m. In IBKR Mobile, tap the More menu in the bottom right corner, then swipe up to find Account Management. In general, the goal is to sell investments for losses first (short-term losses, then long-term losses) and gains last (long-term gains, To select specific lots, one has to call a rep. Share Link to copy unique url to clipboard and share the use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example. It will indeed save you the most money in taxes = more money in your pocket now. Or, I may want to harvest a short- or long-term gain versus a carry-forward loss. 30 gain x 0. Or check it out in the app stores &nbsp; There's a feature called Tax Optimizer, which you can use after you sell shares to choose which lots you want those shares to considered part of. It will not let you pick a specific lot but there are various options under Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Premium Powerups Explore Gaming Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Hi everyone. Tax lot optimizer (sell loses first) Specified Lot Lots are how companies keep track of the shares, cost, and date you purchased the asset. Then if I navigate into Tax and try to open Tax Optimizer it'll fail to load because Wealthsimple tax was recommended by a lot of the accountants I know who are no longer allowed to use their firm's software for their own returns. Nate79 Posts: 9645 Joined: Thu Aug 11, 2016 11:24 pm Location: Delaware. , after assignment, you should be able to right click the position in TWS and pick 'change tax lots'. 01%, FMOXX does better if your federal tax rate is ~27 pp higher than your state tax rate, ~31 pp at yesterday's 2. (T+2) to change the tax lot matching method to be reported to the IRS. Please note that as a topic focused subreddit we have higher posting standards than much of Reddit: 1) Please direct all advice requests and beginner questions to the stickied daily threads. MF are marked as Tax Optimizer Thanks in advance. High token price means high apr, but then dropped fast due to high tvl. Tap to expand and then tap the Tax Optimizer icon. Expand user menu Open settings menu. jobs and has a small part-time job. And then the security starts to go up in price and now 3 lots are profitable and 2 lots in the red. e. (this isn't 100% They take a lot of effort to build and maintain, but the actual demand for them just isn’t big enough to justify the hassle. I've been buying QYLD and holding my XYLD. Could change for the same person over the years. Overall, FMOXX probably better if you're in the highest tax bracket and a low-tax state, FDLXX clearly better if you're in the 24% bracket or lower, and kind of a wash in between. Yes there is tax drag in a taxable account but it is a lot less drag than the money you are spending to line the pockets of the whole life insurance company and its Manage your stock, option, bond and warrant gains and losses for tax purposes with Tax Optimizer: Select one of several tax lot-matching methods to change the default tax lot-matching method for your account, for the current day or for a specific symbol. Internet Culture (Viral) Amazing In IBKR, I see the tax lot optimizer, but i don't see the ability to CHOOSE which specific lot you want to sell. The tax rate on long-term capital gains tops out at 20% for single filers who report over $518,900 or more in income in 2024; for married couples filing jointly, it's $583,750. 03): Totally rewrote spend all SP function, now will respect ignored skills, locked trees, and should act a lot smarter on low SP builds. comments sorted by Best Top New Controversial Q&A Add a Comment. My wife had several T4, she changed F. Change the lot-matching method on the fly to immediately see the effect on your gains and Tax Optimizer. T4 + RRSP + TFSA for each of us. Its called the IncentiveLife Optimizer III. Under Account Management go to Tax Optimizer. The automatic importer which scans your item data from the game can be run using an emulator or M1 macbook or a phone. The Tax Optimizer lets you choose a method until 8:30 PM ET on the day of the trade. xx. I find that many people don't consider aspects like drops in marginal tax rate and the impact of higher government benefits with reduced net income from RRSP contributions I'd really appreciate any feedback on the site and if it is considered to be useful, if information it Does the Tax Optimiser lot allocations also reflect/update in the home dashboard and portfolio views? Hi, I've recently moved from a very old brokerage system to IBKR. I don't intend to sell Well, the longer it takes to get the tax portion reinvested, the greater a penalty is created. Also, Schwab has a signup bonus. (v5. Please see the very simple apple example I added towards the top a few paragraphs down. 2 cent Anybody try to use it these days? I can't get it to open. The IRS is experiencing significant and extended delays The company's mission is to maximize the value and utility of digital assets through our comprehensive product suite including advanced trading solutions, liquidity aggregation, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, as well as the Nexo Platform and Nexo Wallet with their top-tier insurance and military 19 votes, 28 comments. 9 shares. Whoever is selling you this is probably working on commission if they’re not your advisor already. I wanna control which specific lots to be sold by using Tax Optimizer in IBKR website, but it tells me that I've passed the cut-off time. schwab has a tax lot optimizer setting that i believe is default, that will do this for you You can specify which tax lot is sold, when you sell. From Portal, click Performance & Reports > Tax Documents > Tax Optimizer – Launch Tax Optimizer I normally run my taxes through a second program just to make sure, and this year I used Wealthsimple Tax as I already have an RRSP account with them. " Posted by u/kg7272 - 7 votes and 7 comments Posted by u/kg7272 - 1 vote and no comments Get app Get the Reddit app Log In Log in to Reddit. Is there a way to generate a report for that? I know I could look at the tax optimizer for the specific instruments, but its cost basis information is slightly off, because it shows cost basis per share, rounded to full cents. However, one default method that they offer is called "Tax Lot Optimizer. Open the Tax Optimizer, our Java-based application that lets you change tax-lot-matching methods and see the impact of those changes on your profit and loss. There are three possible matches for Sale 2: Lot 1 would result in a long-term gain of $25. 15 years, the lot chosen might be different. Stop by and see what's going on in the fleet, or ask us a question you might have But for 99%+ of your withdrawals, Schwab Tax Lot Optimizer is likely the ideal choice. How does wealth simple's 'tax optimization' work? I'm fairly certain it's just added to marketing material as something that sounds "Gee Whiz" and "wow tax savings!". I can't think of many scenarios where you'd want to do something different than what the Optimizer picks. 17 cent gain and . Schwab has a "Tax Lot Optimizer" method that is wonderful, it automatically picks your tax lots so as to maximize your tax loss A subreddit for Etsy sellers on Reddit to collaborate and discuss techniques and experiences selling their products and building their stores. 81%. The client is under 60 and retired. Forward: I buy and sell A LOT on TCG Player. Since option trades settle faster, you should do it by Monday. Just saying. Tax optimizer keeps hanging . Choose the lots you want to sell. BUT they could get my tax lots back. I was told they could not "bust" the trade. The last 2 days I have been selling VTI and VXUS and only selecting lots that showed unrealized losses, in an attempt to 0 out my gains from earlier this year and reduce my income by $3K. Also, I don't see a way to sell by specific tax lot. Currently use eMoney, but have not spent a lot of time with it from the standpoint of illustrating roth conversions. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. All core -30mV In this example, the Tax lot Optimizer and specified lot methods produced the lowest taxes due of $600 (in green) compared to the least tax-efficient methods of FIFO and low-cost with taxes of $1,350 (in red). Other tickers( the ones I didn’t sell) seems fine. The tax optimizer correctly shows the lots I've purchased on the right, but no matter what I do it never displays any available trades. The only possible long-term loss for Sale 1 is Lot 2, so Sale 1 is matched with Lot 2 for a long-term loss of $15. Determine how many shares have a loss, and just let it do its job. r/magicTCG. It is often best known for its trader workstation, API's, and low margins. Lot 4 would result in a short-term gain of $5. $200 / Gain: $100 Lot B: Cost Basis $150 / Current Value $200 / Gain: $50 From a strategic perspective, is there any reason to sell Lot A vs Lot B? Or Yesterday I tried to open the Tax Optimizer on my phone app (Apple) and it just closed out of the menu without opening anything. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. Sell high price for tax optimizer I have 5. The highest combined state The top take-away is that if you are not paying tax to the government, then you are paying the tax to someone else. I started contributing in Jan 2015, for $16,666/month. if I need to convert currencies, Then I import it into Excel and use either Professor Excel currency converter (free) which pulls Yahoo data or do a lookup function on a table of pulled historical quotes up to the first date of the oldest open lot in the ibkr flex report. 85%; NYC: 3. If you've sold all your 1yr+ lots and still need/want to sell more stock, you should now sell from the youngest lots first, so that the ones that remain have I bet you sold higher priced shares using "Tax lot optimizer" setting rather that LIFO which would have sold your newest shares. Or check it out in the app stores &nbsp; &nbsp; TOPICS. Also without any sales I can't even access the mobile tax-optimizer to see lots. Average price? Thanks for responding. Or check it out in the app stores Tax Optimization Question . I always choose the lot I want. Otherwise, you can do a report on all trades and compare the prices to the current trading price, which sucks yes. What I usually do is after the trade, I right click the ticker in TWS and pick 'Tax Lots'. Use the tax optimizer to select the tax lot. Related Topics Interactive Go to your account. On the right hand side under Tax Optimizer, select your Account Match Method from the drop-down and press Save Changes. Yes, you can report different lots on your return vs what the brokerage reported. Yes--Tax Lot Optimizer prioritizes taking losses, then long-term gains, then short-term gains, in that order. I'm guessing a lot of these robo-adviser accounts are RRSPs or TFSA where tax loss harvesting is a moot The optimizer app itself can run on a Windows or Mac computer. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity I was going to go with FIFO to get the long term capital gains off my plate but saw "Tax Lot Optimizer" which sounds like it could be a good option? Or should I go for a more cautious approach and sell off chunks in a quarterly fashion (4-6 quarters), selling High Cost first? I'm truly a ship without a rudder. I went and checked Studio Tax. Change the lot-matching method on the fly to immediately see the effect on your gains and At end-of-October 7-day yields of 3. Tuesday might be too late. TLH will be disabled if assets drop below $40k and will be reactivated when your assets reach 50k again. I'm in the same boat. Thank you I know you can view your tax lots in the Tax Lot Optimizer but you can only view them. I figured I needed to make a sale first. 9 or 1 share and got this message. 22 federal tax rate) can sometimes be better than a long term gain (e. Whats Your suggestions about running Curve Optimizer. NO FREE LUNCH. When you've got a reason to deviate from it you would hopefully know why you're doing it. It always chooses, in the following order: Short-term losses Long-term losses Long-term gains Short-term gains Check to see if your broker has a similar option available. Lot 2 would result in a long-term loss of $15. Then i met my husband. With string inverters (Solar Edge) you design your system and get approval for a 1 to 1 ratio 10Kw inverter to a 10Kw array. In Trader Workstation (TWS), use the right-click menu from a position and select Change Tax Lots. I went to Menu -> Account Management but it just pops up the web dashboard. 26. Added a new JSON parser for TOTK Optimizer presets. A very basic example, assuming tax rate at 30% on contribution and withdrawal: $10,000 contributed, generates $3000 refund $10k grows to $30k, at withdrawal the Has anyone heard if or when clients can sell Specific Lots of Mutual Funds online? Rather do it online instead of calling in to make the trade. Not the Schwab has a “ Tax Loss Optimizer ” option when selling. The Cost Basis Method (CBM) determines how non-option closing transactions choose which of your shares to sell, whether it's First in, First out or you use the Tax Lot Optimizer™ to have the software figure out the most beneficial cost basis configuration. You may select your specific lot from the day following your trade execution or, at the latest, before 11:59 p. And pretty sure you can actually change it two business days after the trade for US stocks. I A lot of redditors use throwaway accounts for their tax questions, so if you don't see your post right away, this is why. This is a taxable account and you want to take profit. The IRS is experiencing Go to Sell Shares, then you'll see Cost Basis Method. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. Add your thoughts and HIFO is a different method than Fidelity's Tax Sensitive of Schwab's "Tax Lot Optimizer" choice. The Tax Optimizer is a tool available within Client Portal that lets you manage your stock, option, bond, warrant, single-stock future and mutual fund gains and losses for tax purposes. I had a query on Tax Optimizer ( I use IBKR). Re: Schwab Tax Lot Optimizer v. TAX 2020 You should open the tax optimizer tool and configure it to sell your highest cost tax lots. However the Tax Optimizer keeps hanging , showing loading indicator all the time for the ticker I sold. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your Fidelity's tax lot trading system is not working properly. If the 2 lots are sold that are in the red, this will create a wash sale and change the cost basis of the lots that are in the green. " If you select Specified Lots then you choose which shares to sell and the taxes are based on the difference between Because tax = applicable tax rate x per share gain or loss, a short term gain (e. Filter Open Lots by date or price by tapping the In Trader Workstation (TWS), use the right-click menu from a position and select Change Tax Lots. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from I sold shares of MSFT and selected Cost Basis Method: Tax Lot Optimizer. Consider the motives. They are federal and state tax exempt so if you are in a high tax bracket you save a lot in taxes. Click on the > symbol to the left of the ticker. Lot 3 would result in a short-term loss of $5. But please, read the sidebar rules before you post. xx for my last purchased lot and it was trading today at 2x. Notice how the smallest We would like to show you a description here but the site won’t allow us. Don't worry about the message, if you chose specific lots, that is Got it, and thanks for mentioning that. SIP also use an Tax Lot Optimizer (TLO) cost basis by selling lots in the following order: Short term losses Long term losses Long term gains Hi guys, It's Feb 2 today, and I sold some lots of QQQ on Jan 31. S. If any of the orders on a given day aren't fully matched to a lot by the chosen algorithm, the list of orders will show "x of y" (x<y) in the "matched" column and that y-x will be shown in the "unmatched" counter. 03): Added preview builds to save/load build list and full build list page! Bugs:. If you plan on holding the rest for another 6 months vs. does that mean On Tuesday, right click and “select tax lots”. Added a new Advanced tab, this tab holds a lot more We would like to show you a description here but the site won’t allow us. Fidelity's "Tax-Sensitive" method factors in these. An algorithm can never fully optimize your tax unless it knows what you are going to do in the future. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. The tax-lot optimizer isn't always what I want. 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