TurboTax Discounts January 2023 SAVE $50 Off

My tax loss harvesting extends back over 40 years. In that time I accumulated I estimate $700,000 in losses of which I’ve spent about half offsetting taxes from gains. My experience includes losses in the mid 70’s the 82 crash early 90’s early 2000’s, 2008 and a myriad of smaller “crashettes”. Holding VFIAX and VTSAX in a taxable account, all purchased since 2013.

The amount you’re selling from one fund and buying into another is based on the prior day’s closing price and is not representative of the final trade. I’ve used Vanguard mutual funds and ETFs from the likes of Fidelity, Schwab, iShares, and others. A handful of timely transactions in prior years have saved me thousands of dollars already. I’m always looking for a silver lining, and I found one in not only having the ability to tax loss harvest a recent investment, but also in capturing the screenshots to share with my audience.

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I was able to do it on the Brokerage account and Roth IRA but I was told I could not do it inside the 457b, 401a, and 403b plans. Managing taxes is a large part of total returns over the long-haul. 2) I would sell all the “reds” as in any lots with losses.

I’ve only traded in the first two categories, as I keep my small and mid cap funds in tax-advantaged accounts. I have gone one step further in the international category, trading developed markets for European and Pacific indexes.

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• Though we haven’t seen any TurboTax online coupons or promo codes, there are tons of offers and discounts that reduce the price of the TurboTax software.
• You won’t be able to use that money to purchase the ETF until the market opens the next day (unless you keep a sizable cash “slush fund” that you temporarily replete to make the transaction).
• It is interesting how much time is spent on the Forum discussing how to save so few bucks once a year.
• Stocks In 2013 and held on from $10000 to $1000 by 2016, losing 9k.
• Purchase the company’s software during a TurboTax sale to rack up the savings.

That being said even if you don’t tax loss harvest wash sales can come into play. I have a few grants of company stock that stagger release on the last few months of the year. I generally don’t hold them all to sell together as that can mean holding a decent amount of company stock for a month. The second trigger of RSU will thus always trigger a wash sale. Thankfully it carries over to the next sale in cost basis though it is a pain to report. Also, I don’t accumulate dividends in money market fund. Again, that would be sitting on cash unnecessarily.

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You could also look at a different fund family that also has lower or non-existent minimums. That’s why Specific Identification of individual lots is important. For the past few years, I’ve made new contributions only to my tax-advantaged accounts. Both are viable options as long as you’re actually able to set up the 403 not to reinvest the dividends back into VTSAX (and your future turbotax discounts vanguard contributions aren’t going to VTSAX). The longer answer is you should be able to look at all the ETFs the roboadvisor is holding and you may be able to avoid holding them in your Roth or other tax-advantaged accounts. Second, even if you were to pay the tax later after taking a deduction now, you get the use of that money and its earnings while it’s “on loan” from the government.

• If you’re not creating a sale, there can be no wash sale.
• Vanguard customers for more than a decade had been able to get discounts of $10 or $20 off the price of popular TurboTax products, which include federal and individual state income tax preparation software.
• Just be aware that there is a learning curve when starting out, and not all features are intuitive when you get the program up and running for the first time.
• Some of the discounts require you to be a customer and some don’t.

I actually did TLH some bonds yesterday, they were down in the 5% range, yielding a couple thousand of TLH to offset some ordinary income this year. Sold BND and purchased VBIRX, changing the yield and risk profile slightly to shorter term bonds. Personally, I only invest once a month in https://turbo-tax.org/ taxable. I like to decide which asset class gets the monthly investment (that’s how I typically rebalance), so I don’t have any automated investments. Sometimes I forego a monthly investment to put the money to use somewhere else. Hoping this is somewhat similar to the question above.

So even if you’re a Fidelity customer, you won’t get the discount if you access TurboTax.com without starting at this Fidelity/TurboTax discount landing page. When using TurboTax, you may notice a charge for $39.99. This is their ‘Refund Processing Fee’ if you have opted to receive your refund by way of direct deposit instead of a check. Automatically apply the best coupons every time you checkout.

This can change in the future, but you can check out the website’s homepage for current offers. There are discounts offered throughout the years that you can take advantage of. You can learn more about costs basis here, including all the different methods Vanguard can calculate how much you’ve gained or lost on your investments.

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Interestingly, I mentioned this to my CPA this year and she had no concept of tax loss harvesting. It’s easier to avoid holding substantially identical funds in tax-advantaged accounts because auto-investments and auto-reinvestment of dividends can also wreak havoc on your plans to TLH. • To change dividend and capital gains elections on existing holdings, from the My Accounts dropdown, go to Account maintenance. Under Account profile, select Dividends/Capital gains elections and follow the instructions.