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Fidelity Tax
- Fidelity tax form advice I've moved to US on L1B visa. I am confused if I should be completing W-8BEN or W-9. Could you please point me to some resources that could solve the doubt? I've come from India. I'm on US payroll. Fidelity displays this on the portal. "Based on the information you have provided, you appear to be a
- Fidelity --> TurboTax for investments tax Does importing all investments from Fidelity into TurboTax actually work? Does anyone have any experience with this or any tips thank you TC 300k
- Fidelity mixing after tax and pretax 401k I am making both after tax (with roth rollover) and pretax contributions to my fidelity 401k. I see a single balance for all my contributions. How does it separate tax free and taxed capital gains in future? Even dividends are being reinvested in the combined account. Is there a way to see what part
- vote Poll: RSU Sell to Cover Double Tax? Fidelity Wrong? When my RSUs vested, I sold to cover the taxes. Now, my W2 shows the value of all my new RSUs (box 14) and it doesn’t seem to give me credit for the RSUs I sold (taxes to cover that income). My withholding on the W2 doesn’t reflect the RSUs I sold to cover (money I basically never got). But, when
- Amazon RSUs sold for taxes, Fidelity 1099b shows no withholding Had a stock grant in November, and 5 RSUs were sold for taxes. I’m told both the income and withholding are reflected in my W2. So why has Fidelity issued a 1099b with only the sale amount? There’s nothing on there about the withholding towards taxes, so it looks like I made an additional 17k. If it
- Does Fidelity automatically withdraw taxes from Stock dividends? Might be a basic question, but I can’t find the answer by just googling: Do I need to pay stock dividends taxes during tax return or does Fidelity withdraw it automatically?
- How to move pre tax 401k fidelity to vanguard pre tax 401k My GF's company has only fidelity option for 401k. Is it possible to directly send pre tax 401k to vanguard? If no, can I move pre tax 401k money from fidelity to vanguard ?
- Fidelity auto rollover After-tax 401k to Roth IRA Can you do it? I saw the option to do in-plan conversion, which means AT 401k will be converted to Roth 401k automatically. But to IRA? I know you can call fidelity every paycheck to tell them to do it, but I’m just too lazy to do that.
- Backdoor - IRA to Roth conversion steps on Fidelity of post tax 6k Blinders, Noob here with Backdoor Roth, let me know if this is a viable option for converting post tax amount of 6K as Roth IRA rollover. I am not eligible to contribute directly to a ROTH ira account 1) transfer (post tax) 6K from a savings account to traditional IRA account(Fidelity) 2) open Rot
- Roth IRA and Roth 401k conversion @ Microsoft Fidelity I haven't contributed any amount into roth IRA in 2022. 2022 - 401k limit is 61,000 I maxed out pre-tax 401k: $20,500 Msft contributed: $10,250 -----—--------------------------------------- What left is: $30,250 Here's my next steps: 1. OPen a traditional IRA with Fidelity - > Transfer 6k fro
- Fidelity 1099-B How do you enter the transactions in your Fidelity 1099-b report in your tax return? The supplemental section. For both RSUs distributed and all buy/sell transactions Quite new to the taxes, any help and tips would be appreciated Thank you #tax #taxes #rsu #fidelity
- vote Fidelity to Vanguard? Recently found out that Vanguard ETFs are more tax-efficient than Fidelity. I have FSKAX, FXAIX, FTIHX in 401k, roth ira and taxable accounts, not that much money in them. (@Fidelity broker) Should I restart with VTI and VXUS, I plan 80% VTI and 20% in VXUS in taxable account. (start buying Vangu
- RSU tax withholding Is it fine to keep the default option “sell to cover” taxes on Fidelity? I do not want any tax liability after reading some horror stories here
- Roth or pre-tax 401k I am early in career and MSFT only contribute to pre-tax, is it better to do all Roth or mix of 50% Roth and rest pre-tax. I pay fidelity to manage my 401k investment. What index funds in fidelity are good for medium and low risk? married, #401k #msft #fidelity TC: $195k
- RSU Tax 😭 Do I have to add the information of the supplemental tax form from fidelity on TurboTax? The RSU is already listed as other on W2 and if I add the proceed amount it shows the proceeds as capital gains and I owe like $5000 more because of it even though the RSU was already taxed at Vest. I also did n
- RSUs Vested Just got some RSUs into my fidelity account minus taxes that were withheld. I’m looking to sell. Does anyone know the other taxes that I will need to pay ?
- Missing cost basis on 1099 from Fidelity Hi all, I recently tried importing all the tax forms from my Fidelity brokerage account into TurboxTax and realized that Fidelity did not report my short term cost basis for one of my accounts and was wondering if there was a way to update it when filing taxes using turbo tax? This is currently cau
- Tax on RSU My fidelity account shows that I’ll be taxed at 40.9% when my RSU vest? Does this make sense? I thought these should be taxed at our normal income tax. Can someone please help me understand? TC: 290k #tax
- Backdoor Roth I’m confused after talking to someone from fidelity. Are the 6k I transfer from a traditional IRA (which I opened for Backdoor Roth only and has no other funds) to an IRA Roth taxed again? If yes how much is it taxed? The 6k will be post tax money as I will initiating it from mu checking’s account.
- vote What to contribute after max out Pretax 401k? MICROSOFT Fidelity There's 2 other options in Fidelity which are 1. ROTH 2. AFTER-TAX (NON-ROTH) What percentage should i put in? I don't need extra cash for expenses. Also, what option to choose for "in-plan coversion" vs "in-service withdrawal" Already setup max on hsa, espp. Base 158k Thanks
- vote After tax 401k/mega backdoor With MBD there are two options: 1. Convert after tax 401k contributions to Roth 401k (Can opt in to automatic conversion on Fidelity, Vanguard, etc.) 2. Convert after tax 401k contributions to Roth IRA (Manual process by calling agent on Fidelity, Vanguard, etc.) Which of these do you do and why?
- vote Former employer 401k. Pick best option for this scenario! I have ~20k in previous employer's fidelity 401k account. What are best action items considering current market, tax implications, etc.?
- Traditional IRA Hi! Just the way my employer funds my fidelity 401k with pre-tax dollars from each pay-check, can it fund my fidelity traditional IRA (yet to be set-up) as well?
- Fractional stocks on Morgan stanley and fidelity Why can't morgan stanley and/or fidelity allow fractional stocks? If they do, sell to cover tax for Amazon RSU wouldn't be as bad! @Amazon #RSU #morganstanley #fidelity #amazon
- Mega Backdoor Roth IRA question For those whose companies support this benefit, is there something you have to do (like call fidelity to enable roth in-service conversion) after joining to enable this? Or is it as simple as start contributing to both pre and post tax in Netbenefits (for Fidelity)? TC: 450k
- vote What’s your stonks portfolio at? Share what % your fidelity/ally/robinhood dashboard shows you Blind tax: yoe 6, 230k
- Filing tax 1099-r for 401k after tax to Roth in plan conversion I have been using in plan daily conversion to Roth for after tax 401k contributions in Fidelity. On my 1099-R, I see taxable income reported. Code is G. How does one report this ? The conversion is between two aftertax accounts, from 401k after tax to roth (which is after tax) within plan, done dail
- Roth in plan conversion Question for Microsoft and LinkedIn people: how does your Roth in plan conversion shows up on your fidelity statement? I just maxed out my 401k and started to contribute to Roth in plan conversion. The amount appears on my fidelity as an addition to 401k. Which takes it over maximum allowed. I was e
- Back door Roth on fidelity help Can someone tell me how to turn my after tax non deductible IRA contribution to my Roth? Want to make sure I don’t owe any taxes or suffer early withdrawal penalty. This is converting the contribution already in my IRA and transferring it to Roth There are 2 options that say 1) I want to pay taxe
- Amazon RSU vesting option selection on fidelity Which option to choose? I don't want fidelity selling all my shares on the vesting date. I don't mind selling some of it to cover the taxes. Are there any benefits for choosing one over the others? Blind tax: TC 180 Yoe 1.5
- Changing broker with stock already in margin Can I change from fidelity to ikbr because fidelity is charging me 7% interest on stock loan and ikbr is charging like 2-3% without selling my stocks I am in loss so cannot sell. If sell and rebuy I cannot claim loss for tax. .#personalfinance #investments
- 401K account tranfer from Empower to Fidelity Hi, I am changing my job and my new employer is offering Fidelity 401k. I would like to transfer my Empower 401k account to Fidelity 401k account. I do have pretax and Roth contribution and also money is being invested by professional. Is it possible to transfer my 401k to Fidelity ? Any tax impli
- Exceeding $57k 401k limit between 2 employers? In 2020, I contributed $19.5k to a pre-tax 401k with Employer A. I left Employer A and rolled the plan over to my new Employer B. Fidelity is now telling me it’s okay to contribute an entirely separate $57k after-tax to a 401k with Employer B. (For a total 2020 contribution of $19.5k + $57k = $76.
- Can we convert pre-tax 401k from Microsoft to Individual Roth IRA? I know for post-tax the option is shown in Fidelity but is it doable even for pre-tax or it can only be done when you leave Microsoft? #microsoftbenefits #microsoftemployees #401k
- TurboTax + RSUs For Fidelity, did anyone do anything besides auto importing the documents? Just wanted to make sure there were no other steps. #taxes
- vote Who else is maxing their 401k contributions? I don't know where bottom of the market is, but I want to buy all the way down and all the way back up the other side so I went to Fidelity and set my 401k contribution to 50% of my base every month. (My base is 250k, TC is GTFO) Including after tax contributions that will max out my 401k limits i
- Fidelity Brokeragelink I have both after tax and pre tax money in my 401k. I transferred some to money to brokeragelink account. It took some funds from both pre and post tax accounts. How will fidelity keep track of the earnings in my brokerage account, and how will they tie it back to pre tax dollars vs post tax? #pers
- 401K Overcontribution (job change scenario) - Correction topic Hello, On a 401K Overcontribution scenario (In a job change), could anyone share their experience of correction on the account with the old employer? (Maybe with Fidelity) To elaborate the scenario: -> Say my contribution at prev employer this year is $10K, I contribute 19.5 in the new 401K acco
- Mega Backdoor Roth Which companies allow Mega Backdoor Roth? I know LinkedIn, Microsoft, Google does. Do all companies allow Mega Backdoor Roth? Also, can i contribute to Mega Backdoor Roth from my bank account, or does it have to come from salary to after-tax bucket in Fidelity, followed by moving the after-tax bucke
- Brokerage account for ROTH What company is good to maintain Roth IRA account. Also, how hard is it to get mega backdoor contribution in fidelity rolled over to another company account, are there any tax implications for this?
- Return of excess - 401k I contributed over the limit last year. And looks like I need to get the excess back before I file taxes ? But it’s not reflected on my w2 returns. Fidelity is not able to answer/ help with this. Not sure what to do next ? Any suggestions ? #taxes
- 401K Overcontribution Correction tax-rate Hi All, For correcting a 401K overcontribution, whats the tax rate you normally enter (if any) in the form. Fidelity normally states the normal rate they take out (if we dont give a %) is 20% (federal), we have the option to enter a federal and a state tax % in their forms. Any thoughts on this her
- Fidelity Financial Advisor I have a couple of brokerage accounts with robinhood and e-trade. I usually invest in mutual funds (S&P500, QQQ, etc) and currently have $1.5M investment in those funds. I had a call with fidelity financial advisor today and he was pitching me to move some of my money (500K) to fidelity brokerage ac
- I owe 80K to IRS accidentally Update: This is a great discussion. Thank you all for your eye-opening thoughts. Fidelity confirmed that they cannot change the tax report after settlement and I will accept it. Since I will have at least 20 years to retire and the long-term capital gain tax rate will most likely go up, it's not a r
- Avoid paying tax penalty I am doing some short term stock trading since the beginning of the year and I have been doing well. Fidelity doesn't withhold any taxes on these and I don't want to end up having a tax penalty next year if I continue to do well. Is there a way to pay taxes on these short term capital gains to avo
- My dear TC chasers Now that you’re reading, I need bit of a help with understanding investments. I am in Seattle and make $160k base. I am contributing 12% to my 401k through Fidelity. That’s close to about $19500 I take it. I am also contributing about $3k into my HSA. Now I understand that I won’t be eligible fo
- Excess 401k contributions I contributed 20k for this year pre-tax 401k, due to change of employers. I tried to get back the excess 401k ($500) from fidelity. But they are making it painful. What happens if I don’t claim the excess return?
- Backdoor Roth: Conversion from Traditional IRA to Roth IRA I am going to use the Backdoor Roth IRA strategy for the first time. I've created Traditional IRA to Roth IRA accounts at Fidelity to do that. I will be funding $6k from my Chase bank checking account which is already after-tax money. I will first deposit that money from my Chase bank account to Tr
- Can I invest on Etrade from India? I am moving back to India and I have Etrade, Wealthfront and fidelity accounts. Can I trade from India using same account by changing address to Indian address ? Any tax implications? Thanks. #personalfinance #investments
- Turbo Tax Delux coverage does TT delux covers RSU sell, ESPP, HSA, 401k and Fidelity individual brokerage account for tax returns. I am on OPT and still a non-resident alien. #taxes #taxreturn #turbotax