To Brokerage or Not to Brokerage.....

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Jerry55
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To Brokerage or Not to Brokerage.....

Post by Jerry55 »

THAT is the question, but probably a pretty simple answer to it.

I've seen the nag screens for 2 years and other email threats, blah blah blah....but, only 2 accounts there (for now)

1. Roth IRA (Wellesley)
2. Taxable (Wellington, of which I take all distributions for fun money now....the last 2 years, but I've had it for 10 yrs)

TurboTax grabs the info for me from Wellington and puts it in it's proper place, and I enjoy that ease of use
(I have Dodge & Cox and Capitol One savings similar)

I may in the future year or so make another investment into a Life Strategy fund, but wonder if the TurboTax issue will be the same and as easy (I saw Turbotax give me the option of picking Vanguard Mutual Fund or Vanguard Brokerage to choose from when auto-downloading.)

I suspect there will be no difference, but I'm sure to get 10 answers here before I get one from Vanguard, so here I am, just wondering...

Thanks in advance...
Retired CSRS on 12/19/2012 @ age 57 w/39 years | Good Bye Tension, Hello Pension !!!
Fishing50
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Re: To Brokerage or Not to Brokerage.....

Post by Fishing50 »

TurboTax imports data from my Vanguard Brokerage account. No problems…

I’m surprised a CSRS pensioner would hold tax inefficient funds in taxable.
Retired Military Officer. 80% equites / 20% bonds for life, ZERO emergency fund, 100% taxable in equities (dividends in cash), 33% taxable, 30% Roth, 37% tax deferred. Gone Fishing At 52yrs old!
sycamore
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Re: To Brokerage or Not to Brokerage.....

Post by sycamore »

No problems with TurboTax importing from either Vanguard mutual fund accounts (for me, it was years ago) or Vanguard brokerage accounts.

I don't think a "TT doesn't import from VBS" scenario is likely to occur, so it's not a hurdle for transitioning to VBS.
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Jerry55
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Re: To Brokerage or Not to Brokerage.....

Post by Jerry55 »

Fishing50 wrote: Thu Jan 27, 2022 7:36 am TurboTax imports data from my Vanguard Brokerage account. No problems…

I’m surprised a CSRS pensioner would hold tax inefficient funds in taxable.
Thank You
Ya, me too. LOL !

But I have my reasons....

I moved out of Hi-Yield accounts in Harbor and Dodge & Cox B4 I retired, max funded my Roth IRA in 2011 via the CSRS VCP option (10% aggregate of base pay over my Civil Service lifetime) and contributed the MAX I could by law into Wellesley, Roth.....then dumped the rest into Wellington. I Let it ride til I decided to just have fun with the Wellington spin-offs since I had been paying taxes on it but letting it grow since 2012, but in 2020....ya know the old adage, "ya can't take it with you"
Last edited by Jerry55 on Thu Jan 27, 2022 12:26 pm, edited 1 time in total.
Retired CSRS on 12/19/2012 @ age 57 w/39 years | Good Bye Tension, Hello Pension !!!
livesoft
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Re: To Brokerage or Not to Brokerage.....

Post by livesoft »

TT will import from both types of platforms, but separately, so I think you would have to import twice if you have documents at both types of platforms. TT will import from other platforms as well, such as Fidelity.
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Jerry55
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Re: To Brokerage or Not to Brokerage.....

Post by Jerry55 »

livesoft wrote: Thu Jan 27, 2022 12:23 pm TT will import from both types of platforms, but separately, so I think you would have to import twice if you have documents at both types of platforms. TT will import from other platforms as well, such as Fidelity.
Thank You....
it's only VG Wellesly it grabs, the other stands alone at Dodge & Cox.
Retired CSRS on 12/19/2012 @ age 57 w/39 years | Good Bye Tension, Hello Pension !!!
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Jerry55
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Re: To Brokerage or Not to Brokerage.....

Post by Jerry55 »

Welp, thanks for the info. It's been 2 years and I finally decided to move over and create the Brokerage account. Friday evening to give them the weekend to do their do. I did copy all assets prior to the changeover into my log, but I suspect things will go smoothly, coz I've seen no other issues raised here over he last 18+ months.

So, count me in.... :sharebeer
Retired CSRS on 12/19/2012 @ age 57 w/39 years | Good Bye Tension, Hello Pension !!!
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