If the S&P 500 is up over the 30 days, you’ll cancel out some of the losses you just harvested by realizing capital gains. I wanted to buy VTSAX for taxable account – if TLHing I plan to exchange it to Vanguard 500 Index , but then switch back to VTSAX after 30 days. Within those 30 days, can I contribute to Fidelity 500 Index under Mega Backdoor Roth IRA without triggering wash sale?

There’s no better deal than that, especially for qualifying students! Just remember that this option is for folks that have a really simple tax for to send in. I’d rather use those losses to offset ordinary income, which is taxed at a significantly higher rate. However, I’ll probably be forced to use many of my carryover losses from 2015 & 2016 to offset some significant capital gains when we sell our second home, turbotax discounts vanguard which could happen as soon as this year or next. That’s why it’s ideal to avoid holding funds that you have in a brokerage account in any of your other accounts. But you still get to take most of that loss, and since the accounts are probably not connected in any way, it’s probably up to you to to report the wash sale. You shouldn’t switch back unless the market continues to drop over that 30-day period.

Vanguard ends customer discounts for TurboTax products

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• Mine is all pretty much in ETFs… If I understand this correctly…exchanges are not possible for ETFs?
• Money in tax lots that have not appreciated much are most likely to move into the loss column.
• These could come from selling stocks, mutual funds, or property.
• While TurboTax has a free plan, it’s only for simple tax filing.
• You can find current discounts on TurboTax downloads and CDs right on the company’s home page.
• It’s a bit of a hassle for sure but you may spend hours and hours on some friggin side hustle and if you had just tax loss harvested you could have been out playing golf, so it’s not trivial.

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Who Qualifies for Fidelity’s TurboTax Discount?

Yes, but I wouldn’t unless the new fund has had no gain. If it has gained nothing, you’re fine to switch the back. You’re only out the transaction fees, which for me is zero in Vanguard mutual funds.