Thank you. Yes my goal is to get taxed when we get in a lower bracket which is most likely just a year or two from now. My investments had high gains over time so it would be taxed highly to take it all out now in our higher tax year.If your FXAIX is not in an IRA, selling shares will be a taxable event where you will owe capital gains tax on the gain, that is, if you sell the shares for more than you paid. The Fidelity user interface will allow you to see what your current gain is, so you can make an informed decision. Remember, the tax is just on the gain, and the rate is 0%,15% or 20% based on your tax bracket. (0% in mine.I apologize for the delayed response.If you will identify exactly what you own, the forum will help you figure out the best thing to do.Ok so there’s no option to make the money more liquid and safe without being taxed? Not sure I’m wording this all correctly.
This is a good opportunity for you to learn the lingo, and how to use your brokerage account.
It’s mostly in FXAIX @ Fidelity. I was hoping to move it from that to a CD or something decent guaranteed and I don’t plan to withdraw soon but want the ability to do so at any time, and I was hoping to be taxed as it’s withdrawn from a CD rather than when I convert the entire amount from FXAIX to CD.) Also remember that CDs are not usually completely liquid - normally you must pay an interest penalty if you break them before maturity. You could put your money in a money market fund, which is quite liquid - but the rates go up and down over time. And, in a taxable account the CD or MM interest is taxable in the year it's paid, not just when you withdraw.
) Also remember that CDs are not usually completely liquid - normally you must pay an interest penalty if you break them before maturity. You could put your money in a money market fund, which is quite liquid - but the rates go up and down over time. And, in a taxable account the CD or MM interest is taxable in the year it's paid, not just when you withdraw.Statistics: Posted by 2019istheyear — Wed Aug 21, 2024 9:26 pm — Replies 21 — Views 2335