Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Fidelity Incentives
Old 12-27-2016, 03:20 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 2,610
Fidelity Incentives

I have some new money for Fido and before I send it in I researched any incentives and ran across this interesting page.

https://investorjunkie.com/11001/fid...500-cash-bonus
__________________

COcheesehead is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-27-2016, 03:49 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 10,705
I wonder if the "incentive" would be taxable? Do they send you a 1099?
__________________

__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 12-27-2016, 03:51 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,266
Quote:
Originally Posted by youbet View Post
I wonder if the "incentive" would be taxable? Do they send you a 1099?

Not sure about this, but a LONG time ago I opened a brokerage account and got $500... I did get a 1099...
Texas Proud is offline   Reply With Quote
Old 12-27-2016, 04:08 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
MRG's Avatar
 
Join Date: Apr 2013
Posts: 7,891
Quote:
Originally Posted by youbet View Post
I wonder if the "incentive" would be taxable? Do they send you a 1099?
If it is taxable Fidelity, nor anyone else in the industry, is paying the tax!
MRG is offline   Reply With Quote
Old 12-27-2016, 04:14 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: E. Wash
Posts: 1,248
Quote:
Originally Posted by youbet View Post
I wonder if the "incentive" would be taxable? Do they send you a 1099?
Both my cash incentive and the reimbursement for TurboTax showed up on my 1099 from Fido
nwsteve is offline   Reply With Quote
Old 12-27-2016, 05:09 PM   #6
gone traveling
 
Join Date: Oct 2016
Posts: 14
Quote:
Originally Posted by nwsteve View Post
Both my cash incentive and the reimbursement for TurboTax showed up on my 1099 from Fido
I have received many bonuses from Fidelity. Never a 1099.

Must have been $600 or more.

https://rewards.fidelity.com/offers/...ndfamilyoffer1

"Cash bonus awards made into taxable accounts of $600 or more within a calendar year will appear on your consolidated 1099."
MrPotatoChip is offline   Reply With Quote
Old 12-27-2016, 05:39 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 2,610
I got a $500 Apple gift card at one point and don't remember getting 1099'd.
COcheesehead is offline   Reply With Quote
Old 12-27-2016, 07:08 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,744
Right now I'm about to transfer $200k+ into fidelity to get his and hers 50,000 airline miles. I transferred it out of fidelity a month ago and need to wait 3 months before I can transfer it back in to have it considered "new money". Every 12 months, rinse repeat to pick up an easy 100k miles per year. This is my first time doing it and so far no effort beyond filling out some forms (30 minutes maybe??).

100k airline miles are worth at least $1000, probably closer to $1500.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
FUEGO is offline   Reply With Quote
Old 12-27-2016, 09:53 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 4,933
My (snake-bit) friend I have written about a few times over the years did an asset transfer of his inheritance into Fidelity back in 2012. It included an IRA and a brokerage account, and each got a bonus. The brokerage one was $600 and was taxable (1099 form) while the smaller IRA one was not taxable (yet).
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 12-28-2016, 08:02 AM   #10
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 184
Fuego - How do you get the miles? I know Chase had sent me an email about this but it was a couple of years ago and I didn't have excess cash. Do you have to wait for an offer or is this ongoing offer.
whatnot is offline   Reply With Quote
Old 12-28-2016, 08:11 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,744
Quote:
Originally Posted by whatnot View Post
Fuego - How do you get the miles? I know Chase had sent me an email about this but it was a couple of years ago and I didn't have excess cash. Do you have to wait for an offer or is this ongoing offer.
Here's a good thread on the current bonus offer deals at Flyertalk.

Seems the deals are ongoing.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
FUEGO is offline   Reply With Quote
Old 12-28-2016, 08:20 AM   #12
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 2,610
Quote:
Originally Posted by whatnot View Post
Fuego - How do you get the miles? I know Chase had sent me an email about this but it was a couple of years ago and I didn't have excess cash. Do you have to wait for an offer or is this ongoing offer.
Yes, these are current offers. Just talk to your rep.
COcheesehead is offline   Reply With Quote
Old 12-28-2016, 08:26 AM   #13
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 184
Great Thank you.
whatnot is offline   Reply With Quote
Old 12-28-2016, 11:45 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 3,551
Be Wary of Brokers' Giveaway - WSJ

For taxable accounts, if you earn $600 or more in promotions in a year, your brokerage firm sends you a 1099-Misc tax form letting you know the income that was produced. This is the amount it reports to the IRS and on which you owe tax. (Typically, firms don't have to report promotions totaling less than $600, but investors still owe tax on them.) For example, TD Ameritrade is treating its cash awards as taxable but not the free trades, which it considers rebates, which are neither reportable nor taxable.

The reporting requirement for gift cards is murkier, says Ms. Riedlinger. Fidelity, for one, will report the face value of its Apple gift cards on the 1099-Misc if an investor's total miscellaneous income from Fidelity hits $600 or more during the year.

************************************************** ******
Sounds like the broker's $600 threshold is the equivalent of the banker's
$10 threshold ...........even if not reported on 1099, you still owe taxes on it.
kaneohe is offline   Reply With Quote
Old 12-28-2016, 08:55 PM   #15
Recycles dryer sheets
Lagniappe's Avatar
 
Join Date: Mar 2006
Posts: 281
This is all very timely for me - was planning to open a fidelity brokerage in January. Now I just have to figure out which reward makes the most sense for me.
Lagniappe is offline   Reply With Quote
Old 12-28-2016, 09:05 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,744
Reports on the internet indicate the Fidelity airline miles don't result in a 1099 even for those receiving 50k+ miles.
__________________

__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
FUEGO is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Holding non-fidelity funds at fidelity panhead FIRE and Money 16 05-02-2013 07:37 AM
Fed report: simplify retirement savings incentives Htown Harry FIRE Related Public Policy 28 09-16-2010 11:12 AM
alternative energy incentives in Houston? Keyboard Ninja Other topics 2 10-04-2008 11:49 AM
Fidelity index funds with exp ratio 0.1% or less amt FIRE and Money 15 10-15-2004 04:17 PM
Fidelity vs vanguard customer service Roger_R FIRE and Money 9 07-01-2004 06:21 PM

» Quick Links

 
All times are GMT -6. The time now is 04:45 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.