2022 Year-End Distributions

[GalaxyBoy]

Has anyone found Schwabs?

When available, they will likely be found here. Still shows last year’s as of today.

https://www.schwabassetmanagement.com/resources/distributions-and-tax-center

 

[audreyh1]

I’m thinking mutual funds must be able to offset capital losses against dividend income because I have some funds that are estimating 0 dividend distribution (probably was 100% qualified in the past) along with 0 capital gains distribution and they usually generate some dividend income from their equity holdings.

I remember this being quite common for a few years after 2000-2002 and again after 2008.

 

[marko]

I’m thinking mutual funds must be able to offset capital losses against dividend income because I have some funds that are estimating 0 dividend distribution (probably was 100% qualified in the past) along with 0 capital gains distribution and they usually generate some dividend income from their equity holdings.

I remember this being quite common for a few years after 2000-2002 and again after 2008.

In 2008, '09 and '10 my MF year-end dividends were only slightly down. Cap gains were near zero however for that period.

 

[CardsFan]

Just checked the 2 funds that throw off the most CG's in our after tax account. Not as much as last year (which was REALLY high), but more than normal.

 

[mrfeh]

I was assuming distributions would be somewhat similar to last year, but maybe not? I am particularly interested in Fido funds, and their estimates page currently shows 0% for cap gains and dividends in their total US market fund.

Wondering because I may need/want to do some Roth conversions if this is true...

 

[MarieIG]

I watched a youtube video which explained that you can do a search for estimated capital gains of fund families.

One of the estimates is circa 14% and the other circa 10%

I ended up kicking these two (Weitz funds) to the curb prior to the distribution of the capital gains and will be replacing with ETFs. (I tax loss harvested so should be ok with the sale.)

 

[audreyh1]

I was assuming distributions would be somewhat similar to last year, but maybe not? I am particularly interested in Fido funds, and their estimates page currently shows 0% for cap gains and dividends in their total US market fund.

Wondering because I may need/want to do some Roth conversions if this is true...

NOTE: Fidelity does not provide dividend distribution estimates, only short and long-term cap gains distributions estimates. So you are missing some critical info.

Almost all my Fido funds are zero for estimated cap gains distributions, but I expect some dividend distributions. How much, who knows? I think it likely less that last year. Unfortunately Fido doesn’t provide estimates for dividend distributions. Cap gains distributions seem to be a big drop from last year according to what other funds have declared.

 

[PaunchyPirate]

Looks like the updated Vanguard estimated year end distributions document just got posted.

https://advisors.vanguard.com/iwe/pdf/taxcenter/FAFYEEST.pdf

Not that I've been checking for them every 5 minutes today.

 

[Telly]

Thanks, I was looking for that!

 

[Trooper]

Doesn’t look like https://www.mutualfundobserver.com/ has their capital gains estimates up yet. That site has been very helpful in the past.

Has this come out yet? I searched the site briefly but did not see anything.

 

[audreyh1]

Yes it did a while back. Someone else posted the link here early in this thread. https://www.mutualfundobserver.com/...year-end-capital-gains-distribution-estimates

 

[audreyh1]

Fortunately my Fidelity distributions came in less than expected. Fidelity doesn’t give estimates on dividend distributions so I used last year’s numbers as my estimate. The on cap gain distribution was quite a bit lower too!

I’ve been tracking this carefully because I’m trying to stay within a particular IRMAA bracket for 2024 as I make some maneuvers to lower future taxable income going forward. For 2024 IRMAA, The Finance Buff gives some estimates to work with https://thefinancebuff.com/medicare-irmaa-income-brackets.html.

 

[scrabbler1]

Fortunately my Fidelity distributions came in less than expected. Fidelity doesn’t give estimates on dividend distributions so I used last year’s numbers as my estimate. The on cap gain distribution was quite a bit lower too!

I’ve been tracking this carefully because I’m trying to stay within a particular IRMAA bracket for 2024 as I make some maneuvers to lower future taxable income going forward. For 2024 IRMAA, The Finance Buff gives some estimates to work with https://thefinancebuff.com/medicare-irmaa-income-brackets.html.

Audrey, have you noticed any of Fidelity's cap gain estimates changing after they were first posted in late October but before they have taken place? A stock index fund my (snake-bit) friend owns has already had its estimate lowered twice, down to nearly but not quite zero.

Furthermore, two Fidelity bond funds I own have sometimes had these odd December dividend distributions in addition to their regular monthly dividends. These "spike" dividends, as I like to call them, are highly variable, often zero, so using the prior year's amount is as much guesswork as anything. And because they are dividends, they never appear (any more, at least) in these estimates like cap gain ones. Thankfully, they appear a few days before the end of the year, so if I wanted to adjust my state estimated taxes before 12/31 so I could still deduct them on my federal return (not so much an issue since 2018 when they doubled the SD), I'd still have some time.

 

[braumeister]

FWIW, my main Fidelity and Schwab holdings made their final dividend distributions last year in the second week of December. So I expect them in the next few days.

 

[audreyh1]

Audrey, have you noticed any of Fidelity's cap gain estimates changing after they were first posted in late October but before they have taken place? A stock index fund my (snake-bit) friend owns has already had its estimate lowered twice, down to nearly but not quite zero.

Furthermore, two Fidelity bond funds I own have sometimes had these odd December dividend distributions in addition to their regular monthly dividends. These "spike" dividends, as I like to call them, are highly variable, often zero, so using the prior year's amount is as much guesswork as anything. And because they are dividends, they never appear (any more, at least) in these estimates like cap gain ones. Thankfully, they appear a few days before the end of the year, so if I wanted to adjust my state estimated taxes before 12/31 so I could still deduct them on my federal return (not so much an issue since 2018 when they doubled the SD), I'd still have some time.

Hmmm - I think I carefully checked a second time around mid November, but not since. And I didn’t notice any changes then.

Most of my Fidelity funds are 0 for cap gains estimates.

What was causing a lot of uncertainty was the equity fund dividend distributions since Fidelity doesn’t provide estimates for those. In my tax planning I had to use last year’s numbers per share, hoping they would come in lighter than that.

No cap gains distributions from my bond funds on Dec 2 as expected from the estimates. No extra dividend distributions either - those would have been paid Dec 2. Yes, I remember getting those occasionally in prior years.

The rest of my Fidelity funds are paying distributions on Dec 16.

FWIW, my main Fidelity and Schwab holdings made their final dividend distributions last year in the second week of December. So I expect them in the next few days.

If you hadn’t noticed yet Fidelity funds always pay year end distributions on Fridays in Dec, not counting the end of month fixed income dividends. And for me next Friday Dec 16 is the last expected from Fidelity.

Fidelity distribution dates were Dec 2, Dec 9, and Dec 16 for me this year.

 

[GalaxyBoy]

FWIW, my main Fidelity and Schwab holdings made their final dividend distributions last year in the second week of December. So I expect them in the next few days.

Some of the Schwab funds paid dividends yesterday, mainly the US index funds. I'm still waiting on the international index fund due next week.

End of year estimates are here: https://www.schwabassetmanagement.com/resource/schwab-funds-actual-annual-distributions-2022

 

[scrabbler1]

Several Fidelity stock index funds my (snake-bit) friend or I own made their annual distributions yesterday. They paid dividends only, no cap gains, including the one which had estimated CG distributions back in November. They decreased over time and became zero by the time we hit the distribution date.

 

[audreyh1]

I had a few come in from Fidelity yesterday. So far coming in lighter than I estimated. And those are the last from Fidelity.

Only 2 more to go on Monday. One legacy fund which has paid large capital gains distributions for the last few years including a whopper last year has given $0 estimates.

Fingers crossed!

 

[rkser]

Vanguard ETFs/M FUNDS held at Fidelity Calculate Qualified Dividends

As I have done the last few years, I am starting a thread where you can post any year-end (2022, this time) cap gain and dividend distributions by your brokerage company.

Here is last year's thread:

https://www.early-retirement.org/forums/f28/2021-year-end-distributions-111417.html

Fidelity's just came out for year-end 2022. Its contents may change as they add more estimates to the mix. Maybe they include dividends again?

And here are Fidelity's 2022 estimates so far:

https://www.fidelity.com/mutual-funds/information/distributions#/?table=estimated

I am trying to calculate the Qualified Dividends of Vanguard ETFs/Mutual Funds held at Fidelity Taxable accounts, I wonder if somebody is in the same boat ? -

VTI
VXUS
VBIRX
VWIUX

Any pointers/help will be appreciated

Thanks in advance

 

[audreyh1]

Same as if you held them at Vanguard. Folks have already provided links to the two different distribution estimates that Vanguard published.

This looks to be complete. https://advisors.vanguard.com/iwe/pdf/taxcenter/FAFYEEST.pdf

 

[rkser]

Thankyou

 

[rkser]

I am completing the What IF Form on Turbo Tax 2021, to compute my estimated taxes for yr 2022 -

I wonder if the dividend rates of our above ETFs/Funds have gone down this year when compared to last year,

I see a negative difference in dividends with comparable account balances of our ETF/Funds, even if I include the estimated pending dividends + capital cap income due near the end of the year.
OR
My calculations are wrong somewhere

(Maybe my post should be in a separate thread),

 

[RunningBum]

I am completing the What IF Form on Turbo Tax 2021, to compute my estimated taxes for yr 2022 -

I wonder if the dividend rates of our above ETFs/Funds have gone down this year when compared to last year,

I see a negative difference in dividends with comparable account balances of our ETF/Funds, even if I include the estimated pending dividends + capital cap income due near the end of the year.
OR
My calculations are wrong somewhere

(Maybe my post should be in a separate thread),

What are you trying to do?

In a few days the actual distribution will be out, and you'll have a couple of days before the end of the year if you have to do something to control your income. I never rely on the estimates. I wait until the actual numbers are in to make my final Roth conversion.

You mentioned VXUS earlier. When I owned the corresponding mutual fund a few years ago, the final distribution did NOT include the foreign tax paid. You wouldn't learn this until you got your 1099 in January. Unless things have change since then or with the ETF, you'll have to account for this. The foreign tax usually amounted to an additional 7% or so. I used 7.5 or 8% as a safety margin.

 

[rkser]

What are you trying to do?

In a few days the actual distribution will be out, and you'll have a couple of days before the end of the year if you have to do something to control your income. I never rely on the estimates. I wait until the actual numbers are in to make my final Roth conversion.

You mentioned VXUS earlier. When I owned the corresponding mutual fund a few years ago, the final distribution did NOT include the foreign tax paid. You wouldn't learn this until you got your 1099 in January. Unless things have change since then or with the ETF, you'll have to account for this. The foreign tax usually amounted to an additional 7% or so. I used 7.5 or 8% as a safety margin.

Thanks

 

[audreyh1]

I am completing the What IF Form on Turbo Tax 2021, to compute my estimated taxes for yr 2022 -

I wonder if the dividend rates of our above ETFs/Funds have gone down this year when compared to last year,

I see a negative difference in dividends with comparable account balances of our ETF/Funds, even if I include the estimated pending dividends + capital cap income due near the end of the year.
OR
My calculations are wrong somewhere

(Maybe my post should be in a separate thread),

My dividend distributions have dropped compared to last year, some substantially. I’m not looking at rates, I’m looking at the $ amounts for the same number of shares compared to last year.

The funds with $0 cap gains distributions - for those the dividend distributions have been reduced quite a bit as well which makes me think that there are capital losses offsetting the dividends.