The Money Mustache Community
Learning, Sharing, and Teaching => Taxes => Topic started by: jpdx on December 29, 2018, 10:02:28 AM
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Hello savvy people. I'm waiting to receive a large amount of business income that may or may not arrive in my bank account on Monday Dec 31st 2018. If I do not receive the income, then I would like to do a Roth conversion before the 2018 deadline. What is the cutoff time to execute the conversion for 2018 at Vanguard? 4PM EST, or midnight, or something else?
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If you are converting mutual funds at Vanguard, I would guess you would have to submit the transaction by 3:59pm Eastern time on Monday December 31st. It does appear that the markets are open Monday for a full day.
If you're cutting things that close, I would try to do the transaction online, and I would be aware of things like my web session timing out, the fact that Vanguard's website may be a little busy, and that the clock on my PC may not match Vanguard's clock.
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Well OP? How did it go???
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Mission accomplished!