TD Ameritrade New Account Opening Bonuses-Airlines & Hotels
Mar 17, 2012, 9:50 pm
#136
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,481
Sigh, I slacked of last year and opened my wife's account only in June, when I could have done it much earlier. If I had done it a few days earlier, I would have got the offer that expired in Feb. Oh well, you snooze you lose.
Mar 17, 2012, 11:16 pm
#138
Join Date: Oct 2011
Location: North Carolina
Posts: 613
Mar 19, 2012, 1:41 pm
#139
Join Date: Aug 2006
Posts: 756
Don't think so, in the year they give out the $300, will most likely receive a 1099 which is taxable on that year regardless of whether you withdraw the money or leave in acct.
Mar 19, 2012, 4:23 pm
#140
Join Date: Oct 2011
Location: North Carolina
Posts: 613
I don't expect a 1099.
Mar 19, 2012, 9:34 pm
#141
Join Date: Jan 2010
Location: HSV
Programs: Hy Glob,Choice Dia, MR TIT,IHG SPR,HH Dia, Wyn Dia, UA Sil, WN Alis, Hert 5*, National EE
Posts: 1,188
Damn it I've been meaning to do the 25k spg for a while but didn't want to rollover from vanguard. Been lazy about investing lately and have 30k wasting away in checking account that I was going to move tonight.
Just wanted to publicly share my stupidity.
Just wanted to publicly share my stupidity.
Mar 19, 2012, 10:04 pm
#142
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,481
Welcome to the club.
Mar 19, 2012, 10:19 pm
#143
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,804
Mar 20, 2012, 10:30 pm
#144
Join Date: Jan 2012
Location: Southern MN
Programs: HHonors Gold,IHG Platinum
Posts: 39
Speak to someone at OptionsHouse, E*Trade, Merrill Edge, TD Ameritrade, or Charles Schwab who have been offering Rollover or Transfer IRA Bonuses up to $600 & have them explain the details. TD Ameritrade describes the "bonus" as a payment INSIDE the retirement account. You can't receive anything outside the retirement account such as iPod or air miles or cash. You do not receive a 1099 nor is the bonus funds treated as a contribution. TD America rep said there firm has been able to offer a bonus for rollover or transfer IRA he thought 5 or 6 years which would suggest something changed during the Bush administration.
Mar 21, 2012, 10:16 am
#145
Suspended
Join Date: Dec 2006
Location: USA
Programs: All major programs
Posts: 1,403
. I also meant to do the SPG promo as they are so hard to get these days. Have been chasing other things hoping this will be there. Well it is gone for now but hopefully will come back in some form.
Mar 21, 2012, 10:49 am
#147
Join Date: Oct 2011
Location: North Carolina
Posts: 613
TOTALLY WRONG ASSUMPTION!
Speak to someone at OptionsHouse, E*Trade, Merrill Edge, TD Ameritrade, or Charles Schwab who have been offering Rollover or Transfer IRA Bonuses up to $600 & have them explain the details. TD Ameritrade describes the "bonus" as a payment INSIDE the retirement account. You can't receive anything outside the retirement account such as iPod or air miles or cash. You do not receive a 1099 nor is the bonus funds treated as a contribution. TD America rep said there firm has been able to offer a bonus for rollover or transfer IRA he thought 5 or 6 years which would suggest something changed during the Bush administration.
Speak to someone at OptionsHouse, E*Trade, Merrill Edge, TD Ameritrade, or Charles Schwab who have been offering Rollover or Transfer IRA Bonuses up to $600 & have them explain the details. TD Ameritrade describes the "bonus" as a payment INSIDE the retirement account. You can't receive anything outside the retirement account such as iPod or air miles or cash. You do not receive a 1099 nor is the bonus funds treated as a contribution. TD America rep said there firm has been able to offer a bonus for rollover or transfer IRA he thought 5 or 6 years which would suggest something changed during the Bush administration.
TD is required to file a form 5498 with the IRS for each IRA with an information statement to the participant by Jan 31. The form 5498 isn't due until May 31 so the participant gets notified first. That would seem to allow time for corrections, if any.
The 1099-R is used to report distributions not contributions.
If Happy were right and the $300 was a contribution, it would be an "excess contribution" since my wife has no earned income. My wife would be allowed to withdraw the excess contribution tax-free.
She may not have to pay any tax on withdrawal if I am no longer alive. She could withdraw up to the (standard deduction + exemption - interest, etc.) without incurring any tax liability. Based on a FIFO evaluation I suspect that this $300 will at some point be tax-free.
Last edited by JATR4; Mar 21, 2012 at 10:50 am Reason: Added info
Mar 21, 2012, 3:07 pm
#148
Join Date: Aug 2006
Posts: 756
My broker at TD said that the company will no longer offer any more miles with any programs in the future. (at least for the next year or more as far as he can tell).
Mar 21, 2012, 11:00 pm
#149
Join Date: Mar 2011
Programs: I was loyal to One Pass & Star Alliance before FT ... now I value all miles and programs
Posts: 219
Mar 22, 2012, 12:42 am
#150
Join Date: Jan 2011
Posts: 749