Weekly strategy performance

First-quarter account summaries and OnTarget statements are scheduled to be delivered in the coming weeks. For those clients who have elected to receive our correspondence electronically, be sure to go to ontargetinvesting.com to verify that we have your current email address in our system. If you haven’t already done so, you can contact Client Services at 800-347-3539, ext. 1, to set up e-delivery.

We’re excited to introduce FlexPlan Strategic, a professionally managed investment strategy designed for workplace retirement accounts with a self-directed brokerage account (SDBA) option. If your retirement plan allows for an SDBA, this strategy can provide institutional-grade investing, active risk management, and broad diversification—helping you stay on track toward your financial goals. To learn more about this new investment option and how it might fit your financial goals, contact your financial adviser today.

Tax day is right around the corner! Don’t wait until the last minute to establish your new IRA or rollover accounts. Prior-year contributions must be received by our office and in good order by April 7 to ensure processing by April 15.

Form 1099-R, RMD letters, and all nonretirement account tax forms have been mailed and are available online through Axos Advisor Services’ Liberty website.

Reminder: Legislation effective January 1, 2023, changed the RMD age from 72 to 73.

Axos offers electronic delivery of all 2024 tax forms, 1099s, and RMD letters. To select electronic delivery, log in to your account on the Liberty website and navigate to the About Your Account and Document Delivery Options section. When you sign up for electronic delivery, you will receive email notifications when account documents are available.

Tax data will be available for import into both Turbo Tax and H&R Block tax programs. Clients will need to establish a Liberty login and password before using the import process. Select “Axos Advisor Services” from the list of financial institutions and then authenticate your identity using your Liberty login and password. Online assistance is available through the Help Center services of both Turbo Tax and H&R Block. Note: This import process is not available on the free version of Turbo Tax.

Each year we get questions from reps and tax preparers about how to handle transaction data for taxable accounts. While Flexible Plan Investments (FPI) does not provide tax advice, the following procedural information may be useful.

To avoid having to enter each buy/sell transaction, you can use one of the following methods:

• Axos Advisor Services integrates with Turbo Tax and H&R Block’s tax software, allowing you to download the data directly into the software program. Axos Advisor Services also provides the 1099-B tax data in CSV/spreadsheet format, which can be used with other software programs.
• Totals can be entered on Schedule D, and a hard copy of the 1099-B data can be submitted separately from the electronically filed return. Totals entered using this method could be labeled “Per schedule submitted with Form 8453.” You would then submit an IRS Form 8453 with the 1099-B tax data to the following address:

Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

Wash sales: Interest in the subject of wash sales and active management always spikes during tax season. Information about wash sales, their effects, and how to avoid them at FPI can be found here.

If you hold a mutual fund, exchange-traded fund (ETF), or real estate investment trust (REIT) in your portfolio, there is a high probability a portion of the dividend payments made throughout the year will be reallocated for tax reporting purposes. Due to late reallocation notices, some account owners will receive a corrected tax form.