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Today in ThinkDesktop I see certain stocks now showing a beige icon indicating it's available for 24x5 trading. Not sure how they're picking them since only INTC and EXC are showing it on my watchlist, while other 'big' US names are not. Guess it's a slow roll-out..... I'll try to see what their bid/ask is like during the late local news sometime .... or maybe on the way back from the bathroom at 3AM if I remember and am so inclined.
As the US exchanges haven't decided on this yet, the likely 24/5 trading is by using foreign exchanges or private trading involving willing market-makers, hedge-funds, and firms' inventories.
As the US exchanges haven't decided on this yet, the likely 24/5 trading is by using foreign exchanges or private trading involving willing market-makers, hedge-funds, and firms' inventories.
Yeah, that's kind of what I'm thinking. Or Schwab's own dark pools ... whatever, should be interesting.
"The New York Stock Exchange (NYSE:ICE) and Nasdaq (NASDAQ:NDAQ) are watching closely as the SEC approved the first U.S. stock exchange that would operate during most hours of every weekday.
The 24X National Exchange, started by hedge-fund billionaire Steve Cohen, has the potential to shake up market dynamics, with many brokers already switching to extended trading and nonstop trading of select stocks. The newly approved exchange would operate 23 hours daily (including a break from 7 PM to 8 PM), and five full days a week (from Sunday evening to Friday evening)."
Aside from what is today's trading hours (9:30am-4:00pm EST) will all the additional hours be considered as pre-market or after-hours trading with 'limit' orders only?
FYI - if your TD account was transitioned over to Schwab, I am told by Schwab rep that both of your consolidated 1099s will appear on the 1099 Dashboard under the new Schwab account number (and not in a separate, clearly identified subsection).
Since I moved to Schwab ahead of the TD process, I only have 1 form, but they say I'll have it by 2/28, so .... who knows? As long as I get it promptly I'm ok.
1099 delays are most likely due to how long it takes the funds/companies you hold in an account take to report. So the fact that someone else got a form from your brokerage means little. They may not have anything their account that reports slowly.
For example, I received a 1099 for one brokerage account at Fidelity on Jan 25th. I didn't receive a 1099 for another Fidelity brokerage account until Feb 8th. Fidelity said that it was waiting on info from a money market fund in that account. A Fidelity money market fund!
The context was: former TDA account holders who have been transitioned should expect both their tax forms to be found under their new account number. IOW, the way tax forms are sometimes presented when there is a midyear change of clearing houses. But you also included your ETA date.
That date would have been superfluous had you only been seeking confirmation that this was the way the 1099s were actually being delivered. Or if you were just interested in reassurance that the process hadn't been entirely botched, that at least someone got both their tax forms.
The inclusion of the ETA date suggested an interest in whether the 1099s were being delivered on time. Context wasn't ignored. Rather, the specific date appeared to be a salient piece of info. Maybe you only meant to indicate that your own 1099 was not yet late.
FYI - if your TD account was transitioned over to Schwab, I am told by Schwab rep that both of your consolidated 1099s will appear on the 1099 Dashboard under the new Schwab account number (and not in a separate, clearly identified subsection).
My dashboard says I will receive them on Feb 28.
Has anyone received their’s.
An update. The above information is incorrect. (Now you know why I keep checking with you guys about answers I receive from brokerage Reps.)
If your TD account was transitioned over to Schwab, under the 1099 Dashboard section (in the Statements and Tax Forms tab) the TD 1099s will appear under a separate heading "TD Ameritrade Tax Forms" below the group of Schwab 1099s which would be under "Charles Schwab Brokerage Tax Forms." If you have a few accounts in the Dashboard, you may have to scroll down a bit to get to the TD Ameritrade Tax Forms sub section (right above the Statements and Documents section). (In my linked accounts, the TD Ameritrade Tax Forms sub section or heading was not there as of yesterday, which prompted me to call Schwab yesterday to find out how I would locate the TD 1099s when they become available.)
You can also get to all your tax forms by going to the Statements and Documents section (make sure the Tax Forms option is selected). However, know that this feature can be glitchy sometimes and may not display properly (like right now it shows zero documents for me but when I started drafting this post, it was fully populated). My suggestion is to use 1099 Dashboard as your primary access for 1099s.
Yesterday, when I spoke with the Rep, I suggested to him that they put all the TD tax forms in a separate subsection but he insisted it is too late for that suggestion and that for each account, TD 1099 will be labeled with TDA and placed below the Schwab 1099 (which does not have a Schwab label and that is how you know what is available). I can not imagine Schwab redesigned the webpage presentation overnight based on my suggestion - may be other customers too already made similar suggestions or the Rep I spoke with was simply wrong. I must say Schwab, as a company, has acted on more of my suggestions than all other financial institutions combined. TDA made Schwab a better company for me and I am happy with the merger /acquisition.
P.S.: my legacy Schwab account 1099 was available on Jan 24. My transitioned TD 1099 became available today. My transitioned Schwab 1099 is still pending. For the accounts I baby sit, all the legacy and transitioned 1099s became available today. I personally am not in a hurry to get the 1099s as I would rather Schwab does not have to issue Corrected forms. Only letting the forum members know that many of the previously "available 2/28/2025" tax forms already became available. So, keep checking your account if you are anxious to get your tax return going.
(Not necessarily useful information to this post - As much as I love the new Schwab, one thing I would like Schwab Reps to learn is to assess the customer's level of sophistication before opening their mouth to make the conversation productive (short and sweet) - TDA Reps were very good at this and I could till today tell which Schwab Rep is a legacy TDA Rep and which one was hired by Schwab.)
I was transitioned from TDA to Schwab in 2023. Thus, in early 2024 I received the two tax forms in the manner described in the latest entry above from BaluBalu..
It was probably a while ago since you dealt with your 2023 tax return but if you remember any quirks you encountered because of the transition year 1099s for that year, please share.
Even with MLP investments, I do not recall ever receiving a corrected 1099 from Schwab or TDA. Hopefully, it says the same way this year as well.
Comments
"The New York Stock Exchange (NYSE:ICE) and Nasdaq (NASDAQ:NDAQ) are watching closely as the SEC approved the first U.S. stock exchange that would operate during most hours of every weekday.
The 24X National Exchange, started by hedge-fund billionaire Steve Cohen, has the potential to shake up market dynamics, with many brokers already switching to extended trading and nonstop trading of select stocks. The newly approved exchange would operate 23 hours daily (including a break from 7 PM to 8 PM), and five full days a week (from Sunday evening to Friday evening)."
Officially out for everyone... might be a handy tool now and then if needed.
https://www.schwab.com/learn/story/what-to-know-about-245-trading-on-thinkorswim
FYI - if your TD account was transitioned over to Schwab, I am told by Schwab rep that both of your consolidated 1099s will appear on the 1099 Dashboard under the new Schwab account number (and not in a separate, clearly identified subsection).
My dashboard says I will receive them on Feb 28.
Has anyone received their’s.
For example, I received a 1099 for one brokerage account at Fidelity on Jan 25th. I didn't receive a 1099 for another Fidelity brokerage account until Feb 8th. Fidelity said that it was waiting on info from a money market fund in that account. A Fidelity money market fund!
Sometimes, I wonder if FD was alone in his approach to the forum.
That date would have been superfluous had you only been seeking confirmation that this was the way the 1099s were actually being delivered. Or if you were just interested in reassurance that the process hadn't been entirely botched, that at least someone got both their tax forms.
The inclusion of the ETA date suggested an interest in whether the 1099s were being delivered on time. Context wasn't ignored. Rather, the specific date appeared to be a salient piece of info. Maybe you only meant to indicate that your own 1099 was not yet late.
If your TD account was transitioned over to Schwab, under the 1099 Dashboard section (in the Statements and Tax Forms tab) the TD 1099s will appear under a separate heading "TD Ameritrade Tax Forms" below the group of Schwab 1099s which would be under "Charles Schwab Brokerage Tax Forms." If you have a few accounts in the Dashboard, you may have to scroll down a bit to get to the TD Ameritrade Tax Forms sub section (right above the Statements and Documents section). (In my linked accounts, the TD Ameritrade Tax Forms sub section or heading was not there as of yesterday, which prompted me to call Schwab yesterday to find out how I would locate the TD 1099s when they become available.)
You can also get to all your tax forms by going to the Statements and Documents section (make sure the Tax Forms option is selected). However, know that this feature can be glitchy sometimes and may not display properly (like right now it shows zero documents for me but when I started drafting this post, it was fully populated). My suggestion is to use 1099 Dashboard as your primary access for 1099s.
Yesterday, when I spoke with the Rep, I suggested to him that they put all the TD tax forms in a separate subsection but he insisted it is too late for that suggestion and that for each account, TD 1099 will be labeled with TDA and placed below the Schwab 1099 (which does not have a Schwab label and that is how you know what is available). I can not imagine Schwab redesigned the webpage presentation overnight based on my suggestion - may be other customers too already made similar suggestions or the Rep I spoke with was simply wrong. I must say Schwab, as a company, has acted on more of my suggestions than all other financial institutions combined. TDA made Schwab a better company for me and I am happy with the merger /acquisition.
P.S.: my legacy Schwab account 1099 was available on Jan 24. My transitioned TD 1099 became available today. My transitioned Schwab 1099 is still pending. For the accounts I baby sit, all the legacy and transitioned 1099s became available today. I personally am not in a hurry to get the 1099s as I would rather Schwab does not have to issue Corrected forms. Only letting the forum members know that many of the previously "available 2/28/2025" tax forms already became available. So, keep checking your account if you are anxious to get your tax return going.
(Not necessarily useful information to this post - As much as I love the new Schwab, one thing I would like Schwab Reps to learn is to assess the customer's level of sophistication before opening their mouth to make the conversation productive (short and sweet) - TDA Reps were very good at this and I could till today tell which Schwab Rep is a legacy TDA Rep and which one was hired by Schwab.)
Thus, in early 2024 I received the two tax forms in the manner described in the latest entry above from BaluBalu..
Thanks. I forgot that some were transitioned in 2023.
It was probably a while ago since you dealt with your 2023 tax return but if you remember any quirks you encountered because of the transition year 1099s for that year, please share.
Even with MLP investments, I do not recall ever receiving a corrected 1099 from Schwab or TDA. Hopefully, it says the same way this year as well.
Thanks.