I wouldn't think they would need to wait. It's just an in-kind transfer of shares from one account to another. Should be instantaneous. It seems more likely that this is what happened rather than Vanguard making a mistake.Since this was a mutual fund, wouldn't the conversion be executed after COB 12/29 at the NAV at that time?If you did your conversion on the 29th during business hours, the price at the time you did the conversion was the closing price on 12/28. Why do you think they should use the closing price from 12/29? If this was an ETF or specific stock, would you expect the conversion to be done at the market price when make the conversion or at some later price?I converted X number of shares of a Vanguard mutual fund from my IRA to my Roth IRA on 12/29/2023. When Vanguard calculated the dollar amount of the conversion, they used the closing price from 12/28/2023 instead of 12/29/2023. Since the market dropped on the 29th, the dollar amount on my 1099-R is higher than what it should be. That means I'll have to pay more taxes. I've been trying to get Vanguard to issue a corrected 1099-R since 1/5/2024. So far, no luck.
One of the representatives said it was a "system processing error." If so, this could potentially affect anyone buying or selling mutual funds that day. I'm wondering if anyone else has a similar problem and any luck in getting Vanguard to correct it.
Thanks.
Statistics: Posted by toddthebod — Sun Mar 24, 2024 10:54 am — Replies 6 — Views 524