2022 year-end tax-planning checklist

E*TRADE Securities

 11/11/22

Plan now to help make April 18, 20231 less taxing

Taxes are a fact of life. With that in mind, here are several things you might consider as you prepare for tax season—from year-end retirement planning to reviewing your portfolio and updating your investment goals. It’s not an exhaustive list, and not all items may apply to you, but it’s a good starting place. For specifics about your own tax situation, please consult a tax advisor.

Important tax dates

Visit etrade.com/taxschedule for a complete list of important tax dates and deadlines.

Download and print for important tax dates and more information:

file_download For brokerage accounts
file_download For new E*TRADE customers
file_download For retirement accounts
file_download For stock plan participants

Here are seven ways to help get ready for tax time

    Top considerations

  1. Review your withholding with our current rates and brackets guide.

    2. Why?

    By reviewing your current tax withholding and knowing your tax rate, you can make preliminary tax estimates and plan to adjust your income or expenses before year-end, if appropriate.

    How?

    Visit etrade.com/taxguide and download our Current Rates and Brackets guide. Please note this reflects the rates for 2021/2022; the 2022/2023 rates will be available in early January.

  2. Consider making a 2022 IRA contribution,2 and create or refresh your retirement plan.

    3. Why?

    Maximizing your allowable annual contribution may help keep you on track for retirement and possibly even provide tax advantages. Tuesday, April 18, 2023, is the deadline to contribute for the 2022 tax year. It’s important to revisit your retirement plan every year to review your goals and objectives, understand how much you’ll need to accumulate, see where you currently stand, and make any adjustments to stay on track. If you don’t have a retirement plan, now may be a good time to create one.

    How?

    Consider opening and contributing to a Traditional or Roth IRA at E*TRADE from Morgan Stanley. Use the IRA Selector tool at etrade.com/iratool to help determine which type of account could meet your needs—or consult a tax professional for guidance. Then, check out our retirement-planning page at etrade.com/retirement to learn about different options, evaluate your current plan, or create one. Once you open an account, our Retirement Planning Calculator, available at etrade.com/calculator (login required), makes it easy to customize and monitor your retirement plan

  3. Designate your beneficiaries

    4. Why?

    Life events may affect your beneficiary designations. Review and update your designations to confirm that they’re consistent with your intentions.

    How?

    Designating or updating a beneficiary is quick and easy. Visit etrade.com/benechange.

    Year-end tax moves

  4. Consider making a charitable contribution

    5. Why?

    Donations of qualified appreciated stock may maximize the amount you give to your favorite causes.

    How?

    Our online charitable donation process makes it easy. Simply visit etrade.com/donations.

  5. Visit the E*TRADE Tax Center

    6. Why?

    It’s where you can download and print tax documents, such as Forms 1099 and 5498, and view a complete list of important tax dates. You’ll also find articles, FAQs, tools, and cost basis resources to help you prepare for tax season.

    How?

    Go to etrade.com/tax.

  6. Review your gains, losses, and expenses—and consider the potential tax consequences of income and distributions from your investments.

    7. Why?

    Reviewing your 2022 transactions before year-end may help you identify opportunities to reduce your 2022 taxes. Also, certain distributions from your investments may be taxed as ordinary income. At the same time, a portion of ordinary income distributions from real estate investment trusts (REITs) and income allocations from publicly traded partnerships may qualify for a tax deduction.

    How?

    Visit etrade.com/gainloss to review your gains and losses, and consult your tax or financial advisor for information on these holdings, as well as the timing of any future investments you may be considering.

    Always a good idea

  7. Review and rebalance your portfolio

    8. Why?

    Rebalancing your portfolio regularly may help you stay aligned with your investment goals and objectives.

    How?

    If your circumstances have changed or you’ve experienced a life event this year, it’s always a good idea to review your savings goals and make sure your investments are still on track. You can update your Investor Profile any time at etrade.com/investorprofile. You can also speak with an E*TRADE Financial Consultant at 877-800-1208.

For additional tax-related information, visit our Tax Center—or speak with an E*TRADE Financial Consultant at 877-800-1208.

  1. The tax filing deadline for 2022 falls on Tuesday, April 18, 2023 because the Emancipation Day holiday observed in the District of Columbia will be observed on Monday, April 17, 2023. The Emancipation Day extension may not apply to your state and local filing deadlines. Accordingly, please consult with your tax advisor or review your local tax authorities guidance for more information about your state and local filing deadlines.
  2. The 2022 IRA contribution deadline is Tuesday, April 18, 2023.

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