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When you transfer money to Vanguard it automatically goes into a money market fund, so likely some cash is being parked in brokerage accounts.
by cloudking 4y ago
When you transfer money to Vanguard it automatically goes into a money market fund, so likely some cash is being parked in brokerage accounts.
- ashconnor 4y agoAnnoyingly so if you are doing a Backdoor Roth Conversion. Now I'm filing extra paperwork for the $1 interest that is taxed.
- dmoy 4y agoIt's exactly the same amount of paperwork you always need to file for a backdoor Roth. It just means you end up with a $1 on a specific line of 8606 that would otherwise be a zero. You'd still need to fill out 8606 either way.