Creating and Editing Tax Harvest Account Groups (TAMP)

Creating and Editing Tax Harvest Account Groups (TAMP)

NOTE: The following documentation applies to AdvisorEngine TAMP clients only.

Account Groups represent tax households. Tax households are made up of accounts that are filed under the same tax return. Account Groups are assigned Harvest Rules for use in Tax Loss Harvesting.

Creating a Tax Harvest Account Group

  1. Navigate to Investment Management > Tax Harvesting > Account Groups.
  2. Click Create New Account Group in the upper right.
  3. Fill in the Account Group details:
    • Group Name: A descriptive name of the grouping. Client last names are recommended.
    • Filing status: The filing status of the household (single, married, etc.).
    • Tax Year End: The date of the household’s fiscal year end.
    • Short Term & Long Term P&L goals: For example, a goal of 0 for short term and -3000 for long term can be used to offset ordinary income.
    • Short Term Tax Rate: The tax rate used for your client.
  4. Either select a defined Harvest Rule from the drop-down, or click Create New Rule to Create a New Tax Harvest Rule. The Harvest Rule dialog will open and return you to the New Group creation when finished.
    • This step can be skipped but the created group will remain in Unassigned Groups and perform no function until a rule has been applied.
  5. Use the Enter an Account Number search box to locate the accounts to be included in the group. Accounts you have added will be listed in the grid below.
  6. Once all parameters have been assigned, click Save Group in the bottom right.

The Tax Loss Harvesting Account Group is now operating and can be used to watch for and take advantage of Harvesting Opportunities.

Editing or Deleting Account Groups

From the Account Groups tab, click the More menu at the end of a Rule's row to edit or delete an existing group.

Groups with assigned rules can also be edited from the Account Groups tab by clicking the Account Group name in the grid.

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