Message Font: Serif | Sans-Serif
No. of Recommendations: 0
If you do this, does the conversion amount count against the $3000 Roth IRA contribution limit for the year(2002)?

Unrelated question:

I have a Coca Cola DRiP plan in a custodial(UTMA) account. In between when I had the broker put the certificate in our name and when the paperwork to enroll in the plan went through, I received a dividend check. How do I treat this money?

The KO rep said I can't use the dividend check to buy shares(directly anyway), and that since the income had been declared on a 1099-DIV, I could just put it in my account. True?

If not, is it a problem if I did deposit it into my checking account and used the money to repurchase more shares under their voluntary share purchase option?

Thanks for any help.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.