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Financial Planning / Tax Strategies


Subject:  Re: keoghs and stocks Date:  8/23/1999  5:06 PM
Author:  hghcpa Number:  18378 of 127747

Is it possible to do so while keeping the money in a Keogh account, or is converting to another savings vehicle -- SEP or IRA Roth, for example -- necessary?
If your goal is to simply manage the existing funds yourself you can establish a new account with the brokerage of your choice - indicating to them that it will fund a rollover KEOUGH. Request a trustee to trustee transfer of these funds to your new account. Depending on where you have the funds invested now the current trustee may likely have to liquidate existing shares of mutual funds and transfer the cash to the new trustee. As long as you do not receive the funds and they are rolled via this "trustee to trustee" transfer then no taxes will be due on the transaction. Once your account is set up with the new brokerage you can then begin the management of those funds yourself.
You can of course add to the KEOUGH in the coming years if your self employment income continues and you desire to make future contributions.

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