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Anyone know the answer to the following:

I'm 31, I make $190k and I've been buying tech stocks for a few years (MSFTs, INTCs, CSCOs). I don't sell. Because I don't sell, I haven't seen the need for an IRA (I'm disqualified from any tax deduction -- I think). However, the speculative bug has hit me recently, so I think I'll dabble and shield my winnings from capital gains taxes.

My question is: Can I convey my $2,000 contribution to the IRA in the form of already-owned stock? Would it be considered a sale (complete with capital gains) and a subsequent purchase or would my basis in the stock be the purchase price I paid before I set up the IRA?
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