Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I added to an existing roth ira in jan of this year and now it looks as though i will exceed the income limits. How do i go about converting that portion to a regular ira. In one account that i added $2000 i bought HGSI and spent less than the 2000 however the stock is now up about 55% do i have to sell? In another account that i added 2000 i bought slightly more than 2000 of amgen. do i have to sell both of these and then transfer a portion or all of the money to a regular ira please help...

if i gift someone stock that is worth 9500 do i or the person who is being gifted have to report to irs on any form even though neither of us have to pay taxes? Also is it better to wait until jan 2001 to take advantage of the new long long term capital gains 8/18%? If so i have a high tax basis ie i paid $15 for stock now worth about $140/share would that affect decision?
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.