Hello All,I purchased Whole Foods a while ago when it was near it's bottom ($10!) and bought it in a non-retirement brokerage account. At the time, it wasn't paying a dividend, I wasn't looking ahead, and I thought I would simply sell when it hit a certain dollar.Fast forwards to today, it's now $70 and paying a dividend. I'd like to put it into my Roth IRA but the only way (that I know of) doing this would be to sell the shares and then "re-buy" into my Roth. Am I correct?
I'd like to put it into my Roth IRA but the only way (that I know of) doing this would be to sell the shares and then "re-buy" into my Roth. Am I correct? You are correct regarding the law, but I question your plan. Why would you want to realize a taxable gain just to get the dividends into a Roth? Under current law the dividends are taxed at a favored rate, so it seems to me that the most prudent thing to do would be nothing. Then when you spot another undervalued Whole Paycheck (tip of the hat to a friend who came up with that one) you can buy that one in your Roth.PhilRule Your Retirement Home Fool
OK, thank you Phil.
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