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Author: harrytuttle Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: Existing securities and IRAs Date: 12/17/1999 12:22 AM
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I have some mutual funds that I have owned for several years. I would like to put them into an IRA. Will I be taxed on the capital gains if I put them into an IRA?
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Author: Bob78164 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16454 of 75381
Subject: Re: Existing securities and IRAs Date: 12/17/1999 2:12 AM
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harrytuttle writes:

I have some mutual funds that I have owned for several years. I would like to put them into an IRA. Will I be taxed on the capital gains if I put them into an IRA?

I reply:

I'm afraid that you simply can't do it. Contributions to an IRA can only be made in cash. If you wish, you may sell the mutual funds (up to your annual $2000 contribution limit), thereby triggering capital gains taxes, and then repurchase the funds within the IRA after making your contribution, but that's as close as you can come. If your funds have lost money (unlikely since you've owned them for years), be certain to avoid any risk of tripping over the wash sale rule. --Bob

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Author: harrytuttle Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 16502 of 75381
Subject: Re: Existing securities and IRAs Date: 12/17/1999 4:08 PM
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Thanks for the excellent advice Bob. It was just a thought. Guess I'll just hold on to them and avoid the capital gains tax.

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