UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76384  
Subject: Re: account transfer and roth ira? Date: 12/10/1998 9:29 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Greetings, Jonny H, and welcome. You asked:

<<It's time to set up that Roth IRA before I have to start paying taxes again (I live and work outside the US). And I just realized how much Datek (I've been using them) charges to watch over an IRA compared to other discount brokers.
So I narrowed it down last night, and it looks like Suretrade has what I want. Dateks sez no fee to transfer in and out, as does Suretrade. And Suretrade doesn't charge for IRA maintenance.
But how difficult or possible is it to transfer (about)$4,000 worth of stocks I already bought into a Roth IRA account?>>


Unless those stocks are already in an IRA, you can't do it. Ordinary annual contributions to any IRA must be made in cash. If, though, you are talking IRA, it's merely a matter of asking that the shares be transferred directly from the traditional IRA custodian to the Roth IRA custodian. Declarable income will be based on the market value of those shares as of the transfer date.

And BTW…. You also cannot put more than $2K into a Roth in a year unless you are rolling money from a traditional IRA or another Roth IRA. You could, though, put $2K in your Roth and another $2K in your spouse's Roth.

Regards….Pixy
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Russia Collapsing Again?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement