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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: distribution Date: 11/8/1999 8:43 AM
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Greetings, Ski540, and welcome. You asked:

<<Instead of selling shares of stock, can you transfer the stock out of the ira and pay the taxes out of pocket?>>

Yes, you can. You may ask the broker to transfer those shares to a taxable account. On transfer, you will have a taxable distribution from the IRA that equals the market value of those shares on the day of the transfer plus any fee the broker may assess. Your basis for future capital gains purposes becomes that sum, and it is also the income you must report for ordinary taxation purposes that year.

Regards..Pixy
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