If you want to use the current stocks, you will need to sell them recognize gain or loss, as appropriate, use the net proceeds to fund the IRA, then repurcahse the same stocks if you still want to own them (and avoid the wash-sale rule if you sold for a loss).There was a controversy about avoiding the wash sale rules by selling stock outside of a retirement account at a loss and then repurchasing the same stock within 30 days in an IRA. IRS recently published a regulation prohibiting such transactions to avoid the wash sale rules. Arleen
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