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Author: flh Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121598  
Subject: IRA Roth Tax and E-Trade Date: 12/14/1998 8:28 PM
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I would like to transfer my cash balance from my IRA to a Roth IRA. However, because of the brokerage charges of $55-150 per trade (that I designate), I want to open an "E-Trade" type of account and manage the new ROTH IRA myself for the $7-8 brokerage charge per sale/buy. How do I sign up for an on-line account and have it designated as a ROTH IRA that I control. I obviously need to do this by Dec 31, 1999.

flh
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Author: SmartFooltoo Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7180 of 121598
Subject: Re: IRA Roth Tax and E-Trade Date: 12/14/1998 8:40 PM
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2 ways u may open a Roth IRA with E*Trade. One is apply on-line and print out the form, signed it and mail together with ur check. Or u may request a Roth IRA package mail to u and fill it up, sign it and sent with payment. Make sure u designate u want a Roth IRA when applying. By the way, they charge 14.95 for NYSE and 19.95 for NASDAQ listings.

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Author: cigardan1 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7190 of 121598
Subject: Re: IRA Roth Tax and E-Trade Date: 12/14/1998 11:14 PM
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[2 ways u may open a Roth IRA with E*Trade. One is apply on-line and print out the form, signed it and mail together with ur check. Or u may request a Roth IRA package mail to u and fill it up, sign it and sent with payment. Make sure u designate u want a Roth IRA when applying. By the way, they charge 14.95 for NYSE and 19.95 for NASDAQ listings. ]

The same applies for Waterhouse. I converted from a previous 401k to a Roth, and Waterhouse was extremely helpful. I had to go from 401K(TRowePrice)to Conversion IRA(Waterhouse) to a Roth IRA(Waterhouse). I ordered the package, Called Waterhouse with my questions which they thoroughly answered, I filled out the paperwork, including the automatic transfer from TRowePrice, and Waterhouse did the rest. It took about 3 weeks from the time I sent the papers in to the time that I first traded. It was very easy.

By the way, Waterhouse is $12/trade.

Hope this helps.
Dan

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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 7220 of 121598
Subject: Re: IRA Roth Tax and E-Trade Date: 12/15/1998 10:52 AM
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[[I would like to transfer my cash balance from my IRA to a Roth IRA.]]

So far...so good...

[[ However, because of the
brokerage charges of $55-150 per trade (that I designate), I want to open an "E-Trade" type of
account and manage the new ROTH IRA myself for the $7-8 brokerage charge per sale/buy.]]

Well...that certainly makes sense.

[[ How
do I sign up for an on-line account and have it designated as a ROTH IRA that I control. I
obviously need to do this by Dec 31, 1999.]]

You first go to E-trade and speak with a representative. Tell them that you have an existing IRA account with another broker, and you want to open up a Roth IRA with e-trade.

The e-trade rep should be able to help you with opining the Roth IRA account. S/he will also be able to assist you with making the regular IRA transfer from your prior broker to your new e-trade account.

It MAY be possible that e-trade will require that you open (and make the initial transfer) into a regular IRA rollover account with e-trade, and THEN move those funds to an e-trade Roth IRA. But you'll have to discuss it with them.

Since these are all administrative issues (and not really tax issues), you'll really have to go to the source for a final answer.

TMF Taxes
Roy

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