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Author: tomyrush Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75537  
Subject: IRA withdrawals Date: 12/28/1998 3:48 PM
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I am 60 and trying to decide what I want to do with my IRA. May I withdraw 100 shares of XYZ and use the value as my IRA withdrawal for a year - or do I have to cash out the stock?

Thanks

Tom
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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: 7535 of 75537
Subject: Re: IRA withdrawals Date: 12/29/1998 10:48 AM
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Greetings, Tom, and welcome. You asked:

<<I am 60 and trying to decide what I want to do with my IRA. May I withdraw 100 shares of XYZ and use the value as my IRA withdrawal for a year - or do I have to cash out the stock?>>

No, you don't have to cash out the stock unless you want to. Instead, you may instruct your broker to transfer shares from your IRA to a taxable account. The market value on the transfer date will be shown as the IRA withdrawal amount, and that's the sum on which you will pay taxes. It's also the basis of those shares for the future calculation of capital gain/loss. The holding period for the computation of the latter starts on the transfer date of the shares from the IRA to the taxable account.

Regards….Pixy


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