<<<< My question is: Can I convey my $2,000 contribution to the IRA in the form of already-owned stock? Would it be considered a sale (complete with capital gains) and a subsequent purchase or would my basis in the stock be the purchase price I paid before I set up the IRA? >> It's a change in ownership, from you to the IRA custodian for your benefit. Sorry, you'd have to recognize the gain.>>As pointed out in a previous post, you can't transfer stock in order to make an IRA contribution...no matter how you treat it. Contributions must be made in cash...greenback dollars. Not stock conversions or transfers. Sorry.TMF TaxesRoy
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