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Author: Alteno Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Tax on Roth IRA Asset Transfer Date: 1/10/2000 7:24 PM
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Is a transfer of all or part of the assets in an existing Roth IRA to another one taxable? I assume no. For example, if a guy currently has an IRA invested in an index fund but then decides to open a discount brokerage Roth IRA to start investing "a la Foolish Four with some of the assets in the current IRA, will there be any tax consequences to this? Any comments welcome.
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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: 17636 of 76237
Subject: Re: Tax on Roth IRA Asset Transfer Date: 1/11/2000 9:37 AM
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Greetings, Alteno, and welcome. You asked:

<<Is a transfer of all or part of the assets in an existing Roth IRA to another one taxable? I assume no. For example, if a guy currently has an IRA invested in an index fund but then decides to open a discount brokerage Roth IRA to start investing "a la Foolish Four with some of the assets in the current IRA, will there be any tax consequences to this? Any comments welcome.>>

A direct transfer of assets from one Roth to another Roth has no tax impact. A direct transfer from a traditional IRA to a Roth IRA does. A transfer from a Roth IRA to a traditional IRA is not allowed at all except as a recharacterization of Roth annual contributions or conversions under strict guidelines.

Regards..Pixy

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