The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Another IRA RMD Question Date:  7/21/2011  9:04 AM
Author:  irasmilo Number:  113783 of 130449

The IRA is at broker "S" and my Roth is at broker "V". Do I need to have broker "S" make a direct transfer on can I just take their check and send it on to the Roth broker?

Unless things have changed, the best way to do this is tell the broker V to get the IRA from broker S. You want to be sure that none of the money, stocks, etc., passes through your hands at any time.

That's correct for a routine conversion, but the OP wants to convert an RMD, which is not allowed.

Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us