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I contributed $1,500 to a Roth IRA for tax year 2000, and used the money to purchase some stock. I have just discovered that my income, due to the sale of property, is too high to contribute to a Roth IRA and must be withdrawn. The problem is that the price of the stock I purchased has dropped in half. Therefore, I do not want to have to liquidate the stock to get the 1,500 transferred out. Can I transfer the stock out in a like kind transaction into a regular account? If so how would that work with the value of the stock being much lower than the $1,500 I put in? If the value of the stock is now $750 would I have to sell double the amount of stock to come up with the $1,500 I invested, or would I just determine the current value of the shares I purchased with the $1,500 and withdraw its current value? Any help would be greatly appreciated. Thanks.
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