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I am not sure this is the right message board, so please direct me to another board if appropriate. I have a ROTH IRA in the form of a CD in my credit union. It has just been sitting there for a few years and I finally decided to transfer it into my brokerage account with Etrade. They tell me they cannot transfer it "in kind" because it is a Roth CD, and that I must liquidate it, in order to transfer it into my Etrade account. It is about $6800. I am 64. Can someone tell me if this is correct - that they cannot transfer it as a Roth CD? And then if I have to liquidate it, I will have to pay income tax on it as ordinary income? Or what are my penalties for liquidating it early. By the way, the credit union does not charge me to liquidate it before it's CD maturity date -- I am just trying to figure out the tax consequences regarding early withdrawal and my age. Thanks!
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