Yes, I'm sure this has been asked before, but there are so many posts and I can't think how to word a search of the boards that will return less than 500 to sort through...If I were to take X shares of some stock to make as a contribution to my IRA (I can do this can't I? Or do contributions have to be cash?), with the volitility of the market, how can I ensure that I don't go over the contribution limits? Do I have to "dribble" the shares in? Is there anything like a "limit" transfer (analogous to a limit order)?
JamieScott asked: If I were to take X shares of some stock to make as a contribution to my IRA (I can do this can't I? Or do contributions have to be cash?)You are not allowed to contribute stock to an IRA, only cash.
for JamieScott:Zen has it right. http://www.irs.ustreas.gov/forms_pubs/pubs/p5900104.htm says As soon as you set up your traditional IRA, contributions can be made to it through your chosen sponsor (trustee or other administrator). Contributions must be in the form of money (cash, check or money order). Property cannot be contributed. However, you may be able to transfer or roll over certain property from one retirement plan to another.
OUUUYou can transfer stock in from another IRA or 401k. Your annual contributions of 2000 must be in the form of cash or check.As my wife would sayyou Smart-al-ick
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