Marc
Recycles dryer sheets
Been investing for 40 years and fine tuned my FIRE planning over the five years before retirement last year but, just this morning, I realized I might have missed something really valuable.
I have been fine tuning taxable income this year to take advantage of zero percent capital gains on significant ETF sales and use up remaining real estate loss that I have had to carry over for a few years (no longer have rental property, now my primary residence). My taxable income (MFJ) will be right at $101,400 which after standard deduction will keep me at zero capital gains.
My problem is getting ready for 2019; I need to withdraw money in January from my 403(b) in order to pay significant bills coming due. Adding to problem is that I will be out of country from early December until early February and Fidelity requires notarized signature by my wife for any transfers out of 403(b). My plan had been to establish a Rollover IRA (non-taxable event) and fund it in early January (Fidelity rep would hold onto notarized transfer form until first of year).
Today, I am thinking that maybe funding of the Rollover IRA is also NOT a taxable event; i.e., if I transfer 100K of FXAIX from 403(b) to Rollover IRA (FXAIX is supposed to be available for non institutional accounts) it would not affect 2018 taxes.
Was my old way thinking accurate (i.e., I cannot fund IRA until 2019) or is my new thought accurate (i.e., I can fund IRA now).
thanks,
Marc
I have been fine tuning taxable income this year to take advantage of zero percent capital gains on significant ETF sales and use up remaining real estate loss that I have had to carry over for a few years (no longer have rental property, now my primary residence). My taxable income (MFJ) will be right at $101,400 which after standard deduction will keep me at zero capital gains.
My problem is getting ready for 2019; I need to withdraw money in January from my 403(b) in order to pay significant bills coming due. Adding to problem is that I will be out of country from early December until early February and Fidelity requires notarized signature by my wife for any transfers out of 403(b). My plan had been to establish a Rollover IRA (non-taxable event) and fund it in early January (Fidelity rep would hold onto notarized transfer form until first of year).
Today, I am thinking that maybe funding of the Rollover IRA is also NOT a taxable event; i.e., if I transfer 100K of FXAIX from 403(b) to Rollover IRA (FXAIX is supposed to be available for non institutional accounts) it would not affect 2018 taxes.
Was my old way thinking accurate (i.e., I cannot fund IRA until 2019) or is my new thought accurate (i.e., I can fund IRA now).
thanks,
Marc