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03-28-2016, 02:33 PM
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#1
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Recycles dryer sheets
Join Date: Jun 2014
Posts: 67
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ROTH IRA contribution
Does anyone know if it is possible/legal to contribute to an (existing) ROTH IRA account by doing an "in kind transfer" of equities from an after-tax brokerage account to the ROTH IRA account? I'd like to not have to liquidate the assets (and so have that tax hit) in order to to max out my ROTH IRA contribution this year.
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03-28-2016, 03:10 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Dec 2015
Location: Michigan
Posts: 5,003
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I think you should be able to do this. Contact your IRA account firm and get the details from them.
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"The mountains are calling, and I must go." John Muir
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03-28-2016, 03:23 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jun 2005
Posts: 10,252
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Sorry, not legal. You want to avoid the capital gains tax by not selling. Not possible.
If it was possible, I would have been doing this for years and years.
But donate that position to charity instead if it has been held long-term. Get the tax deduction (if you itemize) and avoid long-term cap gains taxes. 
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03-28-2016, 08:52 PM
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#5
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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 Quote:
Originally Posted by LOL!
Sorry, not legal. You want to avoid the capital gains tax by not selling. Not possible.
If it was possible, I would have been doing this for years and years.
But donate that position to charity instead if it has been held long-term. Get the tax deduction (if you itemize) and avoid long-term cap gains taxes. |
Could you explain this? There's no cap gains tax for tax deferred holdings. I assume you wound have to pay ordinary income tax on the value and you could have the identical stocks in the Roth, but not sure if this could be done without selling.
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03-28-2016, 09:08 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Aug 2004
Location: Laurel, MD
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Quote:
Originally Posted by jazz4cash
Could you explain this? There's no cap gains tax for tax deferred holdings. I assume you wound have to pay ordinary income tax on the value and you could have the identical stocks in the Roth, but not sure if this could be done without selling.
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Never mind. I mis-read OP.
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...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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03-28-2016, 11:10 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,098
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Nope,
Just think, I have a stock I bought for $1 now its worth $100,000.
If I could transfer it in kind to my Roth IRA, then once it was in there, I could sell it all tax free !
Nobody would ever have capital gains, so no it's not allowed.
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