IRA pull today 2019 or 2020?

[bizlady]

We had a little room in our tax bracket so sold some shares in my Trad IRA today before market close. Funds will hit our checkbook Jan 3. So will vanguard count this still as part of a 2019 distribution??

 

[HI Bill]

I'm pretty sure if the sell executed today, it will be 2019.

 

[Gill]

Yes, it is a 2019 withdrawal.
Gill

 

[pb4uski]

+3

 

[Gill]

You say you sold it but we’re assuming you also withdrew the proceeds.
Gill

 

[Sunset]

You say you sold it but we’re assuming you also withdrew the proceeds.
Gill

Good catch, OP needed to withdraw the funds in 2019 to count as 2019, simply selling the shares won't count, now if it's a mutual fund, perhaps that is all in one action, unlike a brokerage account.

 

[Gill]

The fact he talked about the funds going to his checking account led me to conclude he requested a withdrawal.
Gill

 

[NW-Bound]

I just made one more IRA withdrawal an hour ago, in order for it to qualify as 2019 withdrawal. The money was instantly transferred from the Merrill Edge account to my B of A checking account.

Same thing happens when I transfer between my Schwab accounts. When I hit "Confirm", the money immediately jumps from the right pocket to the left pocket, minus what goes to Uncle Sam.

I also have 3 Vanguard accounts, but never check to see if they offer checking accounts.

 

[pb4uski]

The fact he talked about the funds going to his checking account led me to conclude he requested a withdrawal.
Gill

+1. From what he posted it sounded like he sold shares and ordered that the proceeds be transfered to his bank account...so a sale and withdrawal.