NW-Bound
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- Joined
- Jul 3, 2008
- Messages
- 35,712
Just made my 1st IRA withdrawal ever. No more Roth conversion. I need spending money, and do not want to draw down my after-tax money too much.
I wanted to withdraw in-kind stocks from a Schwab IRA to a Schwab brokerage, but they have no online tool for me to do it. They had it for Roth conversion though.
So, had to do it through a chat session, and the agent did it for me in seconds. The amount reported to the IRS is real-time value of the stocks, right as she hits her <enter> button. And the stocks now appear in my after-tax account, to sell for cash whenever I need some money for food (and travel).
I guess real-time stock valuation was used for my DIY past Roth conversion too, but I was not paying attention.
I wanted to withdraw in-kind stocks from a Schwab IRA to a Schwab brokerage, but they have no online tool for me to do it. They had it for Roth conversion though.
So, had to do it through a chat session, and the agent did it for me in seconds. The amount reported to the IRS is real-time value of the stocks, right as she hits her <enter> button. And the stocks now appear in my after-tax account, to sell for cash whenever I need some money for food (and travel).
I guess real-time stock valuation was used for my DIY past Roth conversion too, but I was not paying attention.
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