First post, long-time lurker. As a note- this is not a question about asset allocation; there are plenty of other threads where I can get that info.
About 3 years ago I got control of an investment account from my parents that had about $250k worth of individual stocks. Pretty well diversified, about 25-30 stocks including AMZN (which is currently 25% of the portfolio. I know, big red flag.). After some ups and downs, the overall value of the account is about $320k now.
After reading about index funds and their benefits, I want to switch from individual stocks to the index funds. The problem is that I would incur over $150k in capital gains to make the switch, and I (obviously) don't want to pay taxes just to switch from stocks to funds.
Has anyone done this before? Did you have to pay huge taxes on the transfer? If not, how did you avoid it?
My broker is TD Ameritrade. Thanks everyone!