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Exchange taxable MF for ROTH to fund 2016?
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Topic: Exchange taxable MF for ROTH to fund 2016? (Read 1566 times)
tryathlete2011
5 O'Clock Shadow
Posts: 27
Exchange taxable MF for ROTH to fund 2016?
«
on:
January 04, 2016, 07:31:56 AM »
I have a pretty basic question. I have about 100k sitting in a taxable mutual fund with Vanguard and was thinking of taking 5500 of that to fund my Roth for the year immediately. Is there any negative effect taxwise to such an exchange?
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dandarc
Walrus Stache
Posts: 5488
Age: 41
Pronouns: he/him/his
Re: Exchange taxable MF for ROTH to fund 2016?
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Reply #1 on:
January 04, 2016, 07:38:51 AM »
If you would realize a capital gain from selling the $5500 worth of shares, then yes. You can't transfer in-kind from a regular brokerage to an IRA.
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tryathlete2011
5 O'Clock Shadow
Posts: 27
Re: Exchange taxable MF for ROTH to fund 2016?
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Reply #2 on:
January 04, 2016, 07:52:52 AM »
I was afraid of that, thanks.
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braje
5 O'Clock Shadow
Posts: 70
Re: Exchange taxable MF for ROTH to fund 2016?
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Reply #3 on:
January 04, 2016, 11:49:57 PM »
What are the gains, are they short term or lower ft term, what is your tax rate?
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Exchange taxable MF for ROTH to fund 2016?