Can I move a mutual fund to a Roth IRA account and not pay any taxes?
August 28th, 2010
I’ve got a Vanguard mutual fund in a non-retirement account. I’ve had it about 3 years now. I’d like to move it to a Roth IRA account, but I do not want this to be a taxable event. Is there any way I can do that? Or must I sell them, pay capital gains on the earnings, and then use that money to invest in a Roth IRA.
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Posted in Top Rated Mutual Funds | 
Tags: 3 years, capital gains, earnings, money, retirement account, roth ira account, vanguard mutual fund
You can’t. IRA contributions must be in cash. You’d have to sell the taxable fund first.
You’ll probably have to sell the stock then move the cash, since the only money that’s supposed to go into a Roth is earned income.
Check with Fidelity. They are very nice and informative over there. You may able to move it into a traditional IRA, then over to a Roth. but i am not for sure.
Correct on the selling it first. You can’t move assets into a Roth IRA, unless it is coming from another Roth IRA. They have to preserve the quality of all contributions having been previously taxed.