Is it possible to transfer current stock shares into a new ROTH IRA account?
Question:
Answer:
No, you can only deposit cash. You have to sell your shares first.
Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
http://investing.sitesled.com/
I am sure that you can get your answers in this website.
Good Luck and Best Wishes!
You need to find out if your investment broker has Roth IRA'S. You will not have any fees or penalties because you will have to sell the stocks first, only taxes. If you have owned them less than a full year they will be considered short term capital gains. Taxed at your normal tax bracket 25-28%. If owned over a year long term capital gains at 10-15%.
More Questions & Answers...