- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
It depends. Moving money into one investment account into another does not generate a taxable event. One exception is If your account that you transfer is a Traditional IRA and if you transfer it to a non-traditional IRA or another type of brokerage account, then the transfer is taxable.
Another possible exception is if your transfer is not a direct transfer. For an example, if you liquidate some the assets you hold at your current brokerage, receive a check, then walk across the street to open another brokerage account, you may have to pay capital gains taxes on the transfer because this is treated like a the sale of any securities in a taxable account (like an individual or joint trust account).
Do a direct transfer within the brokerage and this transfer will not be taxable unless you are transferring a non-traditional IRA.
**Mark the post that answers your question by clicking on "Mark as Best Answer"