dmertz
Level 15

Retirement tax questions

Thanks SteamTrain. 

 

[Edit]  I've deleted the questions that were originally in this reply and were all answered while I was creating this reply.

 

In the end, the shares were not moved in-kind.  The Form 1099-B that should be forthcoming and the Roth IRA contribution both need to be entered.  You actually did have constructive receipt of the cash from the sale, but immediately put it into the Roth IRA as a cash contribution.

 

The only question that remains is whether there was a loss on the sale shown on the Form 1099-B.  If so, this is a wash sale where the loss can never be recognized to offset any capital gains, assuming that the same shares were repurchased inside the Roth IRA.

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