hi,
I'm over 60 years old and retired. I've transferred a few stocks (not MF, just to be clear, but individual stocks) from my IRA to my ROTH IRA account (within same trustee) same as part of my tax managing strategy. I'm having an ongoing contentious discussion with the trustee staff about the declared value of each stock transferred. I had read somewhere (I couldn't remember where and couldn't locate it so far in the IRS site) that the value should be based on the closing price of the day prior to the day of transfer itself (transfer was done during regular trading hours), not on the closing price of the day of transfer. This makes a difference because the closing price of the day before is significantly less than the closing price on the day of transfer. I'm being brushed off by the people I've been talking to with the statement that "it is how their system calculates it" (using closing price on day of transfer) so they can't do anything about it.
My other recourse, if they don't change it, is to file a manually modified one and provide the explanation but I need help finding the reference material to back my position up. I hope someone has the knowledge and info about this to help me here or correct me on my understanding. Many thanks!
