I have two IRA accounts. I want to consolidate into the one that is creating a better return. The (not-as-good) financial institution wants to charge me $75 to process the "official" transfer of funds. There is no fee to take a distribution. I am over the age of 59 1/2 so I could just take a distribution, but I then want to put it back into the better account. We're only talking about $2,000.
Will the tax effects offset each other?
Other background: I'm still working and making over 100k/yr. Putting the 2k into the better account will not cause me to exceed the max. allowable contribution this year.
Thanks for your input!
