Moving Money from Investment Account

[amamedova]

Hello,

I have an investment account. If I move money from its CORE (without trading anything) to my checking account, is the amount of money I move "taxable income"?

Thanks!

[Bsch4477]

If you are moving money from a cash or money market type of holding there are no consequences. 

[KellyMatthews1]

You generally don't have to worry about it being considered taxable income. But hey, I'm not a tax expert, so it's always a good idea to double-check with one just to be on the safe side. First, I recommend you figure out how to do a backdoor roth ira. It can be a smart move for your investments. If you're interested, I can give you some tips to get started.

[vincep7324]

You should only have to pay taxes on interest or capital gains/ trading income.

The IRS may want a cost basis for the amount of money moved, as they track EVERYTHING.

Im not a tax professional but this has been my experience.