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Level 1
June 1, 2019
Solved

If I move my Fidelity Roth Ira to a money market Fidelity assures me there are no penalties nor will I have to enter as income for my 2019 taxes..

  • June 1, 2019
  • 1 reply
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Best answer by MichaelL1

If you move the money form stock to money market there is nothing to report.

Otherwise there should be a 1099R however due to Roth and if you meant the criteria there would be no income taxes.

Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free.


1 reply

MichaelL1
MichaelL1Answer
Level 15
June 1, 2019

If you move the money form stock to money market there is nothing to report.

Otherwise there should be a 1099R however due to Roth and if you meant the criteria there would be no income taxes.

Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free.