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posted Jun 1, 2019 12:41:23 PM

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..

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Level 15
Jun 1, 2019 12:41:24 PM

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 Replies
Level 15
Jun 1, 2019 12:41:24 PM

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.