I recently moved all funds from a Charles Schwab PCRA (Personal Choice Retirement Account, pre tax) which was not invested in stocks/money market to a Traditional IRA at Navy Federal credit union. Are there any tax implications that I need to be concerned about?
You'll need to sign in or create an account to connect with an expert.
No tax implications. Best if you did a direct institution to institution transfer.
You will get a 1099R in January so watch for it. It should not be taxable but you need to enter it into your tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
austeve79
Returning Member
Eddie 3
New Member
mjkmjkmjk
Returning Member
mjkmjkmjk
Returning Member
lllbby
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.