topic If I moved my Roth IRA from a bank to a brokerage account, do I answer Yes for "did you sell any stocks, bonds, mutual fund shares or other investments? in Investors & landlords

If I moved my Roth IRA from a bank to a brokerage account, do I answer Yes for "did you sell any stocks, bonds, mutual fund shares or other investments?

uvg2017 — Sun, 07 Mar 2021 18:29:27 GMT

To my knowledge, I have only sold shares myself WITHIN the brokerage acct/Roth IRA. I have received no cash from it. Unless they were technically sold when the bank moved my holdings to TD Ameritrade

Re: If I moved my Roth IRA from a bank to a brokerage account, do I answer Yes for "did you sell ...

DanaB27 — Sun, 07 Mar 2021 18:57:47 GMT

No, if you only sold shares within your Roth account and did not make any trades in your private brokerage account then you will select "no" for "did you sell any stocks, bonds, mutual fund shares or other investments?"

Re: If I moved my Roth IRA from a bank to a brokerage account, do I answer Yes for "did you sell any stocks, bonds, mutual fund shares or other investments?

clgoughnour — Sun, 07 Mar 2021 19:37:13 GMT

You would not answer Yes unless you had stock transactions in a non-retirement account. The transfer of your Roth from a bank to a brokerage is a trustee to trustee transfer. As long as the funds remained in a Roth IRA there is no tax reporting. Even if stocks or mutual funds were sold before you moved the account, transactions within a retirement account are not reportable for gains/loss purposes. You pay ordinary income on the withdrawals from Traditional IRAs. The Roth IRA is not subject to income tax unless you have not held the Roth for 5 years. And in that case, only the earnings in the Roth are taxable.