Mutual fund Sales / transfer

[tjurko621]

If we sold off our mutual funds / stocks but transferred them into a different type of account (long term growth account) Do we have to pay taxes on that even though we did not receive any money in hand? 

Thanks

[Bsch4477]

Yes. If the transactions were made in a non retirement account any profits are subject to tax. Even though you didn’t receive income in hand you still had income that you used for reinvestment. 

[tjurko621]

Ok thanks but what if we rolled everything over into an Annuity for retirement? Do we still get taxed? We received a 1099-B from the broker we moved the funds from. 

Thanks for your input!!

[Bsch4477]

If the sale of assets was made in a non retirement account it does not matter what you did with the proceeds.  The profit is taxed.