Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (438)	1/13/1998 3:55:00 PM
From: Mitch Aunger	Read Replies (1) of 5810

Colin... howdy! I was sent to this thread by someone when I asked the following tax question. I had no idea this thread was even around, much less that you seem to be the guru here. Glad to see your stuff. I've read thru a little bit of the stuff here and didn't find this question posted before (but I didn't spend all day looking either...). I bought some private placement shares (in two different stocks) at $1.00 per share in my IRA and I'm thinking of either rolling them to a ROTH IRA or out of my IRA to a non IRA account (paying the nasty 10% penalty of course). Neither stock is publicly trading yet. I think that by doing this action NOW, before the IPO, will mean I will pay much less in taxes but I want to know the right way to value the shares. I'm assuming the only way to value them is at the price I paid - $1.00. I mean, if they aren't publicly traded, how could anyone else come up with a valid price valuation? Thanks for help or suggestions on where to go (to get the right answer). Mitch

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