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Strategies & Market Trends : Roth IRA ideas
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To: Bill Shepherd who wrote (44)2/1/1998 2:18:00 PM
From: John Stinnett  Read Replies (1) of 388
 
Bill,

Concerning tranferring stock from a traditional IRA to a Roth IRA You said
"I think they would actually have to sell and repurchase the shares. Otherwise,how could they establish a new basis, what with the nature of the market?? "

I recently transferred all of my Oracle stock (since it is down so much) to my newly opened Roth IRA. Waterhouse has a form in which you list the securities you'd like to transfer and in a matter of a few days the stock is transferred. I also proceeded to transfer every other "dog" stock I own to minimize the tax hit.

I believe Waterhouse will send me some kind of year end 1099-??? that will list everything I transferred in 98 for tax purposes.

Hope this helps,
JCS
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