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Strategies & Market Trends : Roth IRA ideas
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To: Trevor Goodchild who wrote (117)4/29/1998 2:04:00 PM
From: mod  Read Replies (2) of 388
 
Trevor,

The move from a regular IRA to a Roth does not happen immediately. I transferred some funds from a SEP-IRA to an IRA to a Roth IRA, and it took a few days. I suspect the IRS will not appreciate trying to look back to the previous day's close if you transfer the funds the next day, which is what the trustee would do.

Also, not sure what you mean about "close the IRA and write off the losing position". You cannot deduct losses in an IRA from your taxable income.

Now, there may be a way to accomplish what you are trying to do. There is a pending technical corrections bill

rothira.com

that would allow you to move funds back from a Roth IRA to a regular IRA so long as you do it by your tax return due date. If this passes, you might be able to set up multiple Roth accounts and trade each separately. At the end of the year, you could transfer back to a regular IRA the lower performing Roth IRA accounts and owe no conversion taxes. I have no idea if this would be allowed, but it may be a possibility.

Dennis
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