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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Richard N. Barg who wrote (5870)	6/29/1999 9:23:00 PM
From: ChopChop99	Read Replies (1) \| Respond to of 16809

IRA question... I'm foggy on the whole IRA issue, but maybe this will be a simple question for someone to answer. If, for example, I can put $10K in an IRA this year and it be tax deductible, how does that work in a stock account? Is it based on what you paid for the stock? Specifically, if I transfer stocks from a standard account into an IRA account, do I calculate the $10K max based on the current value of the stocks when they're transferred to the IRA, or calculate it based on the price I originally paid for the stocks? Hope this makes sense... ChopIRAdummy