In 2009 I made a 5000 IRA contribution. I was not able to use this because of my 401k contributions did not allow me to take the deduction on my 2009 taxes.
I purchased 15 shares of apple with part of that $5000. There was again of roughly $900 when I decided to transfer the Apple Stock to a Roth-IRA. To offset that gain I sold other stock in that IRA at a loss. I then transferred that Apple stock to a Roth-IRA roughly $3800. How do I keep from paying taxes on this IRA to Roth-IRA conversion?
I did the conversion in June of 2010 to a Roth at TD Ameritrade and they issued me a 1099R.
Thanks
I purchased 15 shares of apple with part of that $5000. There was again of roughly $900 when I decided to transfer the Apple Stock to a Roth-IRA. To offset that gain I sold other stock in that IRA at a loss. I then transferred that Apple stock to a Roth-IRA roughly $3800. How do I keep from paying taxes on this IRA to Roth-IRA conversion?
I did the conversion in June of 2010 to a Roth at TD Ameritrade and they issued me a 1099R.
Thanks