Roth IRA Conversion


J

Jon_Hildrum

How would I handle a conversion from a standard IRA to a Roth IRA ???
 
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C

Cal Learner-- MVP

In said:
How would I handle a conversion from a standard IRA to a Roth IRA ???
Money does not have a special treatment for Roths. So there are at
last a couple ways. If not downloading, I would tend to just rename
the account in Money and change the account number.

Alternatively, you could create a new account, sell the contents of
the old account, transfer the funds to the new account, and Buy the
securities.

If downloading, I would see what downloaded and tend to follow
along, and tweak as needed.

In any case, Money is not going to get the event to your tax forms
for you.
 
J

Jon_Hildrum

Thanks Cal,

I was not expecting it to handle the tax consequences. I think I will
Try the sell/ buy approach since there is already an Roth IRA account
and I'm converting part of a Rollover IRA which will go to an existing Roth
IRA account.
 
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E

Ed Markovich

I was not expecting it to handle the tax consequences. I think I will
Try the sell/ buy approach since there is already an Roth IRA account
and I'm converting part of a Rollover IRA which will go to an existing Roth
IRA account.
If you're transfering shares of a stock/fund from one account to
another, you should use the transfer shares approach. Go into the
"from" account and create a new transaction. The type will be
"Transfer Out" and you will be able to specify the "to" account.
 

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