Guest vs Posted January 22, 2001 Posted January 22, 2001 I have about $1500 in a stock portfolio. Can I use these stocks to start a Roth IRA? I also have a small bond portfolio. Can these be used as well? It would seem a waste to me to sell a portfolio, incur taxes, and then fund a Roth.
John G Posted January 23, 2001 Posted January 23, 2001 No. Roths must be funded with cash. If the stocks or bonds are in an existing IRA, then these assets can be converted to a Roth. You don't have to sell either the stocks or bonds if you have cash to fund an Roth. Short on cash? Then consider a monthly auto deposit program to fund the Roth over the year.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now