standupguyParticipantStatus: StudentPosts: 31Joined: 03/21/2016
Moving a Roth IRA from one broker to Vanguard. Current account is in a mutual fund (non-vanguard). I plan on doing a transfer to vanguard and investing into VTSAX. A little confused on the process. Do I do the transfer in kind to vanguard and then sell the original fund and buy the vanguard fund? Or do I sell the fund in original account, transfer to vanguard, and buy VTSAX? Or does it even matter which way.
Also, there shouldn’t be any tax implications as the money will be staying in a Roth IRA correct?
Thanks!May 13, 2019 at 9:18 pm MST #214411TimParticipantStatus: AccountantPosts: 2123Joined: 09/18/2018
Sounds like transaction costs would point to the answer. Where is it cheaper to sell?jfoxcpacfpModeratorStatus: Financial Advisor, Accountant, Small Business OwnerPosts: 7326Joined: 01/09/2016
No tax implications. Otherwise, as @tim said, use whichever custodian has lower trx costs for the sale/purchase.
Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~ 270-247-0555
https://fox-cpas.com/for-doctors-only/May 14, 2019 at 4:55 am MST #214424