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Moving Roth to Vanguard

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  • Avatar standupguy 
    Participant
    Status: Student
    Posts: 31
    Joined: 03/21/2016

    Hey all,

     

    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!

    #214411 Reply
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 2818
    Joined: 09/18/2018

    Sounds like transaction costs would point to the answer. Where is it cheaper to sell?

    #214419 Reply
    Liked by Lordosis
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7938
    Joined: 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 ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #214424 Reply

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