11

My cash is already in the stock. Can I just transfer the stock to my Roth IRA?

Chris W. Rea
  • 31,999
  • 17
  • 103
  • 191
zundarz
  • 1,182
  • 4
  • 14
  • 24

1 Answers1

17

No. A deposit to an IRA must be in cash. A conversion from traditional IRA to Roth can be "in kind" i.e. As a stock transfer. Last, any withdrawals can also be in stock or funds.

IRS Publication 590, so important, it's now in 2 sections Part A and Part B, addresses IRA issues such as this as well as most others.

By the way - now on page 7 - "Contributions, except for rollover contributions, must be in cash."

JoeTaxpayer
  • 172,694
  • 34
  • 299
  • 561