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What should I do in this situation? Brokerage to Roth?

Posted on 4/9/20 at 12:23 pm
Posted by Clint Torres
Member since Oct 2011
2715 posts
Posted on 4/9/20 at 12:23 pm
I've contributed about $10k to a Vanguard brokerage account in 2020. As you might imagine stock I've purchased is down a bit.

I was wondering if it makes sense to sell the stock now and xfer the cash to an IRA and then backdoor it to a Roth IRA only to buy the stock again? Is this mechanism possible? What are the downsides?
This post was edited on 4/9/20 at 12:25 pm
Posted by sandwolf
Member since Jun 2015
61 posts
Posted on 4/9/20 at 4:04 pm to
Could you not just transfer from your brokerage straight to your Roth? What would be the purpose of going to the IRA and then back dooring the Roth?
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
36637 posts
Posted on 4/9/20 at 4:05 pm to
I assume he's above the limits to put directly into a ROTH
Posted by Clint Torres
Member since Oct 2011
2715 posts
Posted on 4/9/20 at 4:54 pm to
quote:

I assume he's above the limits to put directly into a ROTH


correct..
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