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IRA stock rollover to Roth - minimum wait days
Posted on 8/26/20 at 9:20 am
Posted on 8/26/20 at 9:20 am
My 2020 Roth contribution is maxed out. Bought a few shares of Tesla on 8/14 in traditional IRA to participate in upcoming split. I plan to rollover the Tesla to my Roth asap.
Is there a waiting period/minimum required number of days to hold in IRA prior to rollover to avoid penalties/considered excess 2020 contribution etc.?
Is there a waiting period/minimum required number of days to hold in IRA prior to rollover to avoid penalties/considered excess 2020 contribution etc.?
This post was edited on 8/26/20 at 9:35 am
1
Posted on 8/26/20 at 5:49 pm to OYB
quote:
Is there a waiting period/minimum required number of days to hold in IRA prior to rollover to avoid penalties/considered excess 2020 contribution etc.?
I don't think so, should wait until the stock trade settles prior to RO. If it were me, and you have zero RO funds in your existing Roth, ie annual contributions only, I would open a new Roth and use it for RO purposes only so if something goes wrong you have a separate account with only the one holding and would be easier to unwind and document.
This post was edited on 8/26/20 at 5:53 pm
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