Transfer stock holding to brokerage account
Is it possible to transfer intact a stock holding from IRA to Brokerage account, and use this as mandatory distribution? And pay tax of course.
Is it possible to transfer intact a stock holding from IRA to Brokerage account, and use this as mandatory distribution? And pay tax of course.
Permalink Submitted by Alan Spross on Thu, 2008-07-31 03:02
Yes, this can be done. The cost basis in the taxable account is the share price reported with the distribution and the holding period begins on the date of transfer.
Clearing firms have various methods of determining the distribution value per share, eg. it might be the median daily price or the closing price or price at the moment of the transfer.