selling & buying stocks in an inherited IRA
I have an inherited traditional IRA with 6 different stocks. Can I sell shares of 3 of the stocks in the IRA and use the proceeds to buy shares of the other IRA stocks? If so, what are the tax implications.
Thank You,
Tom Snyder
Permalink Submitted by Alan - IRA critic on Wed, 2024-02-07 15:48
There are no tax implications for trades in an IRA, just when funds are distributed out of the IRA. You can trade as much as you want, and none of the trades are reportable. But if you receive a distribution from an inherited IRA, you cannot put the money back. All distributions will be taxable and you will receive a 1099R.