Stocks

[Joe4007]

Can anyone tell me how to open a Roth IRA in which I can actively trade stocks?

I want to sell off my e-trade portfolio (which is under my personal SSN) and instead trade with a Roth IRA. Which company allows that?

Most brokerages offer Roth IRA's. I have one with TD Ameritrade.

[aygart]

Can anyone tell me how to open a Roth IRA in which I can actively trade stocks?

I want to sell off my e-trade portfolio (which is under my personal SSN) and instead trade with a Roth IRA. Which company allows that?

Fidelity

[ckmk47]

Can anyone tell me how to open a Roth IRA in which I can actively trade stocks?

I want to sell off my e-trade portfolio (which is under my personal SSN) and instead trade with a Roth IRA. Which company allows that?

If the stuff you're selling is the same securities that you'll be buying in the Roth, see if you can transfer them instead of selling and buying.

[yos9694]

If the stuff you're selling is the same securities that you'll be buying in the Roth, see if you can transfer them instead of selling and buying.

This may be a good idea. The Roth has to be funded with after tax dollars, but it doesn't have to be cash, a lot of brokers will let you deposit securities (e.g. stocks) at their market value

[Essen est zich]

up 53% yesterday.

Climbing again

[whacked1]

Climbing again

Glad i didnt sell ...

[YitzyS]

I think you could have a Roth IRA account there as well

Can you tell me how to do it? Do I open a Roth IRA and then link it to my e-trade profile? Or do I have to open a special e-trade account?

ETA: I'm not a huge fan of e-trade, and would be more than happy to try another platform if anyone recommends.

[ckmk47]

ETA: I'm not a huge fan of e-trade, and would be more than happy to try another platform if anyone recommends.

Several other options were recommended above.

Fidelity

Most brokerages offer Roth IRA's. I have one with TD Ameritrade.

Vanguard

[Joe4007]

This may be a good idea. The Roth has to be funded with after tax dollars, but it doesn't have to be cash, a lot of brokers will let you deposit securities (e.g. stocks) at their market value

What's the benefit then? If it's at market value presumably you realize a gain/loss on your original account. Might as well sell and buy and not go through the security transfer process.

[sguitarist18]

What's the benefit then? If it's at market value presumably you realize a gain/loss on your original account. Might as well sell and buy and not go through the security transfer process.

Is this the case? Or does it work the same way it works with a donor-advised fund, where the full amount gets counted and transferred, without having to pay capital gains taxes?

[yos9694]

Depositing to a Roth is not a donation and not tax deductible, so there will be a realized gain/loss. Definitely not like a DAF.

There may not be much of an advantage, but you'd save on commissions/fees (and commissions are very low or zero these days), extra steps of selling/buying, and you wouldn't need to wait for settlement (t+2) to transfer and buy.

[ExGingi]

If the stuff you're selling is the same securities that you'll be buying in the Roth, see if you can transfer them instead of selling and buying.

AFAIK one cannot make "in-kind" (ROTH) IRA contributions. Only cash (i.e. USD cash balances) can be contributed into an IRA.

If you're already familiar and comfortable with the e-Trade platform, why change? DW and I have ROTH IRAs with E*Trade, Schwab, Fidelity, TD Ameritrade (which was acquired by Schwab, but platforms were not merged/integrated) and IBKR (opened that one after IBKR started offering Crypto trading, not realizing that they don't offer it in IRAs). Each has things I like and things I dislike.

[sguitarist18]

Depositing to a Roth is not a donation and not tax deductible, so there will be a realized gain/loss. Definitely not like a DAF.

Aware of this, it's obviously not a donation - the question is, if you're able to transfer securities directly (which you may not be able to, see Exginig above), since you're not selling them, it might work similar to a DAF in only this way, that there's no sale to trigger the capital gains tax.

[YitzyS]

Thanks, guys! I googled 'etrade roth ira' and a link came up to open an account. I filled in the information and now the ROTH IRA appears right below my personal trading account. I can now easily just sell my regular stuff and buy in the IRA.

[yos9694]

Aware of this, it's obviously not a donation - the question is, if you're able to transfer securities directly (which you may not be able to, see Exginig above), since you're not selling them, it might work similar to a DAF in only this way, that there's no sale to trigger the capital gains tax.

Not a chance, Lance

[sguitarist18]

Not sure why you're so certain of that, as the point is irrelevant - from everything I can see, you cannot transfer securities, so no way to tell how it would be considered if it would work.

[YitzyS]

I tried to transfer securities between the accounts but my brokerage account is listed as "no transferable securities in the account," so I'll just sell them and rebuy. It's only a few stuff anyways.

[EliJelly]

I tried to transfer securities between the accounts but my brokerage account is listed as "no transferable securities in the account," so I'll just sell them and rebuy. It's only a few stuff anyways.

End of year tip. Just by funding the $6k to your Roth IRA you'll get additional $200 on year earned income credit, $400 when you and your spouse are funding.

[ExGingi]

End of year tip. Just by funding the $6k to your Roth IRA you'll get additional $200 on year earned income credit, $400 when you and your spouse are funding.

You mean Savers credit?
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit

[yosefsv]

End of year tip. Just by funding the $6k to your Roth IRA you'll get additional $200 on year earned income credit, $400 when you and your spouse are funding.

If you fund a traditional IRA and you have unearned income you could gain much more then $200 on a $6000 contribution.