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IRA Buy/Sell that should be Journal
Posted by Henry Gage on 26 February 2011 04:32 AM
IRA Buy/Sell that should be Journal

Question:
Hi, I just ran into a function I don't know how to reconcile. I transferred stock, instead of cash from one Roth IRA to another. There are only Buy/Sell entries, not transfers possible with TZ. How do you suggest I handle the transfer? I entered Sell data, but that messed up the 1099 balance.

Answer:
This might trigger an issues with the IRS if the brokerage reported the sale to the IRS. You may want to require that the brokerage make sure your 1099 will not show the transaction as a sales. You can enter the trades into TA with a correct original opening transaction (Buy) date and when they are actually sold then use that data for the closing trades. This means your account in TA will show Buy trades. If you really want to get fancy you could journal out the Buys on the date of the transfer and then journal them back into a different account but that creates other confusions because to close the trades you only need the opening and closing trades in the same account. The first suggestion is simpler.

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