Mr Cooper Group Inc (COOP)

[wamutrader]

Good news for all then. I may have been misinformed. Thanks for the heads up...I hope this info helps many.

Maybe this info will help some...

In-Kind Transfers

An in-kind transfer simply means moving existing investments such as stocks or bonds from one account to another, rather than transferring cash. You can’t contribute to your Roth IRA by making an in-kind transfer of assets because the IRS only allows cash for IRA contributions. You can transfer in-kind assets from other retirement accounts, such as another Roth account, a traditional IRA or a 401(k) plan.

Transfer Types

The IRS allows you to move money into a Roth IRA from other accounts in three ways. With a trustee-to-trustee transfer, you instruct the trustee of a retirement account to send funds to the trustee of your Roth IRA. You tell the trustee how much to transfer and you can instruct him to move securities and other investments in-kind. A same-trustee transfer works the same way except both accounts are with the same financial institution. In a rollover, you withdraw cash from the original account. You have 60 days to deposit the money in your Roth IRA. Rollovers are cash only, so you cannot transfer assets in-kind by this method.


As Always, I recommend speaking to a tax professional or etrade before making any decisions affecting you in this way.