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Post# of 249238
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toro1

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toro1

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Re: knute97 post# 196947

Tuesday, 08/10/2010 7:59:28 PM

Tuesday, August 10, 2010 7:59:28 PM

Post# of 249238
Knute I'd be very careful with this...

It looks like the loophole of all loopholes - you move over Wave from IRA to Roth IRA, Wave goes up and you move back the original amount of dollars erasing the tax due. So in theory you never paid income tax on the money left in the Roth IRA.

I went through this exact scenario with my tax pro and it turns out that you must send back the original asset PLUS any appreciation to erase the taxes due.

There is no free lunch.

Best,
toro

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