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Within an IRA context, ROTH, TRAD., or Contributory; Do I have

 
SeekingtoRenderAid's Avatar
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Within an IRA context, ROTH, TRAD., or Contributory; Do I have any tax implications when I sell one Mutual fund at a profit and by another mutual fund? I have recently sold shares of more high risk funds and bought less risky funds. I am reinvesting both dividends and profits back into my IRA. I am still several years from retirement and will not be withdrawing any money until that time. Do these sales and buys need to be reported to the IRS?

 

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State/Country relating to question: Kentucky

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Submitted: 510 days and 15 hours ago.
Category: Business Law
Value: $25
Status: CLOSED

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Expert:  SeekingtoRenderAid replied 510 days and 15 hours ago.

Good morning. As long as these sales are all occurring within your retirement account, whatever kind of IRA it is, you have no need to report any of the sales. These are accounted for within the IRAs by the custodian of your IRAs and are not reported by you, or taxed to you, individually.

 

 

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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have intricacies in their laws and any information given is simply information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

 

Expert TypeAttorney
Category: Business Law
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Answered: 12/4/2011

Experience: Practiced law for 32 years; also business man

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