j.lef
Guest
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 Posted:
Thu Sep 22, 2005 10:00 pm Post subject:
Savings Bonds |
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I havent funded my 2005 roth ira yet. I have about 1500
dollars(accumulated value), in e type bonds that I have from about
1980-1990. They are drawing 4 per cent interest.
Two questions
1) Is it possible to use these to fund a roth ira, either by themselves or
preferably transfer them to my mutual fund ira account, without paying taxes
on them
2) Or if i have to pay taxes on them, should I hold onto them. The first
ones dont fully mature until 2009
Much regards
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Ed
Guest
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| Posted:
Fri Sep 23, 2005 12:01 am Post subject:
Re: Savings Bonds |
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"j.lef" <j.lef@verizon.net> wrote in message
news:8rBYe.13079$iv5.1175@trndny03...
| Quote: | I havent funded my 2005 roth ira yet. I have about 1500
dollars(accumulated value), in e type bonds that I have from about
1980-1990. They are drawing 4 per cent interest.
Two questions
1) Is it possible to use these to fund a roth ira, either by themselves
or preferably transfer them to my mutual fund ira account, without paying
taxes on them
2) Or if i have to pay taxes on them, should I hold onto them. The first
ones dont fully mature until 2009
Much regards
|
I would just keep them. $1,500 won't make much of a difference either way.
I think you can have your bonds in an IRA but you need a custodian like a
bank or broker.
I don't think you can transfer the bonds you own into an IRA, pretty sure
you'd have to cash out and pay taxes. |
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