[Holland]

This year I don’t think I’m going to be able to fund my Roth the full 8K (I’m over 50) so I was thinking about moving some funds from my brokerage to my roth.

Right now my brokerage is about 2.5 times the size of my Roth.

Those of you more adept at investing/finances than me, please share your thoughts.

Thank you

[Jasmine]

As a general statement, I would prioritize maxing out the IRA over adding to the brokerage.

If selling a little in the brokerage can be done without much of a tax hit, then yeah, I probably would do that if it’s the only way to max out the IRA.

Note that you should look into ‘wash sale’ rules before selling/buying so that you don’t get into trouble.

There are tax rules about buying/selling similar things within 30 days of each other.

[Micah]

Sounds reasonable to me… get that tax shelter why you can.

[Megan]

You can’t directly move funds from a taxable brokerage to an IRA. You’d just selling the funds in your taxable brokerage and using the money to contribute to your Roth IRA and then you’d purchase funds again

[Christopher]

You’ll never have another chance to fund it for 2024 after April of next year, so if you want to use the tax shelter space, and can afford the tax hit of selling in your taxable account, then it’s a good plan.

[张扬]

If you don’t need the money in your brokerage and there isn’t a big tax hit from selling what you need to make this happen, then I can’t think of any reason not to proceed.

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