Hi and thank you for your interest in my post.
As the title mentions, I recently opened a Roth IRA using Vanguard. I have been investing in VTSAX for several years with Vanguard, with a single brokerage account, which I am now learning is a (correct me if I'm wrong) taxable brokerage account.
With the newly opened Roth IRA I had the option of contributing to it using the funds from my original brokerage account, but I did a little research before submitting, it seems like that would be a mistake. If I'm understanding this correctly, this would mean Vanguard will sell my funds to supplement the transaction to my Roth IRA. Is this what is called a wash sale? Would it be more optimal to supplement the Roth Ira with my current yearly earnings?
TL;DR: Have Vanguard brokerage account w/ VTSAX, just opened Roth IRA. Should I fund the IRA with current investments or available earnings? Is this the definition of a wash sale?
Thank you for any insight you may be able to provide me!
Submitted December 28, 2023 at 01:50AM by halusyn https://ift.tt/wh0bkU2
