Manual entry for trustee to trustee transfer of traditional IRA

universeuniverse Member ✭✭
edited May 2018 in

Company receiving rollover direct connection/download entered as a buy but troubled direct connection for other company did not bring the entry. I manually entered the sending company IRA funds as a sell and transfer of cash to the receiving company then edited the downloaded entry to a cash in transaction and then a buy. At one point Q brought up a block asking me to select a contribution for 2013 or 2014. I think of "contribution" as something I can't make to an IRA since I am well past retirement age. Would appreciate word about whether I am in error with my entries, whether I will get some warning about not being allowed to contribute to an IRA. Would be glad to start all over if considered wise. I am contacting the sending company (TIAA) to learn why the new direct connection is not working for transactions although unit prices are ok.


  • q_lurkerq_lurker SuperUser ✭✭✭✭✭
    edited May 2018

    My preference is to transfer the funds from old IRA to new IRA, and then do the sells and buys in the new account. As discussed in the linked citation, that applies to any cash as well. You can use the Shares Transferred between Accounts macro-transaction (Enter Transactions button) to do the transfer. This avoids the contribution question.

    That should leave you with $0 value in the old account (no need for any further downloading from them, since that is what they will show also. Only after executing this transfer and probably the sells in the new IRA account would I initiate a download from that financial institution.
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