Tax consequences of liquidating an ira

I would personally advise against most target date or fixed date funds.

tax consequences of liquidating an ira-69

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I have a brokerage account with Fidelity consisting of a mix of low-cost index ETFs and some actively managed mutual funds.

I would like to transfer all assets to passive management strategy, perhaps a target retirement age fund...ideally with Vanguard.

If you are just moving your account to another custodian like Schwab, E-Trade, TD Ameritrade, etc...

Still, any financial strategy you undertake should be done with an eye toward the other end.

Before contributing or converting to a Roth IRA, you’ll want to know how and when you can access the assets and what the tax consequences might be.To ensure compliance with requirements imposed by the IRS, we inform you that any U. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.Taxpayers should seek professional advice based on their particular circumstances.If you’re under age 59½ when the withdrawal occurs, there are certain exceptions that avoid the 10 percent penalty, but the withdrawal is always subject to income tax.Ideally, if you need to make a withdrawal from an IRA, the objective is to withdraw as little as possible to minimize your tax consequences.Some people are so in love with their Roth IRAs that they plan never to take the money out.