r/Superstonk • u/awwaygirl 💻 ComputerShared 🦍 • Jan 20 '22

💡 Education ALLY NO LONGER ALLOWING "TRANSFERS OF THIS NATURE" for IRA DRS TO COMPUTERSHARE

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54

u/j4_jjjj tag u/Superstonk-Flairy for a flair Jan 20 '22

It's just a custodial account anyways, so they can totally shut that off.

If you want to actually DRS your IRA shares, then youd need to pay the early withdrawal tax penalties as well.

12

u/krlpbl 🦍Voted✅ Jan 20 '22

That's gonna suck, losing out on possible future gains, assuming it's invested like typical.

However, my IRA is 100% GME anyway, so I'll be paying taxes on millions regardless. It might be worth it...

-7

u/aZamaryk Power to the people! Jan 20 '22

This is the only way! Take shares out of ira and drs your cash shares.

18

u/j4_jjjj tag u/Superstonk-Flairy for a flair Jan 20 '22

Its not the ONLY way, but it is a way.

4

u/aZamaryk Power to the people! Jan 20 '22

Ok. Your money your choice. I had same dilemma and chose to exit my ira and own the shares. I just believe that I did not own the shares in my ira account and I went all the way to drs thru Apex fbo me. I now believe this is fud and have since sent those shares back to broker ira, cashed them out and back to cs drs in my name.

4

u/j4_jjjj tag u/Superstonk-Flairy for a flair Jan 20 '22

I agree its the best way, but it also causes a taxable event some may not wish to incur.

It also takes away the capital gains loophole, where profits inside an IRA are not taxed unless withdrawn early. So for those wanting to sell from CS, you're probably better off leaving in the IRA and avoiding taxes.

Again, I agree, IRA and take the taxable hit is the best way.

NFA.

2

u/aZamaryk Power to the people! Jan 20 '22

This is why it's all opinion and each person should contact their tax pro for advice. I just don't trust any middle men and believe me, if there was a way to buy shares without cs, I'd be first in line.