I have stock in a an utility company that has recently been acquired by another company. They have ended the dividend reinvestment program and are cashing out all stock holders. My question is can I roll over into a Roth IRA or IRA? I also have a TSP account but was told that I could not because it is not "qualified" money. I don't want this cash out to be included as income if at all possible. Also, will I get hit with the 10% early withdrawal penalty even if I'm not withdrawing the monies?
Thanks!
Tue May 17, 2016 6:50 pm
oldguy Senior Member
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quote: My question is can I roll over into a Roth IRA or IRA? I also have a TSP account but was told that I could not because it is not "qualified" money.
It sounds like you have already paid the income taxes on your stock, otherwise it would already be in one of your 'protected' accounts - ie, IRA, 401k, TSP. But the Roth is not qualified, you can contribute $5000/year to a Roth (but no rollover).
