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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

465.0. "IRAs and Trusts" by NODEX::BRASS () Tue Apr 27 1993 20:22

Hi,
	When you open an IRA or an education trust can you put stocks and bonds 
in them or do you have to liquidate what you have and put only cash is them?
		Bob
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465.1If the trust document allows it...TLE::JBISHOPTue Apr 27 1993 20:483
    Trusts can have anything put in them, IRAs I don't know about.
    
    	-John Bishop
465.2Well, it simplifies bookkeepingVMSDEV::HALLYBFish have no concept of fireWed Apr 28 1993 12:181
    IRAs must be opened with cash.
465.3VMSDEV::HAMMONDCharlie Hammond -- ZKO3-04/S23 -- dtn 381-2684Wed Apr 28 1993 17:3611
>    IRAs must be opened with cash.

        ...or by transferring assets from another IRA.

    The types of assets that can be held in an IRA are limited.  
    e.g. I understand that Real Estate and "Collectibles" are not allowed.
    I don't know the detailed rules.

    I'm not aware of any general rules limiting the types of assets that
    a trust can hold.  I suppose that a specific trust could be established
    with limits on what types of assets it can hold.
465.4IRA Brokerage AccountALLVAX::CALEYFri Apr 30 1993 18:3615
>
>    IRAs must be opened with cash.
>
>       ...or by transferring assets from another IRA.
>
>    The types of assets that can be held in an IRA are limited.  
>    e.g. I understand that Real Estate and "Collectibles" are not allowed.
>    I don't know the detailed rules.


  I had an IRA account with a local bank, and then I rolled it over into
  an "IRA Brokerage Account" with Fidelity.  Through this account I am 
  able to buy stocks, bonds, mutual funds, etc...