In microsoft.public.money, Tom G wrote:

- quote -

Here is a non-Money comment: when they sent your classic IRA money,
they probably withheld money for federal income taxes. If that is
the case, then rolling only the amount of funds they sent to your
account into the new account will result in a taxable distribution
of the withheld amount. If you are under 59.5, it will probably also
result in a penalty on top of the tax.

To avoid that situation, you would need to bring the amount up to
the new account in time by writing another check in the amount of
the withholding covered by other funds.

The withheld amount is credited to your income tax.

You may have had this handled already, but I thought I would bring
it up in case.

Tom,

Your rollover is not a "transfer out". Transfer Out would only apply
if you were changing brokers without liquidating.

In the original IRA account, you would have two transactions: first,
sell the investment and second, transfer (not "transfer out") to
checking account.

In the new IRA account you would first transfer (not "transfer in")
from checking and second buy the new investment.

The above assumes you've set the option in Money to include a "cash"
account within each investment account. The cash account for each of
the two investment accounts will permit the transfers to and from your
checking account.

Regards,
JB

Tom G wrote:
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Sounds to me like a Sell with the proceeds going to your checking account.
Transfer Out is used when you transfer an investment, say from one brokerage
firm to anther. If you'd done a direct rollover of your investments to a
different firm, rather than the 60-day variety where you actually liquidated
the original positions, it would be appropriate.

"Tom G" <123mpel[at]vms.huji.ac.il> wrote in message
news:%23dvEpDxzEHA.3336[at]TK2MSFTNGP11.phx.gbl...
- quote -

I don't exactly know how to do perform this action, but here is my problem.

I have an IRA which I liquidated, and had the money sent to my checking
account. I then wrote a check to another brokerage and reinvested the money.

This is a rollover, where one has 60 days to reinvest in another IRA.

So, I need to liquidate everything and transfer to a bank account, and then
transfer it again to an investment brokerage. I have no idea how to do the
first stage (if this is a "transfer out," or what).

--
Cheers,
Tom G.