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Alex,
He will not be able to put these funds into his 401(k) or, as you say
"buy into the 401(k)." This is not allowed! The only money he can put into
a 401(k) is funds from another 401(k) and/or deductions from a paycheck from
the sponsoring company. You just can't "buy into a 401(k)." Illegal and the
company offering the 401(k) would not permit it!
JO
----- Original Message -----
From: "Jacobson, Alex" <AJacobson@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, June 25, 2005 2:42 AM
Subject: RE: [RT] 401K QUESTION: TRYING TO HELP A FRIEND
> There is actually a easier solution. Distributions from the 401(K) are
all ordinary so if he has a gain in the WMT he wouldn't want to contribute
even if the trustee allowed contributions in kind. If it is long term he
should simply sell out of the taxable and buy into the 401(K). He'll pay
two transaction costs, but they are so low today. Many 401(K)s allow stock
ownership ... some only allow mutual funds, but if his allows direct stock
ownership he can simulate a move by selling from one and buying into the
other.
>
>
> -----Original Message-----
> From: realtraders@xxxxxxxxxxxxxxx on behalf of Charles Meyer
> Sent: Fri 6/24/2005 7:08 PM
> To: REAL TRADERS
> Subject: [RT] 401K QUESTION: TRYING TO HELP A FRIEND
>
> Group-
>
> I think someone on the list probably knows the answer to this question. I
have a local friend who works for the USPS.
> He also owns some Wal-Mart stock in a taxable personal account. Can he
transfer that stock and place it in his 401K?
> Thanks for your feedback.
>
> Chas
>
>
>
>
> Yahoo! Groups Links
>
>
>
>
>
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