{ "media_type": "text", "post_content": "Help me !\nSo I have around 5k invested in VTI and VOO. I am even right now due to DCA. My question is Should I take that money out and put it in Roth IRA for 2019 and get tax benefit ?", "post_id": "5e9c91bbb8f4c4002880c67d", "reply_count": 8, "vote_count": 2, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Help me ! So I have around 5k invested in VTI and VOO. I am even right now due to DCA. My question is Should I take that money out and put it in Roth IRA for 2019 and get tax benefit ?

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Just so you know there is really no need to invest in VOO and VTI. 80% of VTI is simply VOO, the remaining 20% is the other 3000+ stocks that aren’t the largest 500 companies in America

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Thanks 🙏🏼

Also can you elaborate more by what tax benefits you’re talking about of taking money out of your brokerage and putting it in your Roth?

No tax deduction for Roth IRA. The tax benefit is tax free growth as it’s money you’ve already paid taxes on.

If you have a mix of up lots and down lots you may want to just sell your losers and those close to break even to generate tax losses. You don't get a tax deduction for contributing to Roth IRA but you'll get those losses on your 2020 return and what you contribute to your IRA will grow tax free.

Look into tax loss harvesting. The answer is yes it’s on top of the standard deduction but it needs to be executed right.

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