Roll investments from a non-retirement account into an IRA

[scottm]

In an effort to lower my tax liability I would like to contribute to a traditional IRA. My question is this: can you roll existing assets from a non-traditional account into a retirement account within the same brokerage (i.e. Fidelity). In other words, can I simply move assets from a non-retirement account into an IRA investment account and still receive the tax benefits? Or will I be required to make a distribution from the non-retirement account and then reinvest those dollars into an IRA? I'm trying to avoid any additional tax liability (if any) in taking a distribution from the non-retirement account.

Additionally, this scenario would allow me to leverage existing investments that are already invested in funds vs. contributions with new/additional money.

[Petunia 100]

In an effort to lower my tax liability I would like to contribute to a traditional IRA. My question is this: can you roll existing assets from a non-traditional account into a retirement account within the same brokerage (i.e. Fidelity). In other words, can I simply move assets from a non-retirement account into an IRA investment account and still receive the tax benefits? Or will I be required to make a distribution from the non-retirement account and then reinvest those dollars into an IRA? I'm trying to avoid any additional tax liability (if any) in taking a distribution from the non-retirement account.

Additionally, this scenario would allow me to leverage existing investments that are already invested in funds vs. contributions with new/additional money.

There is no direct rollover allowed from a non-retirement account to a tax-advantaged account. You must follow the annual contribution limits.

Also, you cannot contribute securities. If the money you want to contribute is currently invested, you will have to sell the investment first.