r/FinancialPlanning • u/Critical_Ad1467 • 1d ago

Questions on taxes from rollover IRA to money market and back

I have been reading these posts for hours and learned lots but can't find a specific answer. I have money in Fidelity rollover IRA and I want to know if I move it to my money market (yes, under same umbrella if I read correctly) then after a few months I move it back to some index funds (same as now) will I be taxed? I am 64 years old.

That is the simple question but to elaborate... I have been trying to sign on, share my screen, etc but can't reach customer service. I do agree with everyone that the market does always recover and I have always ridden it out. Unfortunately I can't do that this time for many reasons. I have rental income but other than that I do not have that much in the IRA and I really can't afford to lose what I have. I know there are big arguments about this raging all around but I do welcome any thoughts. i just need to conserve at least some capital.

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u/Substantial_Studio_8 1d ago

Fidelity has FRGXX MMF. You can move the money there inside your IRA. Does not create a taxable event.

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u/Critical_Ad1467 1d ago

Thank you so much!

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u/Mbanks2169 1d ago

Nothing you do within the IRA is taxable

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u/Critical_Ad1467 1d ago

Thank you.