I have a small Individual TOD account that I'd like to sell off for cash - asking for advice about how to do that.
Novice here. I have an individual TOD account through Fidelity which I opened about 1.5 years ago. This was a phase in my life where I had time/money to research and invest in interesting company stocks that I thought would be good investments. I started out with about $900 and it's grown to about $1650, with positions in 20 companies across several sectors.
I no longer have the time to dedicate to keeping up with trading and shifting my positions around based on data and research. I'd like to just "cash out" this account by selling all my shares and moving the money to a Roth IRA or taxable account where I can just buy some index funds and sit on them.
If I sell and make realized gains of \~$700 (mix of short- and long-term gains and I am in the 22% bracket, so let's say 20% cap gains tax rate overall), will I pay around $140 in taxes? Is this inevitable or since I have a relatively small portfolio are there any exceptions or contingencies I could take to keep more of the money? Or, better yet, is there an easier way to convert my holdings on Fidelity straight to buying an index fund in my Roth IRA (say, FZROX)?
Thank you!