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Posted On: 08/05/2021 6:44:47 AM
Post# of 148881
A while back I asked about using a ROTH to invest in CYDY and after some good input here and consulting with my CPA pal this is what i am doing.
Opened up a ROTH with cash from my brokerage account after determining my maximum allowable investment ( based on income).
Buying shares at the opening this morning and selling the same amount out of my Taxable account.
I can use the tax loss from the sale and not be penalized by re investing into the ROTH within the 30 day wash sale period.
I can still access any pricinciple invested but have to wait 5 years to claim profits at ZERO tax. Im already over 59 1/2 so i dont need to wait for that.
We will see how it goes.
Opened up a ROTH with cash from my brokerage account after determining my maximum allowable investment ( based on income).
Buying shares at the opening this morning and selling the same amount out of my Taxable account.
I can use the tax loss from the sale and not be penalized by re investing into the ROTH within the 30 day wash sale period.
I can still access any pricinciple invested but have to wait 5 years to claim profits at ZERO tax. Im already over 59 1/2 so i dont need to wait for that.
We will see how it goes.
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