Question: Can you buy and sell securitities in a
Post# of 96879
Posted On: 06/05/2015 11:29:56 PM
Question: Can you buy and sell securitities in a Roth IRA account and NOT PAY TAXES?
Answer: If you buy a security in a Roth IRA and sell with a gain you pay no tax. Period. If you buy today and sell on Monday for a gain, no tax. If you hold it for over a year and sell at a gain, no tax. In other words, inside a Roth IRA there are no short term or long term capital gains. Only gains or losses. But, if you suffer a loss, just kiss the money gooodby. You can't deduct it. It's very simple: YOU LOOOSSSSSE. And best of all, when you withdraw from a ROTH, you pay no tax.
HOWEVER, one caveat, you can incur a penalty if you withdraw to early from a Roth IRA, so do your own DD or ask your tax advisor.
In case you are wondering: I have been doing taxes for 48 years, so I do have some familiarity and knowledge about the issue. Just sayin'
Answer: If you buy a security in a Roth IRA and sell with a gain you pay no tax. Period. If you buy today and sell on Monday for a gain, no tax. If you hold it for over a year and sell at a gain, no tax. In other words, inside a Roth IRA there are no short term or long term capital gains. Only gains or losses. But, if you suffer a loss, just kiss the money gooodby. You can't deduct it. It's very simple: YOU LOOOSSSSSE. And best of all, when you withdraw from a ROTH, you pay no tax.
HOWEVER, one caveat, you can incur a penalty if you withdraw to early from a Roth IRA, so do your own DD or ask your tax advisor.
In case you are wondering: I have been doing taxes for 48 years, so I do have some familiarity and knowledge about the issue. Just sayin'
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