Absolutely, stocks, etc. in IRA’s are the best w
Post# of 82672
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Posted On: 01/04/2018 4:12:20 PM
Absolutely, stocks, etc. in IRA’s are the best way to go to avoid taxes if you can do this. if you buy SFOR shares in an IRA, especially a Roth IRA, the profits from your investment are tax-free. With a Roth, you pay no income taxes on withdrawals nor any capital gains taxes.
Etrade lets you put penny stocks like SFOR in IRA’s, but I don’t know about other brokers.
Under age 50 you are permitted to make a maximum annual direct contribution to a Roth IRA of $5,500. If you are over 50, the annual contribution limit is $6,500.
However, the amount of money you can contribute annually must be based on annual earned income from a job/work. For a $5.5k contribution, you must make at least $5.5k that year from work. So obviously, you want to make these contributions while you are young and still working.
However, here’s the catch:
I am retired, and all my income comes from social security and investments. So, since I have no work income, I am prevented from making any annual contributions (of $6.5k) to my Roth IRA.
Etrade lets you put penny stocks like SFOR in IRA’s, but I don’t know about other brokers.
Under age 50 you are permitted to make a maximum annual direct contribution to a Roth IRA of $5,500. If you are over 50, the annual contribution limit is $6,500.
However, the amount of money you can contribute annually must be based on annual earned income from a job/work. For a $5.5k contribution, you must make at least $5.5k that year from work. So obviously, you want to make these contributions while you are young and still working.
However, here’s the catch:
I am retired, and all my income comes from social security and investments. So, since I have no work income, I am prevented from making any annual contributions (of $6.5k) to my Roth IRA.
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