Welcome to StockForums.info!   

Advertisments:


Stock trading frequency - Taxes?

Trading Systems and Market Timing Models

Stock trading frequency - Taxes?

Postby uisdean » Fri Nov 16, 2012 1:10 am

I have a $2000 on my IRA as cash, and want to either buy mutual funds or stocks. I looked up different mutual funds, but the best of them make a 5 to 7% appreciation a year if that and outrageous fees! So I decided to learn how to trade stocks by using a virtual account with virtual money, but real trading market... and I made a good 25% in one month!(Did I get lucky or that's the percentage a good investor makes)?? I would like to start trading my $2000 on my IRA, but I am afraid to get hit with taxes if I do not hold a stock for more than 30 days....Can you please provide any insights as of the taxes would be, and if you think I'm better off trading stocks on my own rather than buying mutual funds... Thanks in advance!
uisdean
 
Posts: 45
Joined: Wed Oct 03, 2012 1:55 pm

Stock trading frequency - Taxes?

Postby twein » Fri Nov 16, 2012 1:16 am

As to gaining 25% - Do not confuse beginner's luck in a bull market with investing expertise. Be happy with the result, but recognize that it was more luck than skill.

IRA trading is not taxed. Someone already answered that for you correctly.

The only 30 day tax rule in the US is for "wash sales". That can never apply to your IRA because you cannot deduct losses on IRA trades.
twein
 
Posts: 42
Joined: Wed Oct 03, 2012 1:10 am

Stock trading frequency - Taxes?

Postby montel » Fri Nov 16, 2012 1:18 am

You probably got lucky..there is no taxes in a self-directed IRA..as long as it stays in the Account..
montel
 
Posts: 34
Joined: Tue Oct 30, 2012 4:06 am


Return to Trading Systems

 


  • Related topics
    Replies
    Views
    Last post
cron