2021 Stock Market
- Thread starter SoapyCy
- Start date
I have $150 in it. After a coworker of mine made $250K off of Doge I figured I could try to get in on the next one
Followed some video tutorial but downloaded Trust Wallet, bought Binance, converted it to SafeMoon. 'twas a pain, but a small price to pay when I'm enjoying my private island some day
I bought 200 share of CCIV last week and bought 150 shares of Arrival Group this morning for EV's.
Still waiting on my KERN swing. have 317 shares. reached my buy in today after digging to hell last week.
So I have a Roth IRA with like 13k in it. Does anyone know the taxes if you just buy 2000k of a stock. wait for it to gain 15% then sell. taking that profit and doing it again (hopefully). NEVER taking any money out of the account just putting it into different stocks.
what are the tax implications?
what are the tax implications?
As far as I know there shouldn’t be any. The Roth is the best place to do this as long as you don’t take the money out of the Roth. I mean hypothetically you could take your direct contribution out if needed but you’ll need to know what that was. Doesn’t look like that’s your goal though so that’s irrelevant.
My understanding is that neither a Traditional IRA nor a Roth IRA would have any tax implications from trading within the account. The tax implications come into play once one is withdrawing from the account and/or contributing to the account.
Traditional IRA - Contributions are tax deductible for year of contribution, taxes are paid on withdrawals taken from the account in the future
Roth IRA - Contributions are 'after tax' (i.e. non-deductible for contribution year), therefore any future withdrawals are free from tax in the future.
Obligatory not a CPA/CFA
Traditional IRA - Contributions are tax deductible for year of contribution, taxes are paid on withdrawals taken from the account in the future
Roth IRA - Contributions are 'after tax' (i.e. non-deductible for contribution year), therefore any future withdrawals are free from tax in the future.
Obligatory not a CPA/CFA
Feeling I should pay hommage to my avatar's headband... just picked up a small stake in $MNMD 
IRA tax implications occur when taking withdrawals. (Not advice, not an accountant, just my understanding)
Realized I replied to wrong person
This.
Nothing seems undervalued right now. Wanted to add an insurance stock or two this week but they are essentially at their 2021 price target and its about May 1st....
I like principal fin group as a long term hold but haven't pulled trigger yet.
You can day trade inside your roth if you want. There are no taxes until you take the $$ out if you are not of retirement age. That is the value of roth's.
Agreed. Scooped up some last Fall when I saw they were yielding >5.5%... I should've backed up the truck
