Tax questions on trading options in my IRA?
Tax questions on trading options in my IRA?
If I trade options in my account and I make a substantial amount in one day and sell what are the tax implications. Do I just get tax as if I were trading stocks?
Answers:
Chosen Answer
Judy: Anything done within an IRA is tax deferred until you take the money out, then the withdrawal is taxed as ordinary income for a traditional IRA, not taxed for a Roth
2008-01-17 08:47:28
Judy: Anything done within an IRA is tax deferred until you take the money out, then the withdrawal is taxed as ordinary income for a traditional IRA, not taxed for a Roth
2008-01-17 08:47:28
taxreff: Judy is correct. In a qualified retirement account (which includes IRAs) gains and losses are not recognized.
2008-01-17 08:52:34
2008-01-17 08:52:34