If you own a stock in a IRA, is there a rule that it should be held for a year before selling?

Question

Or has there in the past been a rule that IRA investments should be held for a year before being able to sell or change to another stock(or investment)?
Please help!

Answer 1

Nothing in law. I know some mutual funds say they have to be held for at least X amount of time or they are subject to penalty.

But you can trade actively within an IRA if you choose to do so.

Answer 2

There should not be any rule regarding keeping it for a year.

You will pay a fee for the brokerage firm to sell the stock for you, but that is it. There are no tax consequences in selling a stock in an IRA. There are tax consequences to your withdrawals from the IRA account. Selling the stock means the funds are still in your IRA, converted to cash until you make another market purchase, whatever the trade is.

if you purchased a mutual fund, there would be a small fee for selling it (sometimes) within two months from the time you bought it.

Answer 3

Check the agreement you signed when you set the IRA up. I believe that different investment companies also have different contract forms. In fact, you should probably call your broker or someone in that department to ask those questions and ask about accessing your account on the web, and what you need to do if you want to change some stocks. There might be a penalty, however. I'm not sure that all companies allow you to make changes without there being tax consequences