2007-12-01 16:53:21 · 5 answers · asked by jennif102 1 in Business & Finance ➔ Taxes ➔ United States
If you are selling stock within the IRA to purchase different stock to stay within the IRA, then no tax will be due.
If you sell stock for cash that is considered a withdrawal, then it will be taxed as ordinary income.
2007-12-02 01:08:32 · answer #1 · answered by Steve 6 · 1⤊ 0⤋
A traditional IRA allows you to contribute and invest money which will be taxed later on when you withdraw it; at a (presumably) lower rate when you retire.
Use this rule of thumb:
The government ALWAYS gets paid. The rate and the time may change, but they ALWAYS get paid.
If you've got an IRA, you should ALSO have an accountant - go and consult THEM.
2007-12-01 17:05:07 · answer #2 · answered by thedavecorp 6 · 0⤊ 1⤋
No. When you withdraw money from the IRA, you'll pay tax then, as ordinary income.
2007-12-01 18:00:42 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
Not as long as the money stays in the IRA.
2007-12-01 16:56:57 · answer #4 · answered by Anonymous · 3⤊ 0⤋
No, you only pay taxes when you withdraw the money.
2007-12-01 17:01:07 · answer #5 · answered by race_car_bed 2 · 0⤊ 0⤋