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Roth IRA and capital gains taxes
Posted on 10/7/20 at 11:22 am
Posted on 10/7/20 at 11:22 am
The reason I'm asking this question is because I set a sell order for my shares of Fastly at $115 and it hit today.
My question is do you have to pay taxes on shares of a stock that is sold in your Roth IRA? I know you pay a penalty if you withdraw money from your Roth, but how about by just trading stocks within the Roth?
I'm not going to make a habit of trading within it, but I made a good bit by selling those shares (was in at $41) and now probably just going to throw that cash towards a mutual fund of some sort.
My question is do you have to pay taxes on shares of a stock that is sold in your Roth IRA? I know you pay a penalty if you withdraw money from your Roth, but how about by just trading stocks within the Roth?
I'm not going to make a habit of trading within it, but I made a good bit by selling those shares (was in at $41) and now probably just going to throw that cash towards a mutual fund of some sort.
4
Posted on 10/7/20 at 11:24 am to Ballstein32
No, there are no taxes on trades inside of any qualified account, whether traditional or Roth (if this is a serious question).
This post was edited on 10/7/20 at 11:26 am
Posted on 10/7/20 at 11:25 am to Ballstein32
No, as long as everything is done within the IRA there are no tax implications.
Posted on 10/7/20 at 11:29 am to Spock
Thanks guys
Posted on 10/7/20 at 7:09 pm to Ballstein32
quote:
I'm not going to make a habit of trading within it
Why not. It's a great way to swing trade without getting taxed - especially if there are no transaction fees.
Posted on 10/7/20 at 7:23 pm to LSU82BILL
You know, I asked myself that shortly after I posted the original question. Lol
Maybe I will but I have most of my money tied into mutual funds (with the exception of those fastly shares I sold)....maybe I will start doing some swing trading.
Maybe I will but I have most of my money tied into mutual funds (with the exception of those fastly shares I sold)....maybe I will start doing some swing trading.
Posted on 10/7/20 at 7:25 pm to Ballstein32
A roth ira is the perfect day trade account.
Posted on 10/7/20 at 7:26 pm to Ballstein32
Not to hijack the thread but what about a brokerage account i.e. Fidelity
Posted on 10/7/20 at 7:31 pm to Ballstein32
If you do trade, go after the true growth stocks. Apple’s growth is already factored in, stay away from there. Probably should just stay away from the anti trust 4 until the smoke clears.
If California’s new carbon emission laws are of any indication of what the future holds, EVs and TAAS will be the next big market. Start researching that market and the secondary markets such as lithium.
If California’s new carbon emission laws are of any indication of what the future holds, EVs and TAAS will be the next big market. Start researching that market and the secondary markets such as lithium.
Posted on 10/7/20 at 7:34 pm to CajunTiger78
quote:
Not to hijack the thread but what about a brokerage account i.e. Fidelity
Yeah. That’s taxable.
Posted on 10/8/20 at 1:10 am to jangalang
Oh yeah, im heavily invested in WKHS, DPHC, and STLHF.....but those are in my regular brokerage account.
My Roth is mostly mutual funds and EFTs along with some long term holds with nice dividends (KO, TSCO, XOM, RDS.B, MSFT).
I'm thinking next maybe some PLUG, BLNK, or maybe some LLNW.
Thanks for chiming in!
My Roth is mostly mutual funds and EFTs along with some long term holds with nice dividends (KO, TSCO, XOM, RDS.B, MSFT).
I'm thinking next maybe some PLUG, BLNK, or maybe some LLNW.
Thanks for chiming in!
Posted on 10/8/20 at 6:24 am to Ballstein32
VLDR might be a good one .Ford just got a 10% stake in the company. Cheaper prices after the ticker change to boot. DANA as well.
This read by stockgumshoe is basically my source of FOMO for the EV market.
LINK /
Obviously this is more investing than trading but in reality you will just lose money if you daytrade and miss on great opportunities by selling for small profit.
This read by stockgumshoe is basically my source of FOMO for the EV market.
LINK /
Obviously this is more investing than trading but in reality you will just lose money if you daytrade and miss on great opportunities by selling for small profit.
Posted on 10/8/20 at 7:20 am to jangalang
quote:
Yeah. That’s taxable.
Depends on the type of account.
Brokerage account is not descriptive at all
Posted on 10/8/20 at 8:30 am to Weagle25
So I have a ROTH through Ameritrade. That should not be taxable. My standard account through Ameritrade is.
Posted on 10/8/20 at 9:33 am to jangalang
quote:
So I have a ROTH through Ameritrade. That should not be taxable. My standard account through Ameritrade is.
Right. And those are both brokerage accounts.
That’s all I’m saying. Him saying brokerage account doesn’t mean it’s taxable. Depends on what type of brokerage account
Posted on 10/8/20 at 9:40 am to Weagle25
Maybe I assumed differentiation of the brokerage accounts because this thread is already about ROTHs and capital gains.
Posted on 10/8/20 at 10:24 am to Ballstein32
I use my Roth for all of my trading. PLUG has been very good to my Roth
Posted on 10/8/20 at 11:21 am to jangalang
quote:
If you do trade, go after the true growth stocks
Don’t confuse trading with investing - especially swing trading.
ETA: What I mean is, if you’re swing trading (or day trading - which isn’t advised), you care about price movement over some relatively short time period, not the stock’s prospects over a longer time period. AAPL, MSFT or whatever can be fine trading vehicles, depending on what type of trading you’re doing.
In a Roth, he can’t use margin or go truly short, but he can do other things (like covered calls, cash covered puts, etc.).
This post was edited on 10/8/20 at 11:28 am
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