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Tue, 10 Dec 2024 14:38:50 -0800
marlon from
private IP, post #14227882
/all
worried about my tax bill
wish i had all my trading activity done in my Roth IRA, then would owe zero
tax.
But contributions are limited per year, & I never made any. Never planned on
day trading.
last yr i had the same problem, also got hit w/ Net investment income tax of
3.8%, almost $5k in tax in addition to the capital gains tax. But then i
suffered a big trading loss in February of this yr that wiped out most of my
gains for last yr, it was stupid but my mind works that way, i was worried about
my tax bill after prepping my tax return. Had to file a fiscal tax year by
mail, so that my losses in Feb'24 were included in yr2023, else i'd been paying
tax on money i had lost already. But now i'm back to where i was, assuming i
paid the tax. No way am i going to lose $$ on a trade again.
https://www.aarp.org/retirement/planning-for-retirement/info-2023/ira-contribution-limits.html?cmp=KNC-DSO-COR-Core-Retirement-NonBrand-Phrase-44603-Bing-RETIREMENT-Contribution-Phrase-NonBrand&&msclkid=cc6d267a7cbb17af61b64122c26d949b&utm_source=bing&utm_medium=cpc&utm_campaign=Core-Retirement-NonBrand-Phrase&utm_term=maximum%20contribution%20to%20ira&utm_content=Contribution&gclid=cc6d267a7cbb17af61b64122c26d949b&gclsrc=3p.ds
Tue, 10 Dec 2024 18:04:34 -0800
whiteguyinchina from private IP
Reply #15562203 So Roth is basically tax free
capital gains right? I have to deposit some money soon
Tue, 10 Dec 2024 19:03:09 -0800
marlon from
private IP
Reply #17084447 yes
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