Tue, 10 Dec 2024 14:38:50 -0800
marlon from private IP, post #14227882

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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

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 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

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