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Re: The Penny Reaper post# 53201

Wednesday, 08/23/2017 9:47:19 PM

Wednesday, August 23, 2017 9:47:19 PM

Post# of 127559
One year from purchasing stock it becomes a "long term" capital gain at 15%, if you sell before, you're taxed under the "short term" capital gain at your Federal Income percentage.

Some people avoid this by trading stocks in a Roth, but you have to know, you will not be able to access that Roth money until you are 59 and a 1/2. - unless you want a serious penalty! Also know, if you earn more than $131K, filing as a single, or $193K, jointly, you earn too much money to contribute into a Roth - those numbers may be different in 2017???

I am not a CPA and this is not advice...but I did stay at a Ritz Carlton last weekend!