Replies to post #40920 on CBA Florida Inc. (fka CBAI)

[heytony]

This strategy obviously isn't for everyone...

But take Pitman33 for example.

He bought in on Jan 8 @ .0197.
See post #19101
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45316626


He could sell his 1M shares @ a loss of $15,700 and take that on his 2010 taxes.

He could then buy back in thru a ROTH IRA and when this goes up enjoy tax free gains!

2X the bang for his troubles!!!

1000000 @ $0.0197 = $19,709.99 (based on $9.99 comm @ etrade)
1000000 @ $0.0040 = $4,009.99
LOSS $15,700.00

then when this hits $100/share (tax free!!!)...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53259827

I can wait 5 years!!!

[PAPAPAPA]

You also have to be 59 and a half to withdraw (with out penalty) from the Roth IRA. I loaded the wifes Roth with CBAI and one other stock. I started loading the other in 2009 and CBAI just in the last few months. I had been waiting for an entry point in this one for well over a year...The wife turns 60 in 2014. It's going to be real interesting over the next few years...GLTA

[MinnieM]

If you are thinking of holding CBAI in a Roth IRA and it runs up, you'd be in a good position.

Btw, to withdraw from a Roth IRA without paying taxes on your stock gains you need to be 59 and 1/2 and the account needs to be five years old. It's not how long you hold the stock...it's the age of the account the shares are held in. At least, that is my understanding of Roth withdrawals.




In Reply to 'holter'

heytony, Then you have to wait 5 years to avoid paying any taxes on the Roth Account gains.