The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Roth trading fees from Roth funds?||Date: 2/17/2000 2:50 PM|
|Author: Chipsboss||Number: 19207 of 82855|
You can prove to yourself that, unfortunately, Pixy is exactly right.
http://www.irs.ustreas.gov/forms_pubs/pubs/p5900104.htm is the government source on IRA's. It says, in part,
Brokers' commissions. Brokers' commissions paid in connection with your traditional IRA are subject to the contribution limit and are not deductible as a miscellaneous deduction on Schedule A (Form 1040).
(The same is true of the Roth IRA, I believe, but I couldn't find a reference for you.)
Worse than that, it seems to me, is that the $2000 annual limit is not indexed for inflation. Someone in congress may be talking about raising the limit to $5000. You know in advance that the critics of that plan will say that it benefits "only the rich", as if investments don't produce jobs.
Chips, all for seeing sources if possible
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|