The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Royalty Trust Income||Date: 3/7/2009 9:56 PM|
|Author: stockmover||Number: 105005 of 122998|
I am considering buying some stock which reguarly distributes royalty income. I have read some horror stories on the Fool msg boards how this income is reported on Sch E and that some stocks are notorious for sending out "corrected" 1099's very late during the filing season and of course required that an ammended return be filed for those folks who already filed their return.
I was wondering if I can avoid all these problems by purchasing these stocks within my traditional IRA to avoid these problems? Logic tells me yes, but as Phil often says ...the IRS is NOT always logical regarding their regulations.
Will this work for me? Any advice would be appreciated.
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