Assuming I'm going to try the just described process (I know, I know, I'm a "fool"), can anyone provide some "do-s" and "don't-s" or recommend a primer source of information? I obviously don't want to run afoul the IRS, at any point. All I hope to achieve is do trades within the sheltered accounts then withdraw the hoped - for profits as income. Doing that, do I become some kind of an "independent investor" or "self - employed" type, subject to as yet unknown taxes, regulations, paperwork, etc., or will I simply be an individual who generates income (I hope!) on which short - term tax treatment applies?You can continue to treat the trades as you did in the past. Just fill out the 1040. You will not have to be called a trader or self employed.Remember you do not benefit from capital gains or losses on the sale of securities in a deferred account. Therefroe consider stock outside of the deferred accounts and income investments inside the deferred account.