UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: sunrayman Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: taxable IRA after maxing 403b Date: 1/11/2004 10:39 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Seems like this would just get me the withdrawal restrictions of an IRA, but with none of the tax benefits... I must be missing something.

Any enlightenment?


++++

This is the very short version answer:
You do not pay taxes on any gains/dividends/transactions/exchanges within your IRA. In a regular/taxable account, all those activities are taxable events.

I'll not mention that losses within your IRA are not tax deductible {because you are never going to have a loss--right? LOL}, whereas losses in a taxable account can be deducted (up to $3k/yr - I think) against ordinary/earned income.

sunray
Disclaimer: I'm not a CPA, CFA, or Attorney
Heck, I'm only an early retiree {i.e. under 59.5 yrs)
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement