Please bear with me; I'm sure at least some of the previous 26,840 posts have already covered my inquiry but I'm just too lazy to look!I got the "gate" about 9 months ago; via individual, Roth, and a roll - over IRA, I'm reasonably well provided for - at the moment. The challenge, as I see it (I don't want to attempt a return to the work force, in a new field of endeavor, at the tender age of 60 years!) is to generate some income using a portion of the tax sheltered funds and trading equities (I'm reasonably adept at the process but get my brains beat out occasionally just like most folks).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?Thanks for any assistance and opinions offered!
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M