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I am preparing to open my first IRA account and have questions about stocks.

Can I purchase any stocks to contribute to an IRA? ( I am going to be purchasing some OTC stock, soon to be on Nasdaq, and want to know if It can be my IRA contribution)

Now, If I can purchase any stocks, then what happens if the stock needs to be sold? As I understand it the funds would still be part of my IRA but just held in a money market type account until I reinvest. Is that correct?

And finally, can I take stocks I already own and move them into an IRA account?


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