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Hi- My wife and I have a gross yearly income of less than 15,000. We have roughly that amount in common stock and we each started Roth IRAs this spring and funded them fully.

My question: what kind of a tax penalty can we expect after selling stock then buying it right back to fund our IRAs? Also, what kind of penalty will we incure after selling approx. $3000 of stock to pay debt? Finally, we are thinking about selling a considerable portion of our stock (50 to 75%) to use as a down payment on a piece of investment property. What things should we be keeping in mind on all these issues?

Can anyone answer my questions and offer some suggestions on ways to relieve our possible tax burden?

Thanks- John
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