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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!
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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'm sure the process is clear to you, but I haven't a clue what you're talking about doing. Even so, I think I can answer your tax question.

You are in the golden years. From now until you're 70 1/2, you can do whatever you want with your IRA and retirement plan money, paying only income tax on only amounts taken out from under the retirement umbrella. The only gotcha is that you can't engage in "prohibited transactions." I doubt you were thinking of doing so, but they're described in IRS Publication 590 under the penalty section of the Traditional IRA chapter.

TMF ExRO
Phil Marti
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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.
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