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Message: Re: Capital Gains Tax

Oct 31, 2008 10:14AM

I'm sure everyone is aware of this, but just in case a youngin out there might not be, maybe Thekid37...here's how to beat the system. Well, a little bit that is.

If you say beat the system it might imply that your are cheating uncle sam with his share the technical word is you are deferring paying the tax now up until you start withdrawing your Ira say when you are 59 and 1/2. capital gains in an IRA are now tax free until you start withdrawing the money at that time you will pay tax on any distribution from your ira as if it is ordinary income.



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