IRA accounts cant be margin accounts, therefore no shorting. I plan to day trade my regular account, and swing trade my IRA accounts. peace axeman
The Feb issue of this mag also has an article by Green (who posts here occaisionally) which states that if you "trade" more than 25% of your IRA, it could be considered taxable income. He gave no further details than this however. I do not know how a trust would work in this case.. If gobs of people are doing it, then I would suppose it works. Jay
Dont think so. You have a few months. Same deadline as an IRA contribution deadline I think. Go sign up for one with IB and it will tell you. peace axeman
Kind of curious if anyone knows about splitting an IRA's funds into two accounts. My IRA is currently held by Edward Jones. They're buy and hold types. And expensive. I've got about about half in Mutuals and half in stocks. IB doesn't trade the mutual fund family I hold, but I'm happy with them. I was told, it's simple, just transfer the stocks and cash into an IB IRA account. But I guess I'm skeptical. Can you have your IRA funds in two different accounts? Has anyone done this? André
Yes, you can split the assets in an IRA. What you need to do is open another IRA somewhere, have the Edward Jones cut you a check from your existing IRA and then be sure to deposit it in the new IRA...I think it must be done within 30 days. I forget exactly how many days you have.