Hi IB Reps and others, I'm thinking of opening an IB Friends and Family account. Is it possible to fund this account with a personal IRA account that I already have at IB? And if so, would the profits I made using my personal IRA account be able to be withdrawn without tax penalty? how does that work? Note: I have an IB IRA account as well as IB normal taxable account. thanks! 99
Hmm. Interesting. But how about the profits I get from other people who put money in the f&f with TAXABLE dollars? Or would they have to fund it with IRA/nontaxable dollars as well? just curious, 99
So people can fund both taxable and nontaxable under my master f&f account? But my mgmt fees that I'll charge them will be for performance of the master account which has BOTH taxable and nontaxable subaccounts. So, i can withdraw the fees I made on the taxable subaccount without penalty but can't do that for the nontaxable subaccount? thanks. hmm.. 99
vhehn et al, what I meant was can I fund the master account under f&f with my personal IRA? I know the accounts under the master account can be funded with IRA. I was just wondering if the MASTER account for f&f can be funded using IRA? It's not clear from IB website. IB reps - can you please answer this one as well? thnx! 99
IRAs does not allow margin so shorting is not allowed. I wonder how it is handled under the IB Friends and Family account. If you short stocks in the master account, can the gains/losses be distributed to an IRA subaccount? Thanks!