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Lind-Waldock and Keystone Commodities allow up to 1/3 of
your IRA funds to be used to trade futures.
>Proffittak writes:
>it is illigall to do even what fidelity allows
>
>the irs publication only allows selling covered calls
>if you do more it is TAXABLE INCOME THAT YEAR!!!!!
>
>Not having seen the post to which you are responding, I can only assume you
>are commenting on the use of options in an IRA...i.e., only being able to
>write covered calls.
>
>If that is a correct assumption, I would respectfully disagree. IRA option
>limitations are imposed by brokerage houses...NOT the IRS. There are no
rules
>or regulations limiting activity to covered calls...in fact, there ARE a
>handful of brokerages that allow other option actiivity...it is NOT against
>the law,,,certainly not the IRS law. Your comment that any "profit beyond
a
>covered call is taxable" is patentedly absurd...the idea of an IRA is
>sheltered income/profit, which, as we all know, is not taxable until
withdrawn
>from the IRA.
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