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The original message was received at Mon, 27 Apr 1998 07:57:27 -0400 (EDT)
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realtrader@xxxxxxxxxxxxxx
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Mon, 27 Apr 1998 07:57:26 -0400 (EDT)
From: Proffittak <Proffittak@xxxxxxx>
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Message-ID: <9861179c.354472a9@xxxxxxx>
Date: Mon, 27 Apr 1998 07:57:26 EDT
To: OkieDame@xxxxxxx
Cc: realtrader@xxxxxxxxxxxxxx
Mime-Version: 1.0
Subject: Re: Brokerage for IRAs
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irs publication re ira have not only the limitation on contributions and
income limits but also where mony can be invested and how
an example from publication is margin
if you borrow aginst your ira what you bowwow will be taxable income!!!!
to trade options (other then covered calls) you need a margin agreement
once you singed it and executed a trade in the margin account
it is YOUR RESPONSIBILITY NOT THE BROKRAGE to report the trade as income
in that phisical year
do not play with fire!!!!!!
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