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At 07:01 PM 4/28/98 EDT, Proffittak wrote:
>To: Proffittak@xxxxxxx
>Auto-Submitted: auto-generated (failure)
>
>The original message was received at Mon, 27 Apr 1998 07:57:27 -0400 (EDT)
>from root@xxxxxxxxx
>
>Date: Mon, 27 Apr 1998 07:57:26 EDT
>To: OkieDame@xxxxxxx
>Cc: realtrader@xxxxxxxxxxxxxx
>Mime-Version: 1.0
>Subject: Re: Brokerage for IRAs
>
>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!!!!!!
>
>
What IRA publication are you referring to? Please be specific.
If what you say is true, why would the IRS catch on? What brokerage house
would ever allow you to do margin trades in an IRA?
PeteNa9090
petena9090@xxxxxxxxxxxxxx
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