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Lets do this again. YOU CAN DO CASH SECURED TRADES IN AN IRA>>>>CASH SECURED
PUT SALES OR CALL SALES> LONG OPTIONS AGAINST CASH> It is true you can go on
margin...that is what is not allowed.....but no trades are specifically
prohibited, borrowing money is....but you don't have to borrow for a cash
secured trade.
Peter Namtvedt wrote:
> 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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