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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Ira Player who wrote (3364)3/12/1998 3:24:00 PM
From: Robert A. Green, CPA  Read Replies (1) of 12617
 
Answer - Traders conducting business in retirement accounts

I agree with Ira in this post and disagree with other posts I have seen in SI about conducting a trading business within one's retirement accounts.

Retirement accounts are by design long-term investments. Retirement account administrators are charged with the responsibility to conservatively invest retirement funds for the beneficiaries' retirement needs. If you own your own plan and self-direct it, that does not negate these responsibilities.

Being in the trading business should not be commingled and confused with long-term investing in your retirement accounts. I have heard of taxpayer situations whereby the IRS was not happy about active trading in retirement accounts. It is also unwise to loose money from speculative business trading in a retirement account. There are also rules about excess retirement funds that can cause problems.

So don't mix your trading business with long-term conservative retirement investing.

I think if you have done some active trading in your retirement plan and have some sizable gains from the activity, don't worry too much about it for now, as the rules are not very clear or well defined objectively.

rgreen@greencompany.com greencompany.com
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