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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Aloha who wrote (2092)	3/28/1999 2:08:00 AM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

One of these days I plan on really digging into using tax-exempt/tax-deferred vehicles (like IRAs) for daytrading. Until then there is concern with AT LEAST these two "PROHIBITED TRANSACTIONS" Operating a "trade or business" out of a tax-exempt/tax-deferred entity. Maintaining a loan or "margin account" in a tax-exempt/tax-deferred entity. SEC rules (as I have been told) require a margin account for accounts identified as being active e.g. daytrader accounts. Colin