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maridrex
New Member

I have stock that I want to sell and put the proceeds into my IRA account, will I still have to pay taxes on the proceeds from the sale.

 
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I have stock that I want to sell and put the proceeds into my IRA account, will I still have to pay taxes on the proceeds from the sale.

Yes.  Doesn't matter what you do with the proceeds.  And to contribute to the IRA you need to have enough earned income from W2 wages or a net profit on schedule C from self employment income.  And the max to make a new contribution is $5,500 (6,500 if over 65).  You are not doing a transfer or rollover.

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I have stock that I want to sell and put the proceeds into my IRA account, will I still have to pay taxes on the proceeds from the sale.

Yes.  Doesn't matter what you do with the proceeds.  And to contribute to the IRA you need to have enough earned income from W2 wages or a net profit on schedule C from self employment income.  And the max to make a new contribution is $5,500 (6,500 if over 65).  You are not doing a transfer or rollover.

I have stock that I want to sell and put the proceeds into my IRA account, will I still have to pay taxes on the proceeds from the sale.

Yes, you will.

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