At? If I buy stocks with a Roth account through Scottrade, will all proceeds be untaxable from that trading with the Roth accounts? If I trade with money that is not Roth and this is my only earnings for a year, are they considered to be wages and tips so that if I make money from this I could then buy Roths each year from those taxable proceeds? And what would my occupation be on my income tax return doing this?
Monies gained in your Roth are insulated provided you follow the guidelines of the Roth (not distributing until certain age).
Monies gained outside the roth would most likely be taxed. If you did this and wanted some tax deductions for making this a business, then you'd be a trader.
Here's a site that can help you out.
Tradersaccounting.com
Cheers!
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