Quote:
Originally Posted by KCUnited
For those trading within your IRAs. I trade in mine as well but after the contribution limit I use Webull.
If I don't necessarily need the liquidity, should I be opening more IRAs to max out and trade in? Is that even allowed? Or am I missing the point entirely of trading within IRAs?
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You cannot max out more than one IRA. So you can only contribute $6,000 (or $7,000 if over 50) per year into any IRA you have. I assume most people utilize Roth IRAs to trade within since there are no taxable gains recognized within that account, assuming you don’t actually withdraw the earnings.