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Enerplus Corporation Message Board

  • titomac4477 titomac4477 Aug 5, 2009 11:33 PM Flag

    Tax implications for IRA???

    I have a tax deferred IRA ( a 401K roll over from another company) so will I incur any bad tax problems if I hold on to a Conroy for longer than a year. I'm thinking of jumping it to some HTE or ERF. Thanks for any input...

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    • Don't put foreign stocks that have significant tax withholding on dividends into an IRA, they should be in a taxable account.

      The tax withholding from the foreign government gets a 100% refundable tax credit if held in a taxable account - non-taxable accounts don't get this advantage.

      As a general rule don't put tax advantaged securities (Muni bonds, Master Limited Partnerships, high dividend paying foreign stocks with tax withholding) into a non taxable or tax differed account.

    • IRA's (and 401K's) are tax-deferred. You pay no taxes for gains within an IRA (and 401K) in the year that the gains/losses are incurred. Rather, you pay taxes on each withdrawal from the account in the year that you make the withdrawal. Withdrawals are taxed at ordinary income rates when withdrawn. If withdrawals are made before your age 59 1/2, there may be a 10% penalty for early withdrawal, if it does not qualify for certain IRS rules.

      EXCEPTION: If the IRA is a Roth IRA, you pay no taxes at any time (and you cannot deduct the losses).

      • 1 Reply to alw59saw
      • There are certain conditions where if the IRA is a ROTH that you can claim losses, you need to withdraw from the ROTH; and at the time can deduct losses, there are times when this can be done penalty free, you then can only put back into the ROTH the yearly max tho; (typically 4k) Its an odd exception but real. You can look it up for the full details.

    • I own both HTE and ERF, and have recently purchased more ERF.

      It's really a bet on commodities in general going foward. I don't know if ERF/HTE are any better than any of the other energy opportunities out there but I do feel comfortable that oil is a nice holding.

    • No capital gains tax for stocks held in IRA. Also, you get no
      tax deductions for capital losses in IRA.

      • 1 Reply to palmspringscopper
      • WTF kind of response is that...??

        don't hold CanRoys in an IRA if you are a US citizen imho...there is a 15% withholding from the Can Govt as well as currency exchange issues...if you hold this in an IRA you can not get a tax deduction from the IRS for that calendar year...on top of that why jump into CanRoys now with the uncertainty going forward regarding the 2011 tax issues/corp changeovers that's hanging over their heads, and ours...wait until the dust settles imho...better alternatives to invest in at this time...

        disclosure;
        currently hold positions in hte and erf

 
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