Can I invest in Series I savings bonds through my Roth IRA?
by admin ~ March 7th, 2007 . Filed under: Investing .
Ring Girl asked:
If so, will I have to pay federal income tax on the interest when I redeem the bond, or not?
Carey Skweres
If so, will I have to pay federal income tax on the interest when I redeem the bond, or not?
Carey Skweres
March 8th, 2007 at 10:32 pm
I think you can invest in almost anything (except options) in an IRA.
Howver, it doesn’t make sense to invest in tax free items (such as savings bonds) in an IRA. The interest/dividends/capital gains inside any type of IRA are not taxable. Standard IRAs are taxed at withdrawal. The advantage of Roths is that they are NOT taxed once you retire & start withdrawing.
If you want to invest in bonds, look at bond mutual funds.
March 10th, 2007 at 7:59 am
It appears that the question period has expired. If you have received an answer that meets your needs, please choose a ‘best answer.’
If you haven’t received a good answer for your question, you may want to consider the following,
1) Re-post your question. Newer questions get more activity on Yahoo! Answers than old ones.
2) If you do re-post your question, consider why it wasn’t answered the first time. Could it be more specific? Could it be worded better? Were there grammatical or spelling errors? Was it in the best category?
If it doesn’t seem likely that re-posting your question will help you, then here’s a listing of my favorite ‘answer sites’. Maybe one of them will help you.
Answers.com
Bartleby
Yahoo Reference
HowStuffWorks
Wikipedia
Regards.