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Profit from selling stocks

By Terry Savage on May 18, 2022 | Taxes & Economy

Made about 30 K from stock sales how can I not get tax on that profit put it in a Roth IRA or any other suggestions

Terry Says

Congratulations! You made money! Now pay your taxes and keep the balance! There is no way to avoid taxes on gains. BUT, if you held those stocks for at least one year, you get the lower capital gains tax rate. Ask your accountant or tax preparer.

And yes, if you also have earned income, and qualify based on income, you can take the after-tax proceeds, open a Roth IRA — keep investing — and NEVER pay taxes!

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