So I opened an IRA as a result of I’ve learn it’s a good choice for funding to arrange for retirement. I’ve tried to do my very own analysis and I sorta perceive what it’s, however there are some questions that I have not discovered that haven’t but been answered.
- When you fund your account, in my case a Roth IRA, does the cash get taxed that I put in? So say I simply funded it with $100 – does that $100 get taxed whereas it is being processed into my Fidelity account?
- Can I take advantage of the cash that’s in my Roth IRA account, use that cash and make investments it – Buy shares and ect?
- If the cash I add will not be taxed in the course of the deposit (switch from financial institution), when does it get taxed? Is it yearly for tax season?