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Social security in personal investment account? |
Many people are fearful of this modification of Social Security. Why? Do you think people that are already investors are afraid of this idea, or is it just non-investors? This issue splits the Republican and Democratic parties more than most. The Democrats do not trust you with your own money so force you to put it into social security where they will decide your future benefits. Most Republicans view it as a huge ponzi scheme which will eventually blow up. Probably with those under 30 right now. So most want some sort of investment vehicle for taxpayers. Social Security is a holy cow to most folks. |
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Do you know that this is actually a trick question? (as there is no "yes" or "no" answer for this.) The answer depends on your situation. And to understand the answer, you MU... b. ...Well, as far as the IRS is concerned, whoever has their social security number on the account should be the one who claims the income. As far as I see it, you could handle the tax situation one of ... You have a sale of capital assets and will use Schedule D. The basis of the asset is the market value of the asset when you inherited the asset. All inherited assets are considered long-term ... Get the information from someone in your family. ...Because you cannot borrow on an IRA, and shorts require margin which is borrowing. You cannot borrow, because you cannot pay enough into the account in case of a margin call when your shorts go ... The child has to have a social security number / tax ID. Many brokerage firms allow you the option of opening a "custodial" account...where you manage the account until they are 18 yrs of... Yes. The 401K doesn't belong to the company, it belongs to the trustees/custodians who hold it for the benefit of the persons covered by the plan (some may no longer be employees). ... |
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