If I find the next Amazon and earn $1 million, will my Roth IRA be taxed?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. I’m 50 years old and I opened up a Roth and started funding it with the yearly max of $7,000. Let’s say I put the Roth at a brokerage house and use the Roth to buy and sell stocks. After 10 years when I’m 60, let’s say I invested in the next Amazon and it’s now worth $1 million. Would the $1 million be tax free? Is there any situation where taxes would be owed? And how frequently can I trade in the account. — Investor A.
I didn’t get my stimulus. How can I get it on my 2020 tax return?
By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. I did not receive a stimulus check because my income was too high in 2019. My 2020 income will be lower. Will I be able to get a tax credit for the stimulus based on my 2020 income? — Need the money A. There have been many questions about what happens for those in your situation. The first round of stimulus checks were given to people based on their 2019 income tax returns. If you were single and earned less than $75,000,