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Tax on taxable account and traditional IRA
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I just want to make sure certain things.
For taxable account, I'll be taxed on realized gains ( by selling the stocks), it has nothing to do with me withdrawing money from the taxable account. Is it correct?
For traditional IRA account, if I earned $6000 self-employed income this year, and I contribute all $6000 to the IRA, then I pay no earned income tax this year? But when I withdraw money, I'll be taxed on both gains and initial investment right?
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