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Gift - no tax. Stock sale - tax on profit, if any. Type of tax depends on how long stock was held. IRA - if Roth, no effect on tax return. If traditional, may be deductible, depending on other factors. Money market - interest is taxable.

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16y ago
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Q: If you were gifted 12000 and sold stock in 2007 and then opened an IRA and a money market account with it what kind of taxes do you have to pay?
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