21.   However, you might consider buying them for a Roth IRA, where all investment gains accumulate tax free.

22.   If it is a nondeductible IRA, then only your investment gains are taxable.

23.   In another key difference, Gramm would impose the tax on all forms of income, including stock dividends and other investment gains.

24.   In addition, pretax profit now includes investment gains.

25.   In the current year, the company expects profit from its insurance operations to improve yet warns that investment gains are likely to drop.

26.   In the current year, the company expects profit from its insurance underwriting operations to improve yet warns that investment gains are likely to drop.

27.   In that case, you would pay taxes only on the amount of the investment gains in that IRA when you convert it to a Roth.

28.   Investment gains have accounted for the remaining growth.

29.   It said core earnings exclude not only investment gains and losses and certain one-time items, but also the premiums earned from bond refundings.

30.   It takes sizzling investment gains -- the kinds made by extremely aggressive investors in very strong markets -- to overcome the handicap of the expenses.