What are the tax implications of including cryptocurrencies in a fidelity rollover IRA?

3 answers

• Horton MoonApr 29, 2025 · 4 months ago
  Including cryptocurrencies in your fidelity rollover IRA can have tax implications. The IRS treats cryptocurrencies as property, so any gains or losses from their sale or exchange are subject to capital gains tax. If you hold the cryptocurrencies for less than a year, the gains will be taxed at your ordinary income tax rate. If you hold them for more than a year, the gains will be subject to long-term capital gains tax rates, which are typically lower. It's important to keep track of your transactions and report them accurately on your tax return to avoid any penalties or audits from the IRS.
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• Erickson WongOct 01, 2022 · 3 years ago
  When you include cryptocurrencies in your fidelity rollover IRA, you need to be aware of the tax implications. The gains or losses from selling or exchanging cryptocurrencies are subject to capital gains tax. If you hold the cryptocurrencies for less than a year, the gains will be taxed at your ordinary income tax rate. If you hold them for more than a year, the gains will be subject to long-term capital gains tax rates. Make sure to report your transactions accurately on your tax return to comply with IRS regulations and avoid any penalties.
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• Teodor IgnatOct 02, 2021 · 4 years ago
  Including cryptocurrencies in a fidelity rollover IRA can have tax implications. The IRS treats cryptocurrencies as property, so any gains or losses from their sale or exchange are subject to capital gains tax. The tax rate depends on how long you hold the cryptocurrencies. If you hold them for less than a year, the gains will be taxed at your ordinary income tax rate. If you hold them for more than a year, the gains will be subject to long-term capital gains tax rates. It's important to consult with a tax professional to understand the specific tax implications for your situation.
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