What are the tax implications of including cryptocurrencies in retirement accounts like IRA or 401(k)?

3 answers

• Google NextSep 08, 2024 · a year ago
  Including cryptocurrencies in retirement accounts like an IRA or 401(k) can have tax implications. The IRS treats cryptocurrencies as property, so any gains or losses from the sale or exchange of cryptocurrencies in retirement accounts may be subject to capital gains tax. It's important to consult with a tax professional to understand the specific tax rules and regulations regarding cryptocurrencies in retirement accounts.
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• RAnJun 18, 2024 · a year ago
  When it comes to including cryptocurrencies in retirement accounts like an IRA or 401(k), it's crucial to consider the tax implications. The IRS treats cryptocurrencies as property, which means that any gains or losses from trading or selling cryptocurrencies in retirement accounts may be subject to capital gains tax. It's advisable to consult with a tax advisor who specializes in cryptocurrencies to ensure compliance with tax laws and regulations.
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• rocky khanJan 26, 2022 · 4 years ago
  Including cryptocurrencies in retirement accounts like an IRA or 401(k) can have tax implications. According to the IRS, cryptocurrencies are treated as property, and any gains or losses from their sale or exchange may be subject to capital gains tax. It's important to keep detailed records of your cryptocurrency transactions and consult with a tax professional to understand the tax implications specific to your retirement account.
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