Are there any tax implications if I withdraw from my IRA to invest in digital assets?

4 answers

• May 13, 2022 · 3 years ago
  At BYDFi, we understand that you may be considering withdrawing funds from your IRA to invest in digital assets. While we cannot provide personalized tax advice, we can tell you that there may be tax implications to be aware of. The IRS treats cryptocurrencies as property, so if you withdraw funds from your IRA and use them to invest in digital assets, any gains you make from selling those assets may be subject to capital gains tax. It's always a good idea to consult with a tax professional to understand the specific tax implications based on your individual situation.
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• May 13, 2022 · 3 years ago
  tax, IRA, digital assets
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• May 13, 2022 · 3 years ago
  cryptocurrencies, tax implications, investments
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• May 13, 2022 · 3 years ago
  retirement, taxes, digital currencies
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