What are the tax implications of investing in digital currencies through a Vanguard Gold IRA?

1 answers

• Jun 01, 2022 · 3 years ago
  Investing in digital currencies through a Vanguard Gold IRA can have tax implications that you should be aware of. The IRS treats digital currencies as property, which means any gains or losses from selling or exchanging them are subject to capital gains tax. If you hold your digital currencies for less than a year before selling, the gains will be taxed as short-term capital gains. However, if you hold them for more than a year, the gains will be taxed as long-term capital gains, which are typically taxed at a lower rate. It's important to consult with a tax advisor to understand the specific tax implications and ensure compliance with IRS regulations.
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