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TagsWhat are the tax implications of holding digital currencies in a stash IRA?
Er. Jitendra sharmaDec 17, 2021 · 3 years ago1 answersCan you explain the tax implications of holding digital currencies in a stash IRA? I'm curious to know how it affects my tax obligations and if there are any specific rules or regulations I need to be aware of.
1 answers
- As an expert in the field, I can tell you that holding digital currencies in a stash IRA can indeed have tax implications. The IRS treats digital currencies as property, which means that any gains or losses from selling or exchanging them in your stash IRA may be subject to capital gains tax. It's important to stay up to date with the latest tax regulations and consult with a tax professional who specializes in cryptocurrency to ensure you're compliant with the law. Remember, it's better to be safe than sorry when it comes to taxes!Dec 17, 2021 · 3 years ago
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