What are the tax implications of including digital currencies in my Voya retirement plan?

3 answers

• Nov 26, 2021 · 3 years ago
  Including digital currencies in your Voya retirement plan can have tax implications. It is important to consult with a tax professional to understand the specific tax rules and regulations that apply to your situation. In general, the IRS treats digital currencies as property for tax purposes. This means that any gains or losses from the sale or exchange of digital currencies may be subject to capital gains tax. Additionally, if you hold digital currencies in a retirement account, such as a traditional IRA or a Roth IRA, there may be additional tax considerations. It is important to understand the tax rules and regulations before including digital currencies in your retirement plan.
  691346
• Nov 26, 2021 · 3 years ago
  Adding digital currencies to your Voya retirement plan can have tax implications. The IRS treats digital currencies as property, which means that any gains or losses from the sale or exchange of digital currencies may be subject to capital gains tax. It's important to keep track of your transactions and report them accurately on your tax returns. Consult with a tax professional to ensure you are following the proper tax rules and regulations.
  446149
• Nov 26, 2021 · 3 years ago
  When it comes to the tax implications of including digital currencies in your Voya retirement plan, it's always a good idea to consult with a tax professional. They will be able to provide you with the most accurate and up-to-date information based on your specific situation. The IRS treats digital currencies as property, so any gains or losses from the sale or exchange of digital currencies may be subject to capital gains tax. However, there may be additional tax considerations if you hold digital currencies in a retirement account. It's important to understand the tax rules and regulations before making any decisions regarding digital currencies in your retirement plan.
  680170