Skip to main content
No. of Recommendations: 2
Here is a Fool article from a while back that may be of help.

https://www.fool.com/retirement/2017/10/01/is-a-bitcoin-ira-...

Fuskie
Who notes cryptocurrency remains a risky investment and would be careful to not invest more of your retirement assets than you can afford to lose...

-----
Premium Home Fool: Ask me a Foolish Question, I'll give you a Foolish Response!
Ticker Guide: The Walt Disney Company (DIS), Intuit (INTU), Live Nation (LYV), CME Group (CME), MongoDB (MDB), Trip Advisor (TRIP), Vivendi SA (VIVHY), Mimecast (MIME), Virgin Galactic (SPCE), Axon Technologies (AXON), 51Jobs (JOBS)
Disclaimer: This post is non-professional and should not be construed as direct, individual or accurate advice
Disassociation: The views and statements of this post are Fuskie's and are not intended to represent those of The Motley Fool or any other sane body
Disclosure: May own shares of some, many or all of the companies mentioned in this post (tinyurl.com/FuskieDisclosure)
Fool Code of Conduct: https://www.fool.com/legal/the-motley-fools-rules.aspx#Condu...
Invitation: You are invited to interactively watch Motley Fool Live online television: https://livechat.fool.com
Call to Action: If you like this or any other post, Rec it. Better yet, reply to it. Even better, start your own thread. This is YOUR TMF Community!
Print the post Back To Top
No. of Recommendations: 0
Some financial advisors are noting that Bitcoin is a "non-correlated asset class" and should have a place in a diversified retirement portfolio.

https://www.fa-mag.com/news/unloved-60-40-strategy-needs-a-m......


And I'll bet none of those financial advisors understand the tax return complications that accompany cryptocurrency transactions.

Ira
Print the post Back To Top
No. of Recommendations: 0
And I'll bet none of those financial advisors understand the tax return complications that accompany cryptocurrency transactions.

404 error on the link so I was not able to see what they are advising.

My understanding is that cryptocurrency transactions are taxed the same way as regular stock transactions. Not so complex. An I missing something?

bclstu
Print the post Back To Top
No. of Recommendations: 5
My understanding is that cryptocurrency transactions are taxed the same way as regular stock transactions. Not so complex. An I missing something?

Yes, issues such as striking income, mining income, hard forks and air drops. Crypto transactions are FIFO unless you use specific lot identification. Crypto is much more likely to be subject to wash sale adjustments. Finally, if you purchase anything with your crypto, you are creating a capital transaction for an ordinary purchase.

The principles of how crypto currency is treated for tax purposes are similar to regular stock transactions, but the details can be quite different.
Ira
Print the post Back To Top
No. of Recommendations: 0
irasmilo writes,

The principles of how crypto currency is treated for tax purposes are similar to regular stock transactions, but the details can be quite different.
Ira

</snip>


That's very interesting. Does crypto have the same financial reporting requirements as your brokerage firm (i.e., 1099-INT, 1099-DIV, 1099-B, etc.) or are crypto speculators on the honor system?

intercst
Print the post Back To Top
No. of Recommendations: 0
Does crypto have the same financial reporting requirements as your brokerage firm

No, not yet. Coinbase Pro did not provide a 1099 last year. You can generate a spreadsheet with all transactions

bclstu.
Print the post Back To Top
No. of Recommendations: 0
Not a fan of anything crypto but:

should have a place in a diversified retirement portfolio.

...

And I'll bet none of those financial advisors understand the tax return complications that accompany cryptocurrency transactions.



I am guessing that if such is purchased in a retirement account, that the tax implications are no different that most other assets.
Print the post Back To Top
No. of Recommendations: 0
Can you hold cryto in a retirement account?
Print the post Back To Top
No. of Recommendations: 0
Can you hold cryto in a retirement account?

I don't see why not.

Old link (March)
https://www.cnbc.com/2021/03/24/fidelity-to-launch-bitcoin-e...
Print the post Back To Top
No. of Recommendations: 7
Can you hold cryto in a retirement account?

Holding and trading crypto in a retirement account is fine. But mining crypto in a retirement account can generate UBTI, because mining crypto is a business that is unrelated to your retirement account.

AJ
Print the post Back To Top
No. of Recommendations: 2
Here is a Fool article from a while back that may be of help.

https://www.fool.com/retirement/2017/10/01/is-a-bitcoin-ira-...

Fuskie
Who notes cryptocurrency remains a risky investment and would be careful to not invest more of your retirement assets than you can afford to lose...

-----
Premium Home Fool: Ask me a Foolish Question, I'll give you a Foolish Response!
Ticker Guide: The Walt Disney Company (DIS), Intuit (INTU), Live Nation (LYV), CME Group (CME), MongoDB (MDB), Trip Advisor (TRIP), Vivendi SA (VIVHY), Mimecast (MIME), Virgin Galactic (SPCE), Axon Technologies (AXON), 51Jobs (JOBS)
Disclaimer: This post is non-professional and should not be construed as direct, individual or accurate advice
Disassociation: The views and statements of this post are Fuskie's and are not intended to represent those of The Motley Fool or any other sane body
Disclosure: May own shares of some, many or all of the companies mentioned in this post (tinyurl.com/FuskieDisclosure)
Fool Code of Conduct: https://www.fool.com/legal/the-motley-fools-rules.aspx#Condu...
Invitation: You are invited to interactively watch Motley Fool Live online television: https://livechat.fool.com
Call to Action: If you like this or any other post, Rec it. Better yet, reply to it. Even better, start your own thread. This is YOUR TMF Community!
Print the post Back To Top