12/13/23: NFT Tax Pitfalls
Buying NFTs in your IRA could be a huge mistake taxwise. On today's podcast, Ric explains why – and names two ETFs that are a safer tax alternative when you want crypto inside your IRA.
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman · Ric Edelman
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Show Notes
Navigating the complex world of crypto taxation, this episode reveals the hidden tax pitfalls of buying NFTs within an IRA and the IRS's classification of NFTs as collectibles. In this episode, Ric highlights the potential tax consequences and penalties, urging investors to seek knowledgeable financial advice. He also introduces two crypto ETFs as safer alternatives for incorporating digital assets into IRAs.
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Links from today's show:
Year-End Tax Maneuvers for Bitcoin Holders (12/13/23 Episode): https://www.thetayf.com/blogs/this-weeks-stories/year-end-tax-maneuvers-for-bitcoin-holders
Two-hour tax course on crypto: https://dacfp.com/certificatIon/
Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (Symbol is BLKC): https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Advisor&productId=ETF-BLKC
Invesco Alerian Galaxy Crypto Economy ETF (Symbol is SATO): https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Advisor&productId=ETF-SATO
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Brought to you by:
Global X ETFs: https://www.globalxetfs.com/
Invesco QQQ: https://www.invesco.com/qqq-etf/en/home.html
Schwab: https://www.schwab.com/
Disclosure page: https://www.thetayf.com/pages/sponsorship-disclosure-fee
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