Are there any tax implications for holding cryptocurrencies in a Merrill Edge SEP IRA?

1 answers

• Castaneda OlsenMar 07, 2021 · 5 years ago
  Yes, there are tax implications for holding cryptocurrencies in a Merrill Edge SEP IRA. The IRS treats cryptocurrencies as property, so any gains or losses from selling or exchanging cryptocurrencies in your IRA are subject to capital gains tax. It's important to note that the tax treatment of cryptocurrencies is still evolving, and there may be additional reporting requirements for IRA accounts. It's always a good idea to consult with a tax professional to ensure compliance with current tax laws and regulations.
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