Are there any tax implications or restrictions for using an Edward Jones SEP IRA to invest in digital assets?

1 answers

• Hammer OlesenDec 13, 2022 · 3 years ago
  Using an Edward Jones SEP IRA to invest in digital assets, such as cryptocurrencies like Bitcoin or Ethereum, can have tax implications and restrictions. The IRS treats digital assets as property, so any gains or losses from their sale or exchange may be subject to capital gains tax. It is important to note that Edward Jones or the SEP IRA custodian may have their own limitations or penalties regarding the types of digital assets that can be held within the account. It is recommended to consult with a tax professional or financial advisor to ensure compliance with tax regulations and understand the specific restrictions and implications of investing in digital assets through an Edward Jones SEP IRA.
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