Questions tagged [simple ira]

Silvia Wed Jul 17 2024 | 5 answers 888

As a cryptocurrency enthusiast and investor, I'm often intrigued by new opportunities to diversify my portfolio. One question that has recently piqued my interest is the possibility of rolling over a SIMPLE IRA into a Bitcoin IRA. Could you elaborate on the feasibility of such a move? I understand that traditional IRA rollovers typically involve shifting funds from one retirement account to another, but the novelty of Bitcoin IRAs introduces an entirely new dimension. Would the tax implications be similar to a traditional IRA rollover? Are there any special considerations or limitations I should be aware of? Clarifying these points would greatly assist me in evaluating this potential investment strategy.