The IRS is cracking down on crypto asset taxes here in the US and auditing is happening more. Every TX has to be documented and taxed accordingly here in the US and it can become quite a task keeping up with the income and/or capital gains taxes depending on how long the asset is held. Also, the fines for not reporting crypto assets are hefty!
I really like the idea of a Roth IRA so that I can have that tracked, trade more (with amateur limitations) and only pay taxes on the income and not the long term gains. Especially the Roth, for those who qualify, as a way of investing in BTC and alts and minimizing TX fees and taxes?
What do you think of Bitcoin IRAs? Do you invest with an Crypto IRA? Have you thought about it? Do you have any experiences with them and with which companies?
I’d love to hear your thoughts
Continuing the discussion from Bisq Decentralized Exchange: