Are there any specific tax forms I need to fill out when rolling over my IRA into digital assets?

3 answers

• rohit dwivediApr 11, 2025 · 7 months ago
  When rolling over your IRA into digital assets, you may need to fill out Form 1099-R, which reports distributions from pensions, annuities, retirement or profit-sharing plans, IRAs, and insurance contracts. Additionally, you may also need to complete Form 8606 if you made any non-deductible contributions to your IRA. It's important to consult with a tax professional or accountant to ensure you accurately complete the necessary tax forms for your specific situation.
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• Cowan KatzNov 16, 2023 · 2 years ago
  Yes, there are specific tax forms that you need to fill out when transferring your IRA into digital assets. The most common form is Form 1099-R, which is used to report distributions from retirement accounts. You may also need to complete Form 8606 if you made any non-deductible contributions to your IRA. It's always a good idea to consult with a tax advisor or accountant to ensure you comply with all tax requirements.
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• tleJun 15, 2021 · 4 years ago
  When rolling over your IRA into digital assets, it's important to be aware of the specific tax forms you may need to complete. The IRS requires you to fill out Form 1099-R to report the distribution from your IRA. Additionally, if you made any non-deductible contributions to your IRA, you'll need to complete Form 8606. It's recommended to seek guidance from a tax professional to ensure you accurately complete the necessary tax forms and comply with all tax regulations.
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