Can You Move Crypto Into Your Roth IRA?

Рет қаралды 12,622

Mat Sorensen - Wealth Lawyer & Entrepreneur

Күн бұрын

Mark and Mat answer your questions about owning crypto in a Roth IRA, like: "Can you move crypto you already own to a Roth IRA?" "How do I save taxes on crypto I already own?" "If I use an IRA to own crypto, can I access my money before retirement?" and more.
The Directed IRA podcast is an educational resource provided by Directed IRA & Directed Trust Company directedira.com/.
Directed IRA has helped thousands of self-directed investors and has processed over half a billion in self-directed transactions. It is the highest-rated self-directed IRA custodian based on verified google reviews and takes pride in providing knowledgeable and helpful service to its customers.
Learn more about Crypto IRA's: directedira.com/cryptocurrency/
Self-directed accounts can be fully opened within 5 minutes using Directed’s online e-sign application. directedira.com/open-accounts/
The Self-Directed IRA Summit is an annual educational event (1 ½ days) providing live self-directed IRA education and networking and is hosted by Directed IRA. You can register for the upcoming Summit or can buy the recording of prior years at sdirasummit.com/
Mat Sorensen’s book, The Self-Directed IRA Handbook, is the number one book on self-directed IRAs and has sold over 30,000 copies. You can purchase the book and follow important updates at sdirahandbook.com/

Пікірлер: 57

@brianlee6849 Ай бұрын

What about I Trust Capital? For a Roth IRA that allows a wide range of cryptocurrency. Thank you

@promodracer2191 11 ай бұрын

Your customer service person told me i can not transfer existing crypto into an IRA.

@Powerlifting_teacher 2 жыл бұрын

Most underrated gold nugget of an informational video on investing with crypto and blending it with your retirement all ending with less or in some cases - no tax monaaaaaaay.

@TheDjSpeechless 2 жыл бұрын

I said so myself. It’s my 5th time watching today. I wanted to enjoy the wow factor, now it’s time to apply info.

@gezaatlo6739 2 ай бұрын

The cypto assets I hold aren't available in these roth ira accounts.

@A_90210 2 жыл бұрын

Why is IR S saying any interest earned on your Roth is taxable?

@ellaenchanting2122 2 жыл бұрын

In my experience Gemini wallet is the most expensive exchange to buy crypto.

@Vincent-on8bd 2 жыл бұрын

Gemini sucks. Trying to get another exchange but as a resident of New York there are few options

@rahmann4280 2 жыл бұрын

@john smith not any more

@ronmiller3020 2 жыл бұрын

This is the first time I have heard of you guys, I'm going to learn more

@MatSorensen 2 жыл бұрын

Glad to know you are enjoying our content. feel free to check all my resources www.matsorensen.com

@tvintx9741 3 жыл бұрын

I need to watch this a few more times. A lot to digest. Need to make moves fast but wise.

@CPTech92 3 жыл бұрын

What would the actual fees be in the event you took out your gains early? 10% fee on top of capital gains? Or is it a flat 10% fee and that's all?

@SageSmartSolutions 2 жыл бұрын

No cap gains. Ordinary income. Penalty is on gains.

@ANSt15 2 жыл бұрын

I love you guys. Great great great informations. Thanks.🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽

@aprilhughes8952 2 жыл бұрын

Can I use voyager with a Roth IRA?

@dashiva7069 2 жыл бұрын

You guys have some great content, thank you for doing these videos. I have a Roth IRA being managed by a company that has 10+ years of investment in it currently of stocks and mutual funds. Can I convert this to a 'Self-Directed' Roth IRA, then liquidate some of the stocks and use that already established Roth money to buy crypto?

@MatSorensen 2 жыл бұрын

Absolutely! Please set up an appointment with one of our specialist to help you get set up. directedira.com/appointment/

@germanmiranda9807 2 жыл бұрын

Hi my name is German I have an IRA, I asked my broker to change it to a Roth IRA cause I don't want to pay taxes on my crypto and he said no reason to do that, what are your thoughts on this.

@MatSorensen 2 жыл бұрын

Hey German, I would suggest chatting with one of the team members here at DIrected IRA so we can discuss strategies with you (directedira.com/contact-us/). Once you better understand what your goals are and how to achieve them, it'll be easier for you to instruct financial institutions on what you'd like to do with your money.

@fdavis3066 2 жыл бұрын

What if you lost some money from some of your Crypto? Should you wait to move it to the IRA so that you have the capital loss to help your taxes?

@coinlady5456 3 жыл бұрын

GM will be accepting btc.

@gregorystevens5173 3 жыл бұрын

I've DCA'd crypto purchases (outside of an IRA) beginning Jan 1, 2021, and because of the current bear market my portfolio is down 12% so would you say that it's wisest to wait until the market corrects and the portfolio gets back to its original basis before liquidating (at least $7k) and, then, fund a SDIRA (via backdoor Roth)? Or, do I take "advantage" of the inapplicability of the wash sale rule and harvest now?

@shmalex5777 2 жыл бұрын

Maybe sell right now as a loss you could claim that on your taxes, and then immediately buy back your exact positions within your Roth and let it grow tax free in there.

@kellykx8120 3 жыл бұрын

How do you do a backdoor crypto roth ira?

@kellykx8120 3 жыл бұрын

I'm looking all over youtube and there are no videos!! :)

@MatSorensen 2 жыл бұрын

Hi Kelly. Please set up a free appointment with one of our specialists and they can explain how to set up the backdoor crypto roth ira. directedira.com/appointment/

@mversi9262 2 жыл бұрын

how can one buy a hardware wallet for your IRA LLC?

@beckyforbis4858 2 жыл бұрын

In February 2022 I’ll be 59 1/2, is it too late to put my crypto into a Roth IRA? I have a small amount of Crypto at the moment, but.... if it moons it won’t be a small amount. I have no retirement at all, I lost everything ten years ago to a very serious medical event, so this is all that I have. Honestly, it’s my only hope to have any kind of retirement and I’m so afraid to lose it.

@MatSorensen 2 жыл бұрын

Hi Becky I'm sorry to hear that. It's never too late to open up a Roth IRA. You'll just have to wait 5 years from when you open the account to take distributions without any penalties. Please feel free to set up an appointment with one of our specialists and they'd be happy to help you get started. directedira.com/appointment

@BrandEight28 3 жыл бұрын

So if I bought bitcoin at 50k in my personal account can I withdraw it and claim the “L” then deposit into a directed crypto Ira

@MatSorensen 3 жыл бұрын

Unfortunately yes you'd have to claim the L. But remember you can only invest $6,000 ($7,000 50+) a year in an IRA. So you don't need to take out all $50K at once.

@randynatho5932 2 жыл бұрын

Can you move crypto into an IRA that you have bought previously and are holding it in a hard wallet ledger

@MatSorensen 2 жыл бұрын

Hi Randy. Unfortunately no. You would have to sell it to cash and transfer the cash amount to your IRA up to $6,000 or over 50 you can do $7,000 a year. If you'd like you can set up a free appointment with one of our Crypto experts today and go through your options directedira.com/appointment/. Thanks for watching.

@teamRATIO 2 жыл бұрын

is there a promo code available for new users?

@FreeComputerTutor 3 жыл бұрын

I trade new coins on Uniswap. This means I send ETH from my Coinbase wallet to a Metamask wallet to do the trading on Uniswap exchange, then I send the ETH back to Coinbase wallet. Is it ok to use multiple wallets like this and trade on Uniswap exchange in a SDIRA/LLC?

@MatSorensen 3 жыл бұрын

Yes it is.

@optionsdegen8653 10 ай бұрын

Can you move decentralized wallets like Metamask or Zelcore wallet into the Roth?@@MatSorensen

@mo-gee7151 2 жыл бұрын

If I am on SSDI can I invest that and more into a Crypto IRA without IRS issues? I Receive a Federal Pension, Veterans Disability and SSDI. I am 50 years old.

@MatSorensen 2 жыл бұрын

If you continue to work part time while getting benefits, you are eligible to invest Social Security Disability in a Roth IRA as long as you meet the other qualifications. Disability benefits do not count as earned income, so you will need to work a job in addition to drawing monthly disability to contribute to this type of retirement account.

@mo-gee7151 2 жыл бұрын

Thank you. And my wife must have her own without me involved I assume?

@davidwilkin7102 2 жыл бұрын

Please don't go overboard with being cute!

@uncorryptobull9543 2 жыл бұрын

Could I sell my crypto to my Roth IRA owned LLC's crypto wallet?

@MatSorensen 2 жыл бұрын

Unfortunately no. IRA LLCs have to be retirement money. So you could sell some of your crypto and do your maximum contribution each year of $6,000 ($7,000 over 50).

@SageSmartSolutions 2 жыл бұрын

When you pay the piper, that’s a different piper than the Pied Piper.

@sheriwalters9797 2 жыл бұрын

can i open a roth for an 89 year old man?

@MatSorensen 2 жыл бұрын

If he still has earned income you can.

@elviacarrillo4314 2 жыл бұрын

For al the back and forth you two go on, it would be better if only one person does the video. Time is money, we ain’t have time for that.

@disciple1010 2 жыл бұрын

After I read the books , can I do everything myself without having to pay a bunch of fee like $295 a year and extra $50 to open account. How about don’t buy the book and go to directly to a company?

@MatSorensen 2 жыл бұрын

You still need a custodian to self-direct your retirement accounts. Thanks for reading my book!

@sanemonk1 2 жыл бұрын

@@MatSorensen what is the role of custodian mat?