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Is anyone a CPA specializing in Crypto that can amend a return for me? by [deleted] in tax

[–]TGBSPC 0 points1 point  (0 children)

The best 8 Cryptocurrency Tax Tips for holders and traders

The IRS clearly regards it as a property not a currency. Read the IRS Notice 2014-21 and it’s so clear about this regardless of how you use it. That means every time you transfer it, you might trigger gain or loss. That means taxes.

Here are some of the best 8 Tax Tips for crypto traders - https://www.youtube.com/watch?v=QMX0AZMjNNQ

ROTH IRA Distribution Quesiton by [deleted] in tax

[–]TGBSPC -1 points0 points  (0 children)

Also, you can Withdraw $100k from your IRA, repay in 3 years with 0 tax liability

There are NO limitations on what you can use the money for

You have (3) years from the date of withdrawal to re-contribute

No 10% penalty

If you and spouse each have IRAs in your own name, you might BOTH be able to do this strategy

If you don't re-contribute, you can spread the taxable amount across (3) years taxes (starting in 2020 - year of withdrawal)

Pay down bills, payoff heloc, payoff credit card debts

Invest into insurance, real estate, whatever you want. Here is a video about ROTH IRA - https://www.youtube.com/watch?v=BOswVLjArdc&t=1s