I've been selling some of my PM thinking silver upswing may retreat at or around $50.00/oz and my sell price for some gold was $1,500.00 oz. I need to figure out how to move some physical PM to my ROTH IRA assuming I won't pay the $28% collectibles tax when I sell it. Can I move, on paper, some of the PM I currently own to a "mature" ROTH account? If so, how long do I have to keep it in the ROTH before selling?
This has the basics. http://www.ehow.com/how_2075705_put-gold-ira.html I don't believe you can move on paper, as it has to be in a specified type of storage, and is why many ROTH and IRA providers do not allow bullion. Since I am no longer earning a W-2 wages, I can't add to my Roth, except by converting the 401K. If you get a w-2, you could find a gold roth account provider and contribute post tax cash to them to purchase the gold. The length of time depends on age, when the roth account was established originally. I am not sure if you can get the gold out as such without converting it. I don't know the answers to that. Maybe Medoraman does. Search "Gold in Roth IRA" on google to get more articles. Jim
age, date ROTH was established comply w/ rules. No longer get a W-2. Will search Google "Gold in Roth IRA" Thanks
Yeah, same boat here. Sad that many already in their 40s don't have a Roth. One of the best retirement tools ever out of the Government. Just hope they don't retroactively change anything on us. Jim
I would not put physical PMs into a roth IRA. It completely defeats the reasons for holding physical PMs. Save those accounts for paper investments.
I agree re: the ROTH it's a terrific investment vehicle. After all of the government financial bumbling I don't think citizens would tolerate changes to the ROTH this late in the game. I'm considering sending a bunch of PM to APMEX and the potential tax bill is significant to me. I may be missing something but I don't see how putting PM in a ROTH defeats the reason for holding physical PM if I can avoid the 28% collectible tax on it when I sell.
