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Tax Court Rejects Aggressive IRA Investment Strategy with Coins in an LLC
The Wagner Law Group 
Feb. 1, 2022 "Ms. McNulty then took physical possession of the AE coins and placed them in a home safe with non-IRA assets ... In so doing, she relied on a statement on the LLC vendor's website that advertised that an LLC owned by an IRA could invest in AE coins, and IRA owners could hold the coins at their homes, without tax consequences or penalties so long as the coins were titled to the LLC. The LLC marketers believed they had found a proverbial tax loophole, but the Tax Court disagreed." [McNulty v. Comm'r, No. 1377-19 (T.C. Memo Nov. 18, 2021)] MORE >> |
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