Quote:
Originally Posted by raulus
Thanks BobC.
Under current law, collectibles are prohibited in 401ks and IRAs. See IRC Section 408(m). So Congress would have to change the statute. Based on the fiasco of having crypto in 401ks, I don't expect they'll be motivated to make any changes here.
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And exactly why I said MAYBE in the future. LOL
They do currently allow somewhat non-traditional things like precious metals to be held in IRAs, which definitely falls into Warren Buffet's non-productive asset category. That is the same category cards would fall into, non-productive assets. So you never know. if enough people start pushing it as an alternative asset for retirement account holdings, they may get Congress to okay it one day. At least it is a tangible, physical asset, unlike Bitcoin and other such completely intangible investments/assets.