Taking money out of retirement funds to purchase cards

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#11

09-15-2022, 09:47 PM

raulus

Nicol0 Pin.oli

Join Date: May 2022

Posts: 2,711

Quote:

Originally Posted by BobC

And then take it a step further and try to get it as a retirement account asset. To my knowledge, that would not be allowable right now, but things do seem to be changing a lot as we move forward.

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.

__________________
Trying to wrap up my master mays set, with just a few left:

1968 American Oil left side
1971 Bazooka numbered complete panel

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