You can use your self-directed Roth IRA to invest in U.S. gold coins in increments of one, one-half, one-quarter, or one-tenth of an ounce, one ounce of silver coins that are minted by the U.S. Department of the Treasury, and some ingots of gold or silver, as long as the gold and silver meet IRS requirements. Alternatively, you can root some or all of the funds in your current IRA or 401(k) to purchase a Gold IRA, which is an IRA account that specifically invests in gold coins and bullion rather than mutual funds and stocks. .
In order for gold and silver coins to be held within a Roth IRA, the coins must be very pure in mineral content, not be seen as collector’s coins, and have more actual coin value than the collector’s value allows.
Gold IRAs can be traditional or Roth IRAs. However, a gold IRA can only be invested in real gold. Instead of a stock, bond or mutual fund, you are investing in an actual physical asset. Because you are using the IRA to buy real gold coins and bullion, they must be stored. Your gold is typically kept in a qualified storage facility, so you can expect to pay annual storage fees when you invest in gold. In order to withdraw your gold investment, you must follow a specific set of requirements to sell gold. As a result, you could be required to pay a seller’s fee – plus tax – when you’re ready to withdraw your investment.
If I am entitled under my divorce decree to a percentage of my ex-husband’s IRA, how can I receive the assets owed to me in my own IRA without being taxed? Will he be taxed when he makes the transfer? Will the money he has to pay in taxes
In order to have your share of the IRA assets transferred to you (i.e. in your name), you must contact your husband’s IRA depositary/trustee and provide them with a copy of the divorce decree. Be sure to ask the guardian about other documentation requirements.
Is there a limit on how much I can switch from my IRA to my Roth IRA?
There is no limit on the amount that can be converted from your Traditional IRA to the Roth IRA. As you already know, your modified adjusted gross income must be $100,000 or less and your tax return status cannot be married separately in order for you to be eligible for a Roth IRA conversion.
My spouse is the primary beneficiary of my IRA. I also have a contingent beneficiary. Can my spouse still transfer my tax-free IRA assets into his own IRA?
A spouse who is the sole primary beneficiary of an IRA can always treat the IRA like himself. The contingent beneficiary of an IRA is never taken into account unless the primary beneficiary preempts the owner of the IRA, or the primary beneficiary is exempt from assets.
