Damus
Telluride profile picture
Telluride
@telluride
A lot of people are converting their traditional IRAs to Roth with a100% btc allocation.
—I mean a LOT of people are doing this. If bitcoin 100x nobody will owe tax since a Roth is pretaxed. I suspect your wife is right.
Congress can pass laws to invalidate these rules when the exploit becomes this severe.
Interesting times.
🧡🍻👊🏻

4❤️4
Tracy · 70w
I've thought about this too - and if you set up your IRA right you still have self-custody. If it comes to this and I 'owe' 40% of my savings, I'll probably take a permanent vacation out of the US before complying. And I suspect many others will do the same.
Mo · 70w
I converted at 40k BTC. Now it’s doubled. Taxes will be offset with business startup losses.