I have a Precious Metals Self Directed IRA account with a mixture of gold and silver coins and bars worth about $500k as of today and trying to decide if I should take physical possession of everything and take the sizeable tax hit (around 40% with Fed & State income taxes or around $200k..ouch!!) or take a partial distribution, say around $200k for a smaller tax hit and then take out more next year? I over 62 1/2, so there is no concern of additional penalties, just the tax hit and shock of how much PM I would eventually have to sell to cover the tax bill. Obviously, on the day I request the distribution (some or all) the SDIRA Trust Company freezes the price based on that day's spot price and then ships the items. If I take out everything now, if PM prices go up significantly, then my assumption is that there is a good chance that the growth (between now and next year when I would have to write the tax check) would help offset (partially pay for) the onerous tax bill. Also, would it be wise to take multiple distributions (even if I take out everything this year) so that there are smaller shipments of "heavy items" coming to my door. If I decide to take out some this year and more next year, should I take out more or all the silver now, the gold, or some of each? Any one have a similar dilemma? Thoughts? Any thing else that I am not considering?
None of my business but as its public thread id rob them cos theyre robbing you...40% of metals YOU own? Buy a mask take some mates u trust and u can give them a cut of the 200k and still be out on top,better they benefit them scumbag 3rd party who doesnt deserve shit all off the work youve done. Metals, physical ones belong safely in your hands protecting your wealth
Wow, what a touch. Physical in a vault or buried in the backyard makes so much sense when you read this.
