Comments on: Alto IRA Review: Tax-Deferred Investing in Crypto & More

By: R.J. Weiss

R.J. Weiss — Wed, 10 Aug 2022 14:00:41 +0000

In reply to Mark. To my knowledge, and with some Googling, there are no limits to how much your investments/crypto can grow inside of your IRA. Never heard of any laws that resemble that outside of crypto either.

By: Mark

Mark — Wed, 10 Aug 2022 06:16:22 +0000

Hi, I saw a review of the Coinbase Alto partnership and discussing their IRA account service. Near the bottom of the article it stated that gains for Crypto were limited to 1000% of tax free growth, beyond that amount taxes are still applied. Is this information still valid for 2022? I can not find any mention of it anywhere, except for in that article.

By: evoluntatis

evoluntatis — Mon, 01 Aug 2022 00:24:56 +0000

Does Coinbase put this in their cold storage or is the crypto rehypothecated?

By: Chuck Rittling

Chuck Rittling — Thu, 21 Apr 2022 22:11:54 +0000

In reply to R.J. Weiss. Thanks RJ!

By: R.J. Weiss

R.J. Weiss — Thu, 21 Apr 2022 21:32:34 +0000

In reply to Chuck Rittling. Coinbase holds the assets, so you're getting their security team/profile. Hacks have happened at Coinbase, but because they use both hot/cold storage and multi-sig, we can only hope there won't be any large-scale hacks at Coinbase where a large percentage of users' assets are wiped out. Coinbase does carry a significant insurance policy and has refunded assets that have been stolen in the past. Overall, no situation is perfect for securing your digital assets via Coinbase is on the safer side.

By: Chuck Rittling

Chuck Rittling — Thu, 21 Apr 2022 20:16:19 +0000

I understand that I cannot custody my own bitcoin if it is in an IRA. I’m concerned with the risk of not holding my own bitcoin. Can you provide a brief assessment of this risk (e.g. security, seizure, etc.)

By: R.J. Weiss

R.J. Weiss — Fri, 11 Feb 2022 20:59:36 +0000

In reply to Jim.

Hi Jim,

Will try to answer your question to the best of my ability. But, wasn’t 100% clear on what you’re asking. Feel free to follow up.

Alto IRA is the custodian of the account. Custodians are required by IRS for any type of self-directed IRAs. As the custodian, Alto IRA is responsible for IRS reporting. Specifically, filing forms 1099-R and 5498 on your behalf.

By: Jim

Jim — Thu, 10 Feb 2022 23:22:47 +0000

What do Alto do for tax reporting as the custodian?

By: R.J. Weiss

R.J. Weiss — Sat, 18 Dec 2021 12:35:30 +0000

My apologies for missing your comment Richard.

Just went live with our Rocket Dollar review: https://www.thewaystowealth.com/reviews/rocket-dollar-review/

Mike gave a great answer. ( :

By: mike

mike — Fri, 17 Dec 2021 23:33:02 +0000

In reply to Richard Delgado.

Hi
I see this has not been answered. If this is to be a “crypto Ira”, non taxed, then Arlo or Itrust Capital is good. Alto uses Coinbase as the platform. With just a plain ,taxed, crypto buying and selling, a seperate coinbase account, is what I use to buy and sell 24/7, If I do that. I also have an traditional IRA that has Greyscale and other crypto assets , along with blockchain assets I can invest in. Including ETF’s that have crypto companies within.