Irs Section 408

Internal revenue code section 408 m individual retirement accounts m investment in collectibles treated as distributions.
Irs section 408. Any work of art any rug or antique any metal or gem with limited exceptions below any stamp or coin with limited exceptions below any alcoholic beverage or. The acquisition by an individual retirement account or by an individually directed account under a plan described in section 401 a of any. 2 special rules for purposes of subsections a 6 b 3 and d 8 of section 408 of the internal revenue code of 1986 at the election of the taxpayer at such time and in such manner as prescribed by the secretary of the treasury.
It s a little known cousin of section 401 k of the irs code. Here s what i mean. Any other tangible personal property that the irs determines is a collectible under irc section 408 m.
Individual retirement accounts on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. Internal revenue code 408. I like to call it the cheat code that unlocks investments you simply can t find on wall street.
Collectibles under irc sectioin 408 m 2 include.