Self-Directed IRAs offer account holders an incredible amount of freedom. You have control over the asset mix. Within each asset class, you can control how much is purchased and when. You can even purchase alternative assets like real estate and IRS eligible precious metals. So where does the IRS draw the line with all of this freedom? Here are 12 things that the IRS excludes from being housed in IRAs. Alcoholic beverages (such as rare wine). Antiques. While you can't hold antiques in an IRA, you can hold shares of a limited partnership that owns antiques. Artwork. Collectible baseball cards. Some collectible coins (except gold or silver coins that meet a set of requirements detailed by the Internal Revenue Code).
Excluded are many foreign coins, such as British pounds and Mexican pesos. Included are American Eagle Bullion Coins, American Eagle Proof Coins, American Buffalo Bullion Coins, Pearl Harbor Coins, Australian Kangaroo Coins, Austrian Philharmonic Coins, and Canadian Maple Leaf Coins. Collectible comic books. Foreign assets, except American Depository Receipts, and holdings of domestic mutual funds and exchange-traded funds. Gemstones. Life insurance. Metals other than certain gold, silver, platinum, and palladium bullion coins and bars that are approved for IRA inclusion. Postage stamps. Properties that are used by the IRA account holder or their families, such as vacation homes or business offices. Real estate held in an IRA must be solely an investment. Non-liquid assets, such as collectibles and some real estate types, aren't allowed in IRAs because an ample amount of liquidity is critical when it comes to retirement assets. If too much money is tied up in non-liquid assets, there might not be enough cash flow available for required distributions. Call U.S. Money Reserve today to better understand how to add IRS approved gold and silver to your IRA. Click the link in the description to request your free Precious Metals IRA information kit.
It's full of everything you need to know about getting started on your Self-Directed Precious Metals IRA today..