I'm 59 1/2 and took possession of gold from a 401K that was rolled into a physical gold account. Is there any tax consequences now or is it when I actually sell the gold for cash? Again I am only taking possession not selling the gold.
I had a 401K from a different company and when I quit I rolled that money into gold at Rosland Capital. They have the gold in storage. Now that I am 59 1/2 I can take possession of it and not pay a storage fee. Since I am not selling the gold is there tax consequences at this time or when I sell it?
No, there will not be a tax consequence on this gold until you sell it.
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