If I reinvest a 401k withdrawal into crypto (not ira) within 60 days, will I avoid paying taxes on it?
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1 Best answer
dmertz
Level 15
Feb 16, 2023 4:41:12 AM
If you invest the funds in anything outside of a qualified retirement account, you have not done a rollover and the 401(k) distribution will remain taxable.
4 Replies
fanfare
Level 15
Feb 16, 2023 4:33:17 AM
The 60-day period is your timeframe to get the money into another tax-deferred account. 401 k or IRA.
dmertz
Level 15
Feb 16, 2023 4:41:12 AM
If you invest the funds in anything outside of a qualified retirement account, you have not done a rollover and the 401(k) distribution will remain taxable.