Rolling over my IRA – just hit that RMD threshold. Tax implications for my Palladium?

Andrew Roberts

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Rolling over my IRA – just hit that RMD threshold. Tax implications for my Palladium?

andrew_roberts👑Elite (1m-5m)

about 4 hours ago

Key Takeaways

•Okay, so it happened.
•Hit 73 this year, and Uncle Sam wants his piece of the pie from my traditional IRA.
•I've been pretty hands-off with it for a long time, letting it grow.

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Okay, so it happened. Hit 73 this year, and Uncle Sam wants his piece of the pie from my traditional IRA. I've been pretty hands-off with it for a long time, letting it grow. A good chunk of that, probably ~20% of my overall portfolio which sits in the low seven figures, is in physical palladium through a Gold IRA. Now that Required Minimum Distribution is kicking in, I'm trying to figure out the best way to manage it without creating a major tax headache, especially with the palladium.

My advisor here in Palm Beach has walked me through the basics, but I'm curious what others in a similar boat have experienced. Are any of you liquidating a portion of your metals directly to cover the RMD, or are you taking it from other, perhaps more liquid, parts of your IRA? I’m thinking long-term capital gains treatments vs. ordinary income when it comes to metals can get a bit hairy, and I'd prefer to minimize the tax hit if possible. The idea of selling some of my palladium for this RMD makes me cringe a bit, given its long-term potential, but I also don't want to get dinged badly on the income side.

I remember using an RMD Calculator a while back to get a clearer picture of what I’d be looking at – that tool over at goldirablueprint.com was pretty helpful for estimating. For those who've been through a few RMD cycles with a substantial metals allocation, particularly palladium or platinum, what strategies have you found most effective to navigate the tax landscape? Any unexpected pitfalls I should be aware of beyond the obvious? Really don't want to end up owing more than I need to.

3 comments

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Best Answer▲ 9 upvotes

betty_king📊Growing (50-100k)

Dude, I literally just went through this last year. Hit 73 and suddenly my palladium was screaming "RMD!" from the vault. It's a trip, right? I had similar concerns about the tax implications. Make sure you talk to a good tax advisor who specializes in precious metals IRAs. Mine saved me a headache and a half, especially with figuring out the distribution of physical assets vs. selling some to cover the RMD. Good luck!

Comments (3)

betty_king📊Growing (50-100k)•less than a minute ago

dorothy_lopez💰Established (100-250k)Real Investor•less than a minute ago

Hey, congrats on hitting 73 and having such a healthy IRA! That's awesome. I'm curious about the specific palladium holdings you mentioned. Is it physical bars/coins held directly, or is it through an ETF or some other derivative? That could definitely impact the tax talk with your advisor.

susan_clark💰Established (100-250k)Real Investor•less than a minute ago

Man, 73 already. Congrats on hitting that milestone! While everyone usually freaks about RMDs, and yeah, taxes are a drag, have you considered that this could actually be a golden (& palladium-plated) opportunity?

Instead of just thinking "tax burden," maybe view it as a forced rebalancing or even a chance to diversify *outside* your IRA. Getting some of that palladium out now means it's available for future needs without jumping through more IRA hoops, and you're taking the hit on a known amount. Just a thought to flip the script a bit!

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