IRS Clarifies When IRA Can Invest in Gold

IRS has ruled that the acquisition of shares of a trust invested in gold by an IRA or an individually directed account under a qualified retirement plan won’t be considered the acquisition of a “collectible.”

IRC Section 408(m) says that acquisition by an IRA of any collectible is treated as a distribution, and therefore gives rise to taxable income.  A collectible is any work of art, metal or gem, stamp or coin, among other things.

See PLR 201446030 for the details on this potential investment opportunity for IRA holders.