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Hey! I'm Carter, I'm a CPA and can help you with this.
Unfortunately, the only way to put a cryptocurency into an IRA, LLC is to first sell it, put the money into the IRA, LLC and then buy the cryptocurrency again. So, you would need to recognize the gains you had.
Huff Post ran a great article on what to do to set up the IRA, LLC and how to contribute to it. You can find that here:
Hope that helps. If you need anything else, just let me know. If not, please leave a review. Thanks!
Yes. the LLC needs to make the purchase. If it wasn't like that, anyone who had a large gain on a capital asset would just put it into an IRA LLC and avoid tax on the gain.
Correct, but it would not allow you to avoid taxes. If you transfer it to a regular LLC, then whenever you sell it, it will still be taxed at the gain that you currently have. For example, if you buy it for $100 and then transfer it to the LLC, the LLC's basis is $100. So you cannot avoid any tax that way. Same goes for the foreign LLC.