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If you sold physical gold assets — like gold coins, for instance — the tax bill ... and the value is now $200,000, you would pay $28,000 in taxes if you held the metals for longer than 12 ...
If you want to minimize the tax you pay on the sale of gold coins, it’s best to hold on to them for at least a year and a day to take advantage of the 28% maximum tax rate.
Both Central Fund of Canada and Sprott Physical Gold have structured themselves as passive foreign investment companies, for which a U.S. taxpayer can elect qualified capital-gain treatment and ...
In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognized gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold ...
3. ETFs that own gold. If you don’t want the hassle of owning physical gold or dealing with the fast pace and margin requirements of the futures market, then a great alternative is to buy an ...
The Taxpayer Relief Act of 1997 broadened the permissible types of investments allowed in IRAs, stating: "Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U.S. gold coins, or one-ounce silver coins minted by the Treasury Department. Beginning in 1998, an IRA can invest in certain platinum coins and certain gold, silver ...
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