Taxing PM sales
Maybe if the IRS removed taxes from PM sales more people would sell and begin to relieve the supply crisis? Sounds good to me!
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What are the taxes the IRS levies on Gold sales ? TIA
Gains on collectibles held a year or less are taxed as ordinary income, with a top rate of 37%, putting them on a par with securities.
Capital Gains on Collectibles: How They Are Taxed …
Kiplinger
https://www.kiplinger.com › Taxes › Capital Gains Tax
Dec 15, 2024 — If you’ve held the collectible for over a year, you’ll be subject to a maximum tax rate of 28%. ·
Nonsense. Gold and silver coins – gold and silver eagles – are MONEY, not collectibles. I’ve never paid a tax on any U.S. precious metal currency I have bought nor sold. Not ever. I bought recently and no tax.
I never paid before either but I never sold 100k either. Ok I’ll just sell $20 per day for cash. no problem. no nonsense. It will just take longer. show me the cash.