Gold Is Precious to the IRS, Too

Gold and silver receive special treatment in the tax code. Considered collectibles, not capital assets, they don’t qualify for the maximum 15% tax rate on long-term capital gains. Instead, gains on the sale of gold and silver investments, including gold- and silver-backed ETFs, and gold bullion and coins (except certain U.S.-issued coins), are taxed at a maximum rate of 28% when such investments have been held for more than a year. When these assets are held for less than one year, gains are taxed as ordinary income.

See more here on how Gold and Silver investments are taxed in the USA. Barrons by subscription. Click here.

This entry was posted on 14. November 2009 at 16:47 and is filed under Taxation, Precious Metals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.