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COINS AND paying TAXES pls help..
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<p>[QUOTE="wesleyscott, post: 337685, member: 11968"]I don't know if this comment was directed at me or not. But, if it was, I do not appreciate the comment. Topic 409 on Capital gains and Losses, right from the IRS website, says that capital gains on coins is taxed at a MAXIMUM rate of 28%. NOT a flat 28%!! So like I said before, it could be taxed at a much lower rate than 28% (0%, 5%, 15%, 25%). It depends on many factors. </p><p> </p><p>And yes, there are many collectors who are in lower than 28% tax brackets.[/QUOTE]</p><p><br /></p>
[QUOTE="wesleyscott, post: 337685, member: 11968"]I don't know if this comment was directed at me or not. But, if it was, I do not appreciate the comment. Topic 409 on Capital gains and Losses, right from the IRS website, says that capital gains on coins is taxed at a MAXIMUM rate of 28%. NOT a flat 28%!! So like I said before, it could be taxed at a much lower rate than 28% (0%, 5%, 15%, 25%). It depends on many factors. And yes, there are many collectors who are in lower than 28% tax brackets.[/QUOTE]
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COINS AND paying TAXES pls help..
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