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<p>[QUOTE=&quot;medoraman, post: 7491370, member: 26302&quot;]You are not permitted to like kind exchange from PM to another asset class. So the IRS would view this as you effectively converted to USD and back to real estate in the same transaction, and you owe LT capital gains on the price appreciation of gold. How they would catch you would be the legal change in ownership of your house. That is a public record, and they would, in an audit, ask you to prove how you paid for it.</p><p><br /></p><p>I am with you man. I HATE LT capital gain tax, since its taxing the very inflation the government causes. I wish more people understood how LT cap gain is simply WRONG. If they wanted to tax it, they should have a chart that accounted for inflation, and THEN they can tax the true gain at whatever rate they want. This is how it works:</p><p><br /></p><p>1. I make $1000</p><p>2. I have to pay Fed and State income tax, FICA and receive maybe $600.</p><p>3. I have to pay real estate tax, so say $30</p><p>4. If I go and spend this, I have to pay sales tax of 8%, so say I spend $370 on stuff so that is $30. </p><p>5. I spend $100 on gas, which between all taxes is $30</p><p>6. I finally have $100 to invest. I buy &quot;anything&quot;. I hold it for 20 years and its worth $700 now, and I have to pay LT cap gains on the fake &quot;profit&quot; of $600, (even though $100 then is not worth $100 now at all). That is another $240 in the future of taxes.</p><p><br /></p><p>So, from getting off my rear and being productive, they take $730 of the $1000 I earned, (granted some of it in the future), and certain people say we are &quot;undertaxed&quot;, and &quot;need to pay our fair share&quot;. How much blood from this turnip do they want? Sad part is I am not going into a BUNCH more taxes they levy, like sporting equipment VAT, licenses, etc. We pay MOST of our money in taxes, government takes well over half your income. Its sickening.</p><p><br /></p><p>People who support raising taxes need to understand how they are being suckered. In 1913 every politician supporting the new income tax PROMISED that &quot;only the top 1% of Americans would EVER have to file an income tax return&quot; (sound familiar?). Look it up, its true. They ALWAYS start with &quot;the rich need to pay their &quot;fair share&quot;, playing off people&#039;s envy. Then, very quickly, its &quot;not enough&quot; and we &quot;need more to pay their fair share&quot; until everyone is paying it. Over and over, rinse and repeat throughout history.[/QUOTE]</p><p><br /></p>

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