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<p>[QUOTE=&quot;midas1, post: 781325, member: 21309&quot;]from:misc.taxes.moderated newsgroup</p><p><br /></p><p>Tax on Bullion Gold Sales?</p><p><br /></p><p>on Jan 7, 4:27 pm, &quot;Sam&quot; &lt;sasdfa...@lkuy.com&gt; wrote:</p><p><br /></p><p>&gt; Hi, say somebody buys ten gold coins for a total of $10,000.00 then a year</p><p>&gt; later sells them for $12,000.00. How does the sale get reported for</p><p>&gt; Federal tax purposes?</p><p><br /></p><p>It is a capital gain, reported on Schedule D, and taxed at the</p><p>collectible rate of 28% if long term, but lower if your marginal tax</p><p>rate is lower.</p><p><br /></p><p>-- </p><p>&lt;&lt; ------------------------------------------------------- &gt;&gt;</p><p>&lt;&lt; The foregoing was not intended or written to be used,&nbsp;&nbsp; &gt;&gt;</p><p>&lt;&lt; nor can it used, for the purpose of avoiding penalties&nbsp; &gt;&gt;</p><p>&lt;&lt; that may be imposed upon the taxpayer.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &gt;&gt;</p><p>&lt;&lt;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &gt;&gt;</p><p>&lt;&lt;&nbsp;&nbsp; The Charter and the Guidelines for submitting posts&nbsp;&nbsp; &gt;&gt;</p><p>&lt;&lt;&nbsp; to this newsgroup as well as our anti-spamming policy&nbsp; &gt;&gt;</p><p>&lt;&lt;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; are at <a href="http://www.asktax.org" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.asktax.org" rel="nofollow">www.asktax.org</a>.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &gt;&gt;</p><p>&lt;&lt;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; Copyright (2007) - All rights reserved.&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &gt;&gt;</p><p>&lt;&lt; ------------------------------------------------------- &gt;&gt;[/QUOTE]</p><p><br /></p>

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