Is Gold Taxable? The Truth About Capital Gains Taxes

Video quality	The size	Download

Information Is Gold Taxable? The Truth About Capital Gains Taxes

Title	:	Is Gold Taxable? The Truth About Capital Gains Taxes
Lasting	:	11.31
Date of publication	:
Views	:	111 rb

What about the $10,000 thing? Federal law states that businesses need to report cash payments of more than $10,000 to the IRS using a Form 8300 This has nothing to do specifically with precious metals
Comment from : 2 is 1

Good thing I could care less
Comment from : Teddy Fresh

Glad I’m a UK 🇬🇧 citizen and Gold no Capital gains
Comment from : Cam Reddish

I just noticed some coin dealers charge tax on PM's which I've never seen before until now😱
Comment from : slhines7

"collectible asset" 🥴
Comment from : slhines7

If I were to lose anything of much value in a boating accident, can I claim a capital loss and get a refund?
Comment from : Threedog

The IRS is a many headed hydra with a nasty bite
Comment from : Mark Dunbar

I used to farm The IRS is a many headed hydra with a nasty bite
Comment from : Mark Dunbar

I'm new to buying gold/platinum coins (I haven't purchased any yet), but I'm leaning towards the 1 oz's or the halfs (if I can get a good projected future profit margin on it)
Comment from : The 1 Man Show

I never met a dollar I did not try to tax the US GOVERNMENT I never met a dollar I did not first try to squander The US Government Does your stomach churn when you hear the likes of the chief resident of the crack house yell into the microphone, " Pay your fair share "
Comment from : thinker too

so Dave Ramsey might own a bunch of gold 🤣
Comment from : we wear the mask

And my neighbors wonder why I have a large boat in my yard 😋😊🤣
Comment from : Lawrence Dickman

No one ‘owes’ taxes, any more than he owes a robber his wallet brbrAnd they’re not ‘my’ taxes
Comment from : Chris Lee

What about gold nuggets
Comment from : ken wasiqi

Government is slavery and needs to be completely abolished and replaced with nothing
Comment from : Blah Blah

Not a bad video breaking it down, but there are a couple of things you didn’t directly touch You hinted at one when you said the max you can pay in taxes on gold and silver is 28 You could actually pay less than that rate if your marginal tax rate is less than 28 Which also implies that gold and silver even in long term status can be lumped into ordinary income
Comment from : Destin Lacquement

In the UK, if you own gold coins produced by the Royal Mint, they are CGT free ie Sovereign's, or Brittania's
Comment from : Graham Pearce

I would love to get a maple they just look phenomenal
Comment from : Keith Daniels

In Slovenia (Europe) gold isn't taxable! :)
Comment from : Danijel Jenko

Don't worry the IRS will be gone
Comment from : Brian Zimmerman

I gave my daughter all my gold before her first birthday in 1985 and well you know how well young kids keep track of things I doubt she knows where any of it is
Comment from : Mike Biase

If they sale more than $10,000 its taxable
Comment from : Key

That darned gold keeps falling off of every boat that I got onto 😳
Comment from : Leah C

Cheat sheet: 3215 or less troy oz gold ,sale,not required to report? 1,000 Oz silver not required to report? 1,000$ face value junk,not required to report ? Just asking
Comment from : Keith Knechg

People gotta stop storing their guns with their coins in their shitty boats
Comment from : Daesong

I swear I have the worst luck, I've had 3 or 4 boating accidents this week alone and it's not even Tuesday!
Comment from : Cheese Fries

You just pay taxes on profits If you know what ur doing u can get a g wagon and write off ur gold gainz hahaha jk
Comment from : ToxiicZombee

Bro I've crashed my boat so many times May as well call me Gilligan Cheers!
Comment from : Charlie Pouliot

the big fraud is that your marginal tax rate is Lower when you retireBS unless you didnt plan your retirement properlymine is Higher!!
Comment from : Gscop1

Offering my condolences in advance for your unfortunate boating accidentvery nice vid!
Comment from : Greg Weston

With all the unfortunate boating accidents I have with gold and guns, I may have to invest in boats Or open up a boat shop 😏
Comment from : PrincipalV

Excellent video Nice succinct explanations Thank you
Comment from : Dan Hansen

some times being taxed is the biggest crime of all
Comment from : Robert Velasquez

If you just trade silver straight to gold at a shop is that taxable?
Comment from : QuadTap

Come on guys, everyone does this You are an honest taxpayer, just like the goverment is an honest agency to serve you That's the way life is All parties should deal with it
Comment from : Smith John

But now with the (delayed one year) $600 1099-k ruleyou WILL be taxed selling And like the state I'm in, taxed to buy also Makes PM less appealing
Comment from : Lassie Farm

So if the Eagles will be taxed should I be getting the quarter oz AGE's? I'd definitely be interested in seeing an updated version of this video with the new tax laws set into place this last year Thanks
Comment from : Anxious Stacker

I just eat mine They cant tax s*** (yet)
Comment from : Planetzogg

Oh, I get it! 😉😉😉
Comment from : B R Supreme-Constitution

There's been an up tic in dirt cheap old boat sales since the posting of this video 🤣
Comment from : jakebrakebill

I traded my hours for paper brI traded my paper for gold and silver brThe IRS wants me to give them paper for my gold and silver Unfortunately all I have to give the IRS is leadbrbrIncome tax is immoral because it is a tax upon my perso: the human abilities that contribute to my effort expressed as labor to meet my needsbrbrI pay federal taxes brI pay state taxes brI pay local taxes brI buy precious metals to protect my from the irresponsibility of central banks and governments and worthlessness of their fiat currency brI pay my taxes, but don't cross the line
Comment from : FRAA888 GrindR

IRS are the biggest Crooks in the whole planet😒
Comment from : David Corona

taxation is voluntary in America ( ;
Comment from : aadrianlee

What gains lol
Comment from : Goldeeelock

Bwahaha The answer to your pop quiz 💯 My Man! It's funny, I used to, back in the day, use an e check to purchase metal Now, I only deal with online dealers that accept money orders I even went so far to create a second account (same shipping address so they could figure it out if they looked hard enough I'm sure) with the name, "Big Daddy" Big Daddy, doesn't want Big Brother or Uncle Sam in his life more than can be avoided🤣🤛💪
Comment from : Constitutional Stacker

So, we can't own gold or silver coins or bars because every year we will have to report/include it in our annual tax returns application?
Comment from : Bill Pandos

Thanks for your education I am new and learning about precious coins My sale guy representative for company that I bought , He said, “ no taxable when I sale back I can sale how much coins as I want” 😨
Comment from : C T

Here’s the thing:brbrNo matter what you pay to stack your PMs? You do have to take into consideration that there’s an accrued reasonable climate-controlled storage cost that you have to document each and every day, week, month, & year that you store those PMsbrbrMy apologies but who determines what is reasonable and what is not?brbrSome may use a $10 safe and others $1000 safe but truth be told even if you do depreciate the cost of the safes? There’s the ongoing day-to-day climate control costs and assigned “rental space” to considerbrbrMuch like the “home office deduction”
Comment from : Casmige

I didn’t loose my gold in a boating accident I lost all my firearms
Comment from : Turtle22

How do they know if I bought ant or sold? So what taxes?
Comment from : Bob Johnson

11th Commandment- Thou shall not get caughtbrThe first ten are between you and God providing you can keep your shit in one sock brThe simple method of utilizing gold and silver, is as collateral in the current financial environmentbrOr not Opinions may varybr"Keep it secret, keep it safe"-Gandalf
Comment from : DavidNefelimSlayer

Thanks for the help, 2is1 Made a direct switch to only stacking AGE's cause of this vid!
Comment from : Kendall Star

Gold bars are a collectible asset and have serial numbers brGold US coins are actually money as described in the US Constitution brYou don't pay capital gains on a dollar bill if the dollar appreciates in value Why would a gold US Coin be any different?
Comment from : Falcor The Wonder Dog

two ways to avoid Capital Gains taxbrbr1 wait till you are in a lower tax bracket as in retired and pay zero capital gains tax (totally legal)br2Do all cash deal to private party in person (Legal, not so much)
Comment from : Bob Ingalls

Yes, if you make $83,000 dollars or less, MFJ, as of 2022, you pay ZERO capital gains tax when selling your gold
Comment from : Bob Ingalls

Sooo just to be clear no one including gold selling dealer will fill out an IRS tax form reporting if cash is used ?
Comment from : Frank Montez

Render unto Caesar what is Caesars and in good time, God will deal with Caesar brAnd by the looks of current events, that day is coming soon enough
Comment from : That Guy1200

Thank you
Comment from : Achilles

Wow thanks for being my friend on my gold journey
Comment from : braindamage

That's exactly the info I was looking for 😉
Comment from : Jeremy Wilson

The IRS and Fed are criminal entities Look up The Grace Commission
Comment from : Daves ArtRoom

Yeah, don’t screw with the IRA brYou are legally deemed "GUILTY" unless you prove in COURT that the IRS is wrong Good luck
Comment from : Bill

A lot of this won't matter once they go to a digital dollar They will be able to track everything That will not be good
Comment from : Kurt S Industries

Taxes just keep stealing from people more and more each year to support their liberal spending habits
Comment from : E Man

Buy used cars!!!! NO TAX AT ALL when you buy and sell them!!! LOL
Comment from : Sic Creations

If a Gold Eagle or similar coin was bought for cash and there is no sales receipt, how is the capital gains calculated if you report the sale?
Comment from : Joe Massey

Our government is corrupt!
Comment from : Vince A

When the thugs in the government come after you, it would be best to have your ducks in a row and have paid your taxes
Comment from : AdAbA

IRS Just don't care about it unless its in the 100 0f thousands
Comment from : Dave N Japan

I just don't see it
Comment from : Dave N Japan

Gold doesn't gain value, it's fiat losing value What an ounce of gold could purchase 1000 years ago can still be roughly bought with an ounce of gold today
Comment from : alan mail

GREATTHANK YOU!!!!
Comment from : OmegaL88

So basically if you sell you pay premium and taxes and never make any money at all ever and it's a bad savings model bc of that so sell it to a junk yeard that doesn't ask for I'd for scrap price
Comment from : Domenic Brangiforte

If you are holding an asset which is only a hedge against inflation, how can the government turn around with the gall to state that you've seen 'capital gains' on something which in real terms has not increased in value at all All that happened was that the price of money dropped Taxation is an evil scam
Comment from : dleetr

Hey ! These look formiliar Mom has the small one in the middle - ( not a full ounce )
Comment from : donna slevin

Hey, do I understand correctly, that you should report taxes of the bought gold only if you are actally selling it/getting money? Great video, thanks
Comment from : E S

bI never mess with IRA and taxes (slowly winks behind camera)/b
Comment from : Pendle Lancashire

😉
Comment from : Thomas Crown

NEVER deposit ANY cash into your account As for the IRSwhat Gold????😉
Comment from : Gaming Bigfats

SIR, I REALLY LIKED YOUR VIDEO!
Comment from : Oscar Lechuga

Hilarious! Hilarious to think people would pay taxes on their gold ! Or pay taxes when giving it to children or when selling it!! Hahahahhaha NEVER! considering I buy gold from a LCS that doesn’t even charge tax! LOL HAHAHHAAH if they can just print 35 trillion and quote will cost us nothing than screw that!
Comment from : Vilham Dutch

mot until you sell them
Comment from : Lelon Furr

Amazing how the IRS, which invested NOTHING, risked NOTHING, didn’t work for even 60 seconds worth of time- towards acquiring these PM assets… Expects at least a 28 cut of any revenue you make as a result of your own efforts the IRS had NOTHING to do with Course I can’t remember purchasing any gold at any time
Comment from : Robbie Hollywood

The tax issue is something the sellers conveniently doesn't mention in all those buy gold to avoid inflation commercials you see on TV and the internet from Rosland Capitol They never mention the sell side and the tax implications or that you will be losing 28 of your profit (assuming that terrible boating accident didn't happen) You can't eat gold so it is just an investment like any other and sooner or later you are going to sell it
Comment from : scottyV1000

Hypothetically if someone bought a gold Eagle proof from the mint 20 years ago is there a record of that purchase since that someone lost the receipt?
Comment from : scottyV1000

I'm just guessing here but the government will get you in the end, and that the capital gains tax is not the biggest thing they will get you for when the lose due to inflation 'if you hold for a long period of time' is what ultimately will If a case of ketchup costs you the same in silver now as it could in the future, I would ask where is your gain?
Comment from : hasher411

6:19 Who says that gold is your gold? Wink Wink!
Comment from : hasher411

This has been very informative Glad someone didn’t duck out with “I’m not a tax expert”
Comment from : Dman330

In California coins shops, ID is required to purchase or sell, cash or credit card In other words that transaction is recorded and available for the IRS to see
Comment from : gary siegel