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Author Topic: Capital Gains Tax on Precious Metals  (Read 1805 times)

Offline Mosin

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Capital Gains Tax on Precious Metals
« on: September 16, 2009, 10:55:08 AM »
Just to let you know if you didn't.

Sen. Mike Crapo of Idaho has introduced bill S.1367 on June 25th.  This bill would amend the Internal Revenue Code of 1986.  He wants to remove the Tax Reform Act of 1981.  That means that retirement plans with precious metals would have a capital gains tax on them at retirement.  Includes gold, silver, platinum, and palladium, in either coin or bar from, in the same manner as stocks and mutual funds.
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Offline FarmerRick

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Re: Capital Gains Tax on Precious Metals
« Reply #1 on: September 16, 2009, 12:10:58 PM »
Quote from: Mosin on September 16, 2009, 10:55:08 AM
Just to let you know if you didn't.

Sen. Mike Crapo of Idaho has introduced bill S.1367 on June 25th.  This bill would amend the Internal Revenue Code of 1986.  He wants to remove the Tax Reform Act of 1981.  That means that retirement plans with precious metals would have a capital gains tax on them at retirement.  Includes gold, silver, platinum, and palladium, in either coin or bar from, in the same manner as stocks and mutual funds.


Well, if the last name fits....  ::)

Yet another scheme for the .gov to get more of our money.  Will this never end?
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Offline huskergun

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Re: Capital Gains Tax on Precious Metals
« Reply #2 on: September 16, 2009, 04:03:11 PM »
No it won't until WE THE PEOPLE deside we've had enough of their s!#t.
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Offline rugermanx

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Re: Capital Gains Tax on Precious Metals
« Reply #3 on: September 16, 2009, 08:29:18 PM »
Quote from: huskergun on September 16, 2009, 04:03:11 PM
No it won't until WE THE PEOPLE deside we've had enough of their s!#t.

+ a very hearty 1

It won't stop if we continue to "Hope they Change" (yes that is a jab at the hope and change that the dems sold everyone last year) That change is going to have to originate with us and be demanded upon them.
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Offline Roper

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Re: Capital Gains Tax on Precious Metals
« Reply #4 on: September 17, 2009, 08:04:21 AM »
Aren't capital gains taxes generally less than normal taxes?  Unless you have a Roth IRA, you will pay normal income taxes on money pulled out of retirement accounts after you reach retirment age.  I am trying to understand if this is a bad thing or not - anyone a financial planner?
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Offline JimP

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Re: Capital Gains Tax on Precious Metals
« Reply #5 on: September 17, 2009, 09:04:06 AM »
I'm not financial planner..... but don't Capital Gains get taxed AGAIN when you claim thaem as income?
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