Are changes in value Vs home currency taxable events upon redemption? If so, how is it reported?

Answers

  • AnacapAnacap Posts: 91 Copper ✭✭
    edited January 2017
    You're only supposed to report the profits/losses in value of the gold you've exhanged for currency in your tax returns, and not when it's just standing there.

    You won't be coerced to report capital gains unless it's above your gov arbitrary threshold.
  • Tom_BaccoTom_Bacco Posts: 47 Copper ✭✭
    If your In the U.S. you will only be taxed on your "gains" IF you sell when the price of gold is higher than you when you purchased it. If you just buy like I do and igold was to increae 100X it would not matter unless you sell to load your prepaid card or withdraw to your account
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