Knocking on the legislative door for the eighth consecutive year is a new bill seeking to treat coins or bars composed of silver, gold, platinum and palladium in the "same manner as equities and mutual funds for purposes of the maximum capital gains rate for individuals."
Gains from the sale of collectibles held for more than one year are taxed at a rate of 28 percent. (Collectibles include coins, stamps, coins, antiques, art, and gems.) The level is significantly higher than the maximum 15 percent capital gains rate for other long-term investments, like stock and bond holdings.
The bill, named the Fair Treatment for Precious Metals Investors Act, S. 1367, was introduced by Sen. Michael Crapo [R-ID], who also brought forward the measure in the prior 110th Congress, and Senators John Ensign [R-NV], Harry Harry [D-NV], and James Risch [R-ID]...
Full Article: Bill for Precious Metals Investors, Taxes - CoinNews
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