Cryptocurrency Q&A
Do I have to pay taxes when I sell gold coins?
Do I have to pay taxes when I sell gold coins?
DavidJohnson
Fri Nov 08 2024
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5
answers
1013
I'm wondering if I have to pay taxes when I sell my gold coins. I'm not sure about the tax regulations regarding the sale of gold coins and would like to know if I'm obligated to pay any taxes on the proceeds.
5 answers
Leonardo
Sun Nov 10 2024
When individuals sell their gold and realize a profit, the earnings are taxed as capital gains.
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GangnamGlitz
Sun Nov 10 2024
The taxation rate on gold profits varies based on how the gold was held.
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CosmicWave
Sun Nov 10 2024
Depending on the circumstances, sellers may be required to pay taxes at the ordinary capital gains rate.
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CryptoPioneer
Sun Nov 10 2024
Gold is recognized as an investment asset.
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DigitalLegend
Sun Nov 10 2024
Alternatively, sellers may be subject to a general rate of 28% for their gold profits.
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