Bill Introduced in Congress to Repeal Capital Gains Taxes on Gold and Silver

Avid Investor

Source: https://schiffgold.com/key-gold-news/bill-introduced-in-congress-to-repeal-capital-gains-taxes-on-gold-and-silver/

A bill introduced in Congress would repeal capital gains taxes ongoldandsilver.

Alex Mooney (R-WV) introduced HR2284. Titled the Monetary Metals Tax Neutrality Act, the legislation would eliminate capital gains, losses and all other federal income calculations on gold, silver, platinum, and palladium bars and coins.

Related Video:

New Bill to REPEAL Taxes on Gold and Silver! by Joseph Brown

Under the current law, the IRS categorizes gold and silver bullion as capital assets and characterizes gold and silver coins as “collectibles,” subjecting them to capital gains taxes.

Under the proposed law, “no gain or loss shall be recognized on the sale or exchange of (1) gold, silver, platinum, or palladium minted and issued by the Secretary at any time or (2), refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their…

View original post 885 more words

Published by Schmitt Trading Ltd

Schmitt Trading Ltd is an international software company and develops trading robots. We want to share with you how we live our dream to become financially independent. Join us at our thrilling day-to-day adventure trip to freedom. Follow us for more information. Subscribe to our latest blog posts.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: