By rl on Thu, Sep 29, 2016 - 7:53pm

US Taxes on Gold Capital Gains?

Hello all,

In the USA, what are the tax rules for capital gains on gold?

Consider the scenario,
buy gold today
hold it for a few years
the gold appreciates in value
sell the gold for more dollars than before

In Canada, our accountant tells us that when
the gold is sold, tax must be paid on the capital gains.
Only half of the capital gains is taxable.
So, given a capital gain of $1000, only $500 is taxed.

If gold was used in trade, say 1 gold coin for a suit

, ,