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The only problem here is that there's still a 30% collectibles tax on gold bullion. Unlike land and stocks (and possibly bonds depending on interest rate trends), gold is the most compact and non-taxed asset there is.
I prefer dividends, are better to manage. Have same treatment by tax as capital gain.
The only problem here is that there's still a 30% collectibles tax on gold bullion. Unlike land and stocks (and possibly bonds depending on interest rate trends), gold is the most compact and non-taxed asset there is.
Gains on collectibles held for one year or less are taxed as ordinary income—the same tax treatment as short-term capital gains (STCGs). Gains on collectibles held more than one year are taxed as ordinary income, except the maximum collectibles tax rate is 28% (Sec. 1(h)(4)). The 28% maximum collectibles tax rate is sharply higher than the 15% long-term capital gain (LTCG) rate that applies to most other assets..
REpro says
I prefer dividends, are better to manage. Have same treatment by tax as capital gain.
Wait, then why am I paying tax on these as ordinary income? I get a 1099 for them and it has to be added into gross income? No?
But what happens above $80K? I think that the federal tax is then 15% on the amount over $80K up to some very large amount like $500K.
A user says there might be a hard cutoff and that if you make $80K plus one dollar, then you pay 15% on the whole $80,001. I doubt it, but does anyone here know for sure?