Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: John Graybill who wrote (119088)	8/31/2001 1:13:21 PM
From: yard_man	Read Replies (2) of 436258

you need to make it a donation and let him "give" you the house. The problem is that with the IRS they have an absolute yardstick -- the USD -- I'm pretty sure that legally you would be subject to cap gains on the Krugerands -- though in reality its the USD that has lost value. Suppose you bought Deutche Marks or Euros instead and the dollar went down ... You are thinking that absent the actual conversion into USD no taxable event occured? Methinks it won't work, but I am more than ready for gold to hit $375 <g>

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