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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (31766)	10/25/2004 5:01:27 PM
From: Taikun	Read Replies (3) \| Respond to of 39344

Claude, I opened my GoldMoney account. The server was very busy. :))) I have some questions, maybe you know the answers: Every time you purchase GoldMoney grams is it an investment in gold and every time you sell GoldMoney grams to purchase something is it a liquidation of gold? I am asking since gold is a collectible, the maximum capital gains rate is 28%. irs.gov In addition, Americans are required to report all sales of bullion in 1oz sizes or more, particularly non-American Eagle bullion (I am sure GoldMoney holds a variety) to the IRS. If you buy more than 1oz of gold at GoldMoney since you do not know if it is 100% American Eagles (that would be a nice feature for Americans) then as you spend that more than 1oz of gold are you liquidating non-Eagle gold in excess of 1oz? If so, are you required to report to the IRS? This is not discussed on the GoldMoney website, but based on IRS regulations I am assuming: gains made in the GoldMoney account are taxable up to 28% and transactions are IRS reportable above 1oz. TIA David