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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Beobe who wrote (5000)	11/17/2009 8:30:49 AM
From: Boca_PETE	1 Recommendation Respond to of 10065

Did you or anyone here read the Nov 16, 2009 Barron's article (PAge 37) "GOLD IS PRECIOUS TO THE IRS, TOO"? I was surprised to learn that the tax code treats GOLD, SILVER and precious-metals ETF's as "COLLECTIBLES", not capital gains. The article asserts "Sell them at a profit, and you could be taxed at a hefty rate". The article points out that gains on such sales DO NOT QUALIFY for the 15% long-term capital gains rate. Instead if held more than one year, such gains are taxed at the 28% tax rate, and, if held less than a year, such gains are taxed at ordinary rates based upon your tax bracket in the year of sale. Moreover, there's a pass through of ETF fund realized gains on fund sales of held metals to cover fund expenses. These rules apparently apply to the SPDR Gold Trust (GLD) which I believe Brinker has discussed on his radio show from time to time. P