Capital Gains Tax on Silver & Gold

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Mykie DYDSS
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#Silver #Money #PreciousMetals

[richb]

Step 1: Go to an ATM and get cash (while you still can).
Step 2: Go to an LCS and buy silver with the cash, and don't tell anybody.
Step 3: Repeat steps 1 & 2 for as long as possible.

[SuperSlavonski]

How would government know that you sell it?

[ogrbearded]

It seems to me it would be wrong if we go into hyperinflation to tell someone, "You paid $20 for that sold it for $1, 000 so you profited $980." And you reply, "Yes, but a delivery pizza cost $20 then and is now also $1, 000 so I really only broke even."

[PistolPackingPilot]

$40 for a silver eagle? Hard pass. Not when I can still buy junk silver on eBay for $1.50 over spot.

[concurringlion]

Don't sell $10, 000 at once and you'll be good.

[scttfrzzll]

I agree I'm not selling in the generation.

[cripovm]

Well, I'd argue that "this note is legal tender for all debts, public and private" is printed on every dollar currency bill for a reason. Plus, I already paid taxes on those currency notes I accumulated. I guess it depends on your state, and the way things are going, I advice for people to be very careful how they manage theire transactions. ✌️

[silverscientists]

Who's paying 40$ for silver eagle 🤔. Send them my way

[roaming_bob]

Stay under radar. Pay cash at LCS for PMs.

[sg-hunter]

Is it possible to straight up trade metals for land and not make any currency or monetary gain and not have capital gains?

[randojones]

$10, 000 is the special number when it comes to reporting to the IRS and it's not just coin dealers, banks and other financial institutions must comply as well.
Also making splitting up large transactions in order to circumvent this will trigger red flags as well. Remember you are being tracked.

[ameliahouchins]

I turned on my notifications for this channel now. I didn't realize it wasn't on. Lol

[msk]

Or seel 9999 to one place and the other 6000 at another?

[elecoloco]

One reason not to buy large silver bars. 10 oz maybe a wiser choice

[dalg]

Just sell off silver and gold a small amount at a time. That way you get to always keep some gold and silver around to sell off later.

[stephenparsons]

Maybe put your silver in a trust with a stepped up basis at current market price. Then you could could conceivably sell it for more than you paid and claim a capital loss instead of a capital gain.

[goldengun]

If you are not selling and using it as a long term hold it should still cross your mind and have thoughts on how to avoid it as u still plan to sell then many years later.

[waltyrs]

So I get the point of one not selling in the immediate so as to not to have to pay capital gains tax (for amounts sold over 10, 0000 dollars). But whether you sell in the near future or in the far future, the amount that you decided to liquidate at still has to be under the 10, 000 dollar so as not to get hit with capital gains tax correct? So whether you hold or sell in the future, wouldn't one want to liquidate ones silver in increments of under 10, 000 dollars then correct?

[LatimusChadimus]

I don't even have to watch this video to know the theme in the comments section. Never sell!