How much silver can i buy without reporting?

Many investors prefer to own physical gold and silver rather than exchange-traded funds (ETFs) that invest in these precious metals. While the tax implications of owning and selling ETFs are very simple, not many people fully understand the tax implications of owning and selling physical ingots. The following describes how these investments are taxed, as well as their tax reporting requirements, cost base calculations, and ways to offset any tax liability resulting from the sale of physical gold or silver. Gold and silver bars may attract unwanted attention or require special statements for monetary instruments, but a gold necklace is, well, just another gold necklace.

It is important to be aware of potential Gold IRA scam schemes that may be targeting investors looking to diversify their portfolios with gold and silver. Call the industry-leading professionals at First National Bullion when you need advice on investing in precious metals, such as silver, gold, platinum and palladium. Physical gold or silver holds are subject to a capital gains tax equal to their marginal tax rate, up to a maximum of 28%.