Exchange-traded funds backed by precious metals are considered collectibles for tax purposes. That may mean a higher tax bill on capital gains.
The capital-gains tax issue applies to investors who buy an ETF in a taxable brokerage account. But holding a precious-metal ETF in an individual retirement account sidesteps the issue.
Long-term capital gains taxes on collectibles work differently than those of stocks, bonds and other investments. Stock investors generally pay one of three tax rates on their profits — 0%, 15% and 20%, the top rate — based on their income. These rates are preferential with respect to an investor's regular income tax rates, of which there are seven .
Conversely, the capital-gains tax rate on collectibles aligns with these seven rates, up to a 28% maximum. That means an investor whose annual income puts them in the 12% tax bracket would pay a 12% tax rate on their collectibles profits; an investor in the 37% bracket would be capped at 28% on their collectibles profits.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Gold Price Fundamental Forecast: FOMC to Take Backseat to Ukraine RisksGold prices eye FOMC but the Fed may take a “wait and see” approach amid war-induced volatility and uncertainty. Bullion’s near-term direction relies upon the on-the-ground situation in Ukraine. Get your weekly gold forecast from FxWestwater here:
Leer más »
Kia EV6 review: a gold star electric vehicleKia’s new EV6 electric vehicle is a gold star EV.
Leer más »
Rodeo Review: Conroe’s Parker McCollum strikes gold with RodeoHouston debutThis year's RodeoHouston's stage has been populated by country A-listers, arena rockers and a Latin pop heartthrob. But its hometown acts who have so far filled the most seats. Conroe…
Leer más »
Bitcoin: Gold 2.0? Try Reserve Asset 3.0Given conflict in the Ukraine, is the world readying itself for a new monetary system in which bitcoin is an important piece? Maybe we are on the eve of Bretton Woods III. gckaloudis writes for this week’s Crypto Long & Short newsletter.
Leer más »
Historical Book 'Moments of Gold' Written in Honor of Tallassee High School by Alumni - Alabama NewsMemories of the old Tallassee High School building are being preserved thanks to a new book. You can get a copy, plus a brick from the old building. alnews tallassee alabamanewsnetwork
Leer más »
Gold Price Forecast: XAU/USD eyes $1,950 as the next bearish target – Confluence DetectorGold price is facing a double whammy from an improved market mood on hopes for diplomacy on the Ukraine crisis. While the expected 25 bps Fed rate hik
Leer más »