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View Full Version : Is the Purchase of Gold Considered Lawful Money Redemption?



Gregory Harold
10-16-12, 05:06 PM
Hello All-
Is it feasible to categorize the purchase of gold as lawful money redemption on my tax return? Any opinions on this?
Thanks
Gregory Harold

JohnnyCash
10-16-12, 07:25 PM
No. :)
You're welcome.

David Merrill
10-17-12, 12:25 AM
I think that is correct. But when you sell it, if you demand lawful money that "income" is not taxable. Like this silver transaction (http://imageshack.us/photo/my-images/27/lawfulmoneysilvertransa.pdf).