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Thread: Is the Purchase of Gold Considered Lawful Money Redemption?

  1. 10-16-12, 05:06 PM #1
    Gregory Harold
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    Is the Purchase of Gold Considered Lawful Money Redemption?

    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
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  2. 10-16-12, 07:25 PM #2
    JohnnyCash
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    No.
    You're welcome.
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  3. 10-17-12, 12:25 AM #3
    David Merrill
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    I think that is correct. But when you sell it, if you demand lawful money that "income" is not taxable. Like this silver transaction.
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