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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Gold just hit an ATH of $3922.70. I currently own 70oz of gold (actual coins/bars). Good time to sell or do you guys think gold keeps going up? [/quote]

i have been buying a few ounce of gold and a few hundred ounces of silver every year for more than two decade now. I think of it as a real roth ira. Who know what the tax rates would be or if there would even be a country in 10-15 years. But these will always be tax free and i can pass on to my children. [/quote]

How will they always be tax free?[/quote]

i buy lots of them cash from the local coin shop, no receipts and no records, xfer to children = gov never knows. [/quote]

Until they go to sell... they'd have to declare it as part of the estate to get stepped up basis, otherwise they owe tax on their entire sale. [/quote]

What are you even talking about??[/quote]

Really people? Assuming PP isn't suggesting his heirs should commit tax fraud, the only way to pass it on "tax free" as PP suggested is to declare the value as part of the estate to get the stepped up cost basis, and then sell it at or below that price in the future. If there is no step up basis or known cost basis, then they owe cap gains on the entire sale price. I guess the heirs could also just not sell it at all, but that's a big assumption.

https://www.antonlegal.com/blog/inheriting-gold-and-precious-metals-legal-issues-and-tax-implications/[/quote]

yes i am talking about committing tax fraud, scew the government for trying to tax inflation. [/quote]

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