If You Sell Your Precious Metals Before Year End, Can You Declare a Loss on Your Taxes?
Frankly, we are not going to answer that question on today’s post, because it is a question that only your financial advisor or tax preparer can answer for you. There are many variables to consider – your tax bracket, your other investment gains or losses – and we are not in a position to offer that kind of advice. What we can do, however, is answer the following question . . .
Can You Fund Your IRA with Gold and Other Precious Metals?
The end of calendar year 2015 is coming up fast, and that means it’s time to think ahead about your IRA and other accounts that will figure when you file your taxes next April. Some people are wondering about putting gold and other precious metals into their IRA accounts. On first thought, that makes sense. Gold prices are low right now, after all, so you’re probably not going to sell gold soon. Why not roll your gold into your IRA and not even think about selling it now?