Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

Asian Metals Market Update: December-15-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold Seeker Report

Are You Ready For The Next Rally?
By: Craig Hemke

Long Term Patterns in Stocks, Gold and Crude
By: Gary Christenson

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

 
Search

GoldSeek Web

 
End of Year Reminder: Sell ETF Losses; Buy Physical Metals—No Wash Sale Rule


 -- Published: Tuesday, 5 December 2017 | Print  | Disqus 

By Jeff Clark

We know our readers invest in precious metals in various ways. One way is through ETFs. If you are one of these investors, pay taxes to the U.S., and are holding onto any positions with a loss since the time you bought, here’s a heads-up: if you act by December 31, you can capture that loss on your taxes without losing your exposure to metals.

The “wash sale” rule was designed to discourage people from selling securities at a loss simply to claim a tax benefit. Section 1091 of the U.S. Tax Code defines a “wash sale” as a transaction in which an investor sells a security at a loss, but then repurchases the same or a “substantially similar” security within 30 days (before or after the sale date).

However, in its current form, the wash sale rule only applies to “securities,” and physical precious metals are not included in the definition of “securities.” This means the rule does not apply to bullion ETF holders who sell those securities for a loss and buy physical metals within 30 days before or after their sale of the bullion ETF. While both the bullion ETF and physical metals give you exposure to the price of metals and the volatility insurance that comes with it, the investments are sufficiently different in nature that they do not trigger the wash sale rule.

So, if you have losses on any bullion-backed ETF—gold, silver, platinum or palladium—you can claim that loss on this year’s taxes if you sell it for a loss any time before December 31. But, you can immediately buy physical metals with the proceeds. (This obviously assumes the sale is not in a tax advantaged retirement account.)

There are obvious advantages to this strategy: you can not only claim the loss on your income tax return, but you are permitted to buy physical metals with the proceeds right away. Further… 

1) Precious metals prices are low. Gold and silver are one-third and two-thirds below their 2011 highs, respectively.  

It’s bargain hunting season. You can buy gold and silver at the same prices as seven years ago.

2) You can own PHYSICAL metal. Owning a tangible form of wealth not only comes with greater security than a paper form of gold, but it also carries many distinct advantages ETFs and most other investments don’t. I challenge you to glance at the list in that last link and not see how gold and silver bullion can be advantageous to you.

There aren’t many tax strategies left that can work to your advantage as an investor. But this one offers the opportunity to claim a loss and swap buy a superior product that Mike and everyone else at GoldSilver is convinced will soon be the next great financial bubble.

And you can pre-order the brand new 2018 gold Eagles and silver Eagles right now.

GoldSilver does not provide advice on any tax requirements or issues. GoldSilver does not provide tax, legal or accounting advice  Use of any information from this article or any other item on this website is for general informational purposes only and does not represent and should not be construed to be tax advice, either express or implied. GoldSilver makes no representations, warranties, or assurances, express or implied, as to the accuracy, currency or completeness of the content contain in this article or elsewhere on this website or any sites linked to this site. You are strongly encouraged to consult your own lawyer, accountant and/or investment advisor for any tax questions, advice or assistance. To the extent that any of this web site’s material concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

GoldSilver accepts no responsibility for any loss which may arise from accessing or relying on information contained in this article or elsewhere on this website. GoldSilver hereby expressly disclaims, to the fullest extent permitted by applicable law, any and all liability with respect to acts or omissions made by customers or other readers on the basis of such information.

Source: https://goldsilver.com/blog/end-of-year-reminder-sell-etf-losses-buy-physical-metalsno-wash-sale-rule/

 


| Digg This Article
 -- Published: Tuesday, 5 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.