Cryptocurrency Q&A
Do you pay taxes when you sell silver?
Do you pay taxes when you sell silver?
Martino
Thu Nov 07 2024
|
7 answers
1612
I am considering selling some silver and want to understand the tax implications. Specifically, I am wondering if I will have to pay taxes on the proceeds from the sale of my silver.
7 answers
BusanBeautyBloomingStar
Sat Nov 09 2024
Investments in physical gold and silver are taxable under the capital gains tax framework.
Was this helpful?
394
75
LightWaveMystic
Sat Nov 09 2024
The tax is calculated based on the profit earned from selling these precious metals.
Was this helpful?
398
21
HanbokGlamourQueenEleganceBloom
Sat Nov 09 2024
The profit is determined by subtracting the purchase price from the selling price.
Was this helpful?
284
29
Maria
Fri Nov 08 2024
This tax applies regardless of the duration for which the gold or silver was held.
Was this helpful?
80
69
benjamin_cole_nurse
Fri Nov 08 2024
Investors need to be aware of this tax implication when making decisions about buying and selling physical gold and silver.
Was this helpful?
201
96
Load 5 more related questions
