Cryptocurrency Q&A
What coins are IRS approved?
What coins are IRS approved?
IncheonBeauty
Sat Nov 09 2024
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6 answers
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I'm wondering which coins have been approved by the IRS for tax purposes. I need to know which ones are considered legitimate so I can report them accurately on my taxes.
6 answers
Giuseppe
Mon Nov 11 2024
Platinum coins must reach a purity level of 99.95%. This strict standard ensures that the coins are of the highest quality and meet the IRS's rigorous guidelines.
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KimonoGlory
Mon Nov 11 2024
The Internal Revenue Service (IRS) has approved specific purity standards for coins that qualify for certain tax benefits.
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Dario
Mon Nov 11 2024
For gold coins to be eligible, they must meet a purity standard of 99.5%. This ensures that the gold content is high enough to meet the IRS's requirements.
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Valentina
Mon Nov 11 2024
Silver coins, on the other hand, must be 99.9% pure to qualify. This standard is slightly higher than that of gold, reflecting the different properties and uses of the two metals.
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DigitalDynasty
Sun Nov 10 2024
Similarly, palladium coins must also be 99.95% pure to be considered eligible. This reflects the precious nature of both platinum and palladium and their importance in the investment world.
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