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Money Girl

058 MG A Golden Nest Egg

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.61.8K Ratings

🗓️ 30 January 2008

⏱️ 5 minutes

🧾️ Download transcript

Summary

Please "Take 5" and take the listener survey in the right-hand sidebar at http://moneygirl.quickanddirtytips.com.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome to Moneygirls quick and dirty tips for a richer life.

0:09.0

Today's topic, a golden nest egg.

0:15.0

Phil in Lakewood, Colorado emailed me with this question.

0:20.0

I was listening to your archives and in episode 46 you mentioned that gains on

0:25.7

gold E.F shares held for more than a year would be taxed at the higher

0:29.9

collectibles rate of 28 percent rather than the long-term capital gains rate of 15%.

0:37.2

What would happen if I sold all my gold E.T.F shares in my traditional IRA after holding

0:42.4

for 11 months? used the proceeds to buy another

0:45.4

stock, then sold that and rotated back into EDFs. Would I be taxed at a lower rate?

0:51.0

Great question.

0:53.1

The answer to this question isn't as straightforward

0:55.8

as you might think at first.

0:57.4

In fact, finding an answer to this question

1:00.0

was a bit of a wild goose chase.

1:02.4

The IRS considers owning physical gold or

1:05.4

silver including shares of exchange-traded funds that hold gold or silver for

1:10.0

you to be the same thing as owning a collectible.

1:13.2

And you're right, Phil, the long-term capital gains rate on collectibles is 28%, not the 15%

1:20.0

that applies to stocks and other investments, which is really unfortunate.

1:24.0

The short-term capital gains rate for gold or silver E.F. shares is the same as for other investments,

1:29.6

your ordinary income tax rate.

1:32.1

These tax rates apply for shares held outside of a tax advantaged

...

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