Gold taxation thoughts

Discussion of the Gold portion of the Permanent Portfolio

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Shawn Hoover
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Re: Gold taxation thoughts

Post by Shawn Hoover » Thu Mar 01, 2018 7:28 pm

sophie wrote:I can confirm that the wash sale rules don't apply. I researched IRS rules, then tax loss harvested gold Eagles through APMEX in 2013. Per the guy I talked to on the phone, they were doing a ton of those transactions at the time. I had to mail them coins and get them mailed right back though.
Thanks for confirming, sophie. Good deal.

My personal long run expectation for gold is effectively the fed’s inflation target, so I’m not concerned holding most of the allocation in my SEP IRA via Fidelity, but the ability to tax loss harvest that volatile stinker occasionally sure is enticing and may merit some shuffling eventually.
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ochotona
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Re: Gold taxation thoughts

Post by ochotona » Sat Mar 03, 2018 10:28 am

Tech, can you really transfer one physical gold IRA to a different custodian without having to liquidate?

Here is my Yelp review of Goldstar Trust.

https://www.yelp.com/biz/goldstar-trust ... y-amarillo
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Kriegsspiel
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Re: Gold taxation thoughts

Post by Kriegsspiel » Sat Mar 03, 2018 10:32 am

I've heard boating accidents are the #1 liquidator of gold in taxable accounts.
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ochotona
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Re: Gold taxation thoughts

Post by ochotona » Sat Mar 03, 2018 10:43 am

Kriegsspiel wrote:I've heard boating accidents are the #1 liquidator of gold in taxable accounts.
I had one of those. Dang, I felt so bad.
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Re: Gold taxation thoughts

Post by Kriegsspiel » Sat Mar 03, 2018 11:18 am

Fuck safe deposit boxes, my gold's in Davy Jones' Locker!
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Re: Gold taxation thoughts

Post by technovelist » Sun Mar 04, 2018 7:25 am

ochotona wrote:Tech, can you really transfer one physical gold IRA to a different custodian without having to liquidate?
I have no idea, although I don't know why that would be impossible in theory. What I liquidated was a Swiss franc annuity in a profit sharing plan.
That should have been easy but wasn't because the insurance company was totally incompetent at sending me the money even though they were already using almost identical instructions to pay my mother's annuity every quarter.
I'm still waiting for Fidelity to transfer the money from my profit sharing account to my rollover IRA, because for some reason that can't be done online. :(
ochotona wrote: Here is my Yelp review of Goldstar Trust.

https://www.yelp.com/biz/goldstar-trust ... y-amarillo
Nice! I have found them very good so far, but they are waiting for Fidelity to have the money in the right account before funding.
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Re: Gold taxation thoughts

Post by technovelist » Wed Mar 07, 2018 7:08 pm

technovelist wrote:
ochotona wrote:Tech, can you really transfer one physical gold IRA to a different custodian without having to liquidate?
I have no idea, although I don't know why that would be impossible in theory. What I liquidated was a Swiss franc annuity in a profit sharing plan.
That should have been easy but wasn't because the insurance company was totally incompetent at sending me the money even though they were already using almost identical instructions to pay my mother's annuity every quarter.
I'm still waiting for Fidelity to transfer the money from my profit sharing account to my rollover IRA, because for some reason that can't be done online. :(
ochotona wrote: Here is my Yelp review of Goldstar Trust.

https://www.yelp.com/biz/goldstar-trust ... y-amarillo
Nice! I have found them very good so far, but they are waiting for Fidelity to have the money in the right account before funding.
Ok, Fidelity has transferred part of the money and they have gotten it, so I've ordered some gold from my dealer to go into the IRA.

Interestingly enough, the premium for proof Eagles is pretty low, about 2.5%, whereas usually it's more like 15% at the bid, according to the dealer. He said he was paying $200 over gold for proofs just last year. So that's what I bought, and will continue to buy as long as they have such a low premium. How much lower can it go? Probably not much, but it can go a lot higher.
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Re: Gold taxation thoughts

Post by technovelist » Sat Mar 17, 2018 3:24 pm

technovelist wrote:
technovelist wrote:
ochotona wrote:Tech, can you really transfer one physical gold IRA to a different custodian without having to liquidate?
I have no idea, although I don't know why that would be impossible in theory. What I liquidated was a Swiss franc annuity in a profit sharing plan.
That should have been easy but wasn't because the insurance company was totally incompetent at sending me the money even though they were already using almost identical instructions to pay my mother's annuity every quarter.
I'm still waiting for Fidelity to transfer the money from my profit sharing account to my rollover IRA, because for some reason that can't be done online. :(
ochotona wrote: Here is my Yelp review of Goldstar Trust.

https://www.yelp.com/biz/goldstar-trust ... y-amarillo
Nice! I have found them very good so far, but they are waiting for Fidelity to have the money in the right account before funding.
Ok, Fidelity has transferred part of the money and they have gotten it, so I've ordered some gold from my dealer to go into the IRA.

Interestingly enough, the premium for proof Eagles is pretty low, about 2.5%, whereas usually it's more like 15% at the bid, according to the dealer. He said he was paying $200 over gold for proofs just last year. So that's what I bought, and will continue to buy as long as they have such a low premium. How much lower can it go? Probably not much, but it can go a lot higher.
The first gold purchase is now showing up in my Gold Star Trust IRA. The dealer told me that the proofs I bought were probably already in the Delaware depository, so they shouldn't take too long to show up, and it looks as though he was right.
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