If you are a gold investor who has sold at a profit this year you need to be aware that gold is considered to be a collectible, like art, and is therefore subject to higher capital gains tax rates. The rate in effect for these collectibles is 28 percent vs the 10 or 15 percent rates for other assets held for a year or more. This higher rate applies to coins and to gold-related exchange traded funds (ETFs).
The good news is that gains realized on the sale of good can be offset losses you may have realized on the sale of individual stocks or mutual funds -- but only after those losses have been netted out with gains in the same category.
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