baymd

We still need an amendment to the Bush agreement that left out immunity for our troops on the ground for their actions. How could that have been overlooked? We could have been in a much better place if the "professionals" in the Bush administration had only done their job.

Misleading headline? I believe this says that the value of the gold will equal 35 billion dinars, therefore removing that amount of dinars from circulation.

March 24 2009 publishing date

The Strategic Framework Agreement signed by the Bush administration didn't give immunity for our troops. Would we want them to get arrested for doing their job and not have anything to fall back on? Why wasn't this put in the original agreement. The amnesty is what the current administration requiring of Afganistan if we leave any help in that country.

I think the line about resignation is translation error. I believe the cleric is saying that if he would announce his resignation he would go down in history in a positive way.

Careful. This is a 2007 tax chart.

Hancock article appeared January 19 2012 Forbes personal finance. Recycled information

ExecConsult- could you please site the ruling concerning LLC holding foreign currency and the tax implications at exchange. Thanks

Tandy, seems from your post that you have read the Iraq Official Gazette. What is the web address. I have searched for it and have not been able to find it. Thanks for the info.

This is an old segment from the news

Date is probably today 2011 2005 is probably 02/05. Read same info somewhere else. The Council and the other issues mentioned ( crisis forming the government didn't exist in 2005. Sometimes people need to really read and understand the information being relayed. I say good find.

The tax change isn't effective this year. I believe its for 2013.

Can anyone point me to where I can find a formerly pinned topic on an economist explanation of our investment? Needed to show it to another investor and can't seem to locate the very informative post. Thanks.

Should have referenced additional info on section 988 Section 988 9(e)(3) Personal Transactions "For purposes of this subsection, the term "personal transaction" means any transaction entered into by an individual" Hopefully all investments produce income. When it does it is classified as capital gain income according to IRS See IRS 10 Facts About Capital Gains and Losses FACT 1 Almost everything you own and use for personal purposes, pleasure or INVESTMENT is a capital asset.

Capital gains is either short term-held for less than 1 year taxed as ordinary income or long term-held for over 1 year taxed at maximum of 15% unless tax is allowed to expire and the rate will then be a max of 20% as I understand it If capital gains turns out to be the tax treatment for this investment having proof of purchase would help determine your holding term

Just finished printing and reading Title 26 Section 988 of the US Code of Regulations. The web site www.law.cornell.edu/uscode has a very readable form. Section 988 (e) Application to individuals (1) The preceding provisions of this section shall not apply to any section 988 transaction entered into by an individual which is a personal transaction. The "preceding provisions" would be all of the rest of section 988. We are individuals. Therefore it appears that this Section would not apply to our dinar exchange Capital gains and losses seems to be a better fit for us.

I did research on this and changed my Traditional IRA to a Roth and then purchased dinar with the Roth funds. The hard part was finding a trustee to do this for me. I finally found Entrust Freedom ,in Fort Myers Florida , and they were able to do the deal for me. Not all Entrust offices were willing to help me with this, but this office had done other investments in dinars. My understanding is that this is a new Roth account I cannot use the funds for 5 years, but that the income from a Roth is not taxed. Please verify this information yourself as I am not an accountant or investment advisor and made my decisions based on the information I could find on the topic IRS web site publication 590 has the IRA information.

This has to be an old post. Alliance formed before "last Thursday" paragraph 3 and also "agreement has been made prior to the first session of parliament" paragraph 7 first session started 2 weeks ago.

Who did you get to hold the dinar after purchase? I've not been able to find any trustee who will do that. Thanks for info

Any Roth IRA specialist out there? What if some Roth IRA funds were used to open an account in an Iraq bank, wait for RV, then convert to dollars and transfer to US bank for protection of asset. My understanding is that at withdrawal from a Roth account there is no tax. Is this true of all the funds or just the originally invested funds? If this is a probability what would the correct mechanism be?

The maximum long term capital gain tax for 2010 is 15%. The short term rate is whatever your regular income tax bracket is. Maximum income tax bracket on regular income this year is 35%. The health care bill had a provision for an tax of around 3.5% which will be applied on high earners over $250,000 for a couple or $200,000 for an individual. I believe this is an additional medicare tax and that investment income will count towards the amount taxed.