CNN. Broadcasting While LGD And Umbertino Are Filling Out The Applications To Become A Guest Guru !
8-22-2017 Newshound Guru Breitling & Guest Guru Bob Everyone is asking me how the dinar is going to be taxed and there is a huge debate out there.
We’re not giving you tax strategy.
We’ll talk about that later on down the road…
[Guest Guru Bob] When I first got into this thing a decade ago there was a lot of people pulling off of a pamphlet the IRS had put out in regards to those who were traveling across the world.
Let’s say for example you bought a currency the British pound.
You traveled over there and came back and went to cash it in. For some reason there was an escalation in value.
Well if that escalation was only up to $200 in gain you didn’t report anything but if it did gain over that timeframe it would go through capital gains.
So a lot of people grabbed hold of that and said “ok this is how congress and the IRS has decided they are going to deal with the dinar.”
And that is NOT true…