one2one Posted June 27, 2019 Report Share Posted June 27, 2019 i was looking at my Iqd and only have the DeLarue certification from Dinar Trade : will that affect cashing in ? 1 Quote Link to comment Share on other sites More sharing options...
cranman Posted June 27, 2019 Report Share Posted June 27, 2019 I don't think so. The bank doesn't care when or from who bought them from. Now for tax purposes it MAY be another story. But that bridge can be crossed if and when we get there. 1 1 Quote Link to comment Share on other sites More sharing options...
64jaguar Posted June 27, 2019 Report Share Posted June 27, 2019 Been adding to my collection of notes using E-bay whereas I initially purchased the bulk of my notes through currency dealers. Lately I've preferred to add in smaller increments. Was another thread up talking about authenticity of these notes. (Think it was Synopsis), anyways I always check any new notes with a black light and look for all the security features and I've never encountered anything that appears to be a counterfeit. Although I'm sure with today's technology it may be possible to counterfeit these notes but what else could we do to authenticate them? Black light highlights the amount of the notes, Horse head watermark, Gold thread, color changing motif, what else is there short of running them through a Delarue machine? I don't think receipts will matter either way on cash in but I am keeping them regardless. 3 Quote Link to comment Share on other sites More sharing options...
KristiD Posted June 27, 2019 Report Share Posted June 27, 2019 12 hours ago, one2one said: i was looking at my Iqd and only have the DeLarue certification from Dinar Trade : will that affect cashing in ? Though I'm not a licensed tax professional, I believe the following is correct. You won't need a receipt to cash in, but if you try to claim the income as "Capital Gains" on your taxes, then it is relevant since you've owned your dinar for well over a year and you would get the lower, long term Capital Gains rate of 20% rate. This is a good thread that discusses taxes. 2 Quote Link to comment Share on other sites More sharing options...
one2one Posted June 28, 2019 Author Report Share Posted June 28, 2019 11 hours ago, KristiD said: Though I'm not a licensed tax professional, I believe the following is correct. You won't need a receipt to cash in, but if you try to claim the income as "Capital Gains" on your taxes, then it is relevant since you've owned your dinar for well over a year and you would get the lower, long term Capital Gains rate of 20% rate. This is a good thread that discusses taxes. my same old thoughts from 6 years ago---cash in for whatever--forget taxes and the bank spread bail out and head to Ecuador 1 Quote Link to comment Share on other sites More sharing options...
js214 Posted June 28, 2019 Report Share Posted June 28, 2019 15 hours ago, KristiD said: Though I'm not a licensed tax professional, I believe the following is correct. You won't need a receipt to cash in, but if you try to claim the income as "Capital Gains" on your taxes, then it is relevant since you've owned your dinar for well over a year and you would get the lower, long term Capital Gains rate of 20% rate. This is a good thread that discusses taxes. I've seen it discussed in other areas regarding this issue that if you don't have it when filing taxes you might be able to submit what is called a liars affidavit in its place. I have all my receipts and paperwork locked up with my Dinar however just because I believe more information will come out after the RV/RI. 1 Quote Link to comment Share on other sites More sharing options...
one2one Posted June 29, 2019 Author Report Share Posted June 29, 2019 i doubt if the I.R.S. has any policy regarding cashing in Iraq Dinar : are they going to single out one currency to figure out a ' Special Tax ' ? 2 2 Quote Link to comment Share on other sites More sharing options...
Sandrider Posted June 30, 2019 Report Share Posted June 30, 2019 Aren't we supposed to say "exchange" instead of "cashing in" when the time comes? I read that so many times. Maybe, I'm wrong. If so, please correct me. 😕☺️ Quote Link to comment Share on other sites More sharing options...
one2one Posted July 1, 2019 Author Report Share Posted July 1, 2019 6 hours ago, Sandrider said: Aren't we supposed to say "exchange" instead of "cashing in" when the time comes? I read that so many times. Maybe, I'm wrong. If so, please correct me. 😕☺️ top of the page : Adam's 'Cashing -in - Guide ' 1 Quote Link to comment Share on other sites More sharing options...
KristiD Posted July 2, 2019 Report Share Posted July 2, 2019 On 6/30/2019 at 5:42 PM, Sandrider said: Aren't we supposed to say "exchange" instead of "cashing in" when the time comes? I read that so many times. Maybe, I'm wrong. If so, please correct me. 😕☺️ Yes, you are correct. But cashing in is a term we've come to adopt and old habits die hard. Plus I like "cashing in" because the RV will sort of be like winning a bet for those of us who took a gamble when we bought dinar when most people thought we were foolish. So it really will be like cashing in on good bet. So I for one continue to use it even though I know it's technically not the correct term. However, when I go to the bank, I will say "exchange". 1 1 Quote Link to comment Share on other sites More sharing options...
one2one Posted July 2, 2019 Author Report Share Posted July 2, 2019 5 hours ago, KristiD said: Yes, you are correct. But cashing in is a term we've come to adopt and old habits die hard. Plus I like "cashing in" because the RV will sort of be like winning a bet for those of us who took a gamble when we bought dinar when most people thought we were foolish. So it really will be like cashing in on good bet. So I for one continue to use it even though I know it's technically not the correct term. However, when I go to the bank, I will say "exchange". correct and it applies to my theory : investing $ 3000 in hopes of making millions 1 1 Quote Link to comment Share on other sites More sharing options...
Sandrider Posted July 15, 2019 Report Share Posted July 15, 2019 When the time comes, I will be so nervous. I have yet to find a CPA or lawyer that can deal with this. Nobody seems to know what I am talking about. I will probably have to use my tax man and his company to help us out with trust funds, etc. Does anyone know the firm Edward Jones? They do investments and help people with their credit card debts etc. Thank in advance for any info. God Bless all and good luck.😓 Quote Link to comment Share on other sites More sharing options...
KristiD Posted July 16, 2019 Report Share Posted July 16, 2019 18 hours ago, Sandrider said: When the time comes, I will be so nervous. I have yet to find a CPA or lawyer that can deal with this. Nobody seems to know what I am talking about. I will probably have to use my tax man and his company to help us out with trust funds, etc. Does anyone know the firm Edward Jones? They do investments and help people with their credit card debts etc. Thank in advance for any info. God Bless all and good luck.😓 I have a little experience with them. They are a franchise operation and my opinion is that the brokers working there are not very experienced. They just follow the guidelines given to them by the corporate officie that recommend investments for the average client - tailored to match say an older, more conservative investor, versus a younger investor who may want to take more risk. They don't really work with you, they just follow what corporate tells them they should recommend. My opinion is Edward Jones is not the place for a wealthy investor. I would look for one with more experience -ask around and you'll be able to find the top attorneys in town. Then ask them to recommend the best investment advisors and see if any of them are consistently recommended by the top attorneys. And then - check them out! Verify their credentials, research for complaints and try to find reliable/unbiased recommendations. While it will be scary for all of us who were never rich - to suddenly be rich - remember there will be many professional scammers that will try to take advantage of us. YOU/WE have to take responsible for who we decide to trust - and attorneys and investment advisors are perhaps the two most critical professionals we will ever work with. Historically, it's attorneys and financial advisors who steal their clients blind - bankrupting millionaires all the time. You cannot be too careful in making your choice about them. Better to take a long time and do all you can to verify they're reputable. Don't let your fear push you into accepting anyone just because you're uncomfortable and want help right away.... it may cost you your wealth. jmo 3 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted July 16, 2019 Report Share Posted July 16, 2019 I am by far the last guy to commit on this, because I have very little understanding of the tax laws as it pertains to the dinar. Here are a couple ideas to think about. If you bought it through your bank account, CC, or similar you may be able to get a copy of the statement. Type up a letter stating that On or About this time period I bought IQD worth .......... similar to the gifting letter and get it Notarized. Just say you lost your documentation. If you are in VIP/OSI gift your dinar ASAP. Just something to think about. 1 1 1 Quote Link to comment Share on other sites More sharing options...
Sandrider Posted July 21, 2019 Report Share Posted July 21, 2019 KristiD Thank you so much for your advise. Sorry I couldn't get back to you sooner. Quote Link to comment Share on other sites More sharing options...
Sandrider Posted July 21, 2019 Report Share Posted July 21, 2019 Thank you Chuck Finley. Something to consider asap. 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted July 21, 2019 Report Share Posted July 21, 2019 2 hours ago, Sandrider said: Thank you Chuck Finley. Something to consider asap. You're welcome. We are all here to help. 1 Quote Link to comment Share on other sites More sharing options...
Markinsa Posted July 21, 2019 Report Share Posted July 21, 2019 Here is something to think about. If the DelaRue Certification you have doesn't have the serial numbers of each individual Dinar Note you have how are you going to prove the dinar you have right now was purchased with that Receipt? Who's to say, you didn't sell the dinar you purchased with that Delarue Certfication and buy more at a later date at a different price? The Delarue Certification is just fluff to make you feel good about your purchase. You need to think like a banker. If you take any foreign currency into a bank to exchange it for dollars, they are not going to care about if it has been Delarue Certified. They will run it through their own cash machine and count it and then determine its value based on the current exchange rate at that time. That's all they're going to do. 6 1 Quote Link to comment Share on other sites More sharing options...
Sage449 Posted July 21, 2019 Report Share Posted July 21, 2019 My receipts were printed on that old tape type that fades with time. I doubt they're even readable today. I keep them, but will have to see come deposit time. 2 Quote Link to comment Share on other sites More sharing options...
climber7 Posted July 21, 2019 Report Share Posted July 21, 2019 A question slightly off the side but I bought my dinar in 07 through Sterling in GA, with certification paper Anyone have any concerns regarding it or the source at that time? Thanks for replies! 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted July 21, 2019 Report Share Posted July 21, 2019 Since you are VIP, I would make sure you gift them to your IBC and get it notarized. That would at least show a date before the RV. I would agree with Markinsa, I do not have any of my receipts and I see it as no big deal. 3 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted July 21, 2019 Report Share Posted July 21, 2019 1 minute ago, climber7 said: A question slightly off the side but I bought my dinar in 07 through Sterling in GA, with certification paper Anyone have any concerns regarding it or the source at that time? Thanks for replies! I have some from there too, very little. But if there was a problem it would have been posted all over the web and here as well. No worries. 1 2 Quote Link to comment Share on other sites More sharing options...
climber7 Posted July 21, 2019 Report Share Posted July 21, 2019 (edited) 15 minutes ago, ChuckFinley said: I have some from there too, very little. But if there was a problem it would have been posted all over the web and here as well. No worries. Thanks Chuck Any other sources that are considered more legit? Edited July 21, 2019 by climber7 1 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted July 21, 2019 Report Share Posted July 21, 2019 I have not bought any in years. I used Dinar Inc, a group out of Tx that gave Mil. Discount. But they are no longer around either. Check the buy and sell Dinar tab. 1 2 Quote Link to comment Share on other sites More sharing options...
bigwave Posted July 22, 2019 Report Share Posted July 22, 2019 9 hours ago, climber7 said: Thanks Chuck Any other sources that are considered more legit? I know of Xchangeofamerica https://www.xchangeofamerica.com/buy-create-order 1 Quote Link to comment Share on other sites More sharing options...
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