Exchange Taxes

[dinariac]

Alright fellow DVers, I posted this topic about three months ago so, I'll repeat it again! Ambush's post is correct. However, it is apparant that the IRS failed to give him all the information in regards to his query! This investment is in fact a capital gains tax. But, what the IRS apparantly forgot to tell ambush was that, according to TIPRA, which is the Tax Increase Prevention and Reconciliation Act of 2005 (Passed by Congress in May 2006), If the investor is within the 10% to 15% tax bracket (according to the last filed 1040) there are no capital gains taxes for anything sold between 2008 and 2010. This RV needs to happen NOW!!! And, of course, verify this with your CPA or Tax Attorney. Why?Because it's -

RRRRRVVVVVVVV T T T T T T T T T I I I I I I I M M M M M M M E E E E E E E E E

Sorry about the location of this thread MODS. I wanted to keep it close to ambush's original post to allow easy access to the additional information.

Edited November 24, 2010 by dinariac

[FuzzyUzzy]

so if weve invested in this for over a year now its tax free???

im sorry but the government is going to tax us somehow, BUT if this is true rainbows will be pouring out of ever pore of my body when i trade in my dinars

God Bless

&

RV ALREADY!

[Draco]

There are no Capital gains, because it does not fall under cap gains. It is ordinary income. Go to tax discussion on the main page, and please read what Exec has posted about this. Take the time for yourself to do it. You make the mistake of not paying what you need to, you will pay in the end. I am not going to advise people anymore about the tax issue. Read what Exec has to say first. Take the time and read it. Then come back and say, Draco he is wrong, you need to read what we have found. And I will. Thanks

Draco

Edited November 24, 2010 by Draco

[FOUNDIT]

Draco is correct...........

[Butifldrm]

Well the TIPRA probably won't help me. Guess I will be a victim capital gains.

[ambush_gorilla]

Sounds like we all need a good tax attorney.

GO RV!!!!!!!!!!!!

[Randy Lucas]

Thanks for the Post!