Proof of Purchase & Taxes

[Hitman07]

Hello all, I am a newbie to this forum but have been invested in dinar for about two years now. I have the understanding that there is going to be a hugh tax difference depending on when you bought your dinar and alot of people have receipts for their purchases, however, there are also alot of people including myself that bought from U.S. Military finance offices on various bases in Iraq. The military would not give any type of proof of purchase. The only proof is the Log that they filled out and we had to sign. My question is, does anyone know if there is any way to access that info for proof of purchase or are we just screwed and end up paying the higher tax rate ????

[cisole]

Capital gains taxes FTL!

[karinaa]

I was wondering the same thing, Ive been invested in the Dinar for 4+ years now, and I dont have any proof of purchase.

and I REALLLLLLY don't want to have to give almost half of my money to the man when I invested everything I had into this.

I would really appreciate some insight on the topic.

Thanks and GO RV!

-karinaa

[Kanga]

Okay, here is the scoop.

Go to tax forum and read everything written by Eexecouncil. This will be interesting read for all. He orginally argues that the IRS will tax at ordinary income tax level. Due to interprataion of Section 988 of the tax code.

He just spent many hours (my guess over 100 hours) writing about a 3 or 4 page brief requesting that the IRS does a fast track responce to his argument that the gains should be taxed at capital gain rates. Get with a good to great CPA and let them figure it out, but I would point them to Execoncil briefs. If the CPA says you owe less taxes than the max you might owe, then place the rest in an intererest baring account so you will haveit if you need it.

[turner561]

Kanga is right on. Do a search for "exec consult" and you will find a wealth of information

[karinaa]

I was reading his stuff earlier.

I cant explain how thankful I am for the users on this website.

Thanks so much!