Cash in question?

[fogarty]

Do you have to have a receipt in you name when we cash in? The reason I ask the question, say I know someone who can't afford to purchase Dinar. We give them Dinar. I hope I haven't screwed up trying to help others!!

[N2DEEP]

No you dont. just when you do your taxes!!!!!

[WILLB]

my understanding is that you can just get one of those receipt books and write one for them and both keep signed copies...then you are good to go

Will

[fogarty]

Thank You!! I thought this question has been asked before. My sister-in-law picked up Dinar she had purchased and when she asked the teller if her husband could cash in, the teller told her the person who purchased it had to bring a receipt and it would have to be in his name. Thank you again for you help.

[FlintNPebbles]

Thank You!! I thought this question has been asked before. My sister-in-law picked up Dinar she had purchased and when she asked the teller if her husband could cash in, the teller told her the person who purchased it had to bring a receipt and it would have to be in his name. Thank you again for you help.

Gosh I hope not. In fact I really think the teller didn't know what they were talking about. My dh brought ours back from Iraq 7 years ago....we didn't get a receipt. Sure would hate to get to the bank and they tell me I need a receipt

[Markinsa]

Thank You!! I thought this question has been asked before. My sister-in-law picked up Dinar she had purchased and when she asked the teller if her husband could cash in, the teller told her the person who purchased it had to bring a receipt and it would have to be in his name. Thank you again for you help.

This is completely wrong. When was the last time you had to take a receipt with you when you make a cash deposit into your bank? Ummm NEVER! DINAR=CASH

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[Choppermike]

No you dont. just when you do your taxes!!!!!

More specifically - If or when you get audited. But first, there must be a determination made on whether or not it will be taxed as ordinary income (no receipts needed at all) or Capital Gains short term (less than a year) or long term (more than a year). This is the $64,000 question.

[D.A.D]

I would appreciate some clarification about the need for a reciept also ....... In the past I heard it discussed that the reason for a reciept was to keep those with ill gotten gains ..... from investing in dinar ....... thereby giving them an opportunity to launder that dirty money and make it skeaky clean and virtually untraceable??????

[easyrider]

you dont need a receipt those are your dinars. All that matters if they are legit and not fakes. Like someone mentioned you might need to show proof to your tax consultant regarding taxes.

[old timer]

question? lets say the dinar revalues at $3.00 usd per 1. dinar. so i go to the bank with a 25,000 note and lets say they charge 2% is that 2% on the 25,000 note or 75,000 i will get for it. will it be $ 500 or $1,500 thanks for any answers on this question.

Edited September 28, 2011 by old timer

[randalln]

Do you have to have a receipt in you name when we cash in? The reason I ask the question, say I know someone who can't afford to purchase Dinar. We give them Dinar. I hope I haven't screwed up trying to help others!!

Receipt, I have $500 dollars in cash in my pocket and i ant got a receipt S#!T i guess i wont be abel use it better just throw it away hahahahahahahahahahahaha

Before i get caught by the IRS for tax-aviation

question? lets say the dinar revalues at $3.00 usd per 1. dinar. so i go to the bank with a 25,000 note and lets say they charge 2% is that 2% on the 25,000 note or 75,000 i will get for it. will it be $ 500 or $1,500 thanks for any answers on this question.

it will be 500 dinar at 2% but at 3 to 1 thats $1500

It wont matter 2% is 2% before or after

[oneremedy]

I highly doubt you need a reciept. Its currency, money, not a toaster oven from Walmart. As long as the currency is REAL im sure any bank will help you out when it RVs.

Tax time, im sure you will need some type of documentation stating where you got the income from, which would be some type of deposit slip or statemnet from the bank.

JUST MY OPINION/GUESS...Im no CPA or lawyer.

[randalln]

More specifically - If or when you get audited. But first, there must be a determination made on whether or not it will be taxed as ordinary income (no receipts needed at all) or Capital Gains short term (less than a year) or long term (more than a year). This is the $64,000 question.

The reason this will not be taxed is you cant prove one way or the other that its capital gains IT WOULD HAVE TO BE IN A MONEY MARKET ACCOUNT (the IRS DONT TAKE RECEIPTS FOR CASH)if it was that easy DRUG DEALERS all over the country would have bank accounts (i.e receipt for mowing grass )hahahahahahahaha no pun intended ..........

YOU HOLD CASH PEOPLE AND A YEAR TO CASH IT IN DO IT A LITTLE AT A TIME AND DONT TELL THE IRS NOTHING

[oneremedy]

Thanks randalln!

[wpsmit]

receipts? where we're going we don't need receipts!

[old timer]

Receipt, I have $500 dollars in cash in my pocket and i ant got a receipt S#!T i guess i wont be abel use it better just throw it away hahahahahahahahahahahaha

Before i get caught by the IRS for tax-aviation

it will be 500 dinar at 2% but at 3 to 1 thats $1500

It wont matter 2% is 2% before or after

thanks randalin, i see what you mean.

[Shick]

ADAM SPELLS YOUR QUESTION OUT IMPLICITLY, IT'S FREE, READ THE BOOK. GO RV