BobTheTaxMan

Let’s take an example…somebody purchased it [Iraqi dinar] for a thousand buck.  The projected value would increase to $1,000,000.  This particular investment type is treated as ordinary income.  They decide to cash it all in at once.  Here’s the result:  They have a taxable event.  They lost 37% to the feds and 13% to the state.  (That’s before the “Green Book” is applied.) That leaves them with half… $500,000…to be able to invest.   Everything that comes off that investment…is taxed again.  [NOTE Consult your financial and tax advisors at the appropriate time to build the tax and exchange plan best for your unique circumstances.]