BobTheTaxMan

The facts regarding taxation on the IQD – It’s going to be ordinary income.  Meaning it doesn’t get the favored tax treatment that a capital asset would…the taxes due will be calculated by your person tax bracket and your marital status when you exchange the IQD for the USD…the maximum taxation on IQD exchange would range from about 37% for the federal and then we have California that wants to add 13% [or what your state wants] more so you’re looking at 50% you’re gonna lose… [NOTE – Consult your financial and tax professionals at the appropriate time to build the most advantageous tax and exchange plan for your unique circumstances.]