Frank26  

When you go to a bank they don’t even want a receipt.  ‘Why do I need a receipt?’  In case you’re audited…Long term [tax] might be in the 20% range.  Short term might be in the 40% range.  Somewhere in that ballpark.  That’s why you need a receipt.  That’s why it’s important.  [NOTE:  Remember some gurus think dinar exchange tax will be considered ordinary income while others fell it will be capital gains…the only opinion that matter’s here is the IRS’s…Consult your tax professionals so you pay the right amount of tax for your unique situation.]