Question: “I don’t have any receipts of currency i bought 14 years ago…is that a problem to exchange it when the event happens?” Only in the event of an audit for taxation. The bank won’t care in the slightest when and where you got your dinar — as long as it’s valid currency. All the receipt proves is WHEN you bought your dinar — which only matters to entities like the IRS, because the tax bracket for capital gains changes depending on how LONG you’ve had the asset.
[NOTE: Some gurus feel the exchange will be capital gains, others personal income, other not taxed at all. The only opinion that matters is the IRS’s – At the appropriate time consult your tax advisor to determine the right tax for your unique circumstances.]
