[via PDK] Question: A CPA told me if the currency is purchased to make money, it may be taxable. What do you think or know about that? MarkZ: …we have 2 different articles from the state department/government sites on taxes. “There are no taxes or subsidies on the purchase or sales on foreign exchange” and they mention Iraq and Vietnam. One is from 2022 and the other one is earlier. Sounds like to me there are no taxes or subsidies on the purchase or sales on foreign exchange!!! This is of course if no laws change. [Note: Consult your tax professional at the appropriate time to determine the correct tax for your unique situation. In the end the only opinion on taxes that matters is the IRS’s.]
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