fed taxes on RV
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Thread: fed taxes on RV

  1. #1

    fed taxes on RV

    Recently I listened to Poppy tell us on a CC that the taxes on the RV would be 'capital gains' taxes. How did we get from Section 988 which tells us that the conversion of currencies is taxable as ordinary income? Help me understand please.

  2. #2
    hey there bullet,

    I don't have poppy3's direct quote from the call ... I know that he passes along to us what he is told by experts when he can, and he does have good contacts ... but I'm not sure if he was speaking of it being a done deal on the capital gains or simply relaying what is known at this time. We are in a somewhat unique circumstance and thus far there have not been any changes to the code as we know it.

    We really do not and cannot give you financial advice here at Dinar Updates. We strongly suggest that you do the homework on your end of things.

    While this isn't exactly a direct answer, I do hope it helps.

    Last edited by Mona Lisa; 01-09-2013 at 02:06 AM.
    If you think today is good, just wait til tomorrow!!

  3. #3
    Just looking for what others have discovered. I haven't found anything other than the section 988 that addresses currency exchange and that tells me we may experience ordinary income gains. Just looking for what others have found, not tax advice of course.

  4. #4
    Let's hope it's that simple!

    If you think today is good, just wait til tomorrow!!

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