If you're considering selling your home or have recently sold your home, there are possible tax consequences. The good news: much of the gain on the sale of your home may be tax exempt. Here's what you need to know:
Have you acquired gold as an investment hedge the last few years?
Watch out for a tax whammy. Gold is subject to a special long-term capital gains rate, significantly higher than the usual rate! In fact, depending on your situation, a long-term capital gain resulting from the sale of gold could trigger a tax rate almost double the rate you’re paying on your other long term gains.