If you purchased rare coins and precious metals in 2013 or earlier, and they are worth less today than what you originally paid for them, you can record a tax loss on the difference. I will buy them from you and resell them to you within 48 hours. Your new investment cost will be lower. You’ll record the tax loss this year when you do your taxes in 2014. You don’t have to wait 30 days (30 Day Wash Rule) between the selling and buying transactions like you do with stocks and bonds. Share this with a friend, or contact me before December 20th, 2013 at:
T: (818) 827 – 7152
Note: I am not a tax professional, and I strongly recommend consulting with a tax professional to make sure your personal situation is compliant with IRS rules and regulations. You can call Susan Honig, or someone with her qualifications. You may contact her at:
Susan E. Honig, CFP®, EA, CTC™
Veritana Financial Planning, Inc.
3500 W. Olive Avenue, Suite 300
Burbank, CA 91505