Gold trading income to be declared.
[Business Times 2010-01-27 Chenhuai Yu / Taipei]
International gold prices continue to rise, many people invest in gold funds transferred to the book, but it ignores this part of the proceeds are to be incorporated into the consolidated tax return, the IRS emphasized that, once received back taxes tax bill, fill after contraband, also remember to stay relevant information, because in the future if the losses can be used as deductions purposes.
North IRS said that people invest in gold, whether it is part of the gold passbook or bullion, gold bullion, gold ornaments are regarded as property transactions, once obtained, then you need at the time of the declaration of the tax consolidated to declare enumerated ways, the initiative to declare, if there is no initiative to declare, was seized by the IRS, then you have to pay an overdue tax.
This wave of overdue tax subjects, some of back taxes and tax-related investment gold passbook, the IRS said, because gold passbook transactions through financial institutions usually provide list of transactions, the IRS often this information can be obtained, honest taxpayers are taxed to the list as a reference.
