Selling gold is a quick way to make profits, but like a majority of transactions, the gold you sell for cash has taxes involved. Tax laws vary each year, but having a basic overview will help you understand what you need to pay and how you can get the most out of your cash for gold transactions. Do You Have To Pay Taxes When You Sell Gold For Cash? Yes. Gold is considered an asset by the IRS and you must pay taxes on any profits you made from the gold.
4 February 2021