If you own gold or silver, one of the biggest and most expensive mistakes investors make is not understanding how those gains are taxed. Precious metals follow a very different set of tax rules than stocks or real estate, and getting this wrong can cost you tens of thousands of dollars.
In this video, Stephen Lee, CPA and Certified Private Wealth Advisor, explains how gold and silver are taxed, what must be reported to the IRS, and how to avoid common reporting and planning mistakes. Whether you are holding physical coins, bars, or bullion, these rules matter when you sell.
In this video, you’ll learn:
• How gold and silver are treated for tax purposes
• The difference between short-term and long-term gains on precious metals
• Why long-term gains on gold and silver can be taxed up to 28%
• When losses on gold and silver are deductible — and when they are not
• How cost basis works and why poor records can increase your tax bill
• Which tax forms apply, including Form 8949 and Schedule D
• Why not receiving a Form 1099-B does not mean the sale isn’t taxable
• How tax rules differ for investors versus precious metals dealers
Gold and silver are considered collectibles under the tax code, which means they can be taxed differently than stocks, ETFs, or real estate. Understanding these rules before you sell can make a meaningful difference in how much tax you ultimately owe.
If you are sitting on large unrealized gains or plan to sell precious metals, this is an area where tax planning actually matters.
If this video was helpful, like and subscribe for more clear, practical tax guidance. Drop your questions in the comments and they may be covered in an upcoming FAQ video.
00:00 Introduction to Taxation of Precious Metals
01:00 Who is Affected by These Tax Rules?
01:18 Capital Assets and Tax Implications
02:15 Understanding Tax Rates and Holding Periods
02:51 Calculating Cost Basis and Reporting Sales
03:51 Special Rules for Dealers
04:11 Summary and Key Takeaways
04:42 Final Thoughts
Subscribe for more tips and strategies tailored for business owners and high earning professionals.
On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.
Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.
Subscribe for smart, actionable advice — and take control of your financial future.
The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.
