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Tax Exemption for Gains on Sales of Gold and Silver Bullion.

This bill eliminates the requirement to pay capital gains tax (or deduct losses) on the sale of specific precious metal coins and bullion. This means citizens trading gold, silver, platinum, or palladium will no longer need to report these transactions for tax purposes, simplifying investment in these metals. The changes are scheduled to take effect after December 31, 2024.
Key points
Eliminates capital gains tax on the sale of gold, silver, platinum, and palladium coins and bullion.
Simplifies tax reporting requirements for individuals investing in physical precious metals.
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Expired
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Additional Information
Print number: 118_HR_8279
Sponsor: Rep. Mooney, Alexander X. [R-WV-2]
Process start date: 2024-05-07
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Monetary Metals Tax Neutrality Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8279.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-07.

What are the main provisions?

Key points include:

  • Eliminates capital gains tax on the sale of gold, silver, platinum, and palladium coins and bullion.
  • Simplifies tax reporting requirements for individuals investing in physical precious metals.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mooney, Alexander X. [R-WV-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy