If you purchase Iraqi Dinar and the value does appreciate, are you taxed on the money that you have made? ?

Question

I know you have to pay an exchange rate, but do you have to pay federal or state tax?

Answer 1

Any "income" is taxable.  If you buy the Dinar and sell it at a profit.... the profit is taxable.

Buying the Iraqi Dinar is one of the biggest scams out there for the novice trader/investor.  You may want to know that the trading community has no interest in the Dinar..... that should tell you something!

Your investment will most likely be "dead money" for years. Worse....it will be worth less.