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Updated 7 months ago,
- Real Estate Agent
- Raleigh, NC
- 282
- Votes |
- 237
- Posts
Gold and Real Estate ... New Legal tender laws ... Is there a play here?
This is a crazy thought, but that's mostly what pops into my head ...
This is a tax shell game question about gold and real estate in the states passing "legal tender" legislation like Louisiana (article linked).
If gold from the us mint is accepted as legal tender, is it at face value or is it based on spot price (daily gold price)?
Could I sell a piece of land in Louisiana for $840.00 paid for with $20.00 US Gold Coins (approximate value of $100k) and have the sale recorded as a $840.00 transaction as opposed to a $100,000.00 transaction?
If so then folks could sell real estate, book profits based on the value of the Gold, but log a transaction that was technically a loss (tax write off) based on the face value of the legal tender.
- Cory J Thornton