Taxes on foreign currency? 2 Answers as of November 03, 2010

I own 25000 Dinar which is roughly only 25,000 dollars. If the dinar revalued to 3 dinar to 1 dollar, my dinar then would be worth 75000 dollars. If i traded my dinar currency back to dollars what kind of taxes would I pay?

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LT Pepper Law
LT Pepper Law | Luke T. Pepper
There is no tax on currency exchange.
Answer Applies to: Pennsylvania
Replied: 11/3/2010
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