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All Forums Category: Canadian Coins and Currency Forums Forum: Canadian Coins and Colonial Tokens

Coin Inheritance Taxable?

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pimpim
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Canada
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 Posted 07/01/2018  10:13 pm  Show Profile   Bookmark this reply Add pimpim to your friends list Get a Link to this Reply
In the logic of income tax, there is no taxes for inheritance or gift. If the gift or inheritance is a coin collection, I would estimate the value of the coin collection at the moment you received it. Then, when you sell, you must pay taxes for the amount that is over of the estimate value. That is the way I understand it.
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MrCanada
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Canada
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 Posted 08/26/2018  4:26 pm  Show Profile   Bookmark this reply Add MrCanada to your friends list Get a Link to this Reply
I have thought about this if I disposed and it was recorded I would owe the gain in value less cost . Told my kids to dispose slowly and keep quietthey deserve it lot of work in disposing.
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