topic Tax on coins in Investors & landlords

Tax on coins

Wayneballard — Tue, 10 Feb 2026 09:16:58 GMT

Net capital gains from selling collectibles (such as coins or art) are taxed at a maximum 28% rate.
schedule D and 8949 do not segregate amounts from collectibles and other things. Everything is added together. How does irs figure 28% on coins and something less on everything else?

Re: Tax on coins

rjs — Mon, 29 Jan 2024 02:12:25 GMT

Form 8949 actually does segregate sales of collectibles. The sale of collectibles is identified on Form 8949 by putting adjustment code C in column (f) for the sale.

The sales of collectibles are totaled on the 28% Rate Gain Worksheet, and the result of that worksheet goes to Schedule D line 18. The Schedule D line 18 amount goes to the Schedule D Tax Worksheet. The calculation of the tax for the return is done on the Schedule D Tax Worksheet, which applies the appropriate percentage to each type of income.

Re: Tax on coins

Wayneballard — Mon, 29 Jan 2024 21:06:54 GMT

My understanding is collectibles are taxed at 28% regardless of your income level. My income level being very low, schedule D tax worksheet taxes my collectibles as ordinary income 11.87% in my case. I like that, but is my understanding incorrect?

Re: Tax on coins

Opus 17 — Mon, 29 Jan 2024 21:13:19 GMT

Collectibles are taxed as ordinary income, with a maximum of 28%. Your ordinary income tax rate is either 10%, 12%, 22%, 24%, or higher depending on your tax bracket. If your "blended rate" (which is not a real thing, just the average of all your taxes against all your income) is 11.something%, then most of your income is being taxed in the 12% bracket.