There are different metals and mining instruments to trade, and tax treatment varies. They include equities, equity options, and ETFs in mining companies taxed as securities. Precious metals, bullion and coins, and physically backed precious metal ETFs, grantor trusts treated as collectibles. Regulated futures contracts for precious and industrial metals are Section 1256 contracts.
Join Robert A. Green, CPA, of GreenTraderTax.com, for this session. For background information, see Mr. Green's blog post,Tax Treatment for Precious Metals.
Green's 2021 Trader Tax Guide