Enact the Precious Metals Parity Act to modernize the tax treatment of precious metals by treating income from gold, silver, platinum, and palladium similarly to income from stocks, bonds, and foreign currencies.

Congressman Steven Horsford (NV-04), Congressman Kevin Hern (OK-01), and Congressman Nathaniel Moran (TX-01) today introduced the Precious Metals Parity Act, bipartisan legislation that modernizes the tax treatment of precious metals such as “gold, silver, platinum, and palladium by allowing income from those metals to be treated similarly to income from traditional investment assets, such as stocks, bonds, and foreign currencies, under the tax code.

Horsford introduced bipartisan legislation to change the tax code so income from precious metals is treated like income from traditional investment assets.

Horsford Introduces Bipartisan Legislation to Give Working Families More Tools to Build Financial Security | Congressman Steven Horsford
primary · press_release · model gpt-5.5

A Congress.gov legislation search for the exact title "Precious Metals Parity Act" did not surface an enacted bill or public-law record under that name.

No official congressional record was found showing the promised act was introduced or enacted under the promised title.

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Congress.gov legislation search for "Precious Metals Parity Act"
secondary · model gpt-5.5 · confidence 78%

IRS says Publication 550 covers tax treatment of investment income and gains/losses on investment property; the page lists the current revision and says recent developments are none.

The current IRS investment-income guidance remains in force with no listed recent development indicating enactment of precious-metals parity treatment.

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About Publication 550, Investment Income and Expenses
secondary · model gpt-5.5 · confidence 86%

IRS Publication 550 identifies collectibles gain as including metal such as gold, silver, and platinum bullion held more than one year, with a 28% maximum rate; other long-term gain is shown separately at 0%, 15%, or 20%.

Current IRS guidance still treats precious-metal bullion gains differently from ordinary stock/bond-style capital gains, so the promised parity has not been delivered.

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2025 Publication 550, Investment Income and Expenses
secondary · model gpt-5.5 · confidence 92%

Kiplinger reported within the lookback window that the 2025 tax law did not significantly change capital-gains taxation and that physical gold remains subject to collectible-style treatment up to 28%.

Recent tax reporting found no new enactment delivering parity for precious metals; it confirms the same non-parity treatment still applies after recent federal tax legislation.

never later_term

Ask the Tax Editor, July 3: Tax Questions for Investors
secondary · model gpt-5.5 · confidence 79%