Old or more recent, you are going to inherit family jewels ? How much tax you will pay to keep them ? And if you sell them ?
The jewellery are treated in a special way in the general tax Code. If you receive a box by succession, the jewelry that contains it must be included in the property taxed like other assets. The Code provides specific rules of evaluation. You can make an estimate with the help of a professional but, if the deceased had a contract of insurance against theft during the day of the death, your evaluation may not be less than that figure. It is on this basis that will be determined the inheritance tax due after application of any reductions.
The detention of jewelry value is not the subject of a tax-specific, but if you are liable for the solidarity tax on wealth (ISF), it will be necessary to mention them in your statement. To assess this, you need to proceed as in matters of succession. However, there is a subtlety. If the jewelry has more than a hundred years, and derive their value from their age and not just of the price of the stones, these are antiques to be exempt. Similarly, if your grandmother had a consistent set of designer jewelry or a given time (Art deco, for example), you would report not to the ISF because it is objects of collection also exempt.
Regime of capital gains tax on precious objects ?
If you decide to sell in ten years, you will have the choice between two systems of taxation : the capital gains on movable property, or to that of the charge on the precious objects. You are free to opt for one that you will be the most favorable. In the first, you assume a tax rate of 34.5 % on the capital gain. It corresponds to the difference between the value of the estate plus inheritance rights related thereto and the sale price. It benefits from an abatement of 5 % per year beyond the second year of ownership, where a total exemption of tax after twenty-two years. In the second regime, a tax of 6.5 % is levied on the sale price. Jewelry whose price does not exceed eur 5 000 not subject to this tax.
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