MI HB5577

Allows taxpayers to deduct net capital gains from the sale or exchange of investment coins and bullion for tax years beginning January 1, 2024 and later.

Requires taxpayers to add back any net capital losses from the sale or exchange of investment coins and bullion that were deducted in determining adjusted gross income.

Defines "bullion" as gold, silver, or platinum in bulk form with purity of not less than 900 parts per 1,000, and "investment coins" as numismatic coins or legal tender made of precious metals issued by the U.S. or foreign government with fair market value exceeding face value.

Makes conforming amendments to Michigan's Income Tax Act of 1967 regarding how investment metals gains and losses are treated for state income tax purposes.