Agent 99
User ID: 77082640 United States 09/28/2020 04:30 PM
Report Abusive Post Report Copyright Violation | Tax on Gold and Silver 1099-B IRS form [ link to www.investopedia.com (secure)] Updated Feb 16, 2020 "Reporting Requirements Tax liabilities on the sale of precious metals are not due the instant that the sale is made. Instead, sales of physical gold or silver need to be reported on Schedule D of Form 1040 on your tax return. Depending on the type of metal you are selling, Form 1099-B must be submitted to the IRS at the time of the sale, as such sales are considered income. Items that require such filing include $1,000 face value of U.S. 90% silver dimes, quarter or half dollars, and 25 or more 1-ounce Gold Maple Leaf, Gold Krugerrand, or Gold Mexican Onza coins. Gold and silver bars that are 1 kilogram or 1,000 troy ounces require the filing as well. American Gold Eagle coin sales do not require a Form 1099-B filing. The tax bill for all of these sales is due at the same time that your ordinary income tax bill is due." Last Edited by Agent 99 on 09/28/2020 04:30 PM |
AxX
User ID: 75450217 United States 09/28/2020 04:58 PM
Report Abusive Post Report Copyright Violation | Re: Tax on Gold and Silver 1099-B IRS form Not confusing at all! Energy flows where focus goes.
[25/77/19]
Rev 3:9 <-- Wonder who these guys are?
“The future’s uncertain and The End is always near!” - Jim Morrison, 1970 |
supporter
Loyal Order of the Secret Squirrels
User ID: 79427951 Philippines 09/28/2020 05:02 PM
Report Abusive Post Report Copyright Violation | Re: Tax on Gold and Silver 1099-B IRS form Absolute Bullshit. A toothless tiger Just shut those idiots down! Always Hide Your Nuts! --supporter |
Agent 99
(OP)
User ID: 77082640 United States 09/28/2020 05:33 PM
Report Abusive Post Report Copyright Violation | Re: Tax on Gold and Silver 1099-B IRS form Maybe with Trump exposing his income tax there will be some big changes to how we file? |