#52273
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GeorgiaSaint
Veteran
member9

My inflationary expectations are rising.

Probably a good bet then to start stocking up on gold and/or silver. And for anyone wanting to look down the road at their options for cashing out of any silver or gold positions, there are still a handful of opportunities to legally sell your gold or silver at any recognized business such as a coin shop, without the requirement for a 1099B being created (the customer is still required by the IRS to report any gain of course). Junk silver is subject to 1099Bs in excess of $1000 FACE value, but Silver Eagles (minted as $1.00 coins) are NOT subject to any reporting requirements unless the coin or pawn shop locally requires verification of seller for crime tracking. It was created after the applicable law was written, so it was never included in the definition of what triggers a 1099B There is a handful of gold offerings as well that are not subject to 1099B reporting requirements to IRS.

https://www.jmbullion.com/reportable-bullion-transactions-infographic/

Not tryin’ to avoid taxes or cheat the gummint in any way – just providing the options that Congress created. ;-)

GS
"Ye hear of wars in far countries, and you say that there will soon be great wars in far countries, but ye know not the hearts of men in your own land."

  • This reply was modified 3 months, 1 week ago by Profile photo of GeorgiaSaint GeorgiaSaint.