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Msg  210059 of 210579  at  9/22/2019 10:17:10 AM  by

eagle76


 In response to msg 210058 by  kardnul
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Re: Capital gains on PM bullion

 actually, if you sell your physical in a manner in which your tax information is not recorded (ie, a dealer offers you $1350 for each ounce of gold and you take it cause while its not $1500, its gains since you bought it for 'less'), you can take your chances and not report the gains.   Its called 'tax avoidance' in some circles, but its one way to not be on the radar..  So if you are trying to avoid the gains tax??  Sell it off in batches less than $10,000, use different buyers.  And don't give your name, address or tax ID number, things that 'trigger' the IRS tax avoidance algorithms..     See if it works as well as those promoting Bitcoins tried to scam people who opened accounts in their own names into believing...  that their transactions would be 'invisible' and non-trackable and therefore non-taxable.   Until the IRS proved otherwise...
 
 with respect to the paying $12000 with a cashiers check to buy, while you aren't selling for gains at this point, its true, the one accepting the check doesn't have to file form what is it 8300, but the bank or institution who issued it did file the form if they followed the law.
 
the hell of it is, thanks to computers, databases, algos, even the least amount of personal information can be enough to 'get you' anymore...  even a simple name and address might be all it takes if it shows up in the ledger of a business who 'bought' gold and silver from those listed...
 
 


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Replies
Msg # Subject Author Recs Date Posted
210060 Re: Capital gains on PM bullion couplover 1 9/22/2019 1:02:53 PM
210062 Re: Capital gains on PM bullion creaturecomphort 1 9/22/2019 1:42:36 PM


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