CoinWorld did a write up on what gold and silver are "reportable".
http://www.coinworld.com/Articles/ViewArticle/what-coins-are-reportable
(yet another reason to buy New Liberty Dollars over any government product precious metal)
Notice that reportable is not always the same as "taxable"
If you get a legal opinion from your lawyer, follow that advice.
Generally if you have income, or a gain, the IRS will consider that taxable if over thresholds.
Topic: Hypothetical Taxation Discussions ( BTC to USD, BTC to Gold to USD, etc.) (Read 5571 times)
July 03, 2013, 07:18:47 AM
July 03, 2013, 01:37:33 AM
Bumping for interest.
June 27, 2013, 03:16:22 AM
I'm quite curious. What is the difference if I were to buy gold from amagimetals and then to USD for tax purposes compared to bitcoin to fiat?
I also have a hypothetical situation. Say I have zero proof as to how I got the bitcoin when I'm writing logging my capital gains (private chats of temporary names P2P, when bitcoin was under $10, and receiving bitcoin gifts, etc.) How problematic is it when filing tax forms on capital gains if I cannot prove my initial investment?
I also have a hypothetical situation. Say I have zero proof as to how I got the bitcoin when I'm writing logging my capital gains (private chats of temporary names P2P, when bitcoin was under $10, and receiving bitcoin gifts, etc.) How problematic is it when filing tax forms on capital gains if I cannot prove my initial investment?
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