Cryptocurrency Q&A
Does the government know if I sell gold?
Does the government know if I sell gold?
GangnamGlamourQueen
Wed Nov 13 2024
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7 answers
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I'm wondering if the government is aware of my gold sales. Do they keep track of such transactions or have any way of knowing when I sell gold?
7 answers
SakuraSpiritual
Fri Nov 15 2024
The precious metals in question must be included on the IRS's Reportable Items List.
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Bianca
Fri Nov 15 2024
The reporting requirements vary depending on the specific coin or bullion piece(s) sold.
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SeoulSoul
Fri Nov 15 2024
Gold dealers have specific Internal Revenue Service (IRS) obligations.
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HanRiverWave
Fri Nov 15 2024
It is crucial for dealers to stay informed about these requirements to ensure compliance.
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DigitalDragonfly
Fri Nov 15 2024
These obligations involve the filing of a 1099-B form in certain situations.
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