Coin Sale IRS reporting?

I'm just wondering after all our blathering if any of our posts actually were helpful to AliceZ? Ha, ha!

 

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Defined as over 25% as far as I understand with other conditions.

tax evasion
n. intentional and fraudulent attempt to escape payment of taxes in whole or in part. If proved to be intentional and not just an error ordifference of opinion, tax evasion can be a chargeable Federal crime. Evasion is distinguished from attempts to use interpretation of tax laws and/or imaginative accounting to reduce the amount of payable tax.
http://legal-dictionary.thefreedictionary.com/Tax+Evasion

http://www.forbes.com/sites/robertw...im-tax-evasion-or-fraud-timing-is-everything/

 

Coin Talk is a pretty well read site. I dare say this thread may have helped 20 people or more who have never, and will never, register as a user here. THat is why sometimes we might attempt to "more fully" answer a question.

 

You're supposed to report all sources of income. Even if you find a dollar laying on the sidewalk, legally you're supposed to report that on your taxes, but nobody would do that. Well, there might be SOME people who would, but most wouldn't.

 

I try to answer threads hoping to help the lurkers - there are hundreds of views of a thread for every reply, sometimes.

 

Good point. Fair enough.

 

7 years statute of limitations for fraud.

3 years for a normal audit

 

huh?