Message:

<p>[QUOTE=&quot;mikem2000, post: 1543343, member: 30574&quot;]Silver, maybe it was A misunderstanding, or maybe you had a change of heart.</p><p>The very first statement that started this was</p><p><br /></p><p>&quot;government does not take a fee to buy and sell&quot;</p><p><br /></p><p><br /></p><p>Have you changed your opinion on this?</p><p><br /></p><p>Like we said, there is capital gains fee that must be paid if selling. so there is really no way to keep it private and you specifically said sell.&nbsp; &nbsp; If you plan on never selling except in an emergency, are you now saying, you would disclose you PM holding and pay the required fee (taxes)?&nbsp; Of course if you never sell, you would not have to disclose you PM holdings, except in states that require you to pay sales tax initially.</p><p><br /></p><p>You will still need to keep records though. You see, if you were</p><p>To sell for an emergency, you would need you records to prove a cost basis, since you only owe taxes on the capital gains.&nbsp; Without records, the IRS could choose whatever they want as a cost basis and it would be ridiculously low.&nbsp; The burden of of proof would be on you, to show otherwise, or you will be paying much more tax than you may have needed to if you kept records.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in