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<p>[QUOTE=&quot;TopcatCoin, post: 1657780, member: 22746&quot;]It is tax season, so wanted to pose a couple of HYPOTHETICAL tax questions related to coins:</p><p><br /></p><p>1. You buy a 2-roll set of quarters from the US Mint for $32.95 + $4.95 ($37.90) and spend them for face value ($20) by feeding a parking meter outside a local bar.&nbsp; Can you claim a $17.90 ($37.90-$20.00) capital loss?</p><p><br /></p><p>2. You buy an American Silver Eagle at a coin show in 2008 for $20 cash and get no receipt. You sell it in 2012 on eBay and after fees make a profit of $10.&nbsp; How do you claim the $10 profit as a capital gain without the receipt from the original purchase?</p><p><br /></p><p>3. Your mother buys you a coin product from the US Mint as a gift.&nbsp; It is something you do not want, and she is okay with you selling it.&nbsp; You post it on CoinTalk and a member offers you $5 more than the original issue price.&nbsp; You accept and the buyer uses Paypal gift to pay for it.&nbsp; How do you claim the $5 profit as a capital gain without the receipt from the original purpose and no real record of the transaction as a sale since Paypal gift was used?</p><p><br /></p><p>So, put on your green visors and provide some quick tax advice.&nbsp; :smile TC[/QUOTE]</p><p><br /></p>

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