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<p>[QUOTE=&quot;DavidinCA, post: 1331211, member: 34905&quot;]Actually I&#039;m talking about the following reporting requirements I&#039;ve found on the Internet:</p><p><br /></p><p>[TABLE=&quot;width: 375&quot;]</p><p>[TR]</p><p>[TD=&quot;width: 100&quot;]Type</p><p>[/TD]</p><p>[TD=&quot;width: 220&quot;]Minumum Fineness</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]Gold Bars</p><p>[/TD]</p><p>[TD]0.995</p><p>[/TD]</p><p>[TD]Any size bars totaling 1 kilogram (32.15 troy oz.) or more</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]Silver Bars</p><p>[/TD]</p><p>[TD]0.999</p><p>[/TD]</p><p>[TD]Any size bars totaling 1,000 troy oz. or more</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]Platinum Bars</p><p>[/TD]</p><p>[TD]0.9995</p><p>[/TD]</p><p>[TD]Any size bars totaling 25 troy oz. or more</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]Palladium Bars</p><p>[/TD]</p><p>[TD]0.9995</p><p>[/TD]</p><p>[TD]Any size bars totaling 100 troy oz. or more</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]1 oz. Gold Maple Leaf</p><p>[/TD]</p><p>[TD]as minted</p><p>[/TD]</p><p>[TD]25 1-oz. coins</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]1 oz. Gold Krugerrand</p><p>[/TD]</p><p>[TD]as minted</p><p>[/TD]</p><p>[TD]25 1-oz. coins</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]1 oz. Gold Mexican Onza</p><p>[/TD]</p><p>[TD]as minted</p><p>[/TD]</p><p>[TD]25 1-oz. coins</p><p>[/TD]</p><p>[/TR]</p><p>[TR]</p><p>[TD]US 90% Silver Coins</p><p>[/TD]</p><p>[TD]as minted</p><p>[/TD]</p><p>[TD]Any combination of dimes, quarters, or half dollars totaling&nbsp;&nbsp; $1,000 face value or more</p><p>[/TD]</p><p>[/TR]</p><p>[/TABLE]</p><p><br /></p><p><br /></p><p><br /></p><p>If an item is not on this list, sales of it does not need a Form 1099-B to be filed, no matter how large the quantity!</p><p><br /></p><p>According to some Internet sites, the health care legislation changes the $1,000 face value reporting requirement to $600.&nbsp; Don&#039;t know if that&#039;s true.</p><p><br /></p><p>My point is not to avoid taxes, but to work within the law.&nbsp; If there is no reporting requirement of small purchases, then no one knows anything except the possibilty that someone somewhere has a record.&nbsp; But within the law, there are provisions where selling to trade to equal value or higher value coins allows one to not report.&nbsp; This means one can potentially start out with a low value coin and over the years trade up to a coin of great value and defer paying any tax, until completely selling it.&nbsp; &nbsp; I suppose this would also mean that one could &#039;donate&#039; a coin of great value without having to pay tax on it but also deduct it as a charitable gift.&nbsp;&nbsp; For instance, I bought a gold coin through the U.S. Mint as a gift for my Parent&#039;s 50th Wedding Annivesary a few years ago.&nbsp; I gave my parents the purchase receipt, because the reporting requirement for selling it is not on my shoulders, but one my Parents&#039; IF they sell it.&nbsp; Even though the U.S. Mint has my name as the purchaser, it doesn&#039;t mean I&#039;m the one that sold it for profit.&nbsp; I&#039;m certainly not going to write the U.S. Mint the history of the one coin I purchased from them.[/QUOTE]</p><p><br /></p>

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