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<p>[QUOTE="Owle, post: 1330175, member: 22004"]How do others handle coin purchases where the dealer will only take green cash and no invoice is provided? Is this a red flag for accounting, tax, and potentially other legal issues?</p><p><br /></p><p>Of course, an argument can be made that you can always refuse a tempting deal if the terms are not to your liking.</p><p><br /></p><p>So if I were audited and the IRS or state DRS asks for substantiation of the cost basis of the transaction, are private notes sufficient?[/QUOTE]</p><p><br /></p>
[QUOTE="Owle, post: 1330175, member: 22004"]How do others handle coin purchases where the dealer will only take green cash and no invoice is provided? Is this a red flag for accounting, tax, and potentially other legal issues? Of course, an argument can be made that you can always refuse a tempting deal if the terms are not to your liking. So if I were audited and the IRS or state DRS asks for substantiation of the cost basis of the transaction, are private notes sufficient?[/QUOTE]
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