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<p>[QUOTE=&quot;charley, post: 8139848, member: 5372&quot;]Good Lord. Gobbledygobbledness, that states nothing not already known by any person that has filled out a tax return.</p><p><br /></p><p>As to the trust of&nbsp; and knowledge of accountants, the average accountant, and CPA, can not decipher the strict requirement&#039;s of&nbsp; the present IRS Ruling, never mind the intent of the changes by Congress that will take effect on 1 Jan. 2022.</p><p><br /></p><p>Example of a conundrum concerning your commentary: the transfer of generational wealth by gifting, when it includes collectables, and how loss/profit is applied, and the physical possession issues. another conundrum:&nbsp; PMs, and base values vs. sale value and whether of not same has to be reported per the 1 Jan.2022 changes, and how PM is treated as a generational wealth transfer&nbsp; exchange, and whether or not it is held on a Schedule A and/or K Trust and whether or not it is considered an asset and/or applicable by SS recipients with no other source of income.</p><p><br /></p><p>I....and just about any living breathing soul required to file a tax return.... could give so many other examples of what is and is not&nbsp; a required reporting system that would be triggered by 1 January 2022 changes that renders your statements as to what will and won&#039;t occur, that you maybe should consider rephrasing your statement to &quot;I am not sure and I don&#039;t really get it&quot;.</p><p><br /></p><p>I do know I have never in all my years had an accountant or CPA identify me or anyone else as &quot;ya&quot;, in a discussion.</p><p><br /></p><p>I am old. My mind wanders. But, I know stuff. Don&#039;t hit me.[/QUOTE]</p><p><br /></p>

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