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<p>[QUOTE="Strikeluster, post: 940018, member: 25821"]<b>My thoughts</b></p><p><br /></p><p><br /></p><p> </p><p>Dave,</p><p>If you by a coin from a dealer for $600 or more you should save your recipt in order to keep track of your basis, should you ever sell that coin. If you sell a coin to a dealer for $600 or more, the dealer would issue you a 1099. My thoughts on how you would report that would be as a capital gain (cost less basis) & not earned income. Most people like you and I are collecting coins as investment. I don't believe that you VA disability is effected by investment income. This advice comes directly from a Senior IRS Collections officer.</p><p> </p><p>Steve[/QUOTE]</p><p><br /></p>
[QUOTE="Strikeluster, post: 940018, member: 25821"][b]My thoughts[/b] Dave, If you by a coin from a dealer for $600 or more you should save your recipt in order to keep track of your basis, should you ever sell that coin. If you sell a coin to a dealer for $600 or more, the dealer would issue you a 1099. My thoughts on how you would report that would be as a capital gain (cost less basis) & not earned income. Most people like you and I are collecting coins as investment. I don't believe that you VA disability is effected by investment income. This advice comes directly from a Senior IRS Collections officer. Steve[/QUOTE]
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